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Thursday, 23 December 21
VALE ANNOUNCES THE SALE OF ITS COAL ASSETS
Vale informs that, on this date, it has entered into a binding agreement with Vulcan to sell the Moatize coal mine and the Nacala Logistics Corridor for total proceeds of US$ 270 million, comprised of US$ 80 million at Closing and US$ 190 million from the existing business until Closing; plus a 10-year Royalty Agreement subject to certain mine production and coal price conditions. The Closing of the transaction is subject to the satisfaction of customary conditions precedent, including the approval of the Ministry of Mineral Resources and Energy of Mozambique pursuant to the Mining Law No. 20/2014, and the approval of the Government of Mozambique pursuant to the Concession Agreements for the change of control and antitrust. Vale is committed to work together with both Mozambique and Malawi governments to ensure a smooth transition to the new operator.
Divestment process
In early 2021, Vale announced its objective to no longer own coal assets, focusing on its core businesses and on its ambition to become a leader in low-carbon mining. Over the past 15 years, Vale has worked in partnership with Mozambique and Malawi governments in the implementation of the Moatize mine and NLC’s 912-km railway for coal transportation, in addition to the revamp of general cargo operations and passengers transportation. These investments represent a relevant legacy to the countries and are an important driver for local development. While conducting a responsible search process for an investor in the coal business, Vale continued to support the project’s ramp-up and its commitments to society and stakeholders.
I am pleased to announce this important step for the responsible divestment of Moatize and NLC, in a transaction that benefits the communities and governments where those operations are located and offering a sustainable future for the operations. This is another accomplishment on our commitment to reshape our company, focusing on our core businesses, said Eduardo Bartolomeo, Vale CEO.
Source: Vale
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Friday, 16 September 22
WHEN IS A VESSEL'S INCOME EARNING CAPACITY AT RISK? 'CONTROLLED INCOME CAN BE A KEY OF SUCCESS' - MARASCO MARINE
Managing marine risks is not an easy task, which requires special knowledge and expertise on the subject per se. Customarily, big ship management c ...
Friday, 16 September 22
DRY BULK MARKET: EU’S BAN ON RUSSIAN COAL LIFTS DEMAND DESPITE ECONOMIC HEADWINDS - BIMCO
Highlights
– The Baltic Exchange Dry Index (BDI) peaked in late May and has since fallen sharply as lower Chinese demand and adverse glob ...
Friday, 16 September 22
BIMCO EMBARKS ON NEW STANDARD FOR “QUIET ENJOYMENT”
KNOWLEDGE TO ELEVATE
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing i ...
Friday, 16 September 22
INDIAN COAL PRODUCTION TO RISE 150 PER CENT IN 10 YEARS: CENTRE - EXPRESS NEWS SERVICE
The Union Ministry of Mines is expecting 150 per cent growth in coal production 10 years down the line as a result of coal reforms that had been us ...
Thursday, 15 September 22
MARKET INSIGHT - INTERMODAL
While the Organization of Petroleum Exporting Countries and its allies agreed on a 100,000 b/d output cut last week, oil flows are in the spotlight ...
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- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Planning Commission, India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
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