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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, 10 August 09
POLICY HURDLES DELAY NALCO'S U$$ 4.166 BILLION OVERSEAS PROJECTS
National Aluminium Company Ltd's (NALCO) greenfield projects in overseas markets like Indonesia and Iran are in limbo because of political
...
Monday, 10 August 09
SAIL, TATA STEEL TO REDUCE COAL IMPORTS BY PARADIP PORT
World Shipping News reported that, Steel Authority of India Ltd (SAIL) and Tata Steel have scaled down coal imports through Paradip Port, hit by pre ...
Monday, 10 August 09
NTPC LIKELY TO SET UP POWER PLANTS IN NIGERIA AND SRILANKA
Economic time reported that, National Thermal Power Corporation Limited (NTPC), country's largest power utility, is likely to set up power plants i ...
Monday, 10 August 09
VINACOMIN TO SELL COAL AT MARKET PRICES TO DOMESTIC USERS
VNBusinessNews.com - Reuters reported that Vietnamese government has agreed to let coal monopoly Vinacomin sell coal at market oriented prices to do ...
Sunday, 09 August 09
TNEB ENNORE PORT CALLS TO TRIPLE COAL OUTPUT
World Shipping News reported that, the Tamil Nadu Electricity Board (TNEB) has asked Ennore Port Ltd (EPL) to increase the port’s installed ca ...
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- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
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