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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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Tuesday, 18 August 09
BANPU TO FOCUS ON CORE BUSINESS
Banpu, the country's leading energy firm, expects to conclude its four-year strategic plan next month, resulting in a strengthening of its core bus ...
Monday, 17 August 09
COAL EXPORTS CONTINUE DESPITE SHORTAGE
Vietnam News reported that, Viet Nam is exporting more coal despite a warning from experts that the country could face a shortage of this fossil fue ...
Monday, 17 August 09
S.KOREA JULY COAL IMPORTS UP TO 8.97 MLN T
* Imports of heating coal in July up 3.7 percent on year
* LNG imports in July fall for seventh straight month
Alibaba reorted that, South Kore ...
Monday, 17 August 09
COAL INDIA PLANS A PRICE HIKE OF 11%
With the state-run CIL mining 84% of the coal produced in the country, an 11% increase will push up inflation by around 0.16%, the company said
L ...
Monday, 17 August 09
BANPU SEES INDONESIAN MINE OUTPUT UP 10 PCT IN 2010
Reuters reported that, Thailand's top coal miner, Banpu, said on Monday it expected coal output from its Indonesian mines to rise 10 percent to abo ...
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- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
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