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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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- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- The University of Queensland
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Australian Coal Association
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
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