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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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Thursday, 08 April 10
INDONESIAN ENERGY MINISTRY SEEKS LONGER MINING CONTRACTS - THE JAKARTAGLOBE
The Jakarta Globe reported that, Energy Minister Darwin Zahedy Saleh said he would seek to amend the mining law to address investors’ complain ...
Thursday, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
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- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Australian Coal Association
- Star Paper Mills Limited - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
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