We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
Wednesday, 16 September 09
NAPOCOR GETS 3 OFFERS IN COAL TENDER
ABS-CBN news reported that, The Philippines' state-run National Power Corp. (Napocor) said on Wednesday it received offers from 3 Indonesian firms ...
Wednesday, 16 September 09
S.KOREA KOSEP BUYS 1.06 MLN T COAL-SOURCE
* 6,080 kcal/kg at $63-65, 4,900-5,350 kcal/kg at $56-58
* Initially about 5 mln T offered for tender
Reuters reported that, Korea South ...
Tuesday, 15 September 09
CHINA COAL EXPORT ROSE M-O-M FOR THE STRAIGHT 3 MONTHS
Alibaba reported that, In the January-August period, China coal exports slid by 55.9% to 14.83mln tons month on month. In August, China exported 1.9 ...
Monday, 14 September 09
CIL MAY REDUCE FLOOR PRICE OF E-AUCTION COAL
After receiving a lukewarm response to the forward e-auction started in two of its subsidiaries, Coal India Limited (CIL) is mulling to reduce the f ...
|
|
|
Showing 6421 to 6425 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- The University of Queensland
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Deloitte Consulting - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
|
| |
| |
|
