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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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Wednesday, 02 February 22
COAL STORAGE IN CHINA’S POWER PLANTS NEAR RECORD HIGHS - XINHUA
Coal inflows into China’s power plants have picked up, bringing their coal storage to near record highs, the National Development and Reform ...
Wednesday, 02 February 22
MARKET INSIGHT - INTERMODAL
Oil prices have rallied to the highest level since October 2014 breaking above $90/bbl recently. November 2014 was the point when OPEC unleashed pr ...
Monday, 31 January 22
HOW INDONESIA'S COAL EXPORT BAN COULD IMPACT INDIA - IEEFA
What does it mean for power generation and energy security?
Not long ago, India faced coal shortages due to a decline in domestic co ...
Sunday, 30 January 22
AIR PRODUCTS' COAL GASIFICATION PROPOSAL TRIGGERS LOOMING POLICY DISPUTES IN INDONESIA - IEEFA
Plan to substitute Indonesia’s LPG imports with dimethyl ether may be hard to realize due to conflicting business interests
In ...
Sunday, 30 January 22
ENDGAME FOR NEW COAL POWER PROJECTS? - IEEFA INDIA
Retired coal units must be replaced only by assets that can provide grid flexibility
Reportedly, an expert committee appointed by th ...
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- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Australian Coal Association
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
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