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