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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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Thursday, 23 December 21
COAL DEMAND TO PEAK IN INDIA BY 2030, WILL BACK UP RENEWABLES: NITI REPORT - BUSINESS STANDARD
Coal will remain India’s mainstay energy source and the country will shape global demand this decade, two reports have said a month after the ...
Thursday, 23 December 21
INDONESIA’S 2022 COAL OUTPUT SEEN BETWEEN 637 MLN-664 MLN T- OFFICIAL - REUTERS
Indonesia’s 2022 coal output is estimated at between 637 million to 664 million tonnes based on production plans currently being finalised, s ...
Thursday, 23 December 21
INDIA: CAPTIVE POWER PRODUCERS URGE GOVT TO ENSURE NORMAL COAL SUPPLIES - PTI
A captive power producers’ association has urged the government for 100 per cent normalisation of coal supply to captive power producers whil ...
Thursday, 23 December 21
MARKET INSIGHT - INTERMODAL
As an outstanding year for the dry bulk freight market comes to a close, so does a thriving year for the SnP market which can only be compared to 2 ...
Tuesday, 14 December 21
COAL LOCK-IN IN SOUTHEAST ASIA PRESENTS A CHALLENGE FOR THE ASIAN DEVELOPMENT BANK'S COAL RETIREMENT PLAN - IEEFA
In August, the Asian Development Bank (ADB) announced an ambitious plan to buy high emissions coal-fired power plants in Southeast Asia and retire ...
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- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- PTC India Limited - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
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