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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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Monday, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
Sunday, 14 March 10
CHINESE COAL PRICE MAY RISE TO TRADE NEAR SPOT, MACQUARIE SAYS
Bloomberg reported that, Steel mills in China, the world’s biggest producer of the alloy, may pay more for domestic coking coal this year as d ...
Sunday, 14 March 10
THERE IS NO INDICATION OF SLOWING DOWN OF IRON ORE AND COAL IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com: The dry bulk freight market continued the upward trend and the BDI closed 8.14 pct this week.
The Cape index up by 10.32 pct ...
Saturday, 13 March 10
INDONESIA COAL EXPORTS DROP IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons in January 2010 which fell slightly to 22.89 mln ton of coal i ...
Saturday, 13 March 10
INDONESIA TELLS BUKIT ASAM TO DITCH PARTNER IN SUMATRA RAILWAY UNLESS PROJECT STARTS
The Jakarta Globe reported that, the Indonesian government has urged state-owned miner PT Tambang Batubara Bukit Asam to look for new partners to he ...
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- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
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