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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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Friday, 23 September 16
"COLLATERAL LIES" DO NOT NECESSARILY UNDERMINE AN INSURANCE CLAIM
KNOWLEDGE TO ELEVATE
An insured was not precluded from recovering under an insurance policy even though it had made a false statement during t ...
Friday, 23 September 16
EIA SEES U.S. COAL WEEKLY OUTPUT INCREASE
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Thursday, 22 September 16
CHINA IS THE PRICE-SETTING COUNTRY FOR GLOBAL THERMAL COAL
COALspot.com: China has been the driver of global coal growth since 2009. When China became the largest coal importer in 2011, the country also has ...
Thursday, 22 September 16
SUPRAMAXES ARE ACHIEVING AROUND $7000 FOR A TRIP WITH SINGAPORE DELIVERY VIA INDONESIA TO CHINA
Supramax
A slow start to the week in the Supramax segment in the Atlantic with not much being reported.
In the Blacksea Supramaxes are getti ...
Wednesday, 21 September 16
THE CAPESIZE MARKET HAS BEEN ON A RALLYING TREND SINCE THE END OF AUGUST - GEORGE LAZARIDIS
The Capesize market has been on a rallying trend since the end of August, fuelled mainly by the chase by traders to pre-stock before the typical pi ...
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- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
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- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
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- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Mercator Lines Limited - India
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- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
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- Eastern Coal Council - USA
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- Attock Cement Pakistan Limited
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- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Planning Commission, India
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
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- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
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- Jaiprakash Power Ventures ltd
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- Chamber of Mines of South Africa
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- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Minerals Council of Australia
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- Australian Coal Association
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- The State Trading Corporation of India Ltd
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- Dalmia Cement Bharat India
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- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
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- Manunggal Multi Energi - Indonesia
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- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
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- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
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- Alfred C Toepfer International GmbH - Germany
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- Kumho Petrochemical, South Korea
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- Holcim Trading Pte Ltd - Singapore
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- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
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- SN Aboitiz Power Inc, Philippines
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- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
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- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
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- Bhatia International Limited - India
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- Formosa Plastics Group - Taiwan
- The University of Queensland
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- Metalloyd Limited - United Kingdom
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- Australian Commodity Traders Exchange
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- Goldman Sachs - Singapore
- Ministry of Mines - Canada
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- Deloitte Consulting - India
- New Zealand Coal & Carbon
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
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- Banpu Public Company Limited - Thailand
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