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Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
 COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the end of 2013. Guy Elliott remains on the Boards of Rio Tinto plc and Rio Tinto Ltd until then and has been appointed senior executive director on the Boards. He will continue in his role as CFO until a successor is appointed.
Rio Tinto chairman Jan du Plessis said “Guy has enjoyed an outstanding career during his 32 years at Rio Tinto, which includes ten years on the Board. I would like to thank him on behalf of the Board for his invaluable contribution, particularly in recent years as he helped steer the Group through the global financial crisis and back to a position of financial strength.”
Rio Tinto chief executive Tom Albanese said “Guy is a key member of my executive team and I am grateful for his skilful leadership of the Group’s finances and strategy during some challenging times. I would like to thank him personally for his wise counsel and support and for his commitment to stay with us for another 18 months to ensure a smooth transition."
Rio Tinto Energy's chief executive Doug Ritchie will also take on the new role of group executive Strategy, with responsibility for group strategy and business development. He will take up the London-based role on 1 January 2013. According to RioTinto, Doug Ritchie has more than 25 years of experience in the aluminium, coal, diamonds, industrial minerals and exploration businesses in a number of senior operations and leadership roles. He has held senior roles in strategy and business development, including Strategy managing director before he became Energy chief executive in 2009.
In the meantime, Diamonds and Minerals chief executive Harry Kenyon-Slaney will assume the Brisbane-based role of Energy chief executive from 1 September 2012. Harry Kenyon-Slaney has been with Rio Tinto for 21 years and has previous experience in energy as managing director Energy Resources of Australia Ltd from 2004-2007. Harry has also held senior operational leadership and commercial roles in copper and industrial minerals, including managing director Rio Tinto Iron and Titanium.
Rio Tinto Iron Ore International Operations president Alan Davies will be the new Diamonds & Minerals chief executive from 1 September 2012, based in London, and will join the Executive Committee. Alan Davies will retain responsibility for the Simandou iron ore project. Dampier Salt Ltd will transfer to the Diamonds & Minerals product group from Iron Ore.
Alan Davies has been with Rio Tinto for 15 years and has comprehensive experience in operations, business development and finance in Energy and Iron Ore.
Tom Albanese, Rio Tinto's chief executive said “It’s important to develop people’s careers by giving them new challenges. I congratulate Doug, Harry and Alan on their new appointments.
“Adding a strategy role to the Executive Committee underlines the priority we place on this key area and on continuity of our strategic direction. Guy has done an excellent job leading the strategy team and there will be a seamless handover to Doug, whose thorough knowledge of the business and experience in this area will be invaluable to both the Board and my executive team.
“Doug has a very able successor in the Energy product group in Harry, who brings a range of business skills to the role, including direct experience running Energy Resources of Australia. I welcome Alan to the Executive Committee, and acknowledge the leading role he has played in developing partnerships with the Government of Guinea, Chalco and the International Finance Corporation, and leading the work to develop the Simandou project.
About Rio Tinto
Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and New York Stock Exchange 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, thermal and metallurgical coal, uranium, gold, industrial minerals (borax, titanium dioxide and salt) and iron ore. Activities span the world and are strongly represented in Australia and North America with significant businesses in Asia, Europe, Africa and South America.
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Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
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- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
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