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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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Wednesday, 07 August 13
HANDIES : FINDING IT DIFFICULT TO SUSTAIN THEIR PREVIOUS LEVELS - KONSTANTINOS KONTOMICHIS
Broker's insight
by Konstantinos Kontomichis,
SnP Broker
Entering the most predictable month of the year, as expected the seasonal effects ha ...
Tuesday, 06 August 13
UNLEASHING SHALE GAS POTENTIAL AS A GLOBAL ENERGY GAME CHANGER
In its 4th year running, the Annual Shale Gas Conference will bring leaders from North American shale gas operators, key Asian regulators, multi ...
Tuesday, 06 August 13
GBCE APPOINTS BENJAMIN WILEY AS NEW MANAGING DIRECTOR
COALspot.com : GB Clean Energy Ltd. (GBCE) announced today that Mr. Benjamin Wiley has been appointed as Managing Director.
Mr. Wiley has ...
Tuesday, 06 August 13
AUSTRALIAN NEWCASTLE PORT'S COAL EXPORTS FALL 23.16 PERCENT ON WEEK TO 2.26 MMT
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 15.8 percent week on week to 2.26 million mt for ...
Monday, 05 August 13
PAPERLESS TRADING (ELECTRONIC BILLS OF LADING) - FREQUENTLY ASKED QUESTIONS ("FAQS") - UK P&I CLUB
A number of Members have contacted the Club with queries regarding the use of electronic bills of lading and any potential consequences for P&I ...
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- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- PTC India Limited - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- The University of Queensland
- ICICI Bank Limited - India
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