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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 $19.5 billion investment from state-owned Aluminum Corp. of China.
Rio said in 2007 when announcing its plan to sell Rio Tinto Energy America that the unit was the second-largest U.S. coal producer. Output last year was a record 133.3 million metric tons, including 38.2 million tons from Jacobs Ranch, according to Rio’s annual report.
Peabody Energy Corp. is the largest U.S. coal producer.
Source: Bloomberg
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Tuesday, 22 September 09
SHORT PERIOD RATE FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI just dropping by about 5 pct to 2,356 points last week. The change ...
Tuesday, 22 September 09
AUSTRALIA SEES HIGHER ASIAN THERMAL COAL IMPORTS
* Asia '09 imports to rise 3.5%, vs pvs f'cast of 3.3% fall
* Asia 2010 thermal coal imports expected to rise 6.3 pct
* China to become net im ...
Tuesday, 22 September 09
PANAMA CANAL EXPANSION MAY AID COLOMBIA COAL TO ASIA
* Colombia producers hope for growth in Asia shipments
* Panama Canal will allow smaller coal Capesize vessels
* Australia, Indonesia to remain bi ...
Monday, 21 September 09
ACCC SET TO APPROVE NEWCASTLE COAL SHIPPING AGREEMENT
ABC reported that, The competition regulator says it is likely to approve a new agreement over coal loading arrangements at Newcastle.
Australian ...
Friday, 18 September 09
PEABODY ENERGY ESTABLISHES ASIAN COAL TRADING HUB IN SINGAPORE
Peabody Energy announced it has opened an office in Singapore that will serve as the new hub for Peabody COALTRADE International activities in South ...
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- London Commodity Brokers - England
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Planning Commission, India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- The University of Queensland
- Central Java Power - Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
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