Rio Tinto Pulls Plug on Mozambique Coal Venture
Rio Tinto has agreed to sell coal assets it bought through a $4 billion acquisition of Riversdale in 2011 for just $50 million to an Indian joint venture, ending its ill-fated venture in Mozambique's coal sector. The sale of Rio Tinto Coal Mozambique to International Coal Ventures Private Limited (ICVL), includes the Benga coal mine and other projects in Tete province, assets that had a value of $71 million as of March 31 in Rio's books. In 2013, Rio Tinto sacked its chief executive…
Bibby Appoints New Chief Operating Officer
Bibby Ship Management Group Ltd. appointed Chris Stone as its new Chief Operating Officer. He joined the business on July 1, 2013. Chris will replace Simon Barham who was scheduled to move on from Bibby Ship Management at the end of June. However, Simon has kindly agreed to work a further month to have a managed handover with Chris and will therefore leave at the end of July 2013. Chris has over 30 years’ world-wide experience in the maritime and logistics sector having worked in in Africa, the Middle East, India and most recently in Asia Pacific and Australasia.