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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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Wednesday, 13 July 22
MARKET INSIGHT - INTERMODAL
Taking the previous market insight a step further, market sentiment remains bullish regarding the overall ROI of scrubbers, facing tailwinds from a ...
Friday, 08 July 22
AUSTRALIAN COAL PRICE BREAKS AGAIN LEVEL US$ 400/TON!, UP AROUND 4% - CNBC INDONESIA
Coal prices shot up again and crossed the level of US$ 400 per ton. On Thursday (7/7/2022) trading, the selling price of August contract closed at ...
Friday, 08 July 22
INDONESIA MULLS MORE FREQUENT SETTING OF CRUDE PALM OIL REFERENCE PRICE - REUTERS
Indonesia is considering setting its crude palm oil (CPO) export reference price every two weeks instead of monthly, a senior trade ministry offici ...
Friday, 08 July 22
BUNKER PRICES EXPECTED TO RECOVER LOST GROUND NEXT WEEK - SERGEY IVANOV, MABUX
Over the Week 27, the world bunker indices showed a sharp decline, primarily due to the fall in oil prices on July 05. The 380 HSFO index fell by 5 ...
Thursday, 07 July 22
NTPC MINES 61% MORE COAL AT 4.22 MN METRIC TONNES IN APRIL-JUNE: PTI
State-owned power giant NTPC on Tuesday said that its coal output grew by 61 per cent to Rs 42.40 lakh metric tonnes in April-June quarter from 26. ...
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- Electricity Authority, New Zealand
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- Commonwealth Bank - Australia
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- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Australian Coal Association
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- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
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- Metalloyd Limited - United Kingdom
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- Therma Luzon, Inc, Philippines
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- Thiess Contractors Indonesia
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- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
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- VISA Power Limited - India
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- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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- Parliament of New Zealand
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- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
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- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
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- Bukit Asam (Persero) Tbk - Indonesia
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- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
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- Coal and Oil Company - UAE
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- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
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- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
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- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
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- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
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- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
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