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Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
 Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire interests. The purchase price paid by Rio Tinto on completion was $1.7 billion, a press statement from company said
The acquisition price was $1.9 billion before contractual adjustments for cash payments made by RBM to BHP Billiton since the effective transaction date of 1 February 2012. This price includes $0.6 billion for BHP Billiton’s 37 per cent equity interest in RBM, $1.0 billion for a 50 per cent interest in outstanding RBM shareholder financing arrangements, and $0.3 billion for a royalty stream.
According to press statement released by company, the acquisition was triggered on 1 February 2012 by BHP Billiton exercising a put option agreed with Rio Tinto as part of RBM’s restructuring in 2009. The price was determined through a previously agreed expert valuation process.
Rio Tinto Diamonds & Minerals Chief executive Alan Davies said “Doubling our stake in this tier one asset further strengthens Rio Tinto’s titanium dioxide portfolio at a time when the long-term outlook remains robust. Demand for feedstocks is expected to grow strongly, needing the equivalent of a new operation the size of RBM to be built every two and a half years.”
RBM is a South African mineral sands mining and processing operation located in Kwa-Zulu Natal. It is one of the world’s lowest cost producers and has mineral resources to support 20 years of production. Rio Tinto manages the RBM business and markets all of its products.
In 2011, RBM produced 14 per cent share of global titanium dioxide feedstock sales and 18 per cent share of global zircon sales. RBM’s revenues for 2011 were $1.2 billion, with 41 per cent generated from the sale of feedstocks. Rio Tinto continues to replace legacy titanium dioxide feedstock contracts, increasing exposure to more favourable market prices.
The remaining 26 per cent of RBM is owned by a consortium of local communities and businesses (24 per cent) and RBM employees (two per cent), in line with South Africa’s Broad-Based Black Economic Empowerment legislation.
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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Thursday, 22 December 22
RUSSIAN OIL EXPORTS CRATER BY 54% IN THE FIRST FULL WEEK OF THE EU'S EMBARGO AMID A SHORTAGE OF TANKERS WILLING TO CARRY CARGOES - BUSINESS INSIDER
Since the European Union imposed its seaborne crude sanctions, Russian oil exports have tumbled by more than half, according to data compiled by Bl ...
Thursday, 22 December 22
CHINA TIGHTENS VERIFICATION OF SHIPS’ ENERGY CONSUMPTION DATA - GARD
From 22 December 2022, ships trading to Chinese ports must record their energy consumption data in accordance with the requirements of their Ship E ...
Thursday, 22 December 22
AN OVERVIEW OF THE LNG MARKET - VESSELSVALUE
LNG values have continued to strengthen, spurred by skyrocketing earnings that have surpassed last year’s record breaking peaks. In November, ...
Thursday, 22 December 22
COKING COAL SLUMPS AS TALKS ON AUSTRALIA-CHINA TRADE RIFT LOOM - REUTERS
Chinese coking coal futures dropped more than 3 per cent on Tuesday (Dec 20), extending losses, as supply of the steelmaking input might increase i ...
Thursday, 22 December 22
COAL AND GAS PRICE CAPS MAY COMPOUND POLITICAL RISK FOR AUSTRALIAN CORPORATES - FITCH RATINGS
Australia’s introduction of temporary price caps on domestic sales of gas and coal used for electricity generation will probably have limited ...
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- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Australian Coal Association
- The Treasury - Australian Government
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- PTC India Limited - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Marubeni Corporation - India
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