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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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Saturday, 13 February 10
COAL INDIA 2010/11 COAL IMPORTS TO JUMP - EXEC
Coal imports by state-run Coal India Ltd are likely to soar to 6-10 million tonnes in fiscal 2010/11 from an expected 1.5-1.7 million tonnes in the ...
Saturday, 13 February 10
RULES MAY FREE $10B OF MINING PROJECTS IN INDONESIA
The government announced on Friday that it had issued two implementing regulations for the new Mining Law that will clear the way for the developmen ...
Saturday, 13 February 10
INDONESIA OFFERS TAX INCENTIVES FOR RENEWABLE ENERGY
Indonesia is offering tax incentives to develop renewable energy projects, including geothermal energy, to cut dependency on fossil fuels, a decree ...
Friday, 12 February 10
MECHEL EYES 2010 COAL OUTPUT AT 28-29 MLN T
Russian steel and coking coal producer Mechel expects coal output to reach 28-29 million tonnes this year, returning to pre-crisis levels thanks to ...
Friday, 12 February 10
TATA POWER: QUARTERLY BLIP
Although the company’s revenues dipped in the December quarter, its long-term story is intact.
Lower power generation and realisations saw ...
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- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- The University of Queensland
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
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