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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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Wednesday, 16 December 09
INDONESIA'S FIRST PRIVATE RAILWAY TO BOOST RAK'S MINING INTERESTS
MEC infra to invest $1b in construction of 130-km transport link
A 130-kilometre railway that will ease the transport of raw materials and finish ...
Tuesday, 15 December 09
KOMIPO HAS ISSUED A NEW TENDER FOR 30000 MT OF 5200 NAR KCAL/KG COAL
COALspot.com (South Korea): South Korean state-owned utility Korea Midland Power (KOMIPO) has issued an new tender for prompt supply of 30000 M ...
Tuesday, 15 December 09
CHINA CUTS IMPORT DUTIES ON COAL, RAISES FOR OTHERS
China will lower import duties on more than 600 products next year, including coal, naphtha and phosphate ore, the Finance Ministry said on Tuesday. ...
Tuesday, 15 December 09
NTPC'S COAL WOES UNLIKELY TO END SOON
State-owned power producer NTPC’s woes over shortages of coal may not end soon. Though the company is importing 12.5 million tonnes of coal&nb ...
Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
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- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- PTC India Limited - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Australian Coal Association
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
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