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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
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