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