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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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Tuesday, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
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- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Australian Coal Association
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
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