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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, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
Monday, 06 August 12
3RD ANNUAL INDONESIA POWER
Press Release - 3rd Annual Indonesia Power is Indonesia’s premier power event, where commercial opportunities and new projects are identified. ...
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- TNB Fuel Sdn Bhd - Malaysia
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- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
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- Global Coal Blending Company Limited - Australia
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- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Economic Council, Georgia
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- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
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- Kohat Cement Company Ltd. - Pakistan
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- Edison Trading Spa - Italy
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- Global Green Power PLC Corporation, Philippines
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- VISA Power Limited - India
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- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
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- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
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- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
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- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
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- Indian Energy Exchange, India
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- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
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- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
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- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
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