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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, 18 July 13
DRY BULK MARKETS RETAINS RECENT GAINS, MOVES SIDEWAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on moving sideways this week, as evidenced by the latest trends of the industry's benchmark, the Baltic Dry Index (BDI ...
Wednesday, 17 July 13
NEWCASTLE COAL EXPORTS FELL 3.85% ON WEEK
COALspot.com: Newcastle port in Australia has loaded 2,860,149 tons of coal for the week ended 0700 hours 15 July 2013, Newcastle Port Corp. s ...
Wednesday, 17 July 13
TORN BETWEEN A CREDIT CRUNCH AND SUSTAINABLE GROWTH - GEORGE DERMATIS
COALspot.com: In 2012 China expanded at a rate of 7.8%, its worst annual performance in 13 years, raising criticism over the newly appointed governm ...
Tuesday, 16 July 13
TAKE - OR - PAY CONTRACTS CONTINUE TO INCENTIVISE AUSTRALIAN COAL PRODUCERS DESPITE POTENTIAL NEGATIVE CASH MARGINS - WOOD MACKENZIE
Australia's coal production has continued to grow, despite lower coal prices in 2013. Global investors and suppliers are therefore questioning whet ...
Monday, 15 July 13
INDONESIAN GOVERNMENT HAS REVISED DOWN ITS JULY BENCH-MARK COAL PRICE TO US$ 81.69 PER MT
COALspot. com - Indonesian Coal Price Reference dropped 3.75 % and hitting a 2013 low. The Indonesian government has revised down its owned coal ben ...
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- Mercator Lines Limited - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Planning Commission, India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- MS Steel International - UAE
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
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