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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 $21 per ton of reserves, according to Jefferies & Co. analyst Michael Dudas.
"We believe the initial bid is the first step in a long, complex negotiating process involving numerous players in the coal and steel industry," Dudas said in a research note.
Peabody said it is currently in discussions with Macarthur's three largest shareholders, who collectively own 47 percent of the company.
Peabody said its offer is conditional on Macarthur calling off an earlier agreement to purchase rival Gloucester Coal Ltd., which is 88-percent owned by Asian commodities firm Noble Group Ltd.
Macarthur is holding a meeting on April 12 for shareholders to vote on whether to issue shares to complete the Gloucester deal.
Peabody said its bid is 34 percent higher than the price of Macarthur shares to be issued to Noble as part of the Gloucester agreement. It is also higher than a February valuation by an independent expert hired by Macarthur, Peabody said.
Source: ST. LOUIS POST-DISPATCH (By: BY Jeffrey Tomich)
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Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
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- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
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