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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, 17 February 10
JORONG COULD COST BANPU 5%
Banpu Plc, Asean's biggest coal miner, forecasts a 5% drop in revenue if its suspended coal mine in Indonesia is closed for one year, says presiden ...
Wednesday, 17 February 10
RUSSIA KRU JAN COAL EXPORTS DOWN 4 PCT
Kuzbassrazrezugol, Russia's second largest steam coal producer, exported 1.859 million tonnes of coal last month, down 80,000 tonnes or 4 percent f ...
Wednesday, 17 February 10
VEDANTA SET FOR PORTS ENTRY WITH VIZAG TENDER
Vedanta, along with Leighton Contractors India, quoted a revenue share of 38.1% to win the 30-year contract
Mining and metals conglomerate Vedant ...
Tuesday, 16 February 10
TRENDS DRY BULK MARKET ... TRENDS - BRS
The start of the Chinese New Year had an immediate impact on rates and for once all the dry bulk segments lost similar ground.
The BDI fell 5%, a ...
Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
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- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
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- Minerals Council of Australia
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- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Australian Coal Association
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- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
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- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
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- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
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- Chamber of Mines of South Africa
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- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
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- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- The University of Queensland
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- PTC India Limited - India
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- Bahari Cakrawala Sebuku - Indonesia
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- Agrawal Coal Company - India
- Aditya Birla Group - India
- Parliament of New Zealand
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- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Interocean Group of Companies - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
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- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
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- Electricity Authority, New Zealand
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
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- Power Finance Corporation Ltd., India
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- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Planning Commission, India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
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- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
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- Miang Besar Coal Terminal - Indonesia
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- Parry Sugars Refinery, India
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