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Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
 STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks to expand its capacity to supply fuel to a fast-growing Asian market.
The hostile bid follows an earlier offer from St. Louis-based Peabody that was likewise turned down by Macarthur's board.
"Peabody's proposal is highly conditional and does not fully value Macarthur and its significant growth prospects," Macarthur Chairman Keith DeLacy said Wednesday in a statement.
Peabody, the world's largest private-sector coal company, has rapidly expanded operations in Australia since buying its first mine there six years ago. Last year, the company said it plans to double coal exports from the country by 2014.
The company on Wednesday said it is "disappointed" with the initial rejection and believes Macarthur's assets and growth prospects are a good fit with its existing Australian operations.
Brisbane-based Macarthur produced about 4.6 million tons of so-called metallurgical coal last year from two Queensland mines and is in the midst of an expansion. The company, which owns 145 million tons of reserves, supplies coal to steel mills in Asia, Europe and Brazil.
Peabody's offer values Macarthur at about $680 per ton of production and $21 per ton of reserves, according to Jefferies & Co. analyst Michael Dudas.
"We believe the initial bid is the first step in a long, complex negotiating process involving numerous players in the coal and steel industry," Dudas said in a research note.
Peabody said it is currently in discussions with Macarthur's three largest shareholders, who collectively own 47 percent of the company.
Peabody said its offer is conditional on Macarthur calling off an earlier agreement to purchase rival Gloucester Coal Ltd., which is 88-percent owned by Asian commodities firm Noble Group Ltd.
Macarthur is holding a meeting on April 12 for shareholders to vote on whether to issue shares to complete the Gloucester deal.
Peabody said its bid is 34 percent higher than the price of Macarthur shares to be issued to Noble as part of the Gloucester agreement. It is also higher than a February valuation by an independent expert hired by Macarthur, Peabody said.
Source: ST. LOUIS POST-DISPATCH (By: BY Jeffrey Tomich)
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Thursday, 08 April 10
INDONESIAN ENERGY MINISTRY SEEKS LONGER MINING CONTRACTS - THE JAKARTAGLOBE
The Jakarta Globe reported that, Energy Minister Darwin Zahedy Saleh said he would seek to amend the mining law to address investors’ complain ...
Thursday, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
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- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- White Energy Company Limited
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
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