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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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Thursday, 07 January 10
RAMKY PLANS COAL MINING IN INDONESIA
Ramky Infrastructure Limited, a Hyderabad-based integrated infrastructure construction and development management company with strategic emphasis on ...
Thursday, 07 January 10
INDONESIAS COAL OUTPUT MAY RISE TO 309 MILLION TONS IN 2014 - BLOOMBERG
Indonesia’s coal production may rise to 309 million tons by 2014 from an estimated 250 million tons this year, Bambang Setiawan, director-gene ...
Wednesday, 06 January 10
RICHARDS BAY SAYS 46% OF COAL EXPORTS WENT TO EUROPE
Richards Bay Coal Terminal, through which almost all of South Africa’s coal exports are routed, said 46 percent of the coal it exported in 200 ...
Wednesday, 06 January 10
CHINA-AUSTRALIA INVESTMENT TIES SEEN IMPROVING IN 2010
Australia and China showed a united front in a bid to improve investment ties as they signed a $3-billion coal deal on Wednesday, following a rocky ...
Wednesday, 06 January 10
INVESTMENT IN MINING TO TOP $2.5B IN 2010
The government plans to invest US$2.5 billion in the mining sector, an official said Tuesday.
Bambang Setiawan, the director general of mineral r ...
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- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
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- Commonwealth Bank - Australia
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- Rashtriya Ispat Nigam Limited - India
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- Energy Development Corp, Philippines
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- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
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- Eastern Energy - Thailand
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- Anglo American - United Kingdom
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- Rio Tinto Coal - Australia
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- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
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- Coal and Oil Company - UAE
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- AsiaOL BioFuels Corp., Philippines
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- The State Trading Corporation of India Ltd
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- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
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- Electricity Authority, New Zealand
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- Indonesian Coal Mining Association
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- Merrill Lynch Commodities Europe
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- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
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- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
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- Gujarat Mineral Development Corp Ltd - India
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- New Zealand Coal & Carbon
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- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
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- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
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- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
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- Kaltim Prima Coal - Indonesia
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- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
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- White Energy Company Limited
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- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
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