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Saturday, 13 March 10
OPTIMUM COAL AIMS TO RAISE R1,6 BILLION IN LISTING
 All Africa reported that, COAL mining and exploration company Optimum Coal yesterday announced plans to list on the JSE at the end of the month. It expects to raise about R1,6bn in the initial public offering (IPO).
Optimum Coal is the sixth-largest producer and the fourth-largest exporter of thermal coal in SA - after Anglo American, BHP Billiton and Xstrata - with operations in Witbank, Mpumalanga.
The black economic empowerment company's prominent board members include nonexecutive chairman Sivi Gounden, a former director-general at the Department of Public Enterprises, and businessman and former Eskom chairman Bobby Godsell.
The listing comes as analysts have forecast IPO activity in the global mining sector will gather pace this year as companies seek alternative ways of funding after the devastating credit crunch a year ago.
Optimum said it expected to raise R1,6bn through a subscription for new shares and an offer for sale by certain shareholders.
The offer consists of the sale of up to 42,75-million fully paid ordinary shares priced between R34 and R37, made up of an offer for subscription of 24-million shares and an offer for sale by the selling shareholders of up to 18,75- million ordinary shares. The price of the shares will be announced on March 24.
The company said it would be meeting with invited individuals and institutions in SA and abroad over the next two weeks, ahead of the listing.
CEO Mike Teke said the listing came at a time of robust demand for coal. "Optimum has strategically located operations with good access to rail infrastructure, rapid loading and export facilities, and a large export entitlement at Richards Bay Coal Terminal.
"We are cash generative and have a strong balance sheet, which provides a sound platform for growth. We believe the time is right for Optimum to list as there are few pure coal plays on the JSE. We can now begin accelerating towards our vision to become the benchmark South African-owned and controlled coal mining and exploration group."
Last month Ernst & Young said the credit squeeze in 2008 fundamentally changed the way the industry will be financed in future. Equity was expected to play a greater role in the next wave of growth, with the IPO market starting to recover this year.
"Following the decline of the project finance model, we could see a return to individual mines being floated, with proceeds used for development and investors sharing in the profits when the mine goes into production.
"A recovery in IPOs has begun, but will require a sustainable period of stability in global stock markets and metals prices to return to former levels."
Source: All Africa - By:Bheki Mpofu
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Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
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- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
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