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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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Sunday, 03 January 10
BHP TO STAY IN MARUWAI AND TO KEEP 75 PERCENT OF THE STAKE
Despite recent statements that it would pull out completely from Indonesia, the world's largest mining company BHP Billiton has now admitted that i ...
Saturday, 02 January 10
INDONESIAS COAL OUTPUT RISES BY 5%
Indonesia, Asia’s largest coal exporter, produced 254 million tons of coal in 2009, a 5.8 percent increase from 2008 and well ahead of the gov ...
Saturday, 02 January 10
TAIPOWER FORECASTS COAL DEMAND TO SNAP DECLINE
Taiwan Power Co., Asia's biggest importer of thermal coal, expects its demand for the fuel to rise in 2010 after falling for two years as the islan ...
Friday, 01 January 10
COAL INDIA TO START IMPORTING DIRECTLY
According to sources, the coal major has already finalised tender document to import four million tonnes thermal grade coal for supplies to NTPC. Th ...
Thursday, 31 December 09
INDONESIA SEES 2010 MINING INVESTMENT UP 39 PCT
Reuters reported that, Indonesian mining investment is expected to hit $2.5 billion next year, up from $1.81 billion in 2009, supported by greater c ...
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- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Marubeni Corporation - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
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