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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, 12 October 12
INVESTMENT OPPORTUNITIES OCCUR IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although 2012 has by now evolved into one of the most challenging years for global shipping industry, ship owners are scouting the second hand ship ...
Thursday, 11 October 12
SINGAPORE BASED COAL SOURCE AND SHIPPING BAGS 300K MT IMPORTED COAL SUPPLY CONTRACT FROM TNPL
COALspot.com - India-based paper manufacturer Tamil Nadu Newsprint and Papers Limited has awarded a tender for 300,000 mt of imported steam co ...
Thursday, 11 October 12
PANAMAX : SINCE LAST WEEK RATES HAS FIRMED FOR ALL TRADES - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to East Med were around USD 14k and B ...
Thursday, 11 October 12
DRY BULK MARKET STEADY AFTER CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet staged a solid rebound after last week's holidays in China, as many would have expected. Indeed, many analysts were ...
Wednesday, 10 October 12
NEW BUILDING MARKET ON A QUIET WEEK, DUE TO ASIAN HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The newbuilding ordering activity has been more than quite during the course of the past week, as a result of holidays in both Korea and China. Acco ...
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- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
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