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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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Sunday, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
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- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Australian Coal Association
- Petron Corporation, Philippines
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
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