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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$15 billion diversified O.P. Jindal Group. In the recent past, JSPL has expanded its steel, power and mining businesses to various parts of the world particularly in Asia, Africa and South America.
The company produces economical and efficient steel and power. From the widest flat products to a whole range of long products, JSPL sports a product portfolio that caters to major infrastructure & housing projects in the country. It also has the distinction of producing the world's longest rails and large size parallel flange beams.
The organisation is equally concerned about the environment and is committed towards restoring nature's balance by maintaining a clean and green environment. JSPL's Corporate Social Responsibility policy aims at bringing about a radical transformation in the quality of people in and around the operation areas of the company through positive intervention in social upliftment programmes.
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Friday, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
Wednesday, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power ...
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- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Parliament of New Zealand
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
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