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