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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, 12 June 12
ITACHA RESOURCES BUYS SARANA MARINE - INSIDER STORIES
Insider Stories reported that, coal mining company PT Itacha Resources, a joint venture between Anthoni Salim and Glenn Yusuf, announced that Itacha ...
Monday, 11 June 12
BAHANA FORECASTS THE COAL PRICES WILL FALL FURTHER
COALspot.com - Growing US coal supplies + low shipping costs = Asia as target.
According to Irwan Budiarto analyst at Bahana Securities, US ...
Monday, 11 June 12
ASIAN COAL TRADING COMMUNITY EMBRACES API 5 AND API 8
Press Release - The Asian coal trading community is embracing the API 5 and API 8 indexes for its swap contracts.
The API 5 index represents 5,50 ...
Sunday, 10 June 12
FREIGHT MARKET EXPECTED TO REMAIN WEAK FOR NEXT FEW WEEKS - VISTAAR
COALspot.com - The BDI continued to fall this week and down by 2.99 pct closing at 877 points.
The Cape index also was down by 5.78 pct closing a ...
Friday, 08 June 12
ESSAR ENERGY RECEIVES FINAL APPROVAL FOR INDONESIAN COAL BLOCK
COALspot.com - Essar Energy plc, the India-focused integrated energy company, today announced that it has received final ‘Pinjam Pakai’ ...
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- Baramulti Group, Indonesia
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- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
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- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
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- Samtan Co., Ltd - South Korea
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- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
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- Leighton Contractors Pty Ltd - Australia
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- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
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- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- PTC India Limited - India
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- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
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- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
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- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
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- South Luzon Thermal Energy Corporation
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- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
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- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
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- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
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- Pipit Mutiara Jaya. PT, Indonesia
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- Singapore Mercantile Exchange
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- Wilmar Investment Holdings
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- Kaltim Prima Coal - Indonesia
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- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
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- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
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- Jorong Barutama Greston.PT - Indonesia
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