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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, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- Port Waratah Coal Services - Australia
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- SMC Global Power, Philippines
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- Economic Council, Georgia
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- Thiess Contractors Indonesia
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- Bhatia International Limited - India
- Coalindo Energy - Indonesia
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- Bangladesh Power Developement Board
- ASAPP Information Group - India
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- Jaiprakash Power Ventures ltd
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- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
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- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
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- Antam Resourcindo - Indonesia
- The University of Queensland
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- Australian Coal Association
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- Bharathi Cement Corporation - India
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- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Posco Energy - South Korea
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- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
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- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
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- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
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- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
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- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
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- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
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- Oldendorff Carriers - Singapore
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- Alfred C Toepfer International GmbH - Germany
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- Indonesian Coal Mining Association
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- Eastern Energy - Thailand
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- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
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- Planning Commission, India
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- MS Steel International - UAE
- Ministry of Finance - Indonesia
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- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
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- White Energy Company Limited
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