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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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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Posco Energy - South Korea
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Planning Commission, India
- The University of Queensland
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