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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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Monday, 12 November 12
THE ESTABLISHMENT OF NORTH KALIMANTAN AS A NEW PROVINCE WILL NOT AFFECT THE LOCAL MINING COMPANIES
The government of Indonesia has ensured that the establishment of North Kalimantan as a new province will not affect the local mining companies ...
Monday, 12 November 12
DRILLING COMPLETED AT THE MOORLANDS DEPOSIT, WEST BOWEN PROJECT
Press Release - Cuesta Coal Limited (ASX: CQC) (“Cuesta”) is pleased to announce it has completed its exploration activities at the Moor ...
Monday, 12 November 12
BARGE-LOAD OF 5K TONNES OF COAL FROM THE ADK JOINT VENTURE SHIPPED LAST WEEK
COALspot.com - Orpheus Energy (ASX:OEG) has announced that, it has successfully shipped a 5,000 tonne of ADK thermal coal to an Indonesian trading g ...
Sunday, 11 November 12
AN OPTIMISTIC WEEK FOR INDONESIAN SUB-BIT COAL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 2.08 percent WoW and 1.28 percent DoD on Friday, 9 November ...
Sunday, 11 November 12
THE IRON ORE AND COAL PRICES MOVEMENTS REMAINS LOW - VISTAAR
COALspot.com The market remained soft with all the sectors soft.
The BDI and was down by 4.67 pct closing at 940 points, on Friday 9 Novemb ...
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- Leighton Contractors Pty Ltd - Australia
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- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
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- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
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- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
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- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
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- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Tamil Nadu electricity Board
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- Coalindo Energy - Indonesia
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- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
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- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
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- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
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- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
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- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
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- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
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- Baramulti Group, Indonesia
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- Therma Luzon, Inc, Philippines
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- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
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