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Friday, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
 Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in global commercialisation of the HIsmelt technology to be used in a fully integrated steel making facility.
HIsmelt, short for high-intensity smelting, is the world's first commercial direct smelting process for making iron straight from the ore. The technology smelts iron ore fines directly using non-coking coals, and offers significant economic and environmental benefits to the steel industry.
The MoU will also involve the relocation of the existing Kwinana HIsmelt plant from Australia to India at JSPL's existing facility in Angul, Orissa. The relocated plant will be fully owned by JSPL, and JSPL and Rio Tinto will work together to further develop and market the technology.
The MOU was signed in New Delhi by Naveen Jindal, JSPL chairman and managing director Naveen Jindal and Rio Tinto Iron Ore and Australia chief executive Sam Walsh in the presence of Australia's High Commissioner to India Peter Varghese.
JSPL is part of the US$15 billion Indian-based Jindal Group, currently producing three million tonnes of steel annually and 1,800 megawatts of power.
Sam Walsh described the deal with JSPL as a natural progression for the HIsmelt technology. "This opportunity with JSPL is exciting, as we integrate the HIsmelt flow sheet into their existing steel works in Orissa, an acceleration of proving of the technology to full design capacity.
"We believe the HIsmelt process remains the future for iron making, particularly in locations where the need to reduce the environmental footprint is increasing, thereby ensuring the ongoing sustainability of this essential industry.
"HIsmelt is suitable to the resources of India and offers huge environmental benefits to a steelmaker like JSPL."
Naveen Jindal said "JSPL has had strong interest in the HIsmelt technology for several years and now looks forward to finalising the development of this most exciting technology and to share in the future benefits."
Rio Tinto is continuing its Kwinana site obligations, some of which apply to December 2012, in accordance with conditions set by the state regulators and Invest Australia.
About HIsmelt
The HIsmelt technology is fully owned by Rio Tinto. The Kwinana HIsmelt plant is owned by a Joint Venture comprising Rio Tinto (60 per cent), Nucor Corporation (25 per cent), Mitsubishi Corporation (10 per cent) and Shougang Corporation (5 per cent).
HIsmelt smelts iron ore fines directly using non-coking coals, and offers significant economic and environmental benefits to the steel industry. Local Indian iron ore fines and non-coking coals can be used with this technology.
About Rio Tinto
Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and NYSE 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, energy (coal and uranium), gold, industrial minerals (borax, titanium dioxide, salt) and iron ore. Activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and southern Africa.
About Jindal Steel & Power Limited (JSPL)
Jindal Steel and Power Limited (JSPL) is one of India's major steel producers with a significant presence in sectors like Steel, Mining, Power Generation and Infrastructure. With an annual turnover of over US$2.9 billion, JSPL is a part of the over US$15 billion diversified O.P. Jindal Group. In the recent past, JSPL has expanded its steel, power and mining businesses to various parts of the world particularly in Asia, Africa and South America.
The company produces economical and efficient steel and power. From the widest flat products to a whole range of long products, JSPL sports a product portfolio that caters to major infrastructure & housing projects in the country. It also has the distinction of producing the world's longest rails and large size parallel flange beams.
The organisation is equally concerned about the environment and is committed towards restoring nature's balance by maintaining a clean and green environment. JSPL's Corporate Social Responsibility policy aims at bringing about a radical transformation in the quality of people in and around the operation areas of the company through positive intervention in social upliftment programmes.
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Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
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- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
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