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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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- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- White Energy Company Limited
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Australian Coal Association
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
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