Coal

Riversdale Mining and Rio Tinto have enterd a Bid Implementation Agreement, under which Rio Tinto has agreed to make an all cash off-market takeover bid at AU$ 16/share.

Santos LNG has sold stakes in its Gladstone LNG project to KOGAS and Total and signed a 20 year supply agreement with KOGAS.

Lanco Infratech Ltd, a major Indian infrastructure company, has acquired Western Australian coal miner, Griffin Coal Mining Co. Pty Ltd and Carpenter Mine Management Pty Ltd (Griffin Coal).

Clean Coal technologies has signed an MOU to license its clean coal technology to Huamin Senior Funding Group, of China for US$ 1.5 million.

Xstrata plc has announced that it has approved the US$ 1.36 billion development of the Ravensworth North opencast mine in the in the Upper Hunter Valley of New South Wales, Australia.

CNOOC has acquired a 50% interest in Exoma’s Queensland portfolio of coal seam gas and shale gas exploration blocks; it will contribute AU$ 50 million towards exploration costs as part of the agreement.

Riversdale Mining has confirmed that it has held takeover discussions with Rio Tinto.

FLSmidth has made an offer to acquire ESSA Australia Ltd, corresponding to an enterprise value of DKK 170 million.

Walter Energy will acquire Western Coal Corp. for C$ 3.3 billion (US$ 3.3 billion) to create a leading, publicly traded, pure-play met coal producer with total coal reserves of approximately 385 million t and a significant and growing production profile in Canada, the US and the UK.

An update on the rescue efforts at the Pike River coal mine in New Zealand.

Plantation Energy Australia has signed a four year supply deal with Mitsui & Co., worth over AU$ 70 million.

Walter Energy Inc. has announced an acquisition proposal and exclusivity agreement with Western Coal Corp. It has also agreed to acquire a 19.8% stake in Western Coal from Audley Capital.

Continental Coal’s South African subsidiary has completed the US$ 35 million acquisition of unlisted South African thermal coal mining and export coal producing company, Mashala Resources.

A brief look at the new low carbon collaboration between UK and Indian business leaders the ‘UK-India Business Leaders Climate Group.’

Although plagued by the world’s worst traffic jams, the growth of China’s coal industry shows no signs of stopping. Ng Weng Hoong reports.