BlackGold + China Huadian in Indonesia
SGX-listed BlackGold Natural Resources Limited, through its subsidiary PT Samanaka Batubara, has entered into a consortium agreement with China Huadian Engineering Co Ltd for the development of a 2×300 MW mine-mouth power plant in Riau province, Indonesia. Who’s behind?
China Shenhua Wins Jawa-7 IPP, Next?
China Shenhua Energy Co Ltd, one of the world’s largest integrated energy companies, has received a notice from PT Perusahaan Listrik Negara (PLN) that Shenhua’s consortium won the giant Jawa-7 coal-fired power plant (CFPP) project (2×1000 MW) in partnership with PT Pembangkitan Jawa Bali-Investasi, a subsidiary of PLN.
People Behind PT Enso Asia
Shareholders of ASX-listed Triangle Energy Limited have recently voted overwhelmingly for the sale to PT Enso Asia of 100% of the shares in Triangle which holds majority interest in the Pase production sharing contract (PSC) in Aceh province, Indonesia. Who’s behind PT Enso Asia?
Coal Journal: Production Cut & Acquisitions
Shares of coal producers ended mostly higher ground worldwide Thursday (Dec 24) as WTI crude oil rallied to above US$38 per barrel. Peabody Energy, the world’s largest producer in private sector, jumped 11.5% in New York, while Whitehaven Coal soared 8.7% earlier in Sydney.
Further Rally for Palm Oil?
The benchmark March 2016 contracts of crude palm oil (CPO) settled higher by RM18 to RM2486 per ton Wednesday (Dec 23) on the Bursa Malaysia Derivatives, lifted by further rally in crude oil and reports about lower CPO production from companies listed on KL Stock Exchange.
Amendment of Mining Contracts
The government has on Wednesday (Dec 23) signed amendment of mining contracts, consisted of nine contract of works (COWs) and 12 coal contract of works (CCOWs). Contractors agreed to use the prevailing laws for items related to the State revenues, except for the corporate income tax, which still use the nailed down system (30-35%).
Coal Journal: Refinancing
BHP Billiton and Rio Tinto Ltd opened significantly higher in Sydney this morning to tracking peers listed on NYSE and recovery of crude oil. In the meantime, coal producers have secured refinancing facilities as banks believe in their long-term prospect.
Falling CPO Output
Felda Global Ventures, the world’s largest producer of crude palm oil (CPO), recorded CPO output of 261,858 tons last month, down 10.6% from October 2015 and 7.7% from November 2014. Sime Darby, considered second largest, meanwhile, reported almost 10% drop from October 2015.
Further Consolidation of Steel & Metals
Looks like that investors in metals-related shares should wait longer to see recovery in metal prices. World crude steel production for the 66 countries reporting to the World Steel Association, responsible for 85% of the world’s steel production, was 127 million tons last month, down 4.1% from November 2014. Utilisation rates of steel factories also dropped to its new low at 66.9%.
Private Placement of PT REA Kaltim Plantation
R.E.A Holdings Plc, a company listed on the London Stock Exchange controlling PT REA Kaltim Plantation, said recently that current interest in new issues (initial public offering/IPO) on the Indonesia Stock Exchange (IDX) is such that it is unlikely that an IPO of its subsidiary can be a short term source of material new equity.