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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, 25 November 21
SE ASIA POWER DEMAND TO RISE AS STATE SUPPORT MITIGATES COVID-19 IMPACT - FITCH RATINGS
Electricity demand in south-east Asia is likely to increase in 2021, following slow growth or contraction in 2020, thanks to state support that has ...
Thursday, 25 November 21
FITCH RATINGS INCREASES MOST GLOBAL METALS AND MINING PRICE ASSUMPTIONS - FITCH RATINGS
Fitch Ratings has increased most metals and mining price assumptions, particularly those that benefit from increased longer-term demand due to glob ...
Thursday, 25 November 21
CHINA'S COAL PRICE DROPS IN MID-NOVEMBER AMID GOVERNMENT’S SWEEPING MEASURES - GLOBAL TIMES
China’s coal prices have dropped significantly in mid-November compared with the beginning of the month, with the price of coking coal and co ...
Wednesday, 24 November 21
MARKET INSIGHT - INTERMODAL
Inflation is the word that has dominated the meetings of foreign leaders and finance ministers in recent weeks, as rising energy costs, supply chai ...
Wednesday, 24 November 21
WHY THIS MINING ANALYST IS UPBEAT ON THE IRON ORE PRICE FORECAST - MOTLEY FOOL
In many ways, 2021 can be called the year of the iron ore price. Much of the talk of the ASX town this year has revolved around this key economic m ...
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- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
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