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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 $19.5 billion investment from state-owned Aluminum Corp. of China.
Rio said in 2007 when announcing its plan to sell Rio Tinto Energy America that the unit was the second-largest U.S. coal producer. Output last year was a record 133.3 million metric tons, including 38.2 million tons from Jacobs Ranch, according to Rio’s annual report.
Peabody Energy Corp. is the largest U.S. coal producer.
Source: Bloomberg
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Monday, 31 August 09
INDIA MMTC ISSUE TENDER TO IMPORT 12.5 MMT COAL TO BE SUPPLIED OVER A PERIOD OF 12 MONTHS
COALspot.com (India): MMTC has re-issued a tender to import 12.50 Million Metric Tonnes (12.50 MMT) (+/- 2%) of thermal coal to be supplied over a p ...
Monday, 31 August 09
INDONESIA ADARO'S NET PROFIT SOARS 1,506 PERCENT ON HIGH PRICES
The Jakarta Post reported that, the country's second largest coal producer, PT Adaro Energy said Sunday that its first-half net profit soared 1,506 ...
Sunday, 30 August 09
THE FUTURES FOR THREE YEARS FOR 2010-2012 IS AROUND PANAMAX / US$ 15,500 & SUPRAMAX / US$ 13,500 PER DAY
COALspot.com (Singapore): The dry bulk market continued to be soft this week and the BDI was almost stable and closed at 2,421 points this week.
...
Friday, 28 August 09
INDONESIA SEEKS TO INCREASE COAL PRODUCTION TO BOLSTER REVENUE
The Jakarta Post, the leading english news paper in Indonesia reported that, Indonesia expects to increase coal production by up to 20 million tons ...
Friday, 28 August 09
MERCURIA ENERGY OPENS INDONESIA TRADING OFFICE
COALspot.com ( Indonesia): Mercuria Energy Group has opened a new office in Jakarta, Indonesia, focussed on trading coal.
Jakarta-based Emanuele ...
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- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Planning Commission, India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
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