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Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
.jpg) COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, conditional upon shareholder, regulatory, and other approvals to acquire an effective economic interest of approximately 23.8% in Bumi Plc.
According to Borneo's press release, the total investment considered of US$ one billion values Bumi plc's shares at approximately GBP 10.91 per share at the date of the announcement and will be payable in cash.
Mr. Samin Tan, President director of BORN, said " This Transaction creates a partnership between two leading mining groups in Indonesia. Through this transaction, BORN will gain access to the growing thermal coal industry through a well established and major platform. The transaction also provides BORN with exposure to a high quality metals portfolio, thus transforming BORN from a pure coking coal producer into a world class diversified natural resources producer. This also signifies our intelligent way of deploying capital"
Mr. Tan Continued, "BORN has proven mine development skills from greenfield through to production stage and we look forward to working with and supporting current management across the Bumi plc group to execute development plants at the exciting new prjects at Dairi Prima Minerals, Gorontalo Mining and Bumi Mauritania as well as achieving synergies and efficiencies across the coal division. We are strongly committed to creating shareholder value at all levels from BORN to Bumi plc and its subsidiaries and associate companies."
According to BORN, this partnership transforms BORN into a leading natural resources company with exposure to both coking and thermal coal as well as a diversified high quality metals portfolio.
The Transaction positions BORN on the global map, as one of the leading mining companies in the world. BORN also believes, the demand and price outlook for the global thermal coal market is positive with China and India expected to be key growth drivers. The transaction provides BORN with exposure to this growth given Indonesia's proximity to both markets.
The investment is expected to be financed through a US$ one billion five-years amortizing term loan facility provided solely by Standard Chartered Bank. The press release further said, Standard Charted Bank is acting as the financial advisor and acquisition finance provider to BORN in connection with the Transaction.
The Transaction is expected to close in December 2011.
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Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
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- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- CNBM International Corporation - China
- Marubeni Corporation - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
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