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Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
 Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
The company, which is already the world's largest producer of low volatile pulverised injection coal, is seeking to boost production and widen its offering to take advantage of strong Asian demand for steelmaking and steam coal.
Macarthur will offer 0,84 of its own shares or A$8 a share for each Gloucester share in two separate offers, the firm said on Tuesday. The share portion is worth A$8,16 apiece based on Macarthur's closing price on Monday.
Noble Group, which is Gloucester's biggest shareholder, with 87,7%, has indicated it will support the proposal.
Further, Gloucester's independent directors said that, in the absence of a better proposal, and subject to an independent report on the fairness of the offer, they will unanimously recommend Macarthur's bid for the company.
Macarthur also said that it is in talks with Noble to buy its interest in the Middlemount mine joint venture, in central Queensland, and for a majority stake (likely 79,9%) in Donaldson Coal, which has operations in the Hunter Valley.
Noble currently owns 25,34 of Middlemount and Macarthur holds the balance.
Altogether, if the Middlemount and Donaldson transactions are completed, Macarthur will pay Noble A$175-million and 22,5-million of its shares.
Macarthur said the deals being proposed would make it Australia's leading independent coal producer, with a market capitalisation of about A$3,4-billion.
The company would have six operating mines in two states, shipping through two coal terminals.
“The proposed transactions will create a great Australian coal company,” said Macarthur chairperson Keith DeLacy.
“Gloucester and Macarthur shareholders will have exposure to high-quality producing coal miners in three separate coal basins, with strong growth potential.”
Noble, which is part owned by China Investment Corporation, said that it will take shares in Macarthur rather than cash if it accepts the Gloucester offer.
If all the transactions are completed, it will hold 23% of the merged company.
“The combination of these highly complementary assets will provide Noble with exposure to what will be the largest independent coal producer in Australia, a critical supplier to the Asian growth markets,” said Noble CEO Richard Elman.
The company acquired its majority stake in Gloucester in May this year for A$7 a share.
Source: Mining Weekly / Liezel Hill
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Sunday, 03 January 10
BHP TO STAY IN MARUWAI AND TO KEEP 75 PERCENT OF THE STAKE
Despite recent statements that it would pull out completely from Indonesia, the world's largest mining company BHP Billiton has now admitted that i ...
Saturday, 02 January 10
INDONESIAS COAL OUTPUT RISES BY 5%
Indonesia, Asia’s largest coal exporter, produced 254 million tons of coal in 2009, a 5.8 percent increase from 2008 and well ahead of the gov ...
Saturday, 02 January 10
TAIPOWER FORECASTS COAL DEMAND TO SNAP DECLINE
Taiwan Power Co., Asia's biggest importer of thermal coal, expects its demand for the fuel to rise in 2010 after falling for two years as the islan ...
Friday, 01 January 10
COAL INDIA TO START IMPORTING DIRECTLY
According to sources, the coal major has already finalised tender document to import four million tonnes thermal grade coal for supplies to NTPC. Th ...
Thursday, 31 December 09
INDONESIA SEES 2010 MINING INVESTMENT UP 39 PCT
Reuters reported that, Indonesian mining investment is expected to hit $2.5 billion next year, up from $1.81 billion in 2009, supported by greater c ...
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- Indonesian Coal Mining Association
- Minerals Council of Australia
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Australian Coal Association
- Bangladesh Power Developement Board
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
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