Rio Tinto completes lease and sale
(Posted on 15/11/18)
Rio Tinto has completed the lease and sale of a wharf and land in Kitimat, British Columbia, to LNG Canada for a consideration of $576 million.
LNG Canada, a joint venture comprising Shell, PETRONAS, PetroChina, Mitsubishi Corporation and KOGAS entered into an Option Agreement with Rio Tinto in 2014 for various options to lease or purchase the wharf and areas of land.
Rio Tinto Chief financial officer Jakob Stausholm said "This sale demonstrates our ability to generate cash from an existing asset, without losing future cash flow, as we continue to drive value across our entire portfolio.”
LNG Canada will construct a replacement wharf for Rio Tinto to export shipments of aluminium from the BC Works smelter.
The National Grain and Feed Association in the USA (NGFA) joined nearly 90 agricultural organizations... Read more
The World Steel Association (worldsteel) has released its April 2019 Short Range Outlook (SRO). worldsteel... Read more
Rio Tinto Group executive Joanne Farrell has decided to retire after nearly 32 years with Rio Tinto... Read more
Rio Tinto chief executive J-S Jacques has said, on the release of first quarter production results, &... Read more
BHP has released its operational review for the nine moinths ended 31st MarchBHP Chief Executive Officer... Read more
RUSAL, one of the leading global aluminium producers, and Braidy Industries Inc., a US base holding... Read more
GrainCorp Limited has announced its intention to demerge its global malting business, subject to shareholder... Read more
The USA Aluminum Association has released a joint letter with the Aluminium Association of Canada and... Read more
The International Energy Agency (IEA) released its annual Global Energy & CO2 Status Report... Read more
K+S has entered into an agreement with the Australian company, Kalium Lakes, for the purchase of up... Read more