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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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Tuesday, 23 August 22
SHIPPING INDUSTRY TO REMOVE THE INDIAN OCEAN HIGH RISK AREA - BIMCO
After more than a decade of effective threat-reducing counter-piracy operations the shipping industry has removed the ‘Indian Ocean High Risk ...
Tuesday, 23 August 22
SHIPPING: GLOBAL TAX REFORM - WATSON FARLEY & WILLIAMS
OECD rules designed to implement a global minimum corporate tax rate for very large multinational groups have now been published and are expected t ...
Tuesday, 23 August 22
PARTIES CONCLUDE JOINT R&D AGREEMENT FOR WORLD’S FIRST AMMONIA FLOATING STORAGE AND REGASIFICATION BARGE CONTRIBUTING TO PROMOTING THE EARLY INTRODUCTION OF AMMONIA FUEL - NYK
NYK Line, Nihon Shipyard Co., Ltd. (NSY), ClassNK, and IHI Corporation (IHI) signed a joint research and development agreement for the commercializ ...
Monday, 22 August 22
INDONESIAN GOVERNMENT IMPOSED ON NEW PROGRESSIVE ROYALTIES FOR COAL
Indonesian President Joko Widodo has signed a Government Regulation (Number 26 of 2022) on 15 August 2022 related to the progressive royalty rates ...
Monday, 22 August 22
CHINA'S JULY RUSSIAN COAL IMPORTS HIT 5-YR HIGH AS WEST SHUNS MOSCOW - REUTERS
China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted c ...
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- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
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