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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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Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
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- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- The University of Queensland
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
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