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Thursday, 23 December 21
VALE ANNOUNCES THE SALE OF ITS COAL ASSETS
Vale informs that, on this date, it has entered into a binding agreement with Vulcan to sell the Moatize coal mine and the Nacala Logistics Corridor for total proceeds of US$ 270 million, comprised of US$ 80 million at Closing and US$ 190 million from the existing business until Closing; plus a 10-year Royalty Agreement subject to certain mine production and coal price conditions. The Closing of the transaction is subject to the satisfaction of customary conditions precedent, including the approval of the Ministry of Mineral Resources and Energy of Mozambique pursuant to the Mining Law No. 20/2014, and the approval of the Government of Mozambique pursuant to the Concession Agreements for the change of control and antitrust. Vale is committed to work together with both Mozambique and Malawi governments to ensure a smooth transition to the new operator.
Divestment process
In early 2021, Vale announced its objective to no longer own coal assets, focusing on its core businesses and on its ambition to become a leader in low-carbon mining. Over the past 15 years, Vale has worked in partnership with Mozambique and Malawi governments in the implementation of the Moatize mine and NLC’s 912-km railway for coal transportation, in addition to the revamp of general cargo operations and passengers transportation. These investments represent a relevant legacy to the countries and are an important driver for local development. While conducting a responsible search process for an investor in the coal business, Vale continued to support the project’s ramp-up and its commitments to society and stakeholders.
I am pleased to announce this important step for the responsible divestment of Moatize and NLC, in a transaction that benefits the communities and governments where those operations are located and offering a sustainable future for the operations. This is another accomplishment on our commitment to reshape our company, focusing on our core businesses, said Eduardo Bartolomeo, Vale CEO.
Source: Vale
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Tuesday, 08 March 22
RUSSIA-UKRAINE CONFLICT ADDS IMPETUS TO ASIA'S ENERGY TRANSITION - IEEFA
Clean energy alternatives are a crucial hedge against future disruptions in global commodity markets
Russia’s invasion of Ukra ...
Tuesday, 08 March 22
THE HIGH COST OF INDONESIA’S DOWNSTREAM COAL PROJECTS IS UNDERESTIMATED - IEEFA
Three Indonesian ministries have come up with a DME purchase price of US$378/tonne fixed for 20 years compared to IEEFA’s US$601/tonne estima ...
Wednesday, 02 March 22
SHIPPING MARKET INSIGHT - INTERMODAL
The escalating confrontation between Russia and Ukraine has the potential to disrupt global order and set the world back a few decades. While count ...
Tuesday, 22 February 22
THE DRY BULK MARKET HAS MOVED ON A POSITIVE TRACK - ALLIED
The dry bulk market has moved on a positive track as of the past couple of weeks or so. Following the typical softening in freight conditions durin ...
Tuesday, 22 February 22
CHINA'S DAILY OUTPUT OF COAL REBOUNDS TO OVER 12 MLN TONNES - REUTERS
China’s coal output returned to more than 12 million tonnes per day as of Feb. 20, the country’s state planner said on Monday, a level ...
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- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
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