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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, 26 October 12
DRY BULK MARKET FALLS ON WORRIES THAT RECENT RALLY WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market retreated yesterday as a result of a plunge of the Capesize dry bulk carriers' segment, after their latest rally. As a result, ...
Tuesday, 23 October 12
INDONESIA SETS DMO FOR NEXT YEAR
COALspot.com - The Indonesian government has declared the quantity of coal to be supplied to domestic market in 2013 recently under DMO regulation. ...
Sunday, 21 October 12
BUMA HAS PRODUCED 25.0 MILLION TONS OF COAL YEAR TO DATE
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 33.2 million bcm* (+5.5% YoY) of Overburden in September 2012 totaled while coal produc ...
Saturday, 20 October 12
SUPRAMAX FREIGHT EXPECTED TO BE FLAT - VISTAAR
COALspot.com - The shipping market continued to be quite active with quite lot of cargoes fixed for in the cape and panamax sector.
The BDI was ...
Thursday, 18 October 12
INDO-INDIA, LARGE ECO SUPRA FIXED AT USD 11000 - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Cont to East Med were around USD 14k and Black Sea ...
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- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- The University of Queensland
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- PTC India Limited - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- VISA Power Limited - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
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