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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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Friday, 04 December 09
CHINA'S COAL IMPORTS PREDICTED TO DECLINE IN 2010
China's eye-catching coal import figure s are unlikely to extend into 2010 given the predicted narrow-down of the coal price spread between the hom ...
Friday, 04 December 09
SUBHASH PROJECTS BEGINS MINING AT INDONESIAN COAL BLOCK
Kolkata-based infrastructure company Subhash Projects and Marketing (SPML) has begun mining at its coal block in Indonesia and will begin despatchin ...
Friday, 04 December 09
DRY BULK MARKET IS ON THE RISE AGAIN
Proving rather resilient, compared to previous behaviors, the dry bulk market has been on a rebound mode once again, after a two-week fall, which su ...
Friday, 04 December 09
INDONESIA'S BUMI EYES MARKETING DEAL FOR BERAU COAL
Reuters reported that, Indonesian coal miner PT Bumi Resources Tbk said on Thursday it is in talks to be the exclusive marketing agent for coal prod ...
Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an ...
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- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
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- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
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- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
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- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
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- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
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- Carbofer General Trading SA - India
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- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
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- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
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- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
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- Altura Mining Limited, Indonesia
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- Sical Logistics Limited - India
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- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
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- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
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- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
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