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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, 04 March 10
THE INDIAN MARKET WAS STILL STRONG - FEARNRESEARCH
HANDY
Activity has gradually improved in the Atlantic throughout the week. All areas&n ...
Thursday, 04 March 10
GLOBAL COAL PRICES GETS SUPPORT FROM EM DEMAND
Commodity Online reported that, AP12 coal prices look well supported in 2010 thanks to positive outlook for Chinese coal demand whereas coal demand ...
Thursday, 04 March 10
THREE NEW GLOBAL PRICES INDEXES FOR COKING COAL
Commodity Online reported that, On February 26, Energy Publishing Co. broke new ground in the coal-marketing industry when it began publishing three ...
Tuesday, 02 March 10
INDIA WAS AGAIN THE WINNER IN THE EAST, WITH SUPRAMAXES FIXING CLOSE TO US$40,000/DAY FROM THE WEST COAST
There was little movement in the BDI this week but behind the scenes, the Supramax and Handy size segments posted significant gains, correcting the ...
Tuesday, 02 March 10
INDONESIA'S PROTECTED FORESTS NOW OPEN TO DEVELOPMENT
The Jakarta Globe reported that, President Susilo Bambang Yudhoyono has signed a decree to allow mining, power plants and other projects deemed stra ...
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- Malabar Cements Ltd - India
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- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
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- Indika Energy - Indonesia
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- PowerSource Philippines DevCo
- White Energy Company Limited
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- The Treasury - Australian Government
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- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
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- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Central Java Power - Indonesia
- Parliament of New Zealand
- Deloitte Consulting - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Indian Energy Exchange, India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
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