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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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Saturday, 23 July 22
STABILITY OF RUSSIAN GAS FLOWS REMAIN UNCERTAIN, DESPITE THE REOPENING OF NORD STREAM - WOOD MACKENZIE
Gazprom confirmed today that regular annual maintenance of Nord Stream is officially over and gas flows restarted at 63 million cubic metres per da ...
Friday, 22 July 22
MARKET INSIGHT - INTERMODAL
Faced with uncertainty regarding the most cost-efficient alternative fuels and the future dominant method to reduce their greenhouse emissions, man ...
Friday, 22 July 22
YANCOAL AUSTRALIA CUTS 2022 COAL OUTPUT VIEW AS FLOODS, COVID BITE - REUTERS
Coal miner Yancoal Australia Ltd YAL.AX cut its 2022 output forecast on Wednesday, signalling a hit from higher-than-expected rainfall, COVID-19-le ...
Wednesday, 20 July 22
BOOST FOR BIOFUELS AS IMO REMOVES REGULATORY HURDLE - GARD
MARPOL Annex VI regulations were written for petroleum derived fuels but also apply to biofuels. It has been a challenge to meet the regulatory req ...
Wednesday, 20 July 22
INDONESIA’S COAL EXPORTS TO THE EU INCREASED SIGNIFICANTLY RECENTLY
European countries have increased coal imports from Indonesia due to the energy crisis that hit the region after Russia cuts gas exports to Europe. ...
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- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Planning Commission, India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Australian Coal Association
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- The University of Queensland
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
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