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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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Monday, 06 August 12
COAL EXPORTS COULD ADD $2B TO $6B ANNUALLY TO U.S. ECONOMY - HELLENIC SHIPPING
Business groups backing Pacific Northwest coal export proposals on Thursday lauded a new report that claims increased U.S. coal exports could bring ...
Sunday, 05 August 12
SUB-BIT INDONESIA COAL SWAPS ARE WAY UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.36 percent on Friday (3 August 2012) closing W-o-W but gained& ...
Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between ...
Sunday, 05 August 12
DRY BULK FREIGHT MARKET TO STAY WEAK NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com - The freight market continued to soften further in all segments.
The BDI was down by 8.68 pct closing at 852 points. The cape index ...
Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
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- Altura Mining Limited, Indonesia
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- SMG Consultants - Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
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- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
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- Indian Energy Exchange, India
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- Banpu Public Company Limited - Thailand
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- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
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- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
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- Mercuria Energy - Indonesia
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- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
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- Semirara Mining Corp, Philippines
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- Mintek Dendrill Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
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- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
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- Uttam Galva Steels Limited - India
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- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
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- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
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- Globalindo Alam Lestari - Indonesia
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- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
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- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
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