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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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Friday, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...
Friday, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
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- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
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