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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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Thursday, 30 June 22
FINANCIAL GAINS SUPPORT COAL TRANSITION - BALTIC EXCHANGE
Support for the shift away from coal dependency continues to mount, with the International Monetary Fund (IMF) calculating that the move would gene ...
Thursday, 30 June 22
WHY ARE LNG SHIPPING STOCKS RESILIENT? - DREWRY
LNG shipping stocks are proving resilient despite uncertainties about growth in global GDP, high inflation and the ongoing geopolitical crisis caus ...
Thursday, 30 June 22
SPOT AUSTRALIAN THERMAL COAL HAS SURGED, BUT CONTRACT PRICE IS KEY - REUTERS
The spot price of Australian thermal coal is higher than that of coking coal, an unprecedented situation that highlights just how the global market ...
Thursday, 30 June 22
SHANXI PROVINCE RAISES ANNUAL COAL OUTPUT TO 1.3 BILLION TONS TO ENSURE CHINA’S ENERGY SUPPLY - GLOBAL TIMES
North China’s Shanxi Province, a major coal-producing region, recently announced a move to increase its annual coal production output by 107 ...
Thursday, 30 June 22
DIVERGENCE BETWEEN HIGH- AND LOW-GRADE THERMAL COAL PRICES IN APAC TO NARROW - FITCH RATINGS
Prices between high- and low-grade thermal coal in Asia-Pacific (APAC) have diverged since late March 2022, but Fitch Ratings expects the gap to na ...
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- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
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