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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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Friday, 04 February 22
RENEWABLES ON THE RISE, COAL CONTINUOUSLY FALLING - EUROPEAN COMMISSION
Although oil (34.5%) and natural gas (23.7%) were still the most important fuel sources in the EU energy mix in 2020, renewable energy’s shar ...
Thursday, 03 February 22
COAL SHORTAGE NOW AT ALARMING LEVELS, SAY ALUMINIUM PRODUCERS - IANS
With no relief in sight despite coal stocks running critically low and production disruptions looming across the Indian aluminium sector, the Alumi ...
Wednesday, 02 February 22
HIGH COKING COAL PRICES PROVIDE GLIMPSE INTO STEELMAKING'S FUTURE - MCKINSEY
Last year was a volatile one in global commodity markets. Demand for coking coal, an essential raw material in the production of steel, was extreme ...
Wednesday, 02 February 22
INDONESIA'S RESTRICTIONS ON COMMODITIES RATTLE MARKETS, MORE MOVES LIKELY - REUTERS
In just the first month of this year, Indonesian policymakers have rattled global markets with restrictions on some of its biggest commodities expo ...
Wednesday, 02 February 22
CHINA'S TOP COAL PRODUCER FORECASTS 28 PCT PROFIT GROWTH IN 2021 - XINHUA
China Shenhua Energy Company Limited, one of the country’s biggest coal producers, said its net profits are expected to jump by 28 percent in ...
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- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- PTC India Limited - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
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