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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, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- Ministry of Mines - Canada
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- Oldendorff Carriers - Singapore
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- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
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- PTC India Limited - India
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- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
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- Miang Besar Coal Terminal - Indonesia
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- Independent Power Producers Association of India
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- Sarangani Energy Corporation, Philippines
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- Mintek Dendrill Indonesia
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- Coal and Oil Company - UAE
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- Videocon Industries ltd - India
- Goldman Sachs - Singapore
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- Bulk Trading Sa - Switzerland
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- Eastern Coal Council - USA
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- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
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- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
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- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
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- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
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- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- The University of Queensland
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
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- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
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- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
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- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Grasim Industreis Ltd - India
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