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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 $10 million. It has annual capacity of 4 million tonnes.
Mr Chanin also said the company's Jorong mine in Indonesia would resume operations in late September after being halted since February by the government because of forest encroachment. Authorities have been working with miners to clarify new operating rules.
"Indonesian coal mines are our major revenue contributor. The [total] coal sales target has been maintained at 23 million tonnes this year," he added.
CIMB-GK Securities (Thailand) has downgraded Banpu's 2010 net profit forecast by 1.4% to 14.6 billion baht following the revision of the Daning figures.
BANPU shares closed yesterday on the SET at 620 baht, down 10 baht, in trade worth 793.3 million baht.
Source: Bangkok Post
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Wednesday, 10 October 12
TAPPING OPPORTUNITIES WITHIN GLOBAL ECONOMIC PERSPECTIVE
Press Release: Mining sector will continue to play a significant role in supporting industrial and economic development in Indonesia which is curren ...
Tuesday, 09 October 12
REALM RESOURCES RECOMMENCES DRILLING AT KATINGAN RIA COAL PROJECT
COALspot.com : Realm Resources Ltd. (ASX) has announced that it has commenced work on the phase three technical programme at its Katingan Project in ...
Sunday, 07 October 12
INDONESIAN GOVERNMENT DECLARED HBA FELL AGAIN IN OCTOBER
COALspot.com - The Indonesian government’s declared coal reference price has lost US$ 0.17 per MT M-M.
The monthly coal referen ...
Saturday, 06 October 12
CFR SOUTH CHINA COAL SWAPS FOR DECEMBER'13 DELIVERY GAINED 1.3 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery gained 0.098 percent and 0.164 percent W-W and D-D respectively o ...
Saturday, 06 October 12
FREIGHT MARKET IS LIKELY TO PICK AFTER THE HOLIDAYS IN CHINA - VISTAAR
COALspot.com - The freight market appeared to be seeing some increase BDI up by 14.23 pct closing at 875 points. The Cape and Panamax index also saw ...
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- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
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- The State Trading Corporation of India Ltd
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- PTC India Limited - India
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- Asmin Koalindo Tuhup - Indonesia
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- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
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- Marubeni Corporation - India
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- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
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- Latin American Coal - Colombia
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
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- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- White Energy Company Limited
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- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- The University of Queensland
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- Anglo American - United Kingdom
- Planning Commission, India
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- Jorong Barutama Greston.PT - Indonesia
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- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
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- Banpu Public Company Limited - Thailand
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- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
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- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
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- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
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- CIMB Investment Bank - Malaysia
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- Global Business Power Corporation, Philippines
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