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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, 18 February 10
COAL MINERS FACE SHUTDOWN OVER RECLAMATION FUNDING
Three coal mining companies may be forced to temporarily stop operations this year if they fail to provide funding for a site-reclamation program.
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Thursday, 18 February 10
DECOUPLING FROM OIL PRICES ON STRONG GLOBAL ENERGY DEMAND
A recent coal market conference in Singapore focused on two main issues –— the demand for coal as a source of energy, and coal pricing.& ...
Thursday, 18 February 10
INDONESIA TO INVITE BIDS FOR $1.5 BLN COAL RAILWAY IN MAY
Indonesia plans to invite investors to bid for contracts to build a $1.5 billion coal railway line in Central Kalimantan, a planning ministry offici ...
Thursday, 18 February 10
INDONESIA ZONING RULE THREATENS MINING - INDUSTRY
Reuters reported that, confusion over a new Indonesian land use regulation could halt the operations of some mining firms, providing a new threat to ...
Wednesday, 17 February 10
LAND OVERLAPPING UNAVOIDABLE
Land overlapping issues in the mining industry is unavoidable due to the availability of mineral, coal, and oil resources which are often located be ...
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- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
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- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
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- Pendopo Energi Batubara - Indonesia
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- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
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- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- White Energy Company Limited
- Planning Commission, India
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- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
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- Australian Coal Association
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- Jaiprakash Power Ventures ltd
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- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
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- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
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- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
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- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
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- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
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- South Luzon Thermal Energy Corporation
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- Electricity Authority, New Zealand
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- Grasim Industreis Ltd - India
- VISA Power Limited - India
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- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
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- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
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- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
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- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
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