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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 $21 per ton of reserves, according to Jefferies & Co. analyst Michael Dudas.
"We believe the initial bid is the first step in a long, complex negotiating process involving numerous players in the coal and steel industry," Dudas said in a research note.
Peabody said it is currently in discussions with Macarthur's three largest shareholders, who collectively own 47 percent of the company.
Peabody said its offer is conditional on Macarthur calling off an earlier agreement to purchase rival Gloucester Coal Ltd., which is 88-percent owned by Asian commodities firm Noble Group Ltd.
Macarthur is holding a meeting on April 12 for shareholders to vote on whether to issue shares to complete the Gloucester deal.
Peabody said its bid is 34 percent higher than the price of Macarthur shares to be issued to Noble as part of the Gloucester agreement. It is also higher than a February valuation by an independent expert hired by Macarthur, Peabody said.
Source: ST. LOUIS POST-DISPATCH (By: BY Jeffrey Tomich)
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Tuesday, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
Winnipeg Free Press reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per ce ...
Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
Attention international coal industry. There's a new kid on the block.
The nation of India.
India is emerging as a major re-shaping force for ...
Sunday, 28 March 10
SHIPS FROM WC INDIA TO CHINA CONTINUED TO BE FIXED AT HEALTHY LEVELS AT AROUND US$ 50/52,000 PER DAY - VISTAAR
COALspot.com: The dry bulk freight market seemed to be heading for a correction with all the indices dropping by 8-10 pct except for handy size whic ...
Saturday, 27 March 10
CHINA DROUGHT MAY RAISE COAL DEMAND, BOOST PRICES, CLSA SAYS - BLOOMBERG
Bloomberg reported that, Droughts in southwest China may increase demand for coal used in power plants, and ‘support” prices in the &ldq ...
Saturday, 27 March 10
CHINA TO REMAIN NET COAL IMPORTER IN NEAR FUTURE - STEEL GURU
Xinhua News cited Mr Wu Chenghou a councilor with the China Coal Transportation and Marketing Association as saying that China will remain a net coa ...
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- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
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