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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, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
Thursday, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
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- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
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- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
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- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
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