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Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
 STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks to expand its capacity to supply fuel to a fast-growing Asian market.
The hostile bid follows an earlier offer from St. Louis-based Peabody that was likewise turned down by Macarthur's board.
"Peabody's proposal is highly conditional and does not fully value Macarthur and its significant growth prospects," Macarthur Chairman Keith DeLacy said Wednesday in a statement.
Peabody, the world's largest private-sector coal company, has rapidly expanded operations in Australia since buying its first mine there six years ago. Last year, the company said it plans to double coal exports from the country by 2014.
The company on Wednesday said it is "disappointed" with the initial rejection and believes Macarthur's assets and growth prospects are a good fit with its existing Australian operations.
Brisbane-based Macarthur produced about 4.6 million tons of so-called metallurgical coal last year from two Queensland mines and is in the midst of an expansion. The company, which owns 145 million tons of reserves, supplies coal to steel mills in Asia, Europe and Brazil.
Peabody's offer values Macarthur at about $680 per ton of production and $21 per ton of reserves, according to Jefferies & Co. analyst Michael Dudas.
"We believe the initial bid is the first step in a long, complex negotiating process involving numerous players in the coal and steel industry," Dudas said in a research note.
Peabody said it is currently in discussions with Macarthur's three largest shareholders, who collectively own 47 percent of the company.
Peabody said its offer is conditional on Macarthur calling off an earlier agreement to purchase rival Gloucester Coal Ltd., which is 88-percent owned by Asian commodities firm Noble Group Ltd.
Macarthur is holding a meeting on April 12 for shareholders to vote on whether to issue shares to complete the Gloucester deal.
Peabody said its bid is 34 percent higher than the price of Macarthur shares to be issued to Noble as part of the Gloucester agreement. It is also higher than a February valuation by an independent expert hired by Macarthur, Peabody said.
Source: ST. LOUIS POST-DISPATCH (By: BY Jeffrey Tomich)
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Tuesday, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
Tuesday, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boo ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
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- Cement Manufacturers Association - India
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- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
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- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
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- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
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- Chamber of Mines of South Africa
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- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
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- Sarangani Energy Corporation, Philippines
- Australian Coal Association
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- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
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- MS Steel International - UAE
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- India Bulls Power Limited - India
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- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
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- Directorate General of MIneral and Coal - Indonesia
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- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
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- Indian Energy Exchange, India
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- PTC India Limited - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
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- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
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- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
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- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
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- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- The University of Queensland
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
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- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
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- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
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- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
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