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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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Thursday, 01 August 13
CAPESIZE: THE FLOW OF CARGOES REMAINS RELATIVELY STABLE, AND THE PACIFIC IS LOOKING PROMISING - FEARNLEYS AS
Handy
The Pacific market is still facing low activity, so no wonder that the tonnage list is getting longer. It´s still Ramadan and only a fe ...
Wednesday, 31 July 13
COAL GASIFICATION
IBC’s Coal Gasification conference explores the opportunities for coal gasification investment and development in Asia.
With depleting dome ...
Wednesday, 31 July 13
SUPRAMAX : THE PACIFIC BASIN WAS MOVING ON A POSITIVE PATH - EVA TZIMA
COALspot.com: Cape - Despite holding their ground fairly well early on in the week, Capes in the Atlantic basin gave in to the mounting pressure fro ...
Tuesday, 30 July 13
HARD COAL ON THE WAY TO BECOMING THE WORLD'S MOST IMPORTANT ENERGY SOURCE - VDKI
Press Release : Hard coal continued to be the world’s fastest-growing fossil primary energy source in 2012. It covered about 28% of the world ...
Tuesday, 30 July 13
WIJAYA TRI UTAMA PURCHASES MICROCOAL TECHNOLOGIES' CLEAN COAL UPGRADING FACILITY
- First MCI commercial scale application of proprietary microwave technology to upgrade coal thermal output and reduce pollutants
- MicroCoal to re ...
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- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- VISA Power Limited - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
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