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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Parliament of New Zealand
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- The University of Queensland
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
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