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Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
 Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
The company, which is already the world's largest producer of low volatile pulverised injection coal, is seeking to boost production and widen its offering to take advantage of strong Asian demand for steelmaking and steam coal.
Macarthur will offer 0,84 of its own shares or A$8 a share for each Gloucester share in two separate offers, the firm said on Tuesday. The share portion is worth A$8,16 apiece based on Macarthur's closing price on Monday.
Noble Group, which is Gloucester's biggest shareholder, with 87,7%, has indicated it will support the proposal.
Further, Gloucester's independent directors said that, in the absence of a better proposal, and subject to an independent report on the fairness of the offer, they will unanimously recommend Macarthur's bid for the company.
Macarthur also said that it is in talks with Noble to buy its interest in the Middlemount mine joint venture, in central Queensland, and for a majority stake (likely 79,9%) in Donaldson Coal, which has operations in the Hunter Valley.
Noble currently owns 25,34 of Middlemount and Macarthur holds the balance.
Altogether, if the Middlemount and Donaldson transactions are completed, Macarthur will pay Noble A$175-million and 22,5-million of its shares.
Macarthur said the deals being proposed would make it Australia's leading independent coal producer, with a market capitalisation of about A$3,4-billion.
The company would have six operating mines in two states, shipping through two coal terminals.
“The proposed transactions will create a great Australian coal company,” said Macarthur chairperson Keith DeLacy.
“Gloucester and Macarthur shareholders will have exposure to high-quality producing coal miners in three separate coal basins, with strong growth potential.”
Noble, which is part owned by China Investment Corporation, said that it will take shares in Macarthur rather than cash if it accepts the Gloucester offer.
If all the transactions are completed, it will hold 23% of the merged company.
“The combination of these highly complementary assets will provide Noble with exposure to what will be the largest independent coal producer in Australia, a critical supplier to the Asian growth markets,” said Noble CEO Richard Elman.
The company acquired its majority stake in Gloucester in May this year for A$7 a share.
Source: Mining Weekly / Liezel Hill
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Saturday, 09 January 10
THE FAR EAST MARKET STARTED TO STABILIZE - FEARNLEYS
Handy
The FEAST market started to stabilize after the quite holidays and we saw growing activity fed by Chinese coal and iron ore imports and Indi ...
Saturday, 09 January 10
IMPORTED, LOCAL COAL TO BE MIXED IN POWER DRIVE
The government is likely to create a pool price of coal, wherein imported coal and Indian coal could be mixed, making the imported coal becomes more ...
Friday, 08 January 10
SA COAL PRICES TO SPIKE ON RESUMED INDIA BUYING
South African coal prices are set for another price surge to over $100 a ton FOB as Indian and Chinese buyers compete for limited prompt supply, pro ...
Friday, 08 January 10
COLOMBIAN COAL STARTS TO MOVE TO CHINA - TRADERS
* Producer sells cape cargo Colombian coal to China
* Firm bids in freight market
* More shipments expected
Colombian coal is starting to move ...
Thursday, 07 January 10
PT. BUKIT ASAM TO BUILD NEW COAL LOADING TERMINAL AND COAL LOADER
COALspot.com (Indonesia): PT Bukit Asam (Persero) Tbk, Indonesia’s state owned coal mining company, is planning to build an additi ...
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- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
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