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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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Sunday, 07 July 13
COAL PRICES REMAIN UNDER PRESSURE
COALspot.com – Coal swaps for the year 2014 indicate that, the pressure on coal prices will continue at least until next year. Ave ...
Friday, 05 July 13
THE DRY BULK MARKET IS GOING FROM STRENGTH TO STRENGTH - INTERMODAL
The Capesize sector has been one that has gone through a wild rollercoaster of emotions this past decade, ranging from the exuberance witnessed duri ...
Thursday, 04 July 13
CHALLENGER SIGNS FORMAL EXCLUSIVE MINING AND MARKETING AGREEMENT FOR ABBR PROJECT IN CENTRAL KALIMANTAN
COALspot.com - Challenger Deep Resources Corp., through its subsidiary PT Bestindo Energy has signed the formal exclusive Mining and Marketing agree ...
Thursday, 04 July 13
ASX LISTED QBL TO ACQUIRE INTERESTS IN MOZAMBIQUE COAL EXPLORATION LICENSES
- QBL to acquire interests in two Mozambique exploration licences prospective for coal
- Licenses located in the highly prospective Zambezi basin, ...
Thursday, 04 July 13
HANDY : INDO/CHINA, CHARTERERS RATING AROUND US$ 10,000 - FEARNLEYS AS
Handy
The Feast market firmed slightly up as mid-July cargos entered the market, but charterers seems not in hurry to cover them and looking for ch ...
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- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
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- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
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- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Economic Council, Georgia
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- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
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- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
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- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Planning Commission, India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
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- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
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