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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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Tuesday, 30 November 99
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Showing 6871 to 6871 news of total 6871 |
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- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
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- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
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- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
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