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Saturday, 04 July 09
CHINA BUYS 17% OF MINER TECK RESOURCES FOR $1.5 BILLION
 * To sell 17.2 percent stake to China Investment Corp
* To raise proceeds of C$1.74 bln
* Shares rise 3.2 percent (Adds details. In U.S. dollars unless noted)
Canada's Teck Resources will sell a 17.2 percent equity stake to state-owned China Investment Corp through a private placement that will raise C$1.74 billion ($1.5 billion) and help the miner pay down debt, it said on Friday.
Teck, a top producer of zinc, copper, and metallurgical coal, will sell 101.3 million shares at C$17.21 each, a 7 percent discount to Thursday's closing price of C$18.50 on the Toronto Stock Exchange.
Despite the discount, Teck's shares rose 3.2 percent, or 60 Canadian cents to C$19.10 just after markets opened, the biggest gain among base metals miners in Toronto.
The deal, which will give CIC a 6.7 percent voting stake in the company, comes as Chinese companies have been taking advantage of depressed resource prices buy stakes in producers and lock in access to commodities, particularly oil.
However, the deal does not involve an offtake agreement, and Teck said that CIC, a sovereign wealth fund, has said it is acquiring the shares "for investment purposes as a long-term passive financial investor" and has agreed to hold the stock for at least a year after the deal closes in mid-July.
In a statement, Teck Chief Executive Don Lindsay said the transaction was "an attractive opportunity for Teck to establish a relationship with a major Chinese financial investor, with a deep understanding of China, the world's largest consumer of our principal products."
Lindsay said recently the company had talks with Chinese officials last year over a possible deal to supply coal to China's growing steel industry.
DEBT PAYDOWN
Vancouver, British Columbia-based Teck will use the proceeds of the deal to cut bank debt. The miner took on nearly $10 billion in debt last year to buy Fording Canadian Coal Trust, which made it a top producer of metallurgical coal, or coal used in the steelmaking process.
The company has sold some assets to pay down the debt, and has said it planned to sell a 20 percent stake in its coal business. Teck spokesman Greg Waller said the company still plans to sell the minority stake in the coal business.
David Davidson, an analyst at Paradigm Capital, noted there had been recent speculation that Teck would do some sort of equity sale to pay down debt.
He said he doubted the deal would face Canadian regulatory or government obstacles, as it is for an equity stake in the company, rather than a piece of a particular asset.
"It doesn't get them any closer to a pound of zinc or a tonne of coal," he said.However, he said the deal would make it easier for Teck to do future deals with Chinese companies.
"Any deal that does come along for a ... stake in Fording or anything else Teck decides to sell, that approval process (in China) has basically been taken care of," he said.
CIC was created in 2007 to manage part of China's foreign exchange reserves for higher returns. The $200 billion fund has invested $7.8 billion in Morgan Stanley and has also invested in private equity fund Blackstone.
Source: Reuters
(http://www.reuters.com/article/marketsNews/idAFN0315307920090703?rpc=44&sp=true)
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Monday, 13 July 09
COAL SECTOR IN VIETNAM INCREASE THE TARGET 43 MILLION TONNES THIS YEAR
Asian Mining Stock reported that, there was a change in a very good Coal Mining Industries Group (TKV) that Vietnam has decided to increase coa ...
Saturday, 11 July 09
THE IMPORT OF STEAM COAL FROM INDONESIA & S/A TO INDIA WILL CONTINUE TO INCREASE - VISTAAR
COALspot.com ( Singapore): Vistaar Shipping, an experienced ship operator in Singapore said, The market continued to be soft this with doubts a ...
Friday, 10 July 09
DMO AND ICPR AIMED AT SECURING DOMESTIC COAL SUPPLY
COALspot.com (Indonesia): According to website of DGCMG, the implementation of coal Domestic Market Obligation (DMO) and the Indonesian Coal P ...
Friday, 10 July 09
INDONESIAN MINING LAW IN TRANSITION
Further to the enactment of Law No. 4 of 2009 on Mineral and Coal Mining (“Law 4/2009”), the enactment of various implementing regulatio ...
Thursday, 09 July 09
COAL EXPORTS TO CHINA MAY FALL AS PRICES, SHIPPING RATES RISE
CHINA'S appetite for Australian coal may fall in July and August from earlier highs, due to a recent recovery in regional prices and higher interna ...
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- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
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