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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 $7.8 billion in Morgan Stanley and has also invested in private equity fund Blackstone.
Source: Reuters
(http://www.reuters.com/article/marketsNews/idAFN0315307920090703?rpc=44&sp=true)
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Tuesday, 07 July 09
TATA POWER AID THE INDONESIAN COAL MINES
BL reported that Mr Prasad Menon MD of TATA Power aid the Indonesian coal mines PT Kaltim Prima Coal and PT Arutmin Indonesia in which TATA Power ha ...
Tuesday, 07 July 09
ECONOMIC SURVEY 2008-09 OPEN UP COAL TO FUEL POWER PLANTS
TOI reported that the coal ministry's efforts at opening doors for full private entry through open bidding in coal mining got a boost, with the Eco ...
Tuesday, 07 July 09
POWER - STATION COAL MAY RISE ON CHINA DEMAND, SUPPLIES, UBS SAYS
Power-station coal prices in Asia may increase in 2010 because of higher demand from China, the second-largest energy-consuming nation, and supply c ...
Saturday, 04 July 09
FREIGHT FUTURE FOR 3 YEARS UNTIL 2012 WAS FAIRLY SOFT AROUND PANAMAX / US$ 16,000, SUPRAMAX / US$ 13,000 PER DAY
COALspot.com (Singapore): According to Vistaar shipping, an experinced ship operator in Singapore, the freight market was soft with bit nervousness ...
Saturday, 04 July 09
MINING CONTRACT SOUGHT FOR COAL AREA IN MASBATE
Because of its coal deposits, a town in Masbate is one of the sites in the country being sought out for exploration and development by mining compan ...
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- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Economic Council, Georgia
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- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
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- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Australian Coal Association
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
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