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Saturday, 13 March 10
OPTIMUM COAL AIMS TO RAISE R1,6 BILLION IN LISTING
 All Africa reported that, COAL mining and exploration company Optimum Coal yesterday announced plans to list on the JSE at the end of the month. It expects to raise about R1,6bn in the initial public offering (IPO).
Optimum Coal is the sixth-largest producer and the fourth-largest exporter of thermal coal in SA - after Anglo American, BHP Billiton and Xstrata - with operations in Witbank, Mpumalanga.
The black economic empowerment company's prominent board members include nonexecutive chairman Sivi Gounden, a former director-general at the Department of Public Enterprises, and businessman and former Eskom chairman Bobby Godsell.
The listing comes as analysts have forecast IPO activity in the global mining sector will gather pace this year as companies seek alternative ways of funding after the devastating credit crunch a year ago.
Optimum said it expected to raise R1,6bn through a subscription for new shares and an offer for sale by certain shareholders.
The offer consists of the sale of up to 42,75-million fully paid ordinary shares priced between R34 and R37, made up of an offer for subscription of 24-million shares and an offer for sale by the selling shareholders of up to 18,75- million ordinary shares. The price of the shares will be announced on March 24.
The company said it would be meeting with invited individuals and institutions in SA and abroad over the next two weeks, ahead of the listing.
CEO Mike Teke said the listing came at a time of robust demand for coal. "Optimum has strategically located operations with good access to rail infrastructure, rapid loading and export facilities, and a large export entitlement at Richards Bay Coal Terminal.
"We are cash generative and have a strong balance sheet, which provides a sound platform for growth. We believe the time is right for Optimum to list as there are few pure coal plays on the JSE. We can now begin accelerating towards our vision to become the benchmark South African-owned and controlled coal mining and exploration group."
Last month Ernst & Young said the credit squeeze in 2008 fundamentally changed the way the industry will be financed in future. Equity was expected to play a greater role in the next wave of growth, with the IPO market starting to recover this year.
"Following the decline of the project finance model, we could see a return to individual mines being floated, with proceeds used for development and investors sharing in the profits when the mine goes into production.
"A recovery in IPOs has begun, but will require a sustainable period of stability in global stock markets and metals prices to return to former levels."
Source: All Africa - By:Bheki Mpofu
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Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
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- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
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