We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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 $19.5 billion investment from state-owned Aluminum Corp. of China.
Rio said in 2007 when announcing its plan to sell Rio Tinto Energy America that the unit was the second-largest U.S. coal producer. Output last year was a record 133.3 million metric tons, including 38.2 million tons from Jacobs Ranch, according to Rio’s annual report.
Peabody Energy Corp. is the largest U.S. coal producer.
Source: Bloomberg
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring ...
Wednesday, 26 August 09
COAL INDIA MAY HIKE COAL PRICES BY UP TO RS 175 (ABOUT US$ 3.60) A TONNE
The Economic Times reported that, state-owned Coal India may hike coal prices by up to Rs 175 (~ US$ 3.60) a tonne to close the gap between domestic ...
Tuesday, 25 August 09
KOREA TO INTRODUCE COAL-MINING ROBOTS TO REDUCE THE RISK OF HUMAN LOSSES FROM CONVENTIONAL MINING
Far East Gizmos reported that, The state-run Korea Coal Corp. (KOCOAL) signed a memorandum of understanding (MOU) on Monday with three Korean engine ...
Tuesday, 25 August 09
INDIA'S GNFC EXTENDED ONLINE BIDDING FOR PURCHASE OF 260,000 T COAL TO 23RD SEPTEMBER 2009
COALspot.com (India): Gujarat Narmada Valley Fertilizers Co. Ltd. (GNFC) invites offers (e-Tender) for supply of 130,000 MT +/- 5% on firm basis and ...
Tuesday, 25 August 09
ANTAM CONSIDERS ACQUIRING BHP
The Jakarta Post reported that, State mining company PT Aneka Tambang (Antam) is contemplating acquiring BHP Billiton's coal concessions in Central ...
|
|
|
Showing 6471 to 6475 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
|
| |
| |
|
