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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, 23 December 21
COAL DEMAND TO PEAK IN INDIA BY 2030, WILL BACK UP RENEWABLES: NITI REPORT - BUSINESS STANDARD
Coal will remain India’s mainstay energy source and the country will shape global demand this decade, two reports have said a month after the ...
Thursday, 23 December 21
INDONESIA’S 2022 COAL OUTPUT SEEN BETWEEN 637 MLN-664 MLN T- OFFICIAL - REUTERS
Indonesia’s 2022 coal output is estimated at between 637 million to 664 million tonnes based on production plans currently being finalised, s ...
Thursday, 23 December 21
INDIA: CAPTIVE POWER PRODUCERS URGE GOVT TO ENSURE NORMAL COAL SUPPLIES - PTI
A captive power producers’ association has urged the government for 100 per cent normalisation of coal supply to captive power producers whil ...
Thursday, 23 December 21
MARKET INSIGHT - INTERMODAL
As an outstanding year for the dry bulk freight market comes to a close, so does a thriving year for the SnP market which can only be compared to 2 ...
Tuesday, 14 December 21
COAL LOCK-IN IN SOUTHEAST ASIA PRESENTS A CHALLENGE FOR THE ASIAN DEVELOPMENT BANK'S COAL RETIREMENT PLAN - IEEFA
In August, the Asian Development Bank (ADB) announced an ambitious plan to buy high emissions coal-fired power plants in Southeast Asia and retire ...
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- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Australian Coal Association
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Aditya Birla Group - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
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