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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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Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
Monday, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
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- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- The University of Queensland
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Australian Coal Association
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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