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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, 10 April 13
US COAL CONSUMPTION TO INCREASE FROM 889 MMST IN 2012 TO 948 MMST IN 2013 AND 957 MMST IN 2014 - EIA
Based on estimates for the first quarter of 2013, American coal production has continued to decline.
Total production is down 9.9 million short t ...
Wednesday, 10 April 13
DRY BULK FREIGHT RATES SEEN MOSTLY STABLE IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
In its latest report, BIMCO forecast that for the coming six weeks, Capesize time charter average rates will remain subdued around $4,500-8,500 per ...
Monday, 08 April 13
SUB-BIT INDONESIA COAL SWAPS: UPWARD TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.71 percent and CFR South China coal shipment&nbs ...
Sunday, 07 April 13
CHARTER RATES ARE UNDER PRESSURE DUE TO DECLINING DEMAND - VISTAAR
COALspot.com - The freight market continued to fall further with all the indices down.
The BDI was down by 5.38 pct closing at 861 points and the ...
Friday, 05 April 13
SGX API 8 CFR SOUTH CHINA COAL SWAPS TO GO LIVE
COALspot.com - The Exchange has announced that the SGX API 8 CFR South China Coal Swap will go live for clearing on SGX-DC starting from 29 Ap ...
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- Eastern Energy - Thailand
- Deloitte Consulting - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- The University of Queensland
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
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