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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
JSW ENERGY TO BUY OUT PARENT FIRM'S COAL BLOCK
JSW Energy plans to buy the stake held by JSW Steel in a thermal coal block in Mozambique in an attempt to become an integrated energy company with ...
Thursday, 03 December 09
JAPAN 2010 COAL IMPORTS SEEN FLAT, INDIA'S ROBUST - INDUSTRY
* Japan's demand seen steady in 2010 at 110 mln tonnes
* India's demand seen as robust, at 70 mln tonnes
Reuters reported that, Thermal coal i ...
Thursday, 03 December 09
INDONESIA MAY ALLOW COAL SALES BELOW GOVT PRICE
Reuters reported that, Indonesia is considering giving producers some flexibility to sell coal below the government's monthly benchmark price to co ...
Thursday, 03 December 09
INDONESIA SEEKS TO INCREASE COAL SHIPMENTS TO INDIA, CHINA
Bloomberg reproted that, Indonesia, Asia’s biggest coal exporter, seeks to increase shipments to India and China as the economies improve and ...
Thursday, 03 December 09
COAL INDIA IPO LIKELY TO HIT MARKETS BY NOVEMBER 2010
Soon investors will get to own a slice of India's largest coal mining company. Coal India its initial public offering will hit markets in November ...
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- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
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- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
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- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
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- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Australian Coal Association
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
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