According to British media reports, Australian mining company Rio Tinto will sell its 50.1% share of Clermont coal mine in Australia to Swiss commodities giant Glencore Xstrata and Japan’s Sumitomo, transaction amount of $ 1.02 billion.
Rio Tinto said in a public statement, in the process of the company continues to optimize the investment combination, the transaction will reflect shareholders’ investments. Rio Tinto said after the sale of 50.1% of the Clermont coal mine shares, company will be committed to the long-term development of other mining in central Queensland region.
So far this year, Rio Tinto has announced that it has completed the divestiture of the total size of $ 2.92 billion. In addition to the announces sale of Clermont Coal Mine shares, Rio Tinto plans to sell other assets including, to China Molybdenum Group Co., Ltd. sale Australia North Parkes Copper Gold Holding stock; Selling South Africa’s largest copper mine Palabora more than half of equity and transfer States nickel-copper project in the United to Lundin Mining Corporation of Canada.
In addition, because of the sharp drop in demand from China, Rio Tinto announced the first-half year profit fell 71%, company had to cut costs in various ways.
JFE to the Gulf of Mexico ultra-deep gas development project supply pipe
Japan’s JFE Steel Corporation said, it has supplied 1,900 tons thick-walled tube for the U.S. Natural Resources developer Freeport-McMoRan Oil & Gas LLC.
These thick-walled tubes produced by JFE Steel Corporation Chita plant, maximum wall thickness of 1.35 inches, OD 7-9 inches, which is high corrosion resistance seamless steel pipe and use for Gulf of Mexico ultra-deep oil and gas development projects. Because of poor using environment, this product requires thicker than conventional steel, better corrosion resistance and required to resist ultra-low temperature of minus 230 degrees Celsius.
JFE Steel Corporation said the success of the project may increase the use of ultra-deep oil pipes.