|Bid||45.095 x 0|
|Ask||46.100 x 0|
|Day's range||45.245 - 45.245|
|52-week range||36.520 - 50.480|
|PE ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y target est||N/A|
Rio Tinto, which competes with Vale SA (VALE5.SA) and BHP Billiton Ltd (BHP.AX) in the seaborne-traded iron ore market, maintained its target to ship 330 million tonnes of the steel-making material in 2017. Shipments from its Australian mines totaled 85.8 million tonnes in the third quarter compared with 80.9 million in the same period a year ago, Rio Tinto said. “The business performed very well in the September quarter, with a strong quarterly production performance and a wave of productivity improvements embedded through our operations," Rio Tinto Chief Executive Jean-Sebastien Jacques said in a statement.
Canadian miner Kincora Copper plans over coming months to start exploration drilling in Mongolia, its CEO told Reuters, calling the area "one of the last frontiers" for top quality copper assets. Kincora's CEO Sam Spring compared Mongolia to Chile (Stuttgart: 704599.SG - news) , the world's largest copper producer, in the 1970s when it was still under-explored and said he hoped to find another Oyu Tolgoi, using a team with experience of finding tier-one copper assets.
Mineral-rich Mongolia plans to double the amount of land available for exploration in an effort to tap into the mining industry's appetite for new resources and help shore up its finances following an IMF-led bailout. Mongolia will increase the land to 20.9 percent of the country from 9.6 percent currently, and could announce the change later this month, the minister of mining and heavy industry, Dashdorj Tsedev, said in an interview on Monday. Miners say Mongolia ranks as one of the best prospects in the world for new copper reserves, as the best quality ore bodies in many other parts of the world have been depleted and electric vehicles raise the possibility of a surge in demand.
MELBOURNE/LONDON, March 3 (Reuters) - Rio Tinto (Hanover: CRA1.HA - news) and its partners are cutting output and jobs at the Boyne aluminium smelter in Australia, adding to cuts announced in January, it said on Friday, blaming a jump in power prices. Rio said output would be cut by 14 percent and that "a significant number of jobs lost". "Boyne Smelters has been working hard to secure a competitive energy deal.
The world's second biggest miner Rio Tinto (Hanover: CRA1.HA - news) has deferred for at least two years a decision on former chief executive Sam Walsh's performance-related pay, after a scandal over $10.5 million in payments to a consultant in Guinea. The scandal erupted in November after Rio Tinto become aware of emails from 2011 that referred to the payments in connection with the vast Simandou iron ore project. "I would add that the company acknowledges my firm belief that during my time with Rio Tinto I always acted lawfully and in accordance with my duties and this applies to the Simandou project," he said, adding that after 25 years with the company he had left "with a good conscience".
Shareholders are pressuring miner Freeport-McMoRan Inc to stand up to the Indonesian government over changes the Southeast Asian country wants to make in the U.S. miner's contract, Freeport's chief executive officer said on Monday. Rio Tinto Plc (LSE: RIO.L - news) , which is a partner in Freeport's massive Grasberg copper and gold mine in Indonesia, is also supportive of Freeport's tougher approach toward Jakarta, CEO Richard Adkerson said.
The chairmen of HSBC and Rio Tinto (Hanover: CRA1.HA - news) are engaged in a two-horse race to replace Sir Mike Rake at the helm of BT Group (Other OTC: BTGOF - news) 's board as the telecoms group battles to hammer out a deal with Ofcom over the future of its Openreach infrastructure unit. Sky News has learnt that Douglas Flint, who is due to step down at HSBC later this year, and Jan du Plessis, who has led Rio since 2009, have been identified as the leading candidates to become BT's next chairman.
Sam Laidlaw, the former boss of Centrica (Frankfurt: A0DK6K - news) , is in talks to join the board of the mining giant Rio Tinto (Hanover: CRA1.HA - news) - an appointment that would place him among the leading candidates to become its next chairman. Sky News has learnt that Mr Laidlaw is in advanced discussions with Rio, which has seen its financial performance benefit from rebounding commodity prices but which is facing a bribery probe in connection with an African iron ore project. Sources close to the FTSE-100 miner said that it hoped to strike a formal deal with Mr Laidlaw to join its board as a non-executive director in the next few weeks.
Rio Tinto asset Coal & Allied, which operates several mines in New South Wales state, will be sold to China-backed Yancoal Australia for up to US$2.45 billion
SYDNEY/LONDON, Jan 24 (Reuters) - Rio Tinto Plc (LSE: RIO.L - news) has agreed to sell its Australian unit Coal & Allied Industries Ltd to Chinese government-controlled Yancoal Australia Ltd for up to $2.45 billion in cash, it said on Tuesday. Analysts said the price was a good deal for selling off thermal coal assets, which Rio no longer views as core. Rio's share price rose 4 percent in London trade, just above gains of 3.5 percent for the wider sector.
Global miner Rio Tinto hit its mid-point target for iron ore shipments from Australia in 2016 and kept its guidance of 330 million-340 million tonnes for this year intact. The world's second-biggest supplier ...
TEL AVIV, Dec (Shanghai: 600875.SS - news) 20 (Reuters) - Israeli police arrested a former business associate of mining billionaire Beny Steinmetz on Tuesday in a widening inquiry into allegations of bribery and corruption in Africa. Asher Avidan, ex-president of a company linked to Steinmetz's BSG Resources (BSGR) and a former employee of Israel's Ministry of Foreign Affairs, has been placed under house arrest until Jan. 2, police said. The move follows the detention on Monday of Steinmetz, 60, who along with other Israelis living abroad is alleged to have paid tens of millions of dollars to senior public officials in Guinea to advance their businesses, police said.
LONDON/SINGAPORE, Dec (Shanghai: 600875.SS - news) 20 (Reuters) - The world's big mining groups are sharpening their marketing strategies in a post-crisis scramble for even tiny increases in profit, seeking marginal gains much like cycling teams in the Tour de France or Olympic velodrome. Anglo American (LSE: AAL.L - news) , BHP Billiton (NYSE: BBL - news) and Rio Tinto (Hanover: CRA1.HA - news) are using varying tactics to boost profitability on commodities such as copper, iron ore and coal, as the traditional model of simply producing more is under strain and the recovery from a deep downturn remains tentative. The one thing in common is a philosophy championed by cycling coach Dave Brailsford: achieve marginal gains in as many areas as possible and the overall performance of the rider - or in this case the business - will improve significantly.
LONDON, Dec (Shanghai: 600875.SS - news) 12 (Reuters) - Rio Tinto (Hanover: CRA1.HA - news) said on Monday it would defend itself robustly if rival miner BSG Resources (BSGR) pursues a threat to file a law suit over mining rights in Guinea. Earlier BSGR said it had sent a "pre-action" letter to Rio Tinto, alleging Rio Tinto contributed to the loss of its mining rights in Simandou, the latest twist in two decades of attempts to exploit the world's largest untapped iron ore reserves. Rio Tinto faces a separate legal action from a former senior executive, one of two sacked in November following an inquiry into $10.5 million in payments to a consultant who helped Rio win rights to develop iron ore lode in the Simandou mountains.
Britain's top share index rose to a one-month high on Wednesday, rallying for a third straight session as investors snapped up bank and mining stocks and rotated out of more "defensive" parts ...