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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 $19.5 billion investment from state-owned Aluminum Corp. of China.
Rio said in 2007 when announcing its plan to sell Rio Tinto Energy America that the unit was the second-largest U.S. coal producer. Output last year was a record 133.3 million metric tons, including 38.2 million tons from Jacobs Ranch, according to Rio’s annual report.
Peabody Energy Corp. is the largest U.S. coal producer.
Source: Bloomberg
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Saturday, 08 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market tumbled this week and the BDI dropped by almost 17% and closed at 2,772 points.
The cape and panam ...
Saturday, 08 August 09
SULTAN MINING SIGNS P8-BILLION, 10-YEAR COAL-SUPPLY CONTRACT WITH KEPCO POWER CORP.
COAL developer Sultan Mining and Energy Development Corp. (SMEDC) reported on Thursday that its subsidiary MG Mining and Energy Corp. signed an P8-b ...
Friday, 07 August 09
NEED TO HIKE DOMESTIC PRICES - COAL INDIA
WSJ reported that, The chairman of Coal India Ltd., the country's biggest coal producer, Friday said there was a need to hike domestic coal prices ...
Friday, 07 August 09
INDONESIA COAL NEWS UPDATES
PTBA to Produce 13 Million Tons
President Director of Tambang Batubara Bukit Asam (PTBA), Sukrisno has estimated coal production of the company th ...
Friday, 07 August 09
BALTIC DRY INDEX HAS WORST WEEK SINCE OCTOBER AS DEMAND SLOWS
Bloomberg reported that, The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October as Chinese demand for s ...
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- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- MS Steel International - UAE
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
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