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.
|
|
Wednesday, 05 August 09
PEOPLE'S MINING SHOULD BE REGULATED UNDER RPP MINERBA
The Indonesian Institute of Science (LIPI) has called on the government to include a specific provision for people’s mining in the draft govern ...
Tuesday, 04 August 09
SRI LANKA IS LOOKING FOR 650,000 TON OF COAL NEXT YEAR FOR ITS FIRST 900 MW POWER PLANT.
COALspot.com ( Sri Lanka) : Lanka Coal Company Limited was issued a tender on 23 July 2009 to purchase 650,000 +/- 20% MT Bituminous Coal per a ...
Monday, 03 August 09
ONE YEAR CHARTER RATES FOR SUPRAMAX WAS AT AROUND USD 18,500 - VISTAAR SINGAPORE
COALspot.com (Singapore) : The freight market was flat this week with hardly any change in the BDI.The cape was up by about 4 pct and closed at 5,38 ...
Saturday, 01 August 09
APGENCO SAYS BOUGHT 500,000T MALAYSIAN COAL
The Malaysian Insider reported that, Indian state utility Andhra Pradesh Power Generation Corporation Ltd (Apgenco) has bought 500,000 tonnes of Mal ...
Thursday, 30 July 09
KOMIPO OFFERED 3 MILLION MT IN TENDER, TEN TIMES OVERSUBSCRIBED
Korea Midland has received offers for 3 million mt of bituminous steam coal in its latest tender despite the power utility seeking only 300,000 mt, ...
|
|
|
Showing 6541 to 6545 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
|
| |
| |
|
