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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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Tuesday, 11 June 13
COAL: NO SIGN OF RECOVERY - GABRIELLA
COALspot.com: We attended the 19th Annual Coaltrans Asia Conference, where we found most of the speakers were not very optimistic on the outlook for ...
Tuesday, 11 June 13
NEWCASTLE PORT SHIPPED MORE COAL WEEK ENDED 11 JUNE 2013
COALspot.com - Newcastle port in Australia has loaded 3,104,509 tons of coal for the week ended 0700 hours 11 June 2013, Newcastle Port Corp. ...
Tuesday, 11 June 13
OUTLOOK FOR CAPESIZES LOOKS GRIM, DESPITE FALLING IRON ORE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Things aren't looking all that rosy for the dry bulk market, despite a stronger volume of iron ore imports during the months of March and April, as ...
Sunday, 09 June 13
CFR SOUTH CHINA COAL SWAP IS UNDER PRESSURE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 0.03 percent week on week but gained 0.07 pe ...
Sunday, 09 June 13
IRON ORE DEMAND: WEAK; COAL MOVEMENT: STEADY TO INDIA AND CHINA - CAPT. REDDY
COALspot.com - The freight market was fairly steady with BDI up by 0.37 per cent closed at 812 points this week.
The Cape index was also ended in ...
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- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- White Energy Company Limited
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
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