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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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Monday, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
Sunday, 14 March 10
CHINESE COAL PRICE MAY RISE TO TRADE NEAR SPOT, MACQUARIE SAYS
Bloomberg reported that, Steel mills in China, the world’s biggest producer of the alloy, may pay more for domestic coking coal this year as d ...
Sunday, 14 March 10
THERE IS NO INDICATION OF SLOWING DOWN OF IRON ORE AND COAL IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com: The dry bulk freight market continued the upward trend and the BDI closed 8.14 pct this week.
The Cape index up by 10.32 pct ...
Saturday, 13 March 10
INDONESIA COAL EXPORTS DROP IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons in January 2010 which fell slightly to 22.89 mln ton of coal i ...
Saturday, 13 March 10
INDONESIA TELLS BUKIT ASAM TO DITCH PARTNER IN SUMATRA RAILWAY UNLESS PROJECT STARTS
The Jakarta Globe reported that, the Indonesian government has urged state-owned miner PT Tambang Batubara Bukit Asam to look for new partners to he ...
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- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- White Energy Company Limited
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Australian Coal Association
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- The University of Queensland
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
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