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.
|
|
Tuesday, 01 September 09
THREE COAL INVESTMENTS AND A SECTOR ON FIRE
With recession fears fading into the past in Asia and growth increasingly back on track in the West, global energy demand is again surging. It's no ...
Tuesday, 01 September 09
GLOBAL COAL PRICES UNDER PRESSURE AS CHINESE PROVINCE RETURNS TO THE PRODUCTION FRAY - REUTERS
China is set to return to role of coal exporter as the deadline for thousands of small coal mines in its Shanxi province to reopen after being shut ...
Tuesday, 01 September 09
INDONESIA PLN SECURES 1.9 MILLION TONNES COAL FOR NEW POWER PLANT
Reuters reported that Indonesia's state electricity firm PT Perusahaan Listrik Negara has secured 1.9 million tonnes of sub bituminous coal per yea ...
Tuesday, 01 September 09
EXPORT OF COAL RAW MATERIAL SHOULD BE REDUCED - INDONESIAN OFFICIAL
Antara reported that, Coal producing companies should reduce the volume of their export of coal raw material and increase the volume of their finish ...
Tuesday, 01 September 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 23%, SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 23 percent ...
|
|
|
Showing 6456 to 6460 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Australian Coal Association
- The University of Queensland
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- PTC India Limited - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
|
| |
| |
|
