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Friday, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
 Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in global commercialisation of the HIsmelt technology to be used in a fully integrated steel making facility.
HIsmelt, short for high-intensity smelting, is the world's first commercial direct smelting process for making iron straight from the ore. The technology smelts iron ore fines directly using non-coking coals, and offers significant economic and environmental benefits to the steel industry.
The MoU will also involve the relocation of the existing Kwinana HIsmelt plant from Australia to India at JSPL's existing facility in Angul, Orissa. The relocated plant will be fully owned by JSPL, and JSPL and Rio Tinto will work together to further develop and market the technology.
The MOU was signed in New Delhi by Naveen Jindal, JSPL chairman and managing director Naveen Jindal and Rio Tinto Iron Ore and Australia chief executive Sam Walsh in the presence of Australia's High Commissioner to India Peter Varghese.
JSPL is part of the US$15 billion Indian-based Jindal Group, currently producing three million tonnes of steel annually and 1,800 megawatts of power.
Sam Walsh described the deal with JSPL as a natural progression for the HIsmelt technology. "This opportunity with JSPL is exciting, as we integrate the HIsmelt flow sheet into their existing steel works in Orissa, an acceleration of proving of the technology to full design capacity.
"We believe the HIsmelt process remains the future for iron making, particularly in locations where the need to reduce the environmental footprint is increasing, thereby ensuring the ongoing sustainability of this essential industry.
"HIsmelt is suitable to the resources of India and offers huge environmental benefits to a steelmaker like JSPL."
Naveen Jindal said "JSPL has had strong interest in the HIsmelt technology for several years and now looks forward to finalising the development of this most exciting technology and to share in the future benefits."
Rio Tinto is continuing its Kwinana site obligations, some of which apply to December 2012, in accordance with conditions set by the state regulators and Invest Australia.
About HIsmelt
The HIsmelt technology is fully owned by Rio Tinto. The Kwinana HIsmelt plant is owned by a Joint Venture comprising Rio Tinto (60 per cent), Nucor Corporation (25 per cent), Mitsubishi Corporation (10 per cent) and Shougang Corporation (5 per cent).
HIsmelt smelts iron ore fines directly using non-coking coals, and offers significant economic and environmental benefits to the steel industry. Local Indian iron ore fines and non-coking coals can be used with this technology.
About Rio Tinto
Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and NYSE 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, energy (coal and uranium), gold, industrial minerals (borax, titanium dioxide, salt) and iron ore. Activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and southern Africa.
About Jindal Steel & Power Limited (JSPL)
Jindal Steel and Power Limited (JSPL) is one of India's major steel producers with a significant presence in sectors like Steel, Mining, Power Generation and Infrastructure. With an annual turnover of over US$2.9 billion, JSPL is a part of the over US$15 billion diversified O.P. Jindal Group. In the recent past, JSPL has expanded its steel, power and mining businesses to various parts of the world particularly in Asia, Africa and South America.
The company produces economical and efficient steel and power. From the widest flat products to a whole range of long products, JSPL sports a product portfolio that caters to major infrastructure & housing projects in the country. It also has the distinction of producing the world's longest rails and large size parallel flange beams.
The organisation is equally concerned about the environment and is committed towards restoring nature's balance by maintaining a clean and green environment. JSPL's Corporate Social Responsibility policy aims at bringing about a radical transformation in the quality of people in and around the operation areas of the company through positive intervention in social upliftment programmes.
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Tuesday, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
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- Semirara Mining Corp, Philippines
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- Singapore Mercantile Exchange
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- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
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- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
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- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
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- Bhushan Steel Limited - India
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- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
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- Energy Link Ltd, New Zealand
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- Directorate General of MIneral and Coal - Indonesia
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- VISA Power Limited - India
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- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
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- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
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- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
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- Karbindo Abesyapradhi - Indoneisa
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- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
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- GMR Energy Limited - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Standard Chartered Bank - UAE
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- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
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- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
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- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
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- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
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- Gujarat Electricity Regulatory Commission - India
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- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
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