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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, 01 November 12
SOUTH KOREAN POWER UTILITY EWP TO PURCHASE 670,000 MT OF COAL FOR JAN - FEB 2013 DELIVERY
COALspot.com: Korea East-West Power Co. Ltd. on behalf of Korea South-East Power Co. Ltd., Korea Southern Power Co. Ltd., Korea Midland Power Co. Lt ...
Thursday, 01 November 12
KOMIPO LOOKING FOR 440,000 MT OF 4600 KCAL/KG NAR COAL FOR BORYEONG POWER PLANT
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids from coal producers, marketing companies or traders to supply of 440,000 Metric ...
Thursday, 01 November 12
CAPESIZE RATES FALL, DRY BULK MARKET RETREATS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It was another lackluster session yesterday in the dry bulk markets, with the industry's benchmark, the BDI (Baltic Dry Index) retreating by 1.63 p ...
Thursday, 01 November 12
HANDY : WCI-CHINA RATES ARE AT AROUND USD 5,000 AND ECI-CHINA AROUND USD 4000 - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to a lack of cargoes and an increased supply of ships. Rates from the Continent to east Med were around ...
Tuesday, 30 October 12
COAL PRODUCTION TO RISE BY FIVE PERCENT IN 2013 - TEMPO INTERACTIVE
TEMPO Interactive reported that, Indonesian Coal Mining Association (APBI) chairman Bob Kamandanu has estimated that Indonesian coal production will ...
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- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- White Energy Company Limited
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Planning Commission, India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
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