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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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Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
Monday, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
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- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- PTC India Limited - India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Australian Coal Association
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
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