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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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- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Economic Council, Georgia
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Australian Coal Association
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
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