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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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Monday, 12 September 22
COAL PRICE HIKE REMAINS DIFFICULT FOR CIL: CHAIRMAN TELLS ANALYSTS - PTI
Coal India on Thursday informed investors that increasing coal prices remains difficult in the current context when the economy is grappling with h ...
Friday, 09 September 22
GREECE WILL KEEP COAL-FIRED PLANTS RUNNING FOR LONGER AMID GAS CRISIS - REUTERS
Greece will keep seven coal-fired plants running for longer than previously planned as European countries adjust to a cut in gas flows coming from ...
Friday, 09 September 22
CHINA'S DROUGHT INTENSIFIES GLOBAL COAL SHORTAGE - REUTERS
China’s drought has sent coal prices surging as traders anticipate the lack of hydroelectric generation will force it to burn more coal to me ...
Thursday, 08 September 22
MOODY.S AFFIRMS ABM INVESTAMA'S B1 RATINGS FOLLOWING PLANNED MINORITY INVESTMENT IN COAL MINER; OUTLOOK STABLE
Moody's Investors Service has affirmed ABM Investama Tbk (P.T.)'s B1 corporate family rating (CFR), along with the B1 rating on its senior ...
Thursday, 08 September 22
MARKET INSIGHT - INTERMODAL
While the energy markets are historically stretched, Russian flows of crude oil are closely monitored as the oil trade is ultimately realigned. Mor ...
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- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- The University of Queensland
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
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