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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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Sunday, 17 March 13
A WEAK WEEK FOR SUB-BIT INDONESIA COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 2.11 percent and CFR South China coal shipment ...
Sunday, 17 March 13
COAL FREIGHT RATES STEADY ON HIGHER DEMAND - CAPT. REDDY
COALspot.com - This freight market continued to remain firm in all segments.
The BDI was up by 5.81 pct closing at 892 points. Cape index was up ...
Friday, 15 March 13
CHEAP SHIP VALUATIONS DON'T NECESSARILY MEAN ATTRACTIVE SAYS VESSELS VALUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship prices plunging by double-digits in the past few years, many ship owners are pondering their next moves in a market often described as att ...
Thursday, 14 March 13
SUPRAMAX : INDO - INDIA TRIP RATE IS AROUND $10,000; SOUTH CHINA $9500 - FEARNRESEARCH
Handy
Indian market is still quiet in respect of export of iron ore. WC India market has improved with a few stems out of the MEG, WC India opening ...
Thursday, 14 March 13
DRY BULK MARKET KEEPS ON RISING MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has maintained its rising momentum, on the back of increased cargo availability. According to yesterday's figures, the industry ...
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- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Siam City Cement - Thailand
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Thai Mozambique Logistica
- MS Steel International - UAE
- Planning Commission, India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
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