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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, 24 November 21
PRICE OF CHINA’S COAL FUTURE DROPS BY 60% AS NATIONWIDE DAILY OUTPUT REACHES OVER 12 MILLION TONS: NDRC - GLOBAL TIMES
China’s daily coal output has now stabilized after reaching over 12 million tons and the price of coal futures has declined to 800 yuan ($125 ...
Friday, 19 November 21
CHINA: COAL SUPPLIES TO STABILIZE FOR COMING COLD SEASON
China is capable of ensuring stable coal supplies this winter and next spring with the increase in coal production and the rising stockpiles at pow ...
Wednesday, 17 November 21
MARKET INSIGHT - INTERMODAL
It has been another declining week for the dry bulk market and evidently, we are seeing asset values gradually losing momentum as well. Following a ...
Tuesday, 16 November 21
EARNINGS RECOVERY IN INDONESIAN COAL TO CONTINUE THROUGH 2021, BUT SLOW IN 2022 - FITCH RATINGS
The recovery in the operating and financial performance of Indonesian coal miners and coal contractors is likely to slow in 2022, but coal prices s ...
Tuesday, 16 November 21
INDONESIA’S 2022 COAL USE FOR POWER GENERATION SET TO RISE 3% - REUTERS
Indonesia’s coal consumption for power generation is likely to rise by 3.1% next year compared to 2021, the head of the country’s state ...
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- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- The University of Queensland
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
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