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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 $19.5 billion investment from state-owned Aluminum Corp. of China.
Rio said in 2007 when announcing its plan to sell Rio Tinto Energy America that the unit was the second-largest U.S. coal producer. Output last year was a record 133.3 million metric tons, including 38.2 million tons from Jacobs Ranch, according to Rio’s annual report.
Peabody Energy Corp. is the largest U.S. coal producer.
Source: Bloomberg
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Friday, 14 August 09
GUACOLDA STARTS THIRD COAL-FIRED UNIT
Macorship reported that, Chile’s Empresa Electrica Guacolda said that the third unit at its Guacolda coal-fired power plant began supplying po ...
Thursday, 13 August 09
NOBLE'S PROFIT DOUBLES ON GLOUCESTER COAL ACQUISITION
Bloomberg reported that, Noble Group Ltd., a Hong Kong-based supplier of raw materials from soybeans to coal, said second- quarter profit more than ...
Thursday, 13 August 09
CHINA COAL-PRICES UNCHANGED, BUT LIKELY TO MOVE HIGHER
Alibaba reported that, Spot coal prices in China's top coal port Qinhuangdao were unchanged from a week earlier, but are still looking bullish in t ...
Thursday, 13 August 09
INDONESIA'S BERAU COAL SEES 2010 OUTPUT UP 16 PCT
Reuters reported that, Indonesia's fifth-largest coal miner, PT Berau Coal, expects 2010 production to be nearly 16 percent higher than this year, ...
Thursday, 13 August 09
JAYPEE GROUP. L&T INK RS 4,000-CRORE (US$ 824,818,084) DEAL
Second order bagged by L&T in the supercritical segment.
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has s ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
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- Planning Commission, India
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- Sindya Power Generating Company Private Ltd
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- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
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- Sakthi Sugars Limited - India
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- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
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- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
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- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
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- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Australian Coal Association
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
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- Global Business Power Corporation, Philippines
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- Intertek Mineral Services - Indonesia
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