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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, 21 March 13
HANDY : RBCT ROUNDS FIXED AT $ 9000 + 300K BB - FEARNRESEARCH
Handy
The Atlantic market remains firm with cargoes seen to support healthy rates as per last week. The USG-Feast was at USD 25k and Black Sea-Feas ...
Wednesday, 20 March 13
NTPC TO IMPORT SEVEN MILLION TONS COAL FOR FOUR MONTHS
COALspot.com : NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company has awarded&n ...
Tuesday, 19 March 13
CHINA GAS PRICE REFORMS AND APAC GAS PRICING - FITCH STREET VIEW
Fitch Ratings says pricing reform in the Chinese gas sector is unlikely to materially impact gas distributors' margins, and low gas prices in the U ...
Tuesday, 19 March 13
NEWCASTLE COAL EXPORTS FALL BY 4.27 PERCENT ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,365,561 MT of thermal and coking coal for week ended 0700 hours 18 March 2013, Newcast ...
Tuesday, 19 March 13
SHIP PRICES COULD BE CLOSING IN TO REACH THEIR BOTTOM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the latest developments in shipping asset prices has been the reluctance from shipyards to further reduce their price expectations to higher ...
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- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Minerals Council of Australia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Australian Coal Association
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
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