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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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Wednesday, 02 February 22
COAL STORAGE IN CHINA’S POWER PLANTS NEAR RECORD HIGHS - XINHUA
Coal inflows into China’s power plants have picked up, bringing their coal storage to near record highs, the National Development and Reform ...
Wednesday, 02 February 22
MARKET INSIGHT - INTERMODAL
Oil prices have rallied to the highest level since October 2014 breaking above $90/bbl recently. November 2014 was the point when OPEC unleashed pr ...
Monday, 31 January 22
HOW INDONESIA'S COAL EXPORT BAN COULD IMPACT INDIA - IEEFA
What does it mean for power generation and energy security?
Not long ago, India faced coal shortages due to a decline in domestic co ...
Sunday, 30 January 22
AIR PRODUCTS' COAL GASIFICATION PROPOSAL TRIGGERS LOOMING POLICY DISPUTES IN INDONESIA - IEEFA
Plan to substitute Indonesia’s LPG imports with dimethyl ether may be hard to realize due to conflicting business interests
In ...
Sunday, 30 January 22
ENDGAME FOR NEW COAL POWER PROJECTS? - IEEFA INDIA
Retired coal units must be replaced only by assets that can provide grid flexibility
Reportedly, an expert committee appointed by th ...
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- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- The University of Queensland
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Planning Commission, India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
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