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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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Wednesday, 30 December 09
CHINA'S 2010 COAL DEMAND COULD RISE 4%-6%, ACCORDING TO CHINA SECURITIES JOURNAL
China, which is the world’s second-largest energy user, may consume between 4 and 6% more coal next year on continued economic growth, China S ...
Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
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- Power Finance Corporation Ltd., India
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- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
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- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
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- Eastern Coal Council - USA
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- Altura Mining Limited, Indonesia
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- Coal and Oil Company - UAE
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- Planning Commission, India
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- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
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- Australian Coal Association
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- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
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- Bhatia International Limited - India
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- VISA Power Limited - India
- India Bulls Power Limited - India
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- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
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- MS Steel International - UAE
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
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- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
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- Africa Commodities Group - South Africa
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- New Zealand Coal & Carbon
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- Medco Energi Mining Internasional
- White Energy Company Limited
- PowerSource Philippines DevCo
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- Attock Cement Pakistan Limited
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- Baramulti Group, Indonesia
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- Sindya Power Generating Company Private Ltd
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- PTC India Limited - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Parliament of New Zealand
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- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
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