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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, 18 July 13
DRY BULK MARKETS RETAINS RECENT GAINS, MOVES SIDEWAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on moving sideways this week, as evidenced by the latest trends of the industry's benchmark, the Baltic Dry Index (BDI ...
Wednesday, 17 July 13
NEWCASTLE COAL EXPORTS FELL 3.85% ON WEEK
COALspot.com: Newcastle port in Australia has loaded 2,860,149 tons of coal for the week ended 0700 hours 15 July 2013, Newcastle Port Corp. s ...
Wednesday, 17 July 13
TORN BETWEEN A CREDIT CRUNCH AND SUSTAINABLE GROWTH - GEORGE DERMATIS
COALspot.com: In 2012 China expanded at a rate of 7.8%, its worst annual performance in 13 years, raising criticism over the newly appointed governm ...
Tuesday, 16 July 13
TAKE - OR - PAY CONTRACTS CONTINUE TO INCENTIVISE AUSTRALIAN COAL PRODUCERS DESPITE POTENTIAL NEGATIVE CASH MARGINS - WOOD MACKENZIE
Australia's coal production has continued to grow, despite lower coal prices in 2013. Global investors and suppliers are therefore questioning whet ...
Monday, 15 July 13
INDONESIAN GOVERNMENT HAS REVISED DOWN ITS JULY BENCH-MARK COAL PRICE TO US$ 81.69 PER MT
COALspot. com - Indonesian Coal Price Reference dropped 3.75 % and hitting a 2013 low. The Indonesian government has revised down its owned coal ben ...
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- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Planning Commission, India
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- White Energy Company Limited
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
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