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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 $19.5 billion investment from state-owned Aluminum Corp. of China.
Rio said in 2007 when announcing its plan to sell Rio Tinto Energy America that the unit was the second-largest U.S. coal producer. Output last year was a record 133.3 million metric tons, including 38.2 million tons from Jacobs Ranch, according to Rio’s annual report.
Peabody Energy Corp. is the largest U.S. coal producer.
Source: Bloomberg
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Friday, 14 August 09
GUACOLDA STARTS THIRD COAL-FIRED UNIT
Macorship reported that, Chile’s Empresa Electrica Guacolda said that the third unit at its Guacolda coal-fired power plant began supplying po ...
Thursday, 13 August 09
NOBLE'S PROFIT DOUBLES ON GLOUCESTER COAL ACQUISITION
Bloomberg reported that, Noble Group Ltd., a Hong Kong-based supplier of raw materials from soybeans to coal, said second- quarter profit more than ...
Thursday, 13 August 09
CHINA COAL-PRICES UNCHANGED, BUT LIKELY TO MOVE HIGHER
Alibaba reported that, Spot coal prices in China's top coal port Qinhuangdao were unchanged from a week earlier, but are still looking bullish in t ...
Thursday, 13 August 09
INDONESIA'S BERAU COAL SEES 2010 OUTPUT UP 16 PCT
Reuters reported that, Indonesia's fifth-largest coal miner, PT Berau Coal, expects 2010 production to be nearly 16 percent higher than this year, ...
Thursday, 13 August 09
JAYPEE GROUP. L&T INK RS 4,000-CRORE (US$ 824,818,084) DEAL
Second order bagged by L&T in the supercritical segment.
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has s ...
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- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Planning Commission, India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
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