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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, 13 October 09
INDIA INTERESTED IN AMERICAN COAL
UPI reported that, Coal India Ltd. in its global expansion efforts is now interested in coal properties in the United States.
The Business Standard ...
Tuesday, 13 October 09
RIVERSDALE MAY USE ZAMBEZI RIVER TO TRANSPORT MOZAMBIQUE COAL
Mining Weekly reported that, ASX-listed coal-miner Riversdale Mining would submit a feasibility study and an environmental-impact study (EIS) for it ...
Monday, 12 October 09
INDONESIAN COAL MINER SAYS PLANS IPO IN 2010
Reuters reported that, Indonesian coal miner PT Bhakti Energi Persada plans an initial public offering in the first quarter of 2010 to develop coal ...
Monday, 12 October 09
BISICHI MINING FINALIZES COAL SUPPLY CONTRACT FOR 2010-2012
Small Cap News reported that, Bisichi, the South Africa based coal mining group, has agreed a three year coal supply contract between its principal ...
Monday, 12 October 09
SHANDUKA BUYS SACMH RICHARDS BAY COAL ALLOCATION
* Shanduka Coal takes SACMH 500,000T export space
* RBCT must approve any change of ownership
Reuters reported that, South Africa's Shanduka Co ...
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- International Coal Ventures Pvt Ltd - India
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- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
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- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
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- Wood Mackenzie - Singapore
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- Goldman Sachs - Singapore
- Planning Commission, India
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- Interocean Group of Companies - India
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- Merrill Lynch Commodities Europe
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- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
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- Wilmar Investment Holdings
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- Singapore Mercantile Exchange
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- SMG Consultants - Indonesia
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- Sree Jayajothi Cements Limited - India
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- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
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- Simpson Spence & Young - Indonesia
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- Economic Council, Georgia
- Indonesian Coal Mining Association
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Banpu Public Company Limited - Thailand
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- White Energy Company Limited
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- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
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- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
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- Minerals Council of Australia
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- Independent Power Producers Association of India
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- Global Coal Blending Company Limited - Australia
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- Kepco SPC Power Corporation, Philippines
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- Parliament of New Zealand
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- Price Waterhouse Coopers - Russia
- The University of Queensland
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
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