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 $19.5 billion investment from state-owned Aluminum Corp. of China.
Rio said in 2007 when announcing its plan to sell Rio Tinto Energy America that the unit was the second-largest U.S. coal producer. Output last year was a record 133.3 million metric tons, including 38.2 million tons from Jacobs Ranch, according to Rio’s annual report.
Peabody Energy Corp. is the largest U.S. coal producer.
Source: Bloomberg
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 24 July 09
INDIA TAKES 9 MILLION TONNES S. AFRICAN COAL JAN - JUNE
Reuters reported that, India accounted for nearly 9 million tonnes of South Africa's January-June exports of around 28 million tonnes, industry sour ...
Thursday, 23 July 09
KOMIPO LAUNCHES TWO COAL TENDERS
Korea Midland Power on Wednesday launched two tenders to procure bituminous or semi-anthracite coal for August to September delivery. Bids close on J ...
Thursday, 23 July 09
GUANGDONG BUYERS SET TO IMPORT 2.3 MILLION MT FROM VIETNAM - MEDIA
Several coal-consuming companies in China’s Guangdong Province, headed by Guangdong Yudean Group (Guangdong Power Generation Group), have inke ...
Thursday, 23 July 09
KEPCO BUYS 1.5% STAKE IN ADARO ENERGY FOR US$ 56.5M
WSJ reported that, state-run utility Korea Electric Power Corp., or Kepco, Thursday said it has acquired a 1.5% stake in Indonesian coal miner, PT A ...
Thursday, 23 July 09
INDONESIA COAL-PRICES CLIMB TO $80, INDIAN DEMAND SLOWS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, jumped to nearly $80 a tonne this week, while Indonesi ...
|
|
|
Showing 6566 to 6570 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- The University of Queensland
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Planning Commission, India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
|
| |
| |
|
