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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, 11 August 09
ZAMBIAN COAL BUYERS CONTINUE IMPORTING COAL FROM ZIMBABWE
Lusaka Times reported that, Coal mining companies have bemoaned the lack of market for their produce as prospective buyers continue importing the co ...
Monday, 10 August 09
NOMINAL HIKE IN COAL PRICES SOON - MEDIA
The hindu business reported that, a marginal hike in coal prices is in the offing. "I will be soon approaching the Prime Minister on the matter ...
Monday, 10 August 09
MANGALAM CEMENT PLACES ORDER FOR CAPTIVE POWER PLANT
Steel Guru reported that, Mangalam Cement Ltd has announced that the company on August 6th 2009 finalized order for Captive Thermal Power Plant of 1 ...
Monday, 10 August 09
VIET NAM COAL EXPORTS HIT 13.5 MILLION TONNES
VietNamNet Bridge reported that, Viet Nam exported more than 13.5 million tonnes of coal in the first seven months of this year, equal to the same p ...
Monday, 10 August 09
S.KOREA KOSPO ISSUES SPOT, TERM COAL TENDERS
Korea Southern Power Co Ltd (KOSPO) is seeking 1.5 million tonnes of steam coal per year for delivery from October 2009 through September 2012 via a ...
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- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- The University of Queensland
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Planning Commission, India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
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