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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 $19.5 billion investment from state-owned Aluminum Corp. of China.
Rio said in 2007 when announcing its plan to sell Rio Tinto Energy America that the unit was the second-largest U.S. coal producer. Output last year was a record 133.3 million metric tons, including 38.2 million tons from Jacobs Ranch, according to Rio’s annual report.
Peabody Energy Corp. is the largest U.S. coal producer.
Source: Bloomberg
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Saturday, 08 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market tumbled this week and the BDI dropped by almost 17% and closed at 2,772 points.
The cape and panam ...
Saturday, 08 August 09
SULTAN MINING SIGNS P8-BILLION, 10-YEAR COAL-SUPPLY CONTRACT WITH KEPCO POWER CORP.
COAL developer Sultan Mining and Energy Development Corp. (SMEDC) reported on Thursday that its subsidiary MG Mining and Energy Corp. signed an P8-b ...
Friday, 07 August 09
NEED TO HIKE DOMESTIC PRICES - COAL INDIA
WSJ reported that, The chairman of Coal India Ltd., the country's biggest coal producer, Friday said there was a need to hike domestic coal prices ...
Friday, 07 August 09
INDONESIA COAL NEWS UPDATES
PTBA to Produce 13 Million Tons
President Director of Tambang Batubara Bukit Asam (PTBA), Sukrisno has estimated coal production of the company th ...
Friday, 07 August 09
BALTIC DRY INDEX HAS WORST WEEK SINCE OCTOBER AS DEMAND SLOWS
Bloomberg reported that, The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October as Chinese demand for s ...
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- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- White Energy Company Limited
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Indonesian Coal Mining Association
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