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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 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Australian Coal Association
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
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