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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, 29 July 22
GLENCORE TO SUPPLY COAL TO NIPPON STEEL AT $375 PER TON - BLOOMBERG
Glencore Plc, agreed to supply coal to Nippon Steel at one of the highest prices ever paid by the Japan Bloomberg reported on July 27.
...
Friday, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according ...
Thursday, 28 July 22
CREW FAMILIARISATION IS CRITICAL WHEN TAKING OVER A VESSEL - WEST P&I CLUB
Knowledge to Elevate
When a vessel changes ownership and/or manager, it can take some considerable time before the new crew and mana ...
Thursday, 28 July 22
RETURN OF COAL A THREAT TO EUROPEAN COMPANIES' ESG RATINGS - REUTERS
European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them ...
Wednesday, 27 July 22
MARKET INSIGHT - INTERMODAL
Amid the upcoming ban on Russian coal from the EU, which will be in full effect on August 10th, EU nations have been accelerating their coal import ...
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- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Planning Commission, India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- The University of Queensland
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
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