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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 $19.5 billion investment from state-owned Aluminum Corp. of China.
Rio said in 2007 when announcing its plan to sell Rio Tinto Energy America that the unit was the second-largest U.S. coal producer. Output last year was a record 133.3 million metric tons, including 38.2 million tons from Jacobs Ranch, according to Rio’s annual report.
Peabody Energy Corp. is the largest U.S. coal producer.
Source: Bloomberg
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Monday, 17 August 09
COAL IMPORTS SURGE IN H1
China is one of the world's leading coal producers. But even so, imports of coal have surged in the first half of the year, hitting a record in Jun ...
Monday, 17 August 09
CHINESE COAL PURCHASE COULD START A TREND
ABC Rural reported that, The takeover of a major Australian coal mining company by Chinese-owned Yanzhou has raised fears coal markets could be domi ...
Saturday, 15 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The dry bulk market continued to be soft in the beginning of the week, however towards to end of the week the BDI recovere ...
Friday, 14 August 09
ASIA GREEN TO SELL MORE COAL
I Stock Analyst reported that, Asia Green Energy Plc (AGE) aims to increase its coal sales by 20 percent to 1 million tonnes this year, given the gl ...
Friday, 14 August 09
INDONESIA COAL-PRICES FALL TO $74, INDIA EYES SEPT CARGOES
Reuters reported that, Prices of power-station coal from Australia fell to around $74 a tonne as demand eased, while Indian buyers started to look f ...
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- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
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