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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, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
Monday, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
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- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
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- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
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- Indian Oil Corporation Limited
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- Ministry of Finance - Indonesia
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- Deloitte Consulting - India
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- Orica Australia Pty. Ltd.
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- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
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- CIMB Investment Bank - Malaysia
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- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
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- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Trasteel International SA, Italy
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- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Videocon Industries ltd - India
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- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
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- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
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- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
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- Kideco Jaya Agung - Indonesia
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- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
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- Global Green Power PLC Corporation, Philippines
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- Australian Commodity Traders Exchange
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- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Malabar Cements Ltd - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
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- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
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- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Petron Corporation, Philippines
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
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- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
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- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
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- Parliament of New Zealand
- Mintek Dendrill Indonesia
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