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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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- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- The University of Queensland
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
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