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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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Sunday, 14 March 10
CHINESE COAL PRICE MAY RISE TO TRADE NEAR SPOT, MACQUARIE SAYS
Bloomberg reported that, Steel mills in China, the world’s biggest producer of the alloy, may pay more for domestic coking coal this year as d ...
Sunday, 14 March 10
THERE IS NO INDICATION OF SLOWING DOWN OF IRON ORE AND COAL IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com: The dry bulk freight market continued the upward trend and the BDI closed 8.14 pct this week.
The Cape index up by 10.32 pct ...
Saturday, 13 March 10
INDONESIA COAL EXPORTS DROP IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons in January 2010 which fell slightly to 22.89 mln ton of coal i ...
Saturday, 13 March 10
INDONESIA TELLS BUKIT ASAM TO DITCH PARTNER IN SUMATRA RAILWAY UNLESS PROJECT STARTS
The Jakarta Globe reported that, the Indonesian government has urged state-owned miner PT Tambang Batubara Bukit Asam to look for new partners to he ...
Saturday, 13 March 10
OPTIMUM COAL AIMS TO RAISE R1,6 BILLION IN LISTING
All Africa reported that, COAL mining and exploration company Optimum Coal yesterday announced plans to list on the JSE at the end of the month ...
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- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
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