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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, 09 January 10
IMPORTED, LOCAL COAL TO BE MIXED IN POWER DRIVE
The government is likely to create a pool price of coal, wherein imported coal and Indian coal could be mixed, making the imported coal becomes more ...
Friday, 08 January 10
SA COAL PRICES TO SPIKE ON RESUMED INDIA BUYING
South African coal prices are set for another price surge to over $100 a ton FOB as Indian and Chinese buyers compete for limited prompt supply, pro ...
Friday, 08 January 10
COLOMBIAN COAL STARTS TO MOVE TO CHINA - TRADERS
* Producer sells cape cargo Colombian coal to China
* Firm bids in freight market
* More shipments expected
Colombian coal is starting to move ...
Thursday, 07 January 10
PT. BUKIT ASAM TO BUILD NEW COAL LOADING TERMINAL AND COAL LOADER
COALspot.com (Indonesia): PT Bukit Asam (Persero) Tbk, Indonesia’s state owned coal mining company, is planning to build an additi ...
Thursday, 07 January 10
RAMKY PLANS COAL MINING IN INDONESIA
Ramky Infrastructure Limited, a Hyderabad-based integrated infrastructure construction and development management company with strategic emphasis on ...
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- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- The University of Queensland
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- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- MS Steel International - UAE
- Parry Sugars Refinery, India
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- The Treasury - Australian Government
- Indian Oil Corporation Limited
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- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
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- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
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- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
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- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Eastern Coal Council - USA
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- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- CNBM International Corporation - China
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- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
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- Mjunction Services Limited - India
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- Merrill Lynch Commodities Europe
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- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
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- San Jose City I Power Corp, Philippines
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- AsiaOL BioFuels Corp., Philippines
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- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
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- Iligan Light & Power Inc, Philippines
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- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
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- Tamil Nadu electricity Board
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- Kaltim Prima Coal - Indonesia
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- Ministry of Mines - Canada
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- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
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- White Energy Company Limited
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
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- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
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- Ministry of Finance - Indonesia
- Economic Council, Georgia
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- Planning Commission, India
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- GAC Shipping (India) Pvt Ltd
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