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India group ICVL to nearly triple coal output from mine bought from Rio Tinto

India group ICVL to nearly triple coal output from mine bought from Rio Tinto

Last Updated: Friday, August 01, 2014, 09:55

Rio Tinto said on Wednesday it would sell the Benga mine and other projects in Tete province it bought via a $4 billion acquisition of Riversdale Mining in 2011 for just $50 million to the group.

Rio Tinto sells Mozambique coal assets

Last Updated: Wednesday, July 30, 2014, 17:25

A consortium of Indian state-run companies -- International Coal Ventures -- will take over the mines, and the deal will be finalised in the third quarter of this year.

ICVL to buy Rio Tinto's coal assets in Mozambique for $50 mn

Last Updated: Wednesday, July 30, 2014, 13:10

The acquisition will be the first of ICVL since its inception in 2009.

ICVL likely to submit $200 mn bid for Rio Tinto Mozambique

Last Updated: Tuesday, July 01, 2014, 20:24

The mines have estimated reserves of around 200 million tonnes of both coking and thermal coal.

Rio Tinto set to finalise $20 bn Guinea iron ore project

Last Updated: Monday, May 19, 2014, 14:00

Global mining giant Rio Tinto says it is set to finalise a USD 20 billion deal to develop the world`s biggest untapped iron-ore deposit in Guinea

Vedanta appoints ex-Rio Tinto chief Tom Albanese as new CEO

Last Updated: Thursday, March 06, 2014, 14:02

Albanese will replace Mahendra Singh Mehta, whose departure had already been announced.

Rio Tinto bounces back with US$3.67 bn annual profit

Last Updated: Thursday, February 13, 2014, 13:23

Anglo-Australian mining giant Rio Tinto staged a dramatic turnaround in 2013 to report a US$3.67 billion annual net profit Thursday after a major cost-cutting drive that saw thousands of workers sacked and capital spending slashed.

Stung by curbs, iron ore firms throw in the towel

Last Updated: Thursday, January 02, 2014, 07:36

Top trader MMTC`s $80 million iron ore export terminal, ready since 2010, has never handled a cargo. Now the company wants to spend $16 million to convert the terminal to ship coal.

Tom Albanese to join Vedanta Resources board soon: Agarwal

Last Updated: Monday, November 04, 2013, 18:49

London-listed Vedanta Resources intends to appoint Tom Albanese, former Chief Executive of natural resources giant Rio Tinto, on its board soon.

Rio sells Australian coal mine stake for $1.02 bn

Last Updated: Monday, October 28, 2013, 16:12

Resources giant Rio Tinto announced the USD 1.02 billion sale of its stake in Australia`s Clermont thermal coal mine Monday as it seeks to shore up its ailing bottom line.

Ex-Rio Tinto CEO Tom Albanese joins Vedanta

Last Updated: Monday, September 16, 2013, 17:56

London listed mining giant Vedanta Resources has appointed Tom Albanese, former Chief Executive of Rio Tinto, as chairman of its subsidiary Vedanta Resources Holdings Ltd.

Glencore to take up to $7 billion hit on Xstrata assets

Last Updated: Monday, August 19, 2013, 10:48

Glencore Xstrata is expected to write down the value of assets inherited from Xstrata by as much as USD 7 billion when it reports first-half earnings on Tuesday.