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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 $10 million. It has annual capacity of 4 million tonnes.
Mr Chanin also said the company's Jorong mine in Indonesia would resume operations in late September after being halted since February by the government because of forest encroachment. Authorities have been working with miners to clarify new operating rules.
"Indonesian coal mines are our major revenue contributor. The [total] coal sales target has been maintained at 23 million tonnes this year," he added.
CIMB-GK Securities (Thailand) has downgraded Banpu's 2010 net profit forecast by 1.4% to 14.6 billion baht following the revision of the Daning figures.
BANPU shares closed yesterday on the SET at 620 baht, down 10 baht, in trade worth 793.3 million baht.
Source: Bangkok Post
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Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
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- Australian Coal Association
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- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
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- Independent Power Producers Association of India
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- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
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- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Kaltim Prima Coal - Indonesia
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- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
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- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
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- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
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- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
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- Ministry of Finance - Indonesia
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- Simpson Spence & Young - Indonesia
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- Sinarmas Energy and Mining - Indonesia
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- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
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- Latin American Coal - Colombia
- Indian Oil Corporation Limited
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- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
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- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
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- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Marubeni Corporation - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
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- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
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- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
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- CIMB Investment Bank - Malaysia
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- Romanian Commodities Exchange
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- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
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- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
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- Electricity Authority, New Zealand
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- IEA Clean Coal Centre - UK
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