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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, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
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- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
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- Central Electricity Authority - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
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- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
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- Coalindo Energy - Indonesia
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- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Deloitte Consulting - India
- The University of Queensland
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
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