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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, 11 August 09
ZAMBIAN COAL BUYERS CONTINUE IMPORTING COAL FROM ZIMBABWE
Lusaka Times reported that, Coal mining companies have bemoaned the lack of market for their produce as prospective buyers continue importing the co ...
Monday, 10 August 09
NOMINAL HIKE IN COAL PRICES SOON - MEDIA
The hindu business reported that, a marginal hike in coal prices is in the offing. "I will be soon approaching the Prime Minister on the matter ...
Monday, 10 August 09
MANGALAM CEMENT PLACES ORDER FOR CAPTIVE POWER PLANT
Steel Guru reported that, Mangalam Cement Ltd has announced that the company on August 6th 2009 finalized order for Captive Thermal Power Plant of 1 ...
Monday, 10 August 09
VIET NAM COAL EXPORTS HIT 13.5 MILLION TONNES
VietNamNet Bridge reported that, Viet Nam exported more than 13.5 million tonnes of coal in the first seven months of this year, equal to the same p ...
Monday, 10 August 09
S.KOREA KOSPO ISSUES SPOT, TERM COAL TENDERS
Korea Southern Power Co Ltd (KOSPO) is seeking 1.5 million tonnes of steam coal per year for delivery from October 2009 through September 2012 via a ...
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- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
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