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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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Wednesday, 29 August 12
SECOND HAND VESSELS IN HIGH DEMAND DESPITE SUMMER SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the slow summer season, ship owners appear to be rather keen in acquiring some modern second hand tonnage at "knock-down" prices. ...
Monday, 27 August 12
BUMI BOOKS $322.1 MILLION NET LOSS IN 1H 2012 IN SPITE OF 8.6 PERCENT INCREASE IN SALES REVENUE
PT Bumi Resources Tbk, the single largest coal producer and exporter in Indonesia announces its first half financial report for the ...
Monday, 27 August 12
OVER 200 FOREIGN COMPANIES AND ENERGY MAJORS EXPECTED AT 2ND MOGP SUMMIT IN YANGON
Singapore based CMT and Machinery & Solutions Co. Ltd (M&S) announce that the 2nd MOGP Summit will be held on 3-6 September at the Sedona ho ...
Sunday, 26 August 12
SOUTH AFRICAN COAL OVERVIEW
South Africa's indigenous energy resource base is dominated by coal.
Internationally, coal is the most widely used primary fuel, accounting for ...
Saturday, 25 August 12
FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week the indices showed some signs of improvement will all the segments moving up except for the handy size.
The BDI was marg ...
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- Indian Oil Corporation Limited
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- Economic Council, Georgia
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- AsiaOL BioFuels Corp., Philippines
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- Coal and Oil Company - UAE
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- Kumho Petrochemical, South Korea
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- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
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- The University of Queensland
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- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
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- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
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- CNBM International Corporation - China
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- Australian Coal Association
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
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- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
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- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
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- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Parliament of New Zealand
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- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
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- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
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- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Romanian Commodities Exchange
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- Karbindo Abesyapradhi - Indoneisa
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- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
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- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
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- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
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- White Energy Company Limited
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
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- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
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