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Thursday, 13 August 09
RIO PREPARES COAL IPO AFTER FAILING TO FIND BUYER
 Bloomberg reported that, Rio Tinto Group, the world’s third- largest mining company, is preparing an initial public offering for its U.S. coal unit after failing to find a buyer.
“We have made the decision that this is our preferred option for divestment,” Rio spokesman Nick Cobban said today by phone from London. Preparation for an IPO “is starting now and is expected to be completed by the end of the year,” he said.
Rio posted a U.S. Securities and Exchange Commission filing yesterday for a share offer of at least $500 million in Cloud Peak Energy Inc., which includes four of the mines in the Rio Tinto Energy America unit located in Wyoming and Montana, Cobban said. The sale, managed by Credit Suisse AG, Morgan Stanley and RBC Capital Markets, won’t include the Colowyo mine, he said.
The $500 million figure is “indicative” rather than reflecting the amount that will be raised, Cobban added.
Rio earmarked the assets for sale in 2007 to help repay debt from the purchase of Canadian aluminum producer Alcan Inc. for $38.1 billion. Planned disposals became more difficult as a global recession pummeled commodity prices. Rio shelved the sale of a unit making borates for glass and ceramics in May after failing to get what it called an “acceptable” price.
Arch Coal Inc., the second-biggest U.S. producer of the energy fuel, agreed in March to pay Rio $761 million for the Jacobs Ranch mine, the biggest mine within Rio Tinto Energy America, according to Rio’s Web site.
Alpha Natural
Alpha Natural Resources Inc. was close to purchasing the remaining mines in May until the U.S. coal producer agreed instead to pay $2 billion for rival Foundation Coal Holdings Inc., said a person familiar with the situation at the time.
The four remaining mines, which produce thermal coal in the so-called Powder River Basin, are Spring Creek, Cordero Rojo, Antelope and a 50 percent stake in the Decker mine, according to Rio’s Web site. The company first lodged the proposal to spin off Cloud Peak with the SEC last August.
The mines, excluding Colowyo, may raise as much as $1 billion, Charles Kernot, a mining analyst at Evolution Securities Ltd. in London who has a “sell” recommendation on Rio shares, wrote today in a report.
“If Rio Tinto can raise the anticipated amount of cash this would be good news for the group,” Kernot wrote. By releasing the filing, Rio may hope that other parties may make “a clean bid for the whole entity,” he added.
Fund Raising
Rio has raised $3.7 billion this year selling Latin American iron ore and potash deposits to Vale SA, part of its Alcan packaging unit to Bemis Co. of the U.S. and a stake in a Chinese aluminum smelter. Australia’s Amcor Ltd. said last month it was studying funding options for the rest of Rio’s packaging unit. Rio said in May it was considering bids for parts of its Alcan engineered products unit.
The company agreed in June to raise $21 billion by selling shares and creating an iron-ore venture with BHP Billiton Ltd., after it scrapped a $19.5 billion investment from state-owned Aluminum Corp. of China.
Rio said in 2007 when announcing its plan to sell Rio Tinto Energy America that the unit was the second-largest U.S. coal producer. Output last year was a record 133.3 million metric tons, including 38.2 million tons from Jacobs Ranch, according to Rio’s annual report.
Peabody Energy Corp. is the largest U.S. coal producer.
Source: Bloomberg
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Friday, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...
Friday, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
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- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
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- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
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- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Minerals Council of Australia
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- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
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- Asmin Koalindo Tuhup - Indonesia
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- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Planning Commission, India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- The University of Queensland
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
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