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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, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
Tuesday, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
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- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Australian Coal Association
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
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