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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, 25 November 21
SE ASIA POWER DEMAND TO RISE AS STATE SUPPORT MITIGATES COVID-19 IMPACT - FITCH RATINGS
Electricity demand in south-east Asia is likely to increase in 2021, following slow growth or contraction in 2020, thanks to state support that has ...
Thursday, 25 November 21
FITCH RATINGS INCREASES MOST GLOBAL METALS AND MINING PRICE ASSUMPTIONS - FITCH RATINGS
Fitch Ratings has increased most metals and mining price assumptions, particularly those that benefit from increased longer-term demand due to glob ...
Thursday, 25 November 21
CHINA'S COAL PRICE DROPS IN MID-NOVEMBER AMID GOVERNMENT’S SWEEPING MEASURES - GLOBAL TIMES
China’s coal prices have dropped significantly in mid-November compared with the beginning of the month, with the price of coking coal and co ...
Wednesday, 24 November 21
MARKET INSIGHT - INTERMODAL
Inflation is the word that has dominated the meetings of foreign leaders and finance ministers in recent weeks, as rising energy costs, supply chai ...
Wednesday, 24 November 21
WHY THIS MINING ANALYST IS UPBEAT ON THE IRON ORE PRICE FORECAST - MOTLEY FOOL
In many ways, 2021 can be called the year of the iron ore price. Much of the talk of the ASX town this year has revolved around this key economic m ...
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- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
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