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Wednesday, 08 April 09
ARCELORMITTAL BUYS STAKE IN COAL OF AFRICA - MINEWEB
Steel maker, ArcelorMittal SA, has acquired a 16.3 percent stake in Coal of Africa Ltd. for $44.98 million in cash.
ArcelorMittal SA, the South African unit of the world's No. 1 steel maker, has acquired a 16.3 percent stake in Coal of Africa Ltd. (CoAL) for 404.5 million rand ($44.98 million) in cash.
ArcelorMittal South Africa, the largest steel producer in Africa, said in a statement the purchase would help it secure its future coal needs, a key steel-making ingredient, mitigating one of the company's key variable input costs by acquiring the coal locally.
COAL is involved in exploration and development of thermal and metallurgical coal projects in South Africa.
Shares in CoAL jumped 5.5 percent on the news, and traded 3.1 percent higher at 6.55 rand by 1001 GMT, while ArcelorMittal South Africa's shares declined 4.12 percent to 79.13 rand, while the Top-40 index .JTOPI lost 1.86 percent.
As part of the transaction, ArcelorMittal South Africa has an option to enter into an off-take agreement with CoAL for the supply of 2.5 million tonnes of metallurgical (coking) coal annually, the company said.
ArcelorMittal South Africa last year purchased 5.2 million tonnes of coal, which makes it one of the largest input raw materials for the company.
The 16.3 percent stake makes ArcelorMittal South Africa CoAL's second largest shareholder after the 17.3 percent owned by Africa Management Limited, a company owned by black investors associated with the Mvelaphanda Group.
The price paid for the stake was based on the previous 15-day volume weighted average share price of CoAL on the Johannesburg Securites Exchange. To read more click Mineweb
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Monday, 06 April 09
RICHARDS BAY COAL TERMINAL EXPORTS ROSE 5 PERCENT IN MARCH - BLOOMBERG
South Africa’s Richards Bay Coal Terminal, the world’s largest coal-export facility, shipped 5 percent more coal in March than the same ...
Monday, 06 April 09
INDIA'S OSWAL CHEM EYES INDONESIAN COAL MINES -ECONOMICTIMES
Oswal Chemicals and Fertilisers (OCFL), part of Abhay Oswal-led Oswal group, has initiated talks with three separate Indonesian coal firms to ...
Thursday, 02 April 09
FOREIGNERS ALSO CHEER FOR INDONESIA'S THE NEW MINING LAW - MAJALA TAMBANG
Three mining giants, Australia's Rio Tinto along with Canada's Barrick Gold and Southern Arc, are among foreign corporations currently applying fo ...
Wednesday, 01 April 09
INDONESIAN GOVERNMENT REVISES MINING REVENUE TARGET DOWN 26% - THE JAKARTA POST
Government income from mining this year, excluding taxes, is expected to drop by about 26 percent to Rp 11 trillion ($957 million), primarily becaus ...
Wednesday, 01 April 09
INDONESIAN OFFICIAL CLAIMS NEW LEGISLATION IS VINDICATED AS OVERSEAS FIRMS LINE UP FOR MINING LICENSES - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry is expected to issue six mining licenses under the country’s new mining law over the next two months ...
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- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Mjunction Services Limited - India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Deloitte Consulting - India
- Aditya Birla Group - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
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