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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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Thursday, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
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- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
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- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
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- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
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- Meralco Power Generation, Philippines
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- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- The University of Queensland
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
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- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- MS Steel International - UAE
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
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- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
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