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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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Thursday, 01 August 13
CAPESIZE: THE FLOW OF CARGOES REMAINS RELATIVELY STABLE, AND THE PACIFIC IS LOOKING PROMISING - FEARNLEYS AS
Handy
The Pacific market is still facing low activity, so no wonder that the tonnage list is getting longer. It´s still Ramadan and only a fe ...
Wednesday, 31 July 13
COAL GASIFICATION
IBC’s Coal Gasification conference explores the opportunities for coal gasification investment and development in Asia.
With depleting dome ...
Wednesday, 31 July 13
SUPRAMAX : THE PACIFIC BASIN WAS MOVING ON A POSITIVE PATH - EVA TZIMA
COALspot.com: Cape - Despite holding their ground fairly well early on in the week, Capes in the Atlantic basin gave in to the mounting pressure fro ...
Tuesday, 30 July 13
HARD COAL ON THE WAY TO BECOMING THE WORLD'S MOST IMPORTANT ENERGY SOURCE - VDKI
Press Release : Hard coal continued to be the world’s fastest-growing fossil primary energy source in 2012. It covered about 28% of the world ...
Tuesday, 30 July 13
WIJAYA TRI UTAMA PURCHASES MICROCOAL TECHNOLOGIES' CLEAN COAL UPGRADING FACILITY
- First MCI commercial scale application of proprietary microwave technology to upgrade coal thermal output and reduce pollutants
- MicroCoal to re ...
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- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Planning Commission, India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
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