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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, 28 January 10
COAL - VIETNAM / TRADE
Vietnam expects to turn into a coal importer within three years, spurred by an industrial boom and rising power consumption, a senior executive with ...
Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would ...
Thursday, 28 January 10
BHP MAY SELL 25% STAKE IN INDONESIAN COAL PROJECT
BHP Billiton Ltd. plans to sell only a 25 percent stake in a coal project in Indonesia as it wants to retain control of the asset, said Indra Dianna ...
Thursday, 28 January 10
TRANSNET ASPIRES TO 81MT/Y COAL EXPORT CAPACITY
South African State-owned rail transport enterprise Transnet wants to increase coal-line rail capacity to 81-million tons a year as part of its Quan ...
Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
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- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
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- Independent Power Producers Association of India
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- Bhatia International Limited - India
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- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
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- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
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- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
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