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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$15 billion diversified O.P. Jindal Group. In the recent past, JSPL has expanded its steel, power and mining businesses to various parts of the world particularly in Asia, Africa and South America.
The company produces economical and efficient steel and power. From the widest flat products to a whole range of long products, JSPL sports a product portfolio that caters to major infrastructure & housing projects in the country. It also has the distinction of producing the world's longest rails and large size parallel flange beams.
The organisation is equally concerned about the environment and is committed towards restoring nature's balance by maintaining a clean and green environment. JSPL's Corporate Social Responsibility policy aims at bringing about a radical transformation in the quality of people in and around the operation areas of the company through positive intervention in social upliftment programmes.
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Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
Wednesday, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
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- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- PTC India Limited - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Independent Power Producers Association of India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- The University of Queensland
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
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