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Thursday, 13 June 13
RIO TINTO AGREES SALE OF EAGLE PROJECT FOR AN ESTIMATED US$325 MILLION IN CASH
COALspot.com - Rio Tinto has reached a binding agreement to sell its Eagle project to Lundin Mining Corporation for an estimated US$325 million in cash. This transaction is expected to close in the third quarter of 2013 and is subject to regulatory approval.
The Eagle project in the Upper Peninsula of Michigan in the United States includes a high-grade underground nickel-copper mine and mill. Construction commenced in June 2010 and is approximately 55 per cent complete.
Chris Lynch, chief financial officer of Rio Tinto said “The sale of Eagle demonstrates our renewed focus and discipline in the way we allocate capital. We are making good progress on a number of other potential divestments as part of our goal to achieve substantial proceeds from divesting non-core assets.
“We believe Eagle will have a sound future under its new ownership given Lundin’s commitment to the development of the project. Rio Tinto will continue to manage Eagle to the highest safety and environmental standards during the transition to the new owner.”
About Rio Tinto
Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and New York Stock Exchange listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange.
Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, thermal and metallurgical coal, uranium, gold, industrial minerals (borax, titanium dioxide and salt) and iron ore. Activities span the world and are strongly represented in Australia and North America with significant businesses in Asia, Europe, Africa and South America.
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Minerals Council of Australia
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
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