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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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Friday, 15 October 10
VALUE ADDED TAX FOR COAL TO RE-INTRODUCE IN INDONESIA
COALspot.com: Indonesian government is drafting a ministerial decree to re-introduce value added tax for coal and mineral. Coalindo weekly news lett ...
Thursday, 14 October 10
COAL PRICES AT QINHUANGDAO PORT UP - CAPITALVUE
Capitalvue reported that, prices of steam coal yielding 5,500 kilocalories per kilogram (kcal/kg) in Qinhuangdao Port have risen five yuan to 715-72 ...
Thursday, 14 October 10
DRY BULK MARKET MAINTAINS POSITIVE TREND ON FIRMER CHINESE IRON ORE DEMAND
The dry bulk market has kept its upward trend set since last week, with the industry’s main benchmark, the Baltic Dry Index (BDI) rising to 2, ...
Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax se ...
Tuesday, 12 October 10
COAL SPOT TRADING MAY SOOTH PRICING CONFLICTS - GLOBAL TIMES
Global Times reported that, Tianjin-based Bohai Commodity Exchange launched steam coal for spot trading for the first time Monday. Steam coal is mai ...
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- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
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- Directorate General of MIneral and Coal - Indonesia
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- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
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- PNOC Exploration Corporation - Philippines
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- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
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- Power Finance Corporation Ltd., India
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- White Energy Company Limited
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- Samtan Co., Ltd - South Korea
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- Essar Steel Hazira Ltd - India
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- GN Power Mariveles Coal Plant, Philippines
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- Global Green Power PLC Corporation, Philippines
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- Agrawal Coal Company - India
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- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
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- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Australian Coal Association
- VISA Power Limited - India
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- Heidelberg Cement - Germany
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- Mjunction Services Limited - India
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- Miang Besar Coal Terminal - Indonesia
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- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
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- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
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- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
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- Romanian Commodities Exchange
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- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
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- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
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- Georgia Ports Authority, United States
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- CNBM International Corporation - China
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- Kobexindo Tractors - Indoneisa
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- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
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- Minerals Council of Australia
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- The Treasury - Australian Government
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- Edison Trading Spa - Italy
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- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
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- Ceylon Electricity Board - Sri Lanka
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- Sojitz Corporation - Japan
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- Parry Sugars Refinery, India
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- Planning Commission, India
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- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Kalimantan Lumbung Energi - Indonesia
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