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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 $21 per ton of reserves, according to Jefferies & Co. analyst Michael Dudas.
"We believe the initial bid is the first step in a long, complex negotiating process involving numerous players in the coal and steel industry," Dudas said in a research note.
Peabody said it is currently in discussions with Macarthur's three largest shareholders, who collectively own 47 percent of the company.
Peabody said its offer is conditional on Macarthur calling off an earlier agreement to purchase rival Gloucester Coal Ltd., which is 88-percent owned by Asian commodities firm Noble Group Ltd.
Macarthur is holding a meeting on April 12 for shareholders to vote on whether to issue shares to complete the Gloucester deal.
Peabody said its bid is 34 percent higher than the price of Macarthur shares to be issued to Noble as part of the Gloucester agreement. It is also higher than a February valuation by an independent expert hired by Macarthur, Peabody said.
Source: ST. LOUIS POST-DISPATCH (By: BY Jeffrey Tomich)
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Tuesday, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
Winnipeg Free Press reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per ce ...
Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
Attention international coal industry. There's a new kid on the block.
The nation of India.
India is emerging as a major re-shaping force for ...
Sunday, 28 March 10
SHIPS FROM WC INDIA TO CHINA CONTINUED TO BE FIXED AT HEALTHY LEVELS AT AROUND US$ 50/52,000 PER DAY - VISTAAR
COALspot.com: The dry bulk freight market seemed to be heading for a correction with all the indices dropping by 8-10 pct except for handy size whic ...
Saturday, 27 March 10
CHINA DROUGHT MAY RAISE COAL DEMAND, BOOST PRICES, CLSA SAYS - BLOOMBERG
Bloomberg reported that, Droughts in southwest China may increase demand for coal used in power plants, and ‘support” prices in the &ldq ...
Saturday, 27 March 10
CHINA TO REMAIN NET COAL IMPORTER IN NEAR FUTURE - STEEL GURU
Xinhua News cited Mr Wu Chenghou a councilor with the China Coal Transportation and Marketing Association as saying that China will remain a net coa ...
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- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- The University of Queensland
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
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