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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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Monday, 14 September 09
INDONESIAN GOVT UPBEAT ABOUT $1.5B, 185-KM COAL RAILWAY PROJECT
In addition to a 30-year concession right, the government will also award a competitive pricing scheme as an incentive to lure investors in a US$1.5 ...
Monday, 14 September 09
BOOM FORECAST FOR COAL OUTPUT
SMH.com reported that, A COAL investment boom is driving Australian production to new peaks even as our biggest export markets shift towards cleaner ...
Sunday, 13 September 09
COAL INDIA MAY ACQUIRE ASSETS OF RIO TINTO
Coal India’s plan to acquire overseas mining assets is gathering steam. After a breakthrough in Mozambique, the coal behemoth has received&nbs ...
Saturday, 12 September 09
THE INDIA / FAR EAST SEEMS WILL CONTINUE TO BE SOFT UNTIL THE IRON ORE MOVEMENTS PICKS UP - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market continued to be stable at almost as same levels as last week and the BDI was at 2,468 points.
...
Saturday, 12 September 09
GOVT REQUESTS MORE TIME TO ACQUIRE 21% SHARES IN NNT
The Jakarta Post reported that, the government plans to request a postponement for the acquisition of 21 percent shares in PT Newmont Nusa Tenggara ...
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Showing 6426 to 6430 news of total 6871 |
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- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
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