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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, 19 July 22
DRY BULK MARKET: CAPESIZE MARKET FIRMS THIS WEEK - BALTIC EXCHANGE
Capesize
Firmer sentiment across both basins pushed the Capesize 5TC route average above the $20,000 threshold this week, closing at $24,209. A ...
Tuesday, 19 July 22
WHY SHIPPING MIGHT BE ABOUT TO GET A LITTLE BIT SLOWER - WORLD ECONOMIC FORUM
If shipping is the beating heart of global trade, its pulse is about to get slower.
Faced with uncertainty about which fuels to use in the long ...
Tuesday, 19 July 22
GERMANY'S INCREASED COAL, OIL USE WILL BE TEMPORARY, SCHOLZ SAYS - CNBC
Chancellor Olaf Scholz says Germany’s decision to reactivate coal and oil-fired power plants to relieve energy shortages because of the war i ...
Tuesday, 19 July 22
INDONESIA REMOVES PALM OIL EXPORT LEVY UNTIL AUG. 31 - REUTERS
Indonesia has scrapped its export levy for all palm oil products until Aug. 31 in a fresh attempt to boost exports and ease high inventories, finan ...
Tuesday, 19 July 22
CHINA'S JUNE DAILY COAL OUTPUT JUMPS ON PEAK SUMMER DEMAND - REUTERS
China’s daily coal output in June rose 6.6 per cent from a month earlier as miners cranked up output ahead of peak summer temperatures, when ...
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- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Planning Commission, India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Parliament of New Zealand
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
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