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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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Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
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- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
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