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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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Tuesday, 14 August 12
UNCERTAIN FUTURE FOR DRY BULK PANAMAX SHIPS - DREWRY / HELLENIC SHIPPING
The dry bulk shipping market is in a poor state, with the Capesize segment the worst of all. Unfortunately, the latest analysis from Drewry Maritime ...
Monday, 13 August 12
5TH VIETNAM PORTS AND LOGISTICS 2012
Press Release - Co-hosted by VINAMARINE, the 5th Vietnam Ports and Logistics2012 will feature dedicated sessions on port and transport infrastructur ...
Monday, 13 August 12
ACTIVE DRY BULK FLEET INCREASES BY 8% SO FAR IN 2012 IN TERMS OF TONNAGE CAPACITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s no wonder that the dry bulk market has been tethering since the start of the year. the overflow of tonnage has been so enormous, that eve ...
Sunday, 12 August 12
COAL FREIGHT RATES FALL FLAT TO SOFT ON OVERSUPPLY, WEAK DEMAND - VISTAAR SINGAPROE
COALspot.com - The BDI continued its fall 10th August.
This week all segments were down including BDI down by 9.15 pct closing at 774 points .The ...
Saturday, 11 August 12
INDONESIAN COAL REFERENCE PRICE HAS LOST 27.78 PERCENT YOY
COALspot.com - Indonesian HBA fell again in August.
The monthly coal reference price for coal sales this month fell 3.32 percent. HBA fell ...
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- IEA Clean Coal Centre - UK
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- Indonesian Coal Mining Association
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- Petron Corporation, Philippines
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- Thiess Contractors Indonesia
- The University of Queensland
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- White Energy Company Limited
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- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
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- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
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- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
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- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
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- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
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- Minerals Council of Australia
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- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
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- TeaM Sual Corporation - Philippines
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- Orica Mining Services - Indonesia
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- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
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- Metalloyd Limited - United Kingdom
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- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
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- Timah Investasi Mineral - Indoneisa
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- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
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- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
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- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
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- GVK Power & Infra Limited - India
- Parliament of New Zealand
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- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
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- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
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- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
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