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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, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
Thursday, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
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- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
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