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Thursday, 13 June 13
RIO TINTO AGREES SALE OF EAGLE PROJECT FOR AN ESTIMATED US$325 MILLION IN CASH
COALspot.com - Rio Tinto has reached a binding agreement to sell its Eagle project to Lundin Mining Corporation for an estimated US$325 million in cash. This transaction is expected to close in the third quarter of 2013 and is subject to regulatory approval.
The Eagle project in the Upper Peninsula of Michigan in the United States includes a high-grade underground nickel-copper mine and mill. Construction commenced in June 2010 and is approximately 55 per cent complete.
Chris Lynch, chief financial officer of Rio Tinto said “The sale of Eagle demonstrates our renewed focus and discipline in the way we allocate capital. We are making good progress on a number of other potential divestments as part of our goal to achieve substantial proceeds from divesting non-core assets.
“We believe Eagle will have a sound future under its new ownership given Lundin’s commitment to the development of the project. Rio Tinto will continue to manage Eagle to the highest safety and environmental standards during the transition to the new owner.”
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, 25 October 13
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED TOTALLED 803.1 MMST
COALspot.com – United States the world’s second largest coal producer produced approximately 19.10 million short tons (mmst) of coal in ...
Thursday, 24 October 13
PANAMAX: RATES SLIP ACROSS BOTH HEMISPHERES
Handy
We were back from holidays but still not much enquiries in the market. Overall future direction is uncertain. Currently, ships passing Singap ...
Thursday, 24 October 13
SHIP PRICES ARE INCREASING ON THE BACK OF IMPROVED MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating from its recent highs, ending yesterday at 1,786 points, down 61 points on the day, with Capesizes leadin ...
Wednesday, 23 October 13
DRY BULK MARKET HAS SHOWN SIGNS OF STABILITY - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable-)
The Dry Bulk market has shown signs of stability this past week, with the sole exception of Capes, rates f ...
Wednesday, 23 October 13
MARKET SENTIMENT IN THE DRY BULK SECTOR REMAINS POSITIVE - YANNIS OLZIERSKY
Market sentiment in the dry bulk sector remains positive despite the latest correction in freight rates for the Capesize sector, which are sliding f ...
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- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- The University of Queensland
- White Energy Company Limited
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
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