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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
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