We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 10 August 09
POLICY HURDLES DELAY NALCO'S U$$ 4.166 BILLION OVERSEAS PROJECTS
National Aluminium Company Ltd's (NALCO) greenfield projects in overseas markets like Indonesia and Iran are in limbo because of political
...
Monday, 10 August 09
SAIL, TATA STEEL TO REDUCE COAL IMPORTS BY PARADIP PORT
World Shipping News reported that, Steel Authority of India Ltd (SAIL) and Tata Steel have scaled down coal imports through Paradip Port, hit by pre ...
Monday, 10 August 09
NTPC LIKELY TO SET UP POWER PLANTS IN NIGERIA AND SRILANKA
Economic time reported that, National Thermal Power Corporation Limited (NTPC), country's largest power utility, is likely to set up power plants i ...
Monday, 10 August 09
VINACOMIN TO SELL COAL AT MARKET PRICES TO DOMESTIC USERS
VNBusinessNews.com - Reuters reported that Vietnamese government has agreed to let coal monopoly Vinacomin sell coal at market oriented prices to do ...
Sunday, 09 August 09
TNEB ENNORE PORT CALLS TO TRIPLE COAL OUTPUT
World Shipping News reported that, the Tamil Nadu Electricity Board (TNEB) has asked Ennore Port Ltd (EPL) to increase the port’s installed ca ...
|
|
|
Showing 6521 to 6525 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
|
| |
| |
|
