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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$325 million in cash. This transaction is expected to close in the third quarter of 2013 and is subject to regulatory approval.
The Eagle project in the Upper Peninsula of Michigan in the United States includes a high-grade underground nickel-copper mine and mill. Construction commenced in June 2010 and is approximately 55 per cent complete.
Chris Lynch, chief financial officer of Rio Tinto said “The sale of Eagle demonstrates our renewed focus and discipline in the way we allocate capital. We are making good progress on a number of other potential divestments as part of our goal to achieve substantial proceeds from divesting non-core assets.
“We believe Eagle will have a sound future under its new ownership given Lundin’s commitment to the development of the project. Rio Tinto will continue to manage Eagle to the highest safety and environmental standards during the transition to the new owner.”
About Rio Tinto
Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and New York Stock Exchange listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange.
Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, thermal and metallurgical coal, uranium, gold, industrial minerals (borax, titanium dioxide and salt) and iron ore. Activities span the world and are strongly represented in Australia and North America with significant businesses in Asia, Europe, Africa and South America.
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Sunday, 18 August 13
SUB-BIT FOB INDONESIA COAL SWAP : ON POSITIVE DIRECTION ON DAY, WEEK AND MONTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery US$ 1.83 up month on month. The swap was moved positive ...
Sunday, 18 August 13
INDO - INDIA FREIGHT EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The freight market was up this week with the BDI gaining more than 10 pct due to strong Cape Sector.
The BDI was closed at 1,102 p ...
Friday, 16 August 13
US COAL PRODUCTION SLIGHTLY UP ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.10 million short tons (mmst) of ...
Thursday, 15 August 13
CAPESIZE : TRENDS SOMETIMES SHIFT WITH NO PRIOR WARNING - FEARNRESEARCH
Handy
The influence of the summer holidays across Europe was felt in the Atlantic basin this week. Very little activity and a growing list of avail ...
Wednesday, 14 August 13
ANOTHER WEEK IN THE RED FOR DRY BULK CARRIERS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable- )
Another week in the red for Dry Bulk carriers with the market losing further steam as fewer an ...
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- Madhucon Powers Ltd - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
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