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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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- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
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