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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 $21 per ton of reserves, according to Jefferies & Co. analyst Michael Dudas.
"We believe the initial bid is the first step in a long, complex negotiating process involving numerous players in the coal and steel industry," Dudas said in a research note.
Peabody said it is currently in discussions with Macarthur's three largest shareholders, who collectively own 47 percent of the company.
Peabody said its offer is conditional on Macarthur calling off an earlier agreement to purchase rival Gloucester Coal Ltd., which is 88-percent owned by Asian commodities firm Noble Group Ltd.
Macarthur is holding a meeting on April 12 for shareholders to vote on whether to issue shares to complete the Gloucester deal.
Peabody said its bid is 34 percent higher than the price of Macarthur shares to be issued to Noble as part of the Gloucester agreement. It is also higher than a February valuation by an independent expert hired by Macarthur, Peabody said.
Source: ST. LOUIS POST-DISPATCH (By: BY Jeffrey Tomich)
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Monday, 01 March 10
166 MINING COMPANIES THREATEN ENVIRONMENT
Viva News reported that, the Indonesian Forum for the Environment (Walhi) of East Kalimantan reveals that 166 coal mining companies, which are curre ...
Monday, 01 March 10
IRON ORE PRICE NEGOTIATIONS - 80PCT HIKE SEEN BY CHINESE
China Knowledge quoted an insider from a large Chinese steel company said there will be a significant increase in steel prices in the next few month ...
Sunday, 28 February 10
SUPRAMAX CHARTER RATES FOR ONE YEAR IS AROUND US$ 19,000/20,000 PER DAY - VISTAAR SINGAPORE
COALspot.com : The freight market firmed up by almost 10 pct on Supramax and Handy size and about 7 pct on Panamax.
However it was interesting to ...
Sunday, 28 February 10
MINISTRY SEEKS TWO YEAR DELAY TO IMPLEMENT ENVIRONMENT LAW
The Jakarta Post reported that, The ministry of energy and mineral resources has proposed that the government postpone the implementation of the 200 ...
Sunday, 28 February 10
CONTINENTAL TARGETS COAL SALES FROM S AFRICA MINE IN Q2 - MINING WEEKLY
Mining weekly reported that, Junior coal explorer Continental Coal would start coal sales from its Vlakvarkfontein mine, in South Africa, in the sec ...
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- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
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