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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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Monday, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel ...
Sunday, 25 April 10
THE WAITING AT INDIAN PORTS FOR COAL VESSELS WAS QUITE NORMAL - VISTAAR
COALspot.com: The BDI remained unchanged this week and all other sectors also the change was not much.
The cape index continued to move up and wa ...
Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA
Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.
“We are exploring t ...
Saturday, 24 April 10
CHINA'S COAL IMPORTS DOUBLE IN MARCH
China's General Administration of Customs said that the country imported 15.22 million tons of coal last month, more than double the amount it impo ...
Friday, 23 April 10
KPCL EYES MINE IN INDONESIA - BUSINESS STANDARD
Business-Standard reported that, Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring ...
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- SN Aboitiz Power Inc, Philippines
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- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
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- Merrill Lynch Commodities Europe
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- Iligan Light & Power Inc, Philippines
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- Thiess Contractors Indonesia
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- GAC Shipping (India) Pvt Ltd
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- European Bulk Services B.V. - Netherlands
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- Wood Mackenzie - Singapore
- Australian Coal Association
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- Formosa Plastics Group - Taiwan
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- McConnell Dowell - Australia
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- Borneo Indobara - Indonesia
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- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
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- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
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- Edison Trading Spa - Italy
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- Mintek Dendrill Indonesia
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- Independent Power Producers Association of India
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- Siam City Cement PLC, Thailand
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- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
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- Metalloyd Limited - United Kingdom
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- Pipit Mutiara Jaya. PT, Indonesia
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- Minerals Council of Australia
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- Therma Luzon, Inc, Philippines
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- Billiton Holdings Pty Ltd - Australia
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- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Price Waterhouse Coopers - Russia
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- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- London Commodity Brokers - England
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- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Planning Commission, India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
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- Economic Council, Georgia
- Electricity Authority, New Zealand
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