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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 $19.5 billion investment from state-owned Aluminum Corp. of China.
Rio said in 2007 when announcing its plan to sell Rio Tinto Energy America that the unit was the second-largest U.S. coal producer. Output last year was a record 133.3 million metric tons, including 38.2 million tons from Jacobs Ranch, according to Rio’s annual report.
Peabody Energy Corp. is the largest U.S. coal producer.
Source: Bloomberg
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Monday, 31 August 09
INDIA MMTC ISSUE TENDER TO IMPORT 12.5 MMT COAL TO BE SUPPLIED OVER A PERIOD OF 12 MONTHS
COALspot.com (India): MMTC has re-issued a tender to import 12.50 Million Metric Tonnes (12.50 MMT) (+/- 2%) of thermal coal to be supplied over a p ...
Monday, 31 August 09
INDONESIA ADARO'S NET PROFIT SOARS 1,506 PERCENT ON HIGH PRICES
The Jakarta Post reported that, the country's second largest coal producer, PT Adaro Energy said Sunday that its first-half net profit soared 1,506 ...
Sunday, 30 August 09
THE FUTURES FOR THREE YEARS FOR 2010-2012 IS AROUND PANAMAX / US$ 15,500 & SUPRAMAX / US$ 13,500 PER DAY
COALspot.com (Singapore): The dry bulk market continued to be soft this week and the BDI was almost stable and closed at 2,421 points this week.
...
Friday, 28 August 09
INDONESIA SEEKS TO INCREASE COAL PRODUCTION TO BOLSTER REVENUE
The Jakarta Post, the leading english news paper in Indonesia reported that, Indonesia expects to increase coal production by up to 20 million tons ...
Friday, 28 August 09
MERCURIA ENERGY OPENS INDONESIA TRADING OFFICE
COALspot.com ( Indonesia): Mercuria Energy Group has opened a new office in Jakarta, Indonesia, focussed on trading coal.
Jakarta-based Emanuele ...
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- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
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