We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
 Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 years (referred to below as Option One), to acquire a controlling interest in an affiliated coal miner PT Bhakti Energi Persada (BEP) and an option, to acquire the majority shares from the controlling shareholders of BEP (referred to below as Option Two, and, together with Option One are referred to as Options or Option Agreements).
Adaro Energy will have full control of the management, operations and all the funding of BEP from the date of the signing of the Options.
“We are delighted with the BEP Options we have signed. We feel BEP has excellent potential to help us achieve our main goal of generating substantial sustainable long-term value from Indonesian coal," said President Director Garibaldi Thohir at Adaro in a press statement yesterday filed to Indonesia Stock Exchange.
Adaro also worked for 2 years to negotiate a deal that is structured in a unique way to minimize risk to Adaro. "While we are excited with the BEP opportunity, we must also emphasize that we will use our best judgment before injecting any funds to develop the asset.”
Key success factors such as market readiness, receiving required permits from the government, land availability, social and community support, and completing engineering and geological studies must first be in place before any large capital expenditures will be deployed. “Our investors should not have the perception that once the Options are signed, we will immediately deploy capital to fund BEP. We are entering into these Options to properly assess an opportunity, while minimizing the risk to Adaro’s capital. We want to ensure both the acquisition risks and the execution risks are addressed well in advance.”
BEP, which was established in 2002, owns seven low grade thermal coal licenses in the District of Muara Wahau, East Kutai Regency, East Kalimantan. BEP also owns two transport businesses in East Kalimantan, which own the hauling road that will be used to transport BEP’s coal to the seashore. The seven concessions form one very large contiguous thermal coal deposit. SRK Consulting (Australasia) Pty Ltd (“SRK”) estimated BEP’s concessions to have JORC compliant total resources of 9.53 billion tonnes.
In 2010, Adaro Energy hired Marston, an international mining consultant firm out of St Louis Missouri, USA, to conduct a mining and development study, which verified certain technical assumptions used by SRK in their 2008 and 2009 JORC resource reports. Marston’s estimate of insitu coal tonnages was essentially the same as the SRK estimate as the difference was within acceptable limits.
Option One provides Adaro the option to lend up to US$500 million to acquire 51% equity in BEP over a period of 3 years.
Adaro can make a decision to convert the loan into equity at the end of the 3 year period. Option two also has a 3 year maturity and was signed with PT Persada Capital Investama (PCI), PT Triputra Investindo Arya (TIA), and the descendants of the late Mr. Winarto. PCI and TIA each have a 30.787% stake in BEP and combined with the 18.216% Winarto family stake, own 79.8% of the equity of BEP.
Option two provides Adaro a right to acquire shares held by the controlling shareholders of BEP (together holding 79.8% shares in BEP) in exchange for 2,381.7 million shares of Adaro Energy. Both Options are only options for Adaro and not its obligations.
In June 2011, in an unrelated transaction, Adaro Energy acquired 10.22% of BEP for US$66 million from third party minority holders.
Source: Insider Stories
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
Wednesday, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
|
|
|
Showing 4766 to 4770 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- The University of Queensland
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- White Energy Company Limited
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
|
| |
| |
|
