We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 12 August 09
COAL INDIA TO IMPORT 4 MLN T 2009/10 - MEDIA
State-run Coal India Ltd plans to directly import 4 million tonnes of coal in the current fiscal year to March 2010, Chairman Partha Bhattacharyya s ...
Wednesday, 12 August 09
CHINA'S LARGEST COAL PRODUCER TO SET UP COAL RESERVES
China's National Development and Reform Commission has commissioned China Shenhua Energy Co., the nation's largest coal producer, to build 10 stor ...
Wednesday, 12 August 09
NALCO SMELTER CONSTRUCTION MAY FACE DELAY
The Jakarta Post reported that, India’s state-run National Aluminum Company (Nalco) may postpone the construction of an aluminum smelter in In ...
Wednesday, 12 August 09
COAL MINE PLAN SHOT DOWN OVER GREEN CONCERNS
The Times of India reported that, In a major setback to Adani Powers, the principal chief conservator of forests (PCCF) has rejected its proposal fo ...
Tuesday, 11 August 09
INDONESIA'S COAL EXPORTS TO INDIA WILL BE EXEMPTED FROM DUTIES STARTING JANUARY 1, 2013 - BERITA SORE
Berita sore reported that, ASEAN is scheduled to sign a long-awaited Free Trade Agreement (FTA) with India in Bangkok on Thursday aimed at boosting ...
|
|
|
Showing 6511 to 6515 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Mercator Lines Limited - India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
|
| |
| |
|
