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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, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
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