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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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Wednesday, 29 May 13
SHIP OWNERS KEEP ON SPENDING ON NEWBUILDINGS AS PRICES ARE DEEMED TOO LOW TO RESIST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It's been yet another week on increased newbuilding ordering activity with Hellenic ship owners appearing rathe active, on the back of attractive f ...
Tuesday, 28 May 13
NEWCASTLE PORT SHIPPED 9.76 PERCENT MORE COAL W/E 27 MAY 2013
COALspot.com - Newcastle port in Australia has loaded 2,420,366 tons of coal for week ended 0700 hours 27 May 2013, Newcastle Port Corp. said ...
Sunday, 26 May 13
AMPLE SUPPLY, LOW DEMAND KEEP COAL PRICES UNDER PRESSURE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 0.07 percent and API 8 CFR South China Coal shipment los ...
Friday, 24 May 13
ENGAGEMENT WITH POTENTIAL STRATEGIC AND OFF TAKE PARTNERS ACCELERATING - REALM RESOURCES
COALspot.com - Following the recent completion of the Feasibility Study, the Realm Resources Ltd. (ASX: RRP) has focused on securing strategic ...
Friday, 24 May 13
US'S COAL PRODUCTION INCREASED WEEK ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.90 million short tons (mmst) of ...
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- Bukit Asam (Persero) Tbk - Indonesia
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- Central Electricity Authority - India
- Star Paper Mills Limited - India
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- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
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- Savvy Resources Ltd - HongKong
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- Eastern Energy - Thailand
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- Videocon Industries ltd - India
- Romanian Commodities Exchange
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- Minerals Council of Australia
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- New Zealand Coal & Carbon
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- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
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- Indonesian Coal Mining Association
- Planning Commission, India
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- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
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- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
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- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
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- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
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- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
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- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
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- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- The University of Queensland
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
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