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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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Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
Wednesday, 16 September 09
NAPOCOR GETS 3 OFFERS IN COAL TENDER
ABS-CBN news reported that, The Philippines' state-run National Power Corp. (Napocor) said on Wednesday it received offers from 3 Indonesian firms ...
Wednesday, 16 September 09
S.KOREA KOSEP BUYS 1.06 MLN T COAL-SOURCE
* 6,080 kcal/kg at $63-65, 4,900-5,350 kcal/kg at $56-58
* Initially about 5 mln T offered for tender
Reuters reported that, Korea South ...
Tuesday, 15 September 09
CHINA COAL EXPORT ROSE M-O-M FOR THE STRAIGHT 3 MONTHS
Alibaba reported that, In the January-August period, China coal exports slid by 55.9% to 14.83mln tons month on month. In August, China exported 1.9 ...
Monday, 14 September 09
CIL MAY REDUCE FLOOR PRICE OF E-AUCTION COAL
After receiving a lukewarm response to the forward e-auction started in two of its subsidiaries, Coal India Limited (CIL) is mulling to reduce the f ...
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- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- MS Steel International - UAE
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