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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 $19.5 billion investment from state-owned Aluminum Corp. of China.
Rio said in 2007 when announcing its plan to sell Rio Tinto Energy America that the unit was the second-largest U.S. coal producer. Output last year was a record 133.3 million metric tons, including 38.2 million tons from Jacobs Ranch, according to Rio’s annual report.
Peabody Energy Corp. is the largest U.S. coal producer.
Source: Bloomberg
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Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring ...
Wednesday, 26 August 09
COAL INDIA MAY HIKE COAL PRICES BY UP TO RS 175 (ABOUT US$ 3.60) A TONNE
The Economic Times reported that, state-owned Coal India may hike coal prices by up to Rs 175 (~ US$ 3.60) a tonne to close the gap between domestic ...
Tuesday, 25 August 09
KOREA TO INTRODUCE COAL-MINING ROBOTS TO REDUCE THE RISK OF HUMAN LOSSES FROM CONVENTIONAL MINING
Far East Gizmos reported that, The state-run Korea Coal Corp. (KOCOAL) signed a memorandum of understanding (MOU) on Monday with three Korean engine ...
Tuesday, 25 August 09
INDIA'S GNFC EXTENDED ONLINE BIDDING FOR PURCHASE OF 260,000 T COAL TO 23RD SEPTEMBER 2009
COALspot.com (India): Gujarat Narmada Valley Fertilizers Co. Ltd. (GNFC) invites offers (e-Tender) for supply of 130,000 MT +/- 5% on firm basis and ...
Tuesday, 25 August 09
ANTAM CONSIDERS ACQUIRING BHP
The Jakarta Post reported that, State mining company PT Aneka Tambang (Antam) is contemplating acquiring BHP Billiton's coal concessions in Central ...
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- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- MS Steel International - UAE
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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