We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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 $19.5 billion investment from state-owned Aluminum Corp. of China.
Rio said in 2007 when announcing its plan to sell Rio Tinto Energy America that the unit was the second-largest U.S. coal producer. Output last year was a record 133.3 million metric tons, including 38.2 million tons from Jacobs Ranch, according to Rio’s annual report.
Peabody Energy Corp. is the largest U.S. coal producer.
Source: Bloomberg
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 20 July 09
INDONESIA PRODUCES 72 MILLION MT IN FIRST HALF OF YEAR: OFFICIAL
Indonesia produced 72 million mt of coal in the first half of 2009, or 31.3% of the government’s target this year, a senior government officia ...
Sunday, 19 July 09
JINDAL S&P IN TALKS TO BUY SA COAL MINE FOR RS 350-400 CR (US$ 80 - 90 MILLION)
Economic Times reported that, Naveen Jindal-led Jindal Steel & Power (JSPL) is acquiring a thermal coal mine in South Africa, a top company exec ...
Saturday, 18 July 09
REN POWER CZ COMMISSIONS ANOTHER PHOTOVOLTAIC POWER STATION
COALspot.com (Press Release): REN Power CZ, a company in the Czech Coal Group, has put into operation another photovoltaic power station. The plant ...
Saturday, 18 July 09
THE FUTURE FOR SUPRAMAX FOR NEXT 3 YEARS TILL 2012 WOULD BE AROUND US$ 13,500 PER DAY - CAPT. REDDY
COALspot.com ( Singapore): The market moved up sharply this week , which was quite unexpected.
The BDI was up by 557 which is an increase of 18 ...
Friday, 17 July 09
CHINA COAL-SPOT PRICES EDGE LOWER, SUPPLY APLENTY
China Mining reported that, spot prices in China's top coal shipping port Qinhuangdao edged lower from a week earlier, as supply grew, offsetting t ...
|
|
|
Showing 6586 to 6590 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Planning Commission, India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
|
| |
| |
|
