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Thursday, 13 August 09
RIO PREPARES COAL IPO AFTER FAILING TO FIND BUYER
 Bloomberg reported that, Rio Tinto Group, the world’s third- largest mining company, is preparing an initial public offering for its U.S. coal unit after failing to find a buyer.
“We have made the decision that this is our preferred option for divestment,” Rio spokesman Nick Cobban said today by phone from London. Preparation for an IPO “is starting now and is expected to be completed by the end of the year,” he said.
Rio posted a U.S. Securities and Exchange Commission filing yesterday for a share offer of at least $500 million in Cloud Peak Energy Inc., which includes four of the mines in the Rio Tinto Energy America unit located in Wyoming and Montana, Cobban said. The sale, managed by Credit Suisse AG, Morgan Stanley and RBC Capital Markets, won’t include the Colowyo mine, he said.
The $500 million figure is “indicative” rather than reflecting the amount that will be raised, Cobban added.
Rio earmarked the assets for sale in 2007 to help repay debt from the purchase of Canadian aluminum producer Alcan Inc. for $38.1 billion. Planned disposals became more difficult as a global recession pummeled commodity prices. Rio shelved the sale of a unit making borates for glass and ceramics in May after failing to get what it called an “acceptable” price.
Arch Coal Inc., the second-biggest U.S. producer of the energy fuel, agreed in March to pay Rio $761 million for the Jacobs Ranch mine, the biggest mine within Rio Tinto Energy America, according to Rio’s Web site.
Alpha Natural
Alpha Natural Resources Inc. was close to purchasing the remaining mines in May until the U.S. coal producer agreed instead to pay $2 billion for rival Foundation Coal Holdings Inc., said a person familiar with the situation at the time.
The four remaining mines, which produce thermal coal in the so-called Powder River Basin, are Spring Creek, Cordero Rojo, Antelope and a 50 percent stake in the Decker mine, according to Rio’s Web site. The company first lodged the proposal to spin off Cloud Peak with the SEC last August.
The mines, excluding Colowyo, may raise as much as $1 billion, Charles Kernot, a mining analyst at Evolution Securities Ltd. in London who has a “sell” recommendation on Rio shares, wrote today in a report.
“If Rio Tinto can raise the anticipated amount of cash this would be good news for the group,” Kernot wrote. By releasing the filing, Rio may hope that other parties may make “a clean bid for the whole entity,” he added.
Fund Raising
Rio has raised $3.7 billion this year selling Latin American iron ore and potash deposits to Vale SA, part of its Alcan packaging unit to Bemis Co. of the U.S. and a stake in a Chinese aluminum smelter. Australia’s Amcor Ltd. said last month it was studying funding options for the rest of Rio’s packaging unit. Rio said in May it was considering bids for parts of its Alcan engineered products unit.
The company agreed in June to raise $21 billion by selling shares and creating an iron-ore venture with BHP Billiton Ltd., after it scrapped a $19.5 billion investment from state-owned Aluminum Corp. of China.
Rio said in 2007 when announcing its plan to sell Rio Tinto Energy America that the unit was the second-largest U.S. coal producer. Output last year was a record 133.3 million metric tons, including 38.2 million tons from Jacobs Ranch, according to Rio’s annual report.
Peabody Energy Corp. is the largest U.S. coal producer.
Source: Bloomberg
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Sunday, 04 October 09
GRASIM TO CONSOLIDATE CEMENT BIZ
The Statesman reported that, India's largest cement producer Aditya Birla group today said it would consolidate its cement businesses by merging Gr ...
Sunday, 04 October 09
GOVT THREATENS TO CANCEL COAL BLOCK ALLOTTED TO BINANI CEMENT
Economic Times reported that, The government has threatened to cancel a coal block allocated for captive use to Binani Cement saying the company see ...
Saturday, 03 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The BDI firmed up this week by almost 8 pct to 2,357 points , the main reason being jump in Cape size index by almost 22 p ...
Friday, 02 October 09
C&O SEES INDONESIA COAL PURCHASES UP 20 PCT IN 2010
Reuters reported that, Dubai-based coal trader Coal & Oil (C&0) expects its coal purchases from Indonesia to increase by at least 20 percent ...
Thursday, 01 October 09
MJUNCTION LAUNCHES INDIA'S FIRST COAL SPOT PRICE INDEX
• Named 'MJcomposite, MJsteel, MJcement, MJpower' the value weighted index will benefit Indian coal buyers by minimising risk against pr ...
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- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
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