PT Bumi Resources said that it aims to raise IDR 3.24 trillion (USD 362 million) in a share placement in September.
As per report the Bakrie Group company will sell 1.37 billion new shares in a placement closing on September 30 at a price of IDR 2,366 per share. The amount targeted was lower than the company?s previous expectation to raise USD 495 million by selling a stake of up to 10%.
Mr Dileep Srivastava a Bumi director said the sale was the first part of the company?s plan to deleverage its debt by up to USD 800 million by the fourth quarter this year.
Bumi said in June that shareholders had approved a plan to sell new shares to creditors, including Chinese sovereign wealth fund China Investment Corporation.
: Indonesia 2011 coal output likely to up by 24pct
Thursday, 14 Oct 2010
The Indonesian Ministry of Energy and Mineral Resources has predicted Indonesia?s coal production in 2011 at 326.65 million tonnes, up 24.45% from that a year earlier which stood at 262.48 million tonnes, data showed.
Based on ESDM Minister Darwin Selah?s decree Aug 31, 2010, the copy of which was made available to ANTARA on Oct 12, the country?s coal production would be produced by 53 coal mining companies in the country. Of the 53 firms, 42 coal exploitation contract companies, one state owned firm and 10 authorized coal mining enterprises. In the minister?s decree the domestic consumption need for coal was predicted at 78.97 million tonnes in 2011.
"The minimal sale percentage for domestic consumption in 2011 equals to 24.17%," it was mentioned in the decree. Based on the decree, the need of generators for coal in 2011 is 66.28 million tonnes, state-owned electricity PLN 55.82 million tonnes, private power generators 8.97 million tonnes, PT Freeport Indonesia 0.83 million tonnes, PT Newmont Nusa Tenggara 0.47 million tonnes and PT Pusaka Jaya Palu Power 0.19 million tonnes. In the meantime, metallurgy factories will need 0.43 million tonnes which consist of 0.14 tonnes for PT Inco and 0.2 million tonnes for PT Aneka Tambang.