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Post by oldman on Feb 22, 2015 20:04:09 GMT 7
Be careful of the valuations of coal companies.....
A Coal Producer Just Bought Back His Family's Business for 99% Less Than He Sold It For - 18th Feb 2015 The family of Jim Justice paid $5 million for several mining sites and processing plants in southern West Virginia previously owned by Russia’s OAO Mechel. The family sold Bluestone Coal Corp. in 2009 for a combination of cash and Mechel stock in a deal valued at $568 million, according to data compiled by Bloomberg.
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Post by zuolun on Feb 24, 2015 14:20:44 GMT 7
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Post by zuolun on Feb 27, 2015 7:21:11 GMT 7
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Post by zuolun on Feb 28, 2015 10:31:06 GMT 7
Gloom for Hebei as steel loses shine ~ 27 Feb 2015 "Ten years ago, it was equivalent to the price of a cell phone [about 3,000 yuan or 480 U.S. dollars]. After 2010, it was worth about the same as one kg of pork [about 30 yuan] and today, it is dirt cheap." ArcelorMittal Reports $955 Million Loss; ThyssenKrupp Ekes Out a Small Profit ~ 13 Feb 2015 "The company’s large mining operations were hit by the sharp fall in iron ore prices, while its North American steel unit also slowed. The Luxembourg-based steel maker’s write-off of $621 million on its investment in China Oriental, a Chinese steel business, was another big contributor to the loss."
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Post by zuolun on Mar 28, 2015 16:04:17 GMT 7
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Post by zuolun on Apr 25, 2015 10:07:17 GMT 7
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Post by zuolun on Apr 27, 2015 6:49:10 GMT 7
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Post by zuolun on May 2, 2015 11:23:12 GMT 7
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Post by zuolun on May 7, 2015 18:20:34 GMT 7
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Post by zuolun on May 12, 2015 22:16:14 GMT 7
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Post by zuolun on Jun 15, 2015 7:08:07 GMT 7
Nat Rothschild lays down Arms in battle with Asia Coal Energy Ventures ~ 9 June 2015 Nat Rothschild walks away from Indonesia but not mining ~ 8 June 2015 Last act of an Indonesian farce ~ Never again, vowed Nat Rothschild as he bowed out of his ill-fated adventure into Indonesian coal that traded for most of its miserable life as Bumi. NR Holdings, his investment vehicle, is accepting the 56p-a-share offer for the renamed Asia Resources Minerals (ARMS) from Asia Coal Energy Ventures. “This will be our first and last investment in Indonesian’s coal sector,” said Rothschild. At the final hour, he secured a few extra pennies on the take-out price. In every other respect, though, this saga has been an embarrassment from start to finish – for him, for his backers and for the London stock market. Bumi was imagined as commodities conglomerate, an mini-Xstrata in the making. It would snap up under-appreciated resources in emerging markets and impose western-style corporate governance. Nice idea, but there was a flaw at the outset: the London-listed company only even had a 29% stake in its main Indonesian assets. Rothschild is rich enough to take the personal hit, possibly £80m. It’s hard, though, to imagine he’ll ever again be able to raise £700m from investors to pursue a foreign adventure, even if it’s miles away from Indonesia. ~ 8 June 2015
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Post by zuolun on Jul 14, 2015 10:14:37 GMT 7
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Post by oldman on Aug 1, 2015 6:50:16 GMT 7
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Post by zuolun on Aug 13, 2015 17:31:15 GMT 7
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Post by zuolun on Aug 18, 2015 14:44:08 GMT 7
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