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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 $19.5 billion investment from state-owned Aluminum Corp. of China.
Rio said in 2007 when announcing its plan to sell Rio Tinto Energy America that the unit was the second-largest U.S. coal producer. Output last year was a record 133.3 million metric tons, including 38.2 million tons from Jacobs Ranch, according to Rio’s annual report.
Peabody Energy Corp. is the largest U.S. coal producer.
Source: Bloomberg
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Friday, 24 July 09
INDIA TAKES 9 MILLION TONNES S. AFRICAN COAL JAN - JUNE
Reuters reported that, India accounted for nearly 9 million tonnes of South Africa's January-June exports of around 28 million tonnes, industry sour ...
Thursday, 23 July 09
KOMIPO LAUNCHES TWO COAL TENDERS
Korea Midland Power on Wednesday launched two tenders to procure bituminous or semi-anthracite coal for August to September delivery. Bids close on J ...
Thursday, 23 July 09
GUANGDONG BUYERS SET TO IMPORT 2.3 MILLION MT FROM VIETNAM - MEDIA
Several coal-consuming companies in China’s Guangdong Province, headed by Guangdong Yudean Group (Guangdong Power Generation Group), have inke ...
Thursday, 23 July 09
KEPCO BUYS 1.5% STAKE IN ADARO ENERGY FOR US$ 56.5M
WSJ reported that, state-run utility Korea Electric Power Corp., or Kepco, Thursday said it has acquired a 1.5% stake in Indonesian coal miner, PT A ...
Thursday, 23 July 09
INDONESIA COAL-PRICES CLIMB TO $80, INDIAN DEMAND SLOWS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, jumped to nearly $80 a tonne this week, while Indonesi ...
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- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- The University of Queensland
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
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