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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 February 10
COAL MINERS FACE SHUTDOWN OVER RECLAMATION FUNDING
Three coal mining companies may be forced to temporarily stop operations this year if they fail to provide funding for a site-reclamation program.
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Thursday, 18 February 10
DECOUPLING FROM OIL PRICES ON STRONG GLOBAL ENERGY DEMAND
A recent coal market conference in Singapore focused on two main issues –— the demand for coal as a source of energy, and coal pricing.& ...
Thursday, 18 February 10
INDONESIA TO INVITE BIDS FOR $1.5 BLN COAL RAILWAY IN MAY
Indonesia plans to invite investors to bid for contracts to build a $1.5 billion coal railway line in Central Kalimantan, a planning ministry offici ...
Thursday, 18 February 10
INDONESIA ZONING RULE THREATENS MINING - INDUSTRY
Reuters reported that, confusion over a new Indonesian land use regulation could halt the operations of some mining firms, providing a new threat to ...
Wednesday, 17 February 10
LAND OVERLAPPING UNAVOIDABLE
Land overlapping issues in the mining industry is unavoidable due to the availability of mineral, coal, and oil resources which are often located be ...
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- Economic Council, Georgia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Australian Coal Association
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
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