COAL MINES AND MINING – NEW SOUTH WALES

Tinkler says family to quit $40m coal stake

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Original article by Paul Garvey
The Australian – Page: 6 : 18-Nov-16

Nathan Tinkler and members of his family paid about $A6.6m for a 37 per cent stake in Australian Pacific Coal in 2015. Tinkler has advised that his family intends to divest its entire holding, which is now worth some $A40m, due to APC’s long delay in finalising a deal to acquire the Dartbrook coal project in the Hunter Valley. Tinkler has also rejected speculation that APC could be a potential buyer of Anglo American’s Drayton South project if it gains environmental approval.

CORPORATES
AUSTRALIAN PACIFIC COAL LIMITED – ASX AQC, ANGLO AMERICAN PLC, BENTLEY RESOURCES PTE LTD, TREPANG SERVICES, NEW SOUTH WALES. PLANNING ASSESSMENT COMMISSION

Rio ices coal asset sale in full market

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Original article by Amanda Saunders
The Australian Financial Review – Page: 13 : 18-Apr-16

The large number of coal mines that are for sale globally has prompted Rio Tinto to put further asset sales on hold until the market improves. Rio is seeking buyers for the Mount Thorley Warkworth and Hunter Valley Operations mines in New South Wales, but it has not been able to find a buyer that is willing to pay a premium for the high-quality assets. Meanwhile, Whitehaven Coal MD Paul Flynn expects more mining companies to offer quality coal assets for sale.

CORPORATES
RIO TINTO LIMITED – ASX RIO, WHITEHAVEN COAL LIMITED – ASX WHC, GLENCORE PLC, ANGLO AMERICAN PLC, PEABODY ENERGY CORPORATION, VALE SA, BHP BILLITON LIMITED – ASX BHP, APOLLO GLOBAL MANAGEMENT LLC, BANK OF AMERICA CORPORATION, MERRILL LYNCH AND COMPANY INCORPORATED

Rio offloads coal mine for $347m

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Original article by Brian Robins
The Australian Financial Review – Page: 15 & 20 : 28-Jan-16

Indonesia-based Salim Group will pay $US244m ($A347m) for Rio Tinto’s undeveloped Mount Pleasant thermal coal asset in New South Wales. The deal also includes payment of a two per cent royalty if the thermal coal price rises to $US72.50 ($A104) per tonne. Thermal coal is currently trading at around $US50 per tonne, compared with about $US100 just 18 months ago. Rio Tinto previously sold its 40 per cent stake in the Bengalla thermal coal mine.

CORPORATES
RIO TINTO LIMITED – ASX RIO, SALIM GROUP, ANGLO AMERICAN PLC, CITIGROUP PTY LTD, NEW HOPE CORPORATION LIMITED – ASX NHC, PATERSONS SECURITIES LIMITED, ASCIANO LIMITED – ASX AIO, PACIFIC NATIONAL PTY LTD, AURIZON HOLDINGS LIMITED – ASX AZJ, PEABODY ENERGY CORPORATION, INDOFOOD, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD

Tinkler to fight anti-coal activists

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Original article by Paul Garvey
The Australian – Page: 16 : 6-Jan-16

Australian businessman Nathan Tinkler is confident that residents of the Hunter Valley in New South Wales will support his plan to resume production at the Dartbrook coal mine. Tinkler’s Australian Pacific Coal secured a deal to buy the mine for $A25m in late 2015, and it must finance the deal by the end of January 2016. Tinkler proposes an open-cut operation at Dartbrook, which is likely to face resistance from people who oppose coal mining.

CORPORATES
AUSTRALIAN PACIFIC COAL LIMITED – ASX AQC, TREPANG SERVICES PTY LTD, ANGLO AMERICAN PLC, PATINACK FARM PTY LTD, NEWCASTLE KNIGHTS LIMITED, NEWCASTLE UNITED SPORTS CLUB LIMITED

Strikers still eligible for productivity bonus

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Original article by Ewin Hannan
The Australian Financial Review – Page: 9 : 6-Oct-15

The full bench of the Fair Work Commission has rejected a bid by Thiess to overturn a previous ruling on the payment of a productivity bonus to coal miners who had gone on strike. The Construction, Forestry, Mining & Energy Union had argued that workers at the Mt Owen mine in New South Wales should be entitled to the productivity-linked component of a weekly allowance, despite being on strike for three months. The union had argued that an enterprise agrement did not specify any causes for non-payment of the bonus.

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION, THIESS PTY LTD, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA

Rio Tinto finds New Hope after early win on coal exit

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Original article by Amanda Saunders
The Australian Financial Review – Page: 23 & 28 : 1-Oct-15

Australian-listed New Hope Corporation will pay $A867m for Rio Tinto’s 40 per cent stake in the Bengalla thermal coal mine in New South Wales. Rio is also seeking to offload its stakes in the Mount Thorley Warkworth and Hunter Valley Operations coal mines in the Hunter Valley. A number of other companies submitted bids to acquire the stake in Bengalla, which produced 8.6 million tonnes of thermal coal in 2014.

CORPORATES
RIO TINTO LIMITED – ASX RIO, NEW HOPE CORPORATION LIMITED – ASX NHC, BENGALLA COAL MINES, COAL AND ALLIED INDUSTRIES LIMITED, MITSUBISHI CORPORATION, WESFARMERS LIMITED – ASX WES, TAIWAN POWER COMPANY, MITSUI AND COMPANY LIMITED, MORGAN STANLEY AUSTRALIA LIMITED, MACQUARIE EQUITIES LIMITED, SHAW AND PARTNERS LIMITED, DEUTSCHE BANK AG, GLENCORE PLC

China’s demand for coal up 22pc

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Original article by Sarah-Jane Tasker
The Australian – Page: 17 : 19-Jan-15

New data on coal shipments from New South Wales (NSW), issued by Coal Services, show that during 2013-14 there was an increase of 8% to 167 million tonnes. Exports to China were especially strong, despite forecasts of the boom ending, and grew 22%. China is now ranked behind just Japan and buys 23% of all coal exported by NSW. This figure had been a mere 1.1% in 2007-08. NSW Minerals Council CEO Stephen Galilee says the industry itself had always been confident of healthy conditions, in contrast with its critics in the environmental movement and elsewhere

CORPORATES
COAL SERVICES PTY LTD,{SPAC}NEW SOUTH WALES MINERALS COUNCIL,{SPAC}INTERNATIONAL ENERGY AGENCY,{SPAC}AUSTRALIAN LABOR PARTY