{"id":1646,"date":"2016-07-13T06:22:40","date_gmt":"2016-07-13T06:22:40","guid":{"rendered":"http:\/\/yinghuiinternational.com\/?p=1646"},"modified":"2016-07-13T06:22:40","modified_gmt":"2016-07-13T06:22:40","slug":"bids-begin-for-glencore-coal-rail-assets","status":"publish","type":"post","link":"https:\/\/yinghuiinternational.com\/index.php\/2016\/07\/13\/bids-begin-for-glencore-coal-rail-assets\/","title":{"rendered":"Bids begin for Glencore coal rail assets"},"content":{"rendered":"
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Initial bids for Glencore\u2019s Hunter Valley rolling stock and haulage assets are rolling in.<\/p>\n

Three major logistics companies \u2013 Aurizon, Pacific National, and Genesee Wyoming<\/span> \u2013 are understood to have begun placing bids for the assets earlier this week, according to the AFR.<\/a><\/p>\n

While a price is yet to be fixed for the sale, it is believed the assets \u2013 generated approximately $100 million EBITDA last year, and over the last few years has had revenues around $160 million annually \u2013 are valued in the one billion dollar range.<\/p>\n

Glencore\u2019s asset sale is part of the miner\u2019s wider plan to pay down billions in debt.<\/a><\/p>\n

According to the miner, the potential sale of the assets (GRail) \u201cis in response to a strong global demand for high quality infrastructure assets and forms part of Glencore\u2019s wider global debt reduction program\u201d.<\/p>\n

Glencore initially set up GRail in 2010 in response to what it believed were high levels of access and cost from existing coal haulage operators in the Hunter Valley.<\/p>\n

Since that time it has reportedly grown to become the third largest coal haulage business in Australia, hauling around 51 million tonnes last year.<\/p>\n

According to a source close to the matter, Glencore\u2019s coal will likely be hauled by the new owner of the rail assets, although it is understood the details of the coal movement will be discussed in the new agreements.<\/p>\n

While the locomotives, wagons, and support equipment are understood to be part of the potential deal, Glencore\u2019s refuelling stations \u2013 located on its mines \u2013 will not be part of the sale.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Initial bids for Glencore\u2019s Hunter Valley rolling stock and haulage assets are rolling in. Three major logistics companies \u2013 Aurizon, Pacific National, and Genesee Wyoming \u2013 are understood to have begun placing bids for the assets earlier this week, according to the AFR. While a price is yet to be fixed for the sale, it … Continue reading “Bids begin for Glencore coal rail assets”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6],"tags":[],"class_list":["post-1646","post","type-post","status-publish","format-standard","hentry","category-mines-and-quarry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p83F9T-qy","jetpack-related-posts":[{"id":1027,"url":"https:\/\/yinghuiinternational.com\/index.php\/2015\/10\/15\/mining-the-value-of-assets\/","url_meta":{"origin":1646,"position":0},"title":"Mining the value of assets","author":"yinghui","date":"October 15, 2015","format":false,"excerpt":"During the last couple of years mining services companies have had to rapidly adjust their strategies, shifting from a focus on growth to one of cost-control and cost-efficiency. 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