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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, 17 February 22
MAJOR INSTITUTIONS PROVIDED OVER $1.5 TRLN TO COAL SECTOR IN 2019-2021, SAYS NGO GROUP - REUTERS
Financial institutions channelled more than $1.5 trillion into the coal industry in loans and underwriting from January 2019 to November 2021, even ...
Thursday, 17 February 22
APAC THERMAL COAL PRICES TO EASE ON END OF INDONESIA EXPORT BAN - FITCH RATINGS
Fitch Ratings-Shanghai/Singapore-14 February 2022: APAC thermal coal prices are likely to come under pressure in the near term due to seasonally we ...
Tuesday, 15 February 22
IS ANOTHER COAL SHORTAGE CRISIS LOOMING OVER INDIA? - BUSINESS STANDARD
In December last year, the Federation of Indian Mineral Industries (FIMI) shot off a letter to the Prime Minister claiming that the coal crisis was ...
Tuesday, 15 February 22
THERMAL COAL'S RECORD PRICE RUN MAY END UP ITS OWN WORST ENEMY - REUTERS
The price of benchmark Australian thermal coal rose last week to trade near record highs, providing a short-term boost to producers but increasing ...
Thursday, 10 February 22
INDONESIA: COAL EXPORT BAN - SKULD
Indonesia's coal export ban in the light of force majeure and off-hire clauses
In January 2022, Indonesia, the world's biggest exporte ...
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- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
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