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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$15 billion diversified O.P. Jindal Group. In the recent past, JSPL has expanded its steel, power and mining businesses to various parts of the world particularly in Asia, Africa and South America.
The company produces economical and efficient steel and power. From the widest flat products to a whole range of long products, JSPL sports a product portfolio that caters to major infrastructure & housing projects in the country. It also has the distinction of producing the world's longest rails and large size parallel flange beams.
The organisation is equally concerned about the environment and is committed towards restoring nature's balance by maintaining a clean and green environment. JSPL's Corporate Social Responsibility policy aims at bringing about a radical transformation in the quality of people in and around the operation areas of the company through positive intervention in social upliftment programmes.
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Friday, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
Wednesday, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Minerals Council of Australia
- New Zealand Coal & Carbon
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