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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, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
Monday, 21 March 22
A FORCE MAJEURE TO BE RECKONED WITH - BALTIC EXCHANGE
Sanctions cause payment confusion
This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercis ...
Monday, 21 March 22
CHINA'S COAL OUTPUT UP 10.3 PCT IN FIRST TWO MONTHS - XINHUA
China’s raw coal output posted fast growth in the first two months of 2022, while coal imports continued to shrink, official data showed.
...
Tuesday, 15 March 22
INDUSTRY VETERANS & ORGANIZATIONS HONOURED WITH THE PRESTIGIOUS SHIPTEK INTERNATIONAL AWARDS 2022
Press Release: The 15th edition of the prestigious ShipTek International Conference & Awards 2022 concluded successfully from March 7th - 8th 2 ...
Tuesday, 15 March 22
CHINA'S COAL OUTPUT GROWS TO STABILIZE MARKET SUPPLY - XINHUA
China’s coal market has seen growth in output since late February amid the country’s efforts to stabilize production and ensure supply, ...
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- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
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