We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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$7 a share.
Source: Mining Weekly / Liezel Hill
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 07 December 09
CHINA COKING COAL PRICE MAY RISE 14% ON DEFICIT, CITIGROUP SAYS
Coking coal prices in China, the world’s biggest steel producer, may rise 14 percent next year because of a supply deficit, Citigroup Inc. sai ...
Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a t ...
Monday, 07 December 09
BLACK RIDGE MINING ENTERS AGREEMENT WITH INDONESIAN COAL PRODUCER
Australian-listed Black Ridge Mining has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas A ...
Sunday, 06 December 09
THE ECI / CHINA (S7) ROUTE SOFTENED AND WAS AT US$ 25,275 PER DAY - VISTAAR
COALspot.com (Singapore): "The market was bit soft in the beginning of the week, however towards mid week that market started to pick up and th ...
Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
|
|
|
Showing 6196 to 6200 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
|
| |
| |
|
