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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, 26 July 22
CAP RUSSIA'S OIL PRICE NOW - PROJECT SYNDICATE
Though the price of oil has declined in recent weeks, it is still through the roof, filtering through to gasoline prices, and causing economic and ...
Tuesday, 26 July 22
WILL SOUTH AMERICA’S WINTER DEMAND DRAW LNG CARGOES AWAY FROM EUROPE? - ICIS
South America is now in the middle of its winter demand season. Last year the region increased its share of global LNG imports in winter, with Braz ...
Monday, 25 July 22
GLOBAL 2021 COAL-FIRED ELECTRICITY GENERATION SURGES TO RECORD HIGH - REUTERS
By contrast, mine output was still fractionally below the record set between 2012 and 2014 because older and less efficient coal generators have be ...
Saturday, 23 July 22
THE EU HAS BEEN REDUCING IMPORTS OF RUSSIAN REFINED OIL PRODUCTS SINCE MARCH - BANCHERO COSTA
The European Union could now ban the import and transit of fuel oil from Russia around six months ahead of the planned deadline, an EU official and ...
Saturday, 23 July 22
INDONESIA CONSIDERING SCRAPPING DOMESTIC SALES RULE FOR PALM OIL EXPORTS - REUTERS
Indonesia is considering removing a domestic sales requirement for palm oil exports because high inventories of the vegetable oil have been holding ...
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- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- PTC India Limited - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
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