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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 $19.5 billion investment from state-owned Aluminum Corp. of China.
Rio said in 2007 when announcing its plan to sell Rio Tinto Energy America that the unit was the second-largest U.S. coal producer. Output last year was a record 133.3 million metric tons, including 38.2 million tons from Jacobs Ranch, according to Rio’s annual report.
Peabody Energy Corp. is the largest U.S. coal producer.
Source: Bloomberg
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Monday, 17 August 09
COAL IMPORTS SURGE IN H1
China is one of the world's leading coal producers. But even so, imports of coal have surged in the first half of the year, hitting a record in Jun ...
Monday, 17 August 09
CHINESE COAL PURCHASE COULD START A TREND
ABC Rural reported that, The takeover of a major Australian coal mining company by Chinese-owned Yanzhou has raised fears coal markets could be domi ...
Saturday, 15 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The dry bulk market continued to be soft in the beginning of the week, however towards to end of the week the BDI recovere ...
Friday, 14 August 09
ASIA GREEN TO SELL MORE COAL
I Stock Analyst reported that, Asia Green Energy Plc (AGE) aims to increase its coal sales by 20 percent to 1 million tonnes this year, given the gl ...
Friday, 14 August 09
INDONESIA COAL-PRICES FALL TO $74, INDIA EYES SEPT CARGOES
Reuters reported that, Prices of power-station coal from Australia fell to around $74 a tonne as demand eased, while Indian buyers started to look f ...
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- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
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- Formosa Plastics Group - Taiwan
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- Miang Besar Coal Terminal - Indonesia
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- European Bulk Services B.V. - Netherlands
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- India Bulls Power Limited - India
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- Chamber of Mines of South Africa
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- Renaissance Capital - South Africa
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- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
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- Antam Resourcindo - Indonesia
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- Trasteel International SA, Italy
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- The University of Queensland
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
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- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
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- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
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- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
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- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
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- Sakthi Sugars Limited - India
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