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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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Thursday, 08 April 10
INDONESIAN ENERGY MINISTRY SEEKS LONGER MINING CONTRACTS - THE JAKARTAGLOBE
The Jakarta Globe reported that, Energy Minister Darwin Zahedy Saleh said he would seek to amend the mining law to address investors’ complain ...
Thursday, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
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- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- The University of Queensland
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
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