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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, 11 June 22
AIMTEK INTERNATIONAL CONFERENCE AND AWARDS
Press Release: The prestigious AIMTEK International Conference and Awards concluded successfully on June 7th, 2022 at Radisson Blu, Yas Island Abu ...
Thursday, 26 May 22
MARKET INSIGHT - INTERMODAL
The newbuilding market activity has been significantly positive from a dry bulk owner perspective during the first half of 2022. Indeed, the contra ...
Wednesday, 18 May 22
INDONESIAN COAL PRICE REFERENCE DROPPED 4.42% IN MAY
COALspot.com: Indonesian Coal Price Reference for May delivery drops 4.42 per cent month on month.
The Indonesian Coal Price Referen ...
Thursday, 12 May 22
MARKET INSIGHT - INTERMODAL
Almost through half of the year, the overall shipping market continues to show signs of healthiness, after plenty of festivities and holidays that ...
Wednesday, 27 April 22
EUROPEAN UNION'S LNG IMPORTS - BANCHERO COSTA
In 2021, the European Union (27) was the third largest seaborne importer of LNG in the world, with a 15.8% share.
It followed Mainla ...
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- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- The University of Queensland
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
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