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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
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