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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, 24 August 09
10,000 MW TO BE GENERATED THROUGH THAR COAL RESERVES BY 2020
Four projects of 2450 MW approved; govt to invest Rs80bn in five years on infrastructure
The News Pakistan reported that, The Thar Coal a ...
Monday, 24 August 09
10 LAKH (1 MILLION) TONNE COAL BURNT IN KPT
Times of India reported that, In an unusual phenomenon, 10 lakh tonne coal cache stored at a plot in Kandla Port Trust was reduced to ashes after it ...
Monday, 24 August 09
LANCO IN TALKS FOR INDONESIAN COAL MINE
Economic Times of India reported that, Infrastructure company Lanco Infratech is in advanced talks with Indonesian engineering, procurement and cons ...
Saturday, 22 August 09
'THE BDI IS LIKELY TO BE HOLDING AROUND 2,500 POINTS' - SHIPPING UPDATE
COALspot.com (Singapore): The dry bulk market continued to be soft and the BDI dropped by 10 percent this week and closed at 24,68 points this week. ...
Saturday, 22 August 09
INDIAN COAL BUYERS RE-EMERGE WITH FRESH TENDERS
Reuters world's largest international multimedia news agency reported that,Indian coal end-users have re-emerged after a few weeks with several fre ...
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- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
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- White Energy Company Limited
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
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- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
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- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
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- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
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- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
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- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
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- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Australian Coal Association
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Planning Commission, India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
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