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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, 19 May 13
COAL PRICES ARE SLUMPING DUE TO WEAK DEMAND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have gained 0.03 percent and API 8 CFR South China Coal shipment g ...
Sunday, 19 May 13
FREIGHT RATES TO REMAIN UNSTABLE AND VOLATILE - CAPT. REDDY
COALspot.com – The freight remained weak this week with all the segments down.
The BDI, the Baltic Dry Index is a number issued daily by th ...
Friday, 17 May 13
US COAL PRODUCTION CLIMBED 3.35 PER CENT WEEK ON WEEK
COALspot.com - U.S. produced totaled approximately 18.50 million short tons (mmst) in a week (For the week ended May 11, 2013), EIA said in its late ...
Thursday, 16 May 13
PANAMAX: THE FORWARD CURVE IS FALLING GRADUALLY - FEARNRESEARCH
Handy
The Atlantic market remained quiet. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The Pacific market remained uncertain as ...
Tuesday, 14 May 13
KALIMANTAN COAL
Press Release : After a very successful conference in 2012, the second annual event will address latest market developments and address the future p ...
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- Aditya Birla Group - India
- Posco Energy - South Korea
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- VISA Power Limited - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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