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Thursday, 13 June 13
RIO TINTO AGREES SALE OF EAGLE PROJECT FOR AN ESTIMATED US$325 MILLION IN CASH
COALspot.com - Rio Tinto has reached a binding agreement to sell its Eagle project to Lundin Mining Corporation for an estimated US$325 million in cash. This transaction is expected to close in the third quarter of 2013 and is subject to regulatory approval.
The Eagle project in the Upper Peninsula of Michigan in the United States includes a high-grade underground nickel-copper mine and mill. Construction commenced in June 2010 and is approximately 55 per cent complete.
Chris Lynch, chief financial officer of Rio Tinto said “The sale of Eagle demonstrates our renewed focus and discipline in the way we allocate capital. We are making good progress on a number of other potential divestments as part of our goal to achieve substantial proceeds from divesting non-core assets.
“We believe Eagle will have a sound future under its new ownership given Lundin’s commitment to the development of the project. Rio Tinto will continue to manage Eagle to the highest safety and environmental standards during the transition to the new owner.”
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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Saturday, 10 August 13
MOODY'S: OUTLOOK FOR US COAL INDUSTRY CHANGES TO STABLE FROM NEGATIVE
Moody's Investors Service has changed its outlook for the US coal industry to stable from negative, the rating agency says in a new report, "U ...
Saturday, 10 August 13
DEMOLITION ACTIVITY TO BE CRUCIAL AGAIN IN PROVIDING SUPPORT TO THE DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We appear to have forgotten demolition activity this year, with the Baltic Dry Index gaining traction in the latter part of the second half and emer ...
Friday, 09 August 13
US PRODUCED 4.00 PERCENT LESS COAL ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.00 million short tons (mmst) of ...
Thursday, 08 August 13
HANDY : NO POSITIVE SENTIMENT FOR THE FAR EAST MARKET - FEARNRESEARCH
Handy
No positive sentiment for the Far East market. There are a number of ships coming open in SE Asia this week and owners rating mid/high USD 8k ...
Thursday, 08 August 13
MALAYSIA HOSTS THIRD ANNUAL ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release : The third Annual Asian Sub-Bituminous Coal Users’ Group (ASBCUG) conference convenes Sept. 30-Oct. 3 at the Eastern & Orie ...
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- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
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