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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 $19.5 billion investment from state-owned Aluminum Corp. of China.
Rio said in 2007 when announcing its plan to sell Rio Tinto Energy America that the unit was the second-largest U.S. coal producer. Output last year was a record 133.3 million metric tons, including 38.2 million tons from Jacobs Ranch, according to Rio’s annual report.
Peabody Energy Corp. is the largest U.S. coal producer.
Source: Bloomberg
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Friday, 28 August 09
COAL MINE BUYERS DUST OFF THEIR CASH ( ANALYZED BY REUTERS)
* Coal asset buyers give up waiting for bargains
* Mining majors expected to buy not sell
* South Africa a target, Indonesia less so
By Jackie ...
Friday, 28 August 09
JSW MAY BUY AFRICAN MINE FOR US$ 350
The Economic Times Reported that, The Sajjan Jindal-owned JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimate ...
Friday, 28 August 09
COAL INDIA ALLOWED TO IMPORT COKING COAL
The government Thursday allowed the state-owned Coal India to import coking coal and high grade ash thermal coal by acquiring coal properties abroad ...
Thursday, 27 August 09
CIL TO SPEND US$ 1 - 1.5 BN TO ACQUIRE ASSETS IN 4 COUNTRIES
Business Standard reported that, "Coal India is looking to spend $1-1.5 billion in acquiring mining assets in Australia, Indonesia, South Afric ...
Wednesday, 26 August 09
INDIA'S JSW TO DOUBLE JAIGARH PORT CAPACITY TO 20 MT
Sea Trade Asia reported that, JSW Jaigarh Port, a wholly owned subsidiary of JSW Infrastructure & Logistics, plans to double cargo handling capa ...
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- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Australian Coal Association
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
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- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- The University of Queensland
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- White Energy Company Limited
- Economic Council, Georgia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
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