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Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agreement (CSPA) to acquire a 30 percent stake in PT Golden Energy Mines, a subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) on 11 August 2011.
This transaction is subject to the fulfillment of several conditions and is expected to close in calendar 2011, including but not limited to the approvals of the general meeting of the shareholders and the listing of GEMS’s shares in the Indonesian Stock Exchange, said Hermawan Tarjono, corporate secretary of DSSA, when interviewed by COALspot.com.
The acquisition value is in the range of USD 450 million to USD 550 million. The value can be anticipated only while nearing to the transaction closing. The transaction will be closed once the GEMS’s shares are listed in Indonesian stock exchange and the IPO which is expected around fourth quarter of the year. The 30% share purchase will be done by combination of strategic sale and IPO purchase which is under negotiation, according to Hermawan Tarjono.
Once the transaction is closed, GMR will participate in the GEMS’s Management as the GEMS is proliferating and becomes more professionally managed, he added.
GEMS, a subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA), owns four producing and six non-producing thermal coal concessions in Sumatra, South Kalimantan and Central Kalimantan.
GEMS is targeting to produce 6-8 million tonnes of coal this year
GMR Infrastructure Ltd has already invested in a coal mine located in South Sumatra. The company brought PT Barasentosa Lestari (PT BSL) early 2009 for around US$ 80 million. The mine is estimate to have reserves of 100 million tonnes.
To contact the reporter responsible on this story - Efendi at efendi@coalspot.com
Translated by - WB
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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
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- European Bulk Services B.V. - Netherlands
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- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
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- Intertek Mineral Services - Indonesia
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- Bulk Trading Sa - Switzerland
- Australian Coal Association
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- Vizag Seaport Private Limited - India
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- Energy Link Ltd, New Zealand
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- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
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- Minerals Council of Australia
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- Metalloyd Limited - United Kingdom
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- Binh Thuan Hamico - Vietnam
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- Planning Commission, India
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- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Latin American Coal - Colombia
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- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
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- Indika Energy - Indonesia
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- The Treasury - Australian Government
- Economic Council, Georgia
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- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
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- Marubeni Corporation - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
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- Ministry of Finance - Indonesia
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- Australian Commodity Traders Exchange
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- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- The University of Queensland
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- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
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- Ministry of Mines - Canada
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- Eastern Energy - Thailand
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- Eastern Coal Council - USA
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- Parliament of New Zealand
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- Romanian Commodities Exchange
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- Global Business Power Corporation, Philippines
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- Africa Commodities Group - South Africa
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- Directorate General of MIneral and Coal - Indonesia
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- Kumho Petrochemical, South Korea
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- Miang Besar Coal Terminal - Indonesia
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- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
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- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
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- Wood Mackenzie - Singapore
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- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
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- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
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- Heidelberg Cement - Germany
- Indian Energy Exchange, India
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- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
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- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
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