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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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Wednesday, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
* Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of ...
Tuesday, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
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- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
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