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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- The University of Queensland
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Economic Council, Georgia
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
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