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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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Friday, 16 November 12
SHIP OWNERS KEEP ON INVESTING IN SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Priced attractively, modern and with prompt delivery dates, second hand vessels are proving to be rather popular among cash-rich ship owners these d ...
Friday, 16 November 12
HANDY : IRON ORE WAS QUIET AND RATES FROM INDIA TO CHINA AROUND USD 5500
Handy
The Atlantic was weak with more supply of ships. Rates from Continent/ Feast at USD 9000 and from USG/China at USD 15k. The Pacific market re ...
Wednesday, 14 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 11.14 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,100,686 MT of thermal and coking coal for week ended – 0700 hours 12 November 2012, Ne ...
Tuesday, 13 November 12
INITIAL COAL PRODUCTION AT KATINGAN RIA ON TRACK FOR 2013 FOLLOWING GRANTING OF 'IN PRINCIPLE' FORESTRY PERMIT, INDONESIA
Realm Resources Ltd (“Realm” or the “Company” - ASX: RRP) has announced that its application to upgrade its exploration fore ...
Tuesday, 13 November 12
BULK PORTS & TECHNOLOGY ASIA 2013
Press Release - TOC Events are pleased to announce a new addition to our global portfolio with the launch of the inaugural Bulk Ports & Technolo ...
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- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
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