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Saturday, 04 July 09
CHINA BUYS 17% OF MINER TECK RESOURCES FOR $1.5 BILLION
 * To sell 17.2 percent stake to China Investment Corp
* To raise proceeds of C$1.74 bln
* Shares rise 3.2 percent (Adds details. In U.S. dollars unless noted)
Canada's Teck Resources will sell a 17.2 percent equity stake to state-owned China Investment Corp through a private placement that will raise C$1.74 billion ($1.5 billion) and help the miner pay down debt, it said on Friday.
Teck, a top producer of zinc, copper, and metallurgical coal, will sell 101.3 million shares at C$17.21 each, a 7 percent discount to Thursday's closing price of C$18.50 on the Toronto Stock Exchange.
Despite the discount, Teck's shares rose 3.2 percent, or 60 Canadian cents to C$19.10 just after markets opened, the biggest gain among base metals miners in Toronto.
The deal, which will give CIC a 6.7 percent voting stake in the company, comes as Chinese companies have been taking advantage of depressed resource prices buy stakes in producers and lock in access to commodities, particularly oil.
However, the deal does not involve an offtake agreement, and Teck said that CIC, a sovereign wealth fund, has said it is acquiring the shares "for investment purposes as a long-term passive financial investor" and has agreed to hold the stock for at least a year after the deal closes in mid-July.
In a statement, Teck Chief Executive Don Lindsay said the transaction was "an attractive opportunity for Teck to establish a relationship with a major Chinese financial investor, with a deep understanding of China, the world's largest consumer of our principal products."
Lindsay said recently the company had talks with Chinese officials last year over a possible deal to supply coal to China's growing steel industry.
DEBT PAYDOWN
Vancouver, British Columbia-based Teck will use the proceeds of the deal to cut bank debt. The miner took on nearly $10 billion in debt last year to buy Fording Canadian Coal Trust, which made it a top producer of metallurgical coal, or coal used in the steelmaking process.
The company has sold some assets to pay down the debt, and has said it planned to sell a 20 percent stake in its coal business. Teck spokesman Greg Waller said the company still plans to sell the minority stake in the coal business.
David Davidson, an analyst at Paradigm Capital, noted there had been recent speculation that Teck would do some sort of equity sale to pay down debt.
He said he doubted the deal would face Canadian regulatory or government obstacles, as it is for an equity stake in the company, rather than a piece of a particular asset.
"It doesn't get them any closer to a pound of zinc or a tonne of coal," he said.However, he said the deal would make it easier for Teck to do future deals with Chinese companies.
"Any deal that does come along for a ... stake in Fording or anything else Teck decides to sell, that approval process (in China) has basically been taken care of," he said.
CIC was created in 2007 to manage part of China's foreign exchange reserves for higher returns. The $200 billion fund has invested $7.8 billion in Morgan Stanley and has also invested in private equity fund Blackstone.
Source: Reuters
(http://www.reuters.com/article/marketsNews/idAFN0315307920090703?rpc=44&sp=true)
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Monday, 13 July 09
COAL SECTOR IN VIETNAM INCREASE THE TARGET 43 MILLION TONNES THIS YEAR
Asian Mining Stock reported that, there was a change in a very good Coal Mining Industries Group (TKV) that Vietnam has decided to increase coa ...
Saturday, 11 July 09
THE IMPORT OF STEAM COAL FROM INDONESIA & S/A TO INDIA WILL CONTINUE TO INCREASE - VISTAAR
COALspot.com ( Singapore): Vistaar Shipping, an experienced ship operator in Singapore said, The market continued to be soft this with doubts a ...
Friday, 10 July 09
DMO AND ICPR AIMED AT SECURING DOMESTIC COAL SUPPLY
COALspot.com (Indonesia): According to website of DGCMG, the implementation of coal Domestic Market Obligation (DMO) and the Indonesian Coal P ...
Friday, 10 July 09
INDONESIAN MINING LAW IN TRANSITION
Further to the enactment of Law No. 4 of 2009 on Mineral and Coal Mining (“Law 4/2009”), the enactment of various implementing regulatio ...
Thursday, 09 July 09
COAL EXPORTS TO CHINA MAY FALL AS PRICES, SHIPPING RATES RISE
CHINA'S appetite for Australian coal may fall in July and August from earlier highs, due to a recent recovery in regional prices and higher interna ...
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- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Planning Commission, India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
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