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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, 21 August 09
HUANENG YIMIN TO HIKE COAL OUTPUT
China Daily, the largest English portal in China reported that, China's first large coal-electricity joint project, Huaneng Yimin Coal Electricity ...
Thursday, 20 August 09
INDONESIA'S DELTA DUNIA BUYS COAL FIRM FOR $550 MLN
* Delta Dunia to acquire BUMA for $550 million
* Expect to complete the deal in the fourth quarter of 2009
* Delta Dunia has appointed Barclays Ca ...
Thursday, 20 August 09
MUNDRA PORT BAGS MORMUGAO PORT COAL TERMINAL DEVELOPMENT CONCESSIONS
NDTV reported that, Mundra Port and Special Economic Zone (Mundra Port) the largest private port in India has won the bid for the development of coa ...
Thursday, 20 August 09
INDONESIA'S BUKIT ASAM SET FOR MINE ACQUISITIONS
* Allocates $150 million for coal mine acquisitions
* Expects one deal to be completed by the end of 2009
Reuters world's largest international ...
Thursday, 20 August 09
INDONESIAN COAL EXPORT LESSENS IN FIRST SEMESTER
Domestic coal use has grown by five million tons.
Viva News reported that, Domestic coal export up until the first half of 2009 decreased by four ...
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- Ministry of Mines - Canada
- White Energy Company Limited
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- Medco Energi Mining Internasional
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
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- Commonwealth Bank - Australia
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- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
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- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
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- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
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- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- PTC India Limited - India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
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- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
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