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Wednesday, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
 Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with its takeover of Sydney-based Centennial Coal Co, which Banpu shareholders approved yesterday.
Chief executive Chanin Vongkusolkit said the company expected to complete its tender offer for the remaining 80.1% of Centennial by the end of September or early October at the cost of A$2.017 billion or 55.29 billion baht.
Banpu earlier acquired 19.9% of Centennial for A$380 million. On July 5, Banpu announced it would buy all of the ordinarily shares of the Australian company that it does not already control at the price of A$6.2 per share.
Mr Chanin said yesterday that the takeover would be completed after Australia's general election on Aug 21, adding that he expected the new Australian government would welcome the deal.
The company expected to book revenue contributions from Centennial in the fourth quarter of this year, he added.
Centennial, with 10 mines, has marketable coal reserves of 386 million tonnes as of June 30 this year. Banpu, which operates coal mines in Indonesia and China, has reserves of 318 million tonnes.
Shareholders yesterday also approved the management's plan to issue additional debentures worth up to 20 billion baht with maturities of up to 15 years.
Mr Chanin said Banpu would issue some debentures later this year in multiple tranches to either refinance debts or fund its acquisition of Centennial.
Banpu was confident that 2010 revenue would beat forecasts despite lower production at the Daning mine in Shanxi province due to a licence renewal delay.
The company on Monday revised down forecast production of the Chinese underground mine by 10%, resulting in expected lower net profit of $10 million. It has annual capacity of 4 million tonnes.
Mr Chanin also said the company's Jorong mine in Indonesia would resume operations in late September after being halted since February by the government because of forest encroachment. Authorities have been working with miners to clarify new operating rules.
"Indonesian coal mines are our major revenue contributor. The [total] coal sales target has been maintained at 23 million tonnes this year," he added.
CIMB-GK Securities (Thailand) has downgraded Banpu's 2010 net profit forecast by 1.4% to 14.6 billion baht following the revision of the Daning figures.
BANPU shares closed yesterday on the SET at 620 baht, down 10 baht, in trade worth 793.3 million baht.
Source: Bangkok Post
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Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
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- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
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- Metalloyd Limited - United Kingdom
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- Coal and Oil Company - UAE
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- Standard Chartered Bank - UAE
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- Kumho Petrochemical, South Korea
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- Australian Commodity Traders Exchange
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- GAC Shipping (India) Pvt Ltd
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- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
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- White Energy Company Limited
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- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
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- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
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- Deloitte Consulting - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
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- GVK Power & Infra Limited - India
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- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
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- Cement Manufacturers Association - India
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- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
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- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
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- Wilmar Investment Holdings
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- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
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- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
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- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
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- Madhucon Powers Ltd - India
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- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
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- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
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- Directorate General of MIneral and Coal - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
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- Electricity Generating Authority of Thailand
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- Economic Council, Georgia
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- LBH Netherlands Bv - Netherlands
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