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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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Saturday, 05 September 09
SHANXI AIMS TO MAINTAIN 2009 COAL OUTPUT AT LAST YEAR'S LEVEL
Interfax-China reported that, Shanxi Province, the country's second-largest coal producing region, is aiming to keep its annual coal output a ...
Saturday, 05 September 09
INDIA BUYING INTO AUSTRALIA'S COAL - INTERVIEW
India is in line to buy vast amounts of Australian coal. An Indian cabinet minister is on a special mission to Australia to help satisfy India's ur ...
Saturday, 05 September 09
52 COMPANIES SUBMIT EOIS TO COAL INDIA
The Hindu, India's largest English news paper reported that, International mining majors from the U.S., South Africa, Australia and Indonesia are a ...
Friday, 04 September 09
INDONESIA PAITON ENERGY BUYS COAL FROM ADARO, KIDECO
PT Paiton Energy, an Indonesian independent power producer, has agreed to buy 3 million tonnes of coal from PT Adaro Energy Tbk (ADRO.JK) and PT Kid ...
Thursday, 03 September 09
ICVL IN TALKS FOR COAL BLOCKS IN INDONESIA
These acquisitions will help ICVL meet an internal target of importing at least 5 million tonnes (mt) of coking coal by 2012-13
LiveMint reported ...
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- Minerals Council of Australia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
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