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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, 08 March 22
RUSSIA-UKRAINE CONFLICT ADDS IMPETUS TO ASIA'S ENERGY TRANSITION - IEEFA
Clean energy alternatives are a crucial hedge against future disruptions in global commodity markets
Russia’s invasion of Ukra ...
Tuesday, 08 March 22
THE HIGH COST OF INDONESIA’S DOWNSTREAM COAL PROJECTS IS UNDERESTIMATED - IEEFA
Three Indonesian ministries have come up with a DME purchase price of US$378/tonne fixed for 20 years compared to IEEFA’s US$601/tonne estima ...
Wednesday, 02 March 22
SHIPPING MARKET INSIGHT - INTERMODAL
The escalating confrontation between Russia and Ukraine has the potential to disrupt global order and set the world back a few decades. While count ...
Tuesday, 22 February 22
THE DRY BULK MARKET HAS MOVED ON A POSITIVE TRACK - ALLIED
The dry bulk market has moved on a positive track as of the past couple of weeks or so. Following the typical softening in freight conditions durin ...
Tuesday, 22 February 22
CHINA'S DAILY OUTPUT OF COAL REBOUNDS TO OVER 12 MLN TONNES - REUTERS
China’s coal output returned to more than 12 million tonnes per day as of Feb. 20, the country’s state planner said on Monday, a level ...
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- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
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