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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$7 a share.
Source: Mining Weekly / Liezel Hill
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Saturday, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR
COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Sup ...
Friday, 18 December 09
CARGOTEC WINS IBJ'S BEST SHIP LOADING / UNLOADING SYSTEM AWARD WITH SIWERTELL
Cargotec’s Siwertell ship unloader has recently won International Bulk Journal’s best ship loading/unloading system award for 2009; out ...
Friday, 18 December 09
THERMAL COAL PROJECT MOVES AHEAD
A proposal for Australia's largest thermal coal project in Queensland's central west has taken a step forward.
Hancock Prospecting is proposing ...
Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indones ...
Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...
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- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Aditya Birla Group - India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
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