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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, 18 October 13
WOOD MACKENZIE FORECASTS CHINA WILL OUTWEIGH THE REST OF THE WORLD FOR BASE METALS DEMAND BY 2017
China set to account for 52% of 117mt base metals market by 2017
China is on track to exceed rest of the World demand by 2017, becoming the singl ...
Friday, 18 October 13
DRY BULK MARKET ON "PAUSE" MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on "pause" mode over the past week, after China's return from the week long holidays. The industry's benchm ...
Friday, 18 October 13
US PRODUCED 6.7% MORE COAL W-W
COALspot.com – United States the world’s second largest coal producer produced approximately 18.9 million short tons (mmst) of coal in a ...
Thursday, 17 October 13
CAPESIZE: RATES ARE AGAIN MOVING UPWARDS - FEARNRESEARCH
Handy
Activities were obviously slowed down in the Pacific basin. There were only few coal movements which fixed around USD 15-16k for ships in Sin ...
Thursday, 17 October 13
SGX TO LAUNCH "SGX THERMAL COAL FUTURES" NEXT MONDAY
COALspot.com: SGX is to launch two thermal coal futures contracts, SGX API 8 CFR China Coal Index Futures and SGX IHS McCloskey Indonesian Sub-bit F ...
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- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
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