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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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Tuesday, 18 August 09
BANPU TO FOCUS ON CORE BUSINESS
Banpu, the country's leading energy firm, expects to conclude its four-year strategic plan next month, resulting in a strengthening of its core bus ...
Monday, 17 August 09
COAL EXPORTS CONTINUE DESPITE SHORTAGE
Vietnam News reported that, Viet Nam is exporting more coal despite a warning from experts that the country could face a shortage of this fossil fue ...
Monday, 17 August 09
S.KOREA JULY COAL IMPORTS UP TO 8.97 MLN T
* Imports of heating coal in July up 3.7 percent on year
* LNG imports in July fall for seventh straight month
Alibaba reorted that, South Kore ...
Monday, 17 August 09
COAL INDIA PLANS A PRICE HIKE OF 11%
With the state-run CIL mining 84% of the coal produced in the country, an 11% increase will push up inflation by around 0.16%, the company said
L ...
Monday, 17 August 09
BANPU SEES INDONESIAN MINE OUTPUT UP 10 PCT IN 2010
Reuters reported that, Thailand's top coal miner, Banpu, said on Monday it expected coal output from its Indonesian mines to rise 10 percent to abo ...
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- Coal and Oil Company - UAE
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- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
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- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
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- SMC Global Power, Philippines
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- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Tamil Nadu electricity Board
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- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
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- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
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- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Parliament of New Zealand
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- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
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- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
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- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
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- Commonwealth Bank - Australia
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- Bukit Asam (Persero) Tbk - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
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- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- White Energy Company Limited
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
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- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
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- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
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- Vizag Seaport Private Limited - India
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- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
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- Indian Oil Corporation Limited
- Australian Coal Association
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- Anglo American - United Kingdom
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