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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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- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Planning Commission, India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Australian Coal Association
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
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