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.
Latest News
Vale to purchase Ferrous
(Posted on 11/12/18)Vale informs that it entered into a definitive agreement to buy Ferrous Resources Limited, a company... Read more
Rusal makes top 100 in emerging markets
(Posted on 11/12/18)UC RUSAL, one of the leading global aluminium producers, has been listed among the top 100 Best Emerging... Read more
South Australia's grain harvest falls
(Posted on 03/12/18)Primary Industries and Regions SA (PIRSA)'s Crop and Pasture Report for Spring Crop Performance haws... Read more
BHP copper exploration update
(Posted on 03/12/18)Melbourne, Australia based BHP has confirmed identification of a potential new iron oxide, copper, gold... Read more
Rio Tinto iron ore investment
(Posted on 03/12/18)Rio Tinto is to develop its most technologically advanced mine following the full approval of a $2.6... Read more
Australian woodchip exports soar
(Posted on 27/11/18)Assistant Minister for Agriculture and Water Resources, Senator Richard Colbeck, welcomed the continued... Read more
Rio Tinto agrees Rössing stake sale
(Posted on 27/11/18)Rio Tinto has entered into a binding agreement with China National Uranium Corporation Limited ("CNUC... Read more
New carbon capture report
(Posted on 15/11/18)The World Coal Association (WCA) has launched a new report calling for a step-change in international... Read more
Importing grain for stock feed
(Posted on 15/11/18)With many parts of Australia in drought, the Department of Agriculture and Water Resources has been... Read more
Coal to biomass research project begins
(Posted on 09/11/18)This month the European ARBAHEAT consortium will start a research project to investigate the conversion... Read more
