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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, 11 March 10
THE INDIAN MARKET WAS A BIT QUIET BUT STILL FIRM - FEARNLEYS AS
Handy - Atlantic activity has kept its firm tendency throughout the week for handies, with Atlantic RV´s fixed in the USD.16000 region. With s ...
Thursday, 11 March 10
COAL PRICES SET TO RISE AMID CONFUSION OVER QUARTERLY SYSTEM
Trading room reported that, Coal prices are tipped to rise in coming months amid constrained supply and ongoing Chinese demand, and analysts are con ...
Wednesday, 10 March 10
PROTECTED FORESTS NOW UP FOR GRABS FOR MINING
The Jakarta Post reported that, the government has just issued two new regulations on forests, which could allow protected forests to be used for co ...
Tuesday, 09 March 10
REGULATION NO.23 OF 2010 CONCERNING IMPLEMENTATION OF NEW MINING LAW, PROVIDES MORE CLARITY ON OBTAINING A IUP
COALspot.com: Indonesian government has recently issued another regulation related to Law number 4 of 2009 concerning mineral and coal mining. Two r ...
Tuesday, 09 March 10
MINING LAW OPTIMIZES SECTOR
Law No. 4 / 2009 on Mineral and Coal Mining have given a new direction for the future of mining in Indonesia, including Domestic Market Obligation, ...
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- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
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- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
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- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
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- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
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- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
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- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
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- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Economic Council, Georgia
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- Australian Coal Association
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- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
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- Indian Energy Exchange, India
- McConnell Dowell - Australia
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- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Indo Tambangraya Megah - Indonesia
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- Electricity Generating Authority of Thailand
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- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Power Finance Corporation Ltd., India
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- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
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- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
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- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
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- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
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- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
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- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Parliament of New Zealand
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