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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, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
* Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of ...
Tuesday, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
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- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Planning Commission, India
- Australian Coal Association
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Economic Council, Georgia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
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