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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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- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- The University of Queensland
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Economic Council, Georgia
- MS Steel International - UAE
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