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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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Tuesday, 19 January 10
COAL FOR DOMESTIC USERS
While the government is already almost a year behind schedule in issuing regulations to implement the new mining law, mineral producers have been&nb ...
Tuesday, 19 January 10
RISING DEMAND FROM POWER FIRMS TO PUSH COAL PRICES
The resurgence of the Chinese economy, along with harsh winter conditions across the country, is likely to push coal prices up in the short term. In ...
Tuesday, 19 January 10
ESSAR'S MEGA ACQUISITION PLANS
India’s Essar Group has carved a mega plan that includes a slew of acquisitions and investments in assets across various businesses. CNBC-TV18 ...
Monday, 18 January 10
INDONESIA SHIPPED 15.90 PERCENT OF TOTAL COAL EXPORTS IN 2009 TO INDIA
COALspot.com (Indonesia): Indonesia, the world largest coal exporter, exported 19.07 percent of the total coal export in 2009 to China and 15. ...
Monday, 18 January 10
BHP TO SPEND $267 MILLION ON QUEENSLAND COKING COAL
BHP Billiton Ltd, the world’s largest mining company, will spend $267 million to accelerate development of the Caval Ridge mine and the Hay Po ...
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- Madhucon Powers Ltd - India
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- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
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- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Eastern Coal Council - USA
- Electricity Authority, New Zealand
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- Economic Council, Georgia
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- CIMB Investment Bank - Malaysia
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- Rio Tinto Coal - Australia
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- Jorong Barutama Greston.PT - Indonesia
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- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
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- PTC India Limited - India
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- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
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- Kalimantan Lumbung Energi - Indonesia
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- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
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- White Energy Company Limited
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- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
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- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
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- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
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- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
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- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
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- Power Finance Corporation Ltd., India
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- Goldman Sachs - Singapore
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- Bhatia International Limited - India
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- The University of Queensland
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- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Planning Commission, India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
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- London Commodity Brokers - England
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