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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, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
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- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
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- Goldman Sachs - Singapore
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- Intertek Mineral Services - Indonesia
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- Attock Cement Pakistan Limited
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- Indian Energy Exchange, India
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- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
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- Deloitte Consulting - India
- Indian Oil Corporation Limited
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- Indika Energy - Indonesia
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- Formosa Plastics Group - Taiwan
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- GMR Energy Limited - India
- Malabar Cements Ltd - India
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- Eastern Coal Council - USA
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- Mintek Dendrill Indonesia
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- PTC India Limited - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
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- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- London Commodity Brokers - England
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- Kapuas Tunggal Persada - Indonesia
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- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
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- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
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- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
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- Planning Commission, India
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- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Bangladesh Power Developement Board
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- Romanian Commodities Exchange
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- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
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- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
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