|Bid||4,014.50 x 30000|
|Ask||4,016.00 x 26800|
|Day's range||4,013.00 - 4,028.50|
|52-week range||3,255.50 - 4,541.00|
|PE ratio (TTM)||8.25|
|Forward dividend & yield||2.13 (5.11%)|
|1y target est||57.12|
PLC (RIO.LN) recorded a sharp rise in half-year iron ore exports by ramping up one mine and working others harder, and said it expects shipments to hit the high end of its target range for 2018. The Anglo-Australian mining company, one of the world’s top iron-ore sellers, said it shipped 168.8 million metric tons of the steelmaking commodity from its Australian mines in the first half of 2018, up 9% on a year ago. It also expects annual shipments to be around the upper end of an existing target of 330 million-340 million tons.
Rio Tinto Group, the world’s No. 2 iron ore exporter, reported second-quarter shipments rose 14 percent on productivity improvements and better weather. Bloomberg's David Stringer reports on "Bloomberg ...
Miners are considering new ways to make the dirt they dig up green. Across the U.S. border in Quebec, a research facility will fine-tune a technology that its owners—Alcoa Corp. and Rio Tinto PLC—believe could turn aluminum smelters carbon-free for the first time. Another initiative under way in Sweden could see hydrogen replace coking coal in manufacturing steel.
Global miner Rio Tinto (Hanover: CRA1.HA - news) said on Tuesday that its second-quarter iron ore shipments from Australia rose 14 percent and indicated its annual production would be at the upper end of its guidance. Australian iron ore shipments totalled 88.5 million tonnes in the quarter ended June 30, compared with 77.7 million tonnes a year ago, the company said in a statement. The miner said it expected iron ore shipments for the year to be at the upper end of its guidance of 330 million to 340 million tonnes because of productivity improvements and fewer weather-related disruptions compared with the same quarter last year.
Freeport's (FCX) latest move highlights a significant milestone toward establishing a new partnership with Republic of Indonesia for long-term stability of PT Freeport Indonesia's operations.
Oman's Sohar Aluminium will meet banks this week in London to discuss potential financing options, four sources familiar with the matter said. Jointly owned by Rio Tinto (Hanover: CRA1.HA - news) , Oman Oil Company and Abu Dhabi National Energy Company (TAQA), Sohar Aluminium was formed in 2004 to build an aluminium smelter in Oman which now has an annual production capacity of 375,000 tonnes.
Rio Tinto Plc’s Richards Bay Minerals in South Africa said workers are reporting for duty after violence and protests that started more than a week ago shut the operations. “Following a significant improvement in the security situation, employees are returning to work today and we will safely ramp up operations over the next few days,” the company said in an emailed response to questions. The Rio unit suspended operations after employees of a contractor company blocked access to the site.
Is Freeport’s Grasberg Transaction a Win-Win? As noted previously, Freeport-McMoRan (FCX) announced its stake sale in PT Freeport Indonesia (or PT-FI). The Indonesian government (EIDO) achieved two objectives from the transaction.
Snaking through Western Australia’s Outback, a driverless train has made the first autonomous delivery of iron ore from a Rio Tinto Group pit to a coastal port, as the No. 2 miner looks to reap the benefits from a $940 million plan deploying the world’s biggest robots. For Rio and its rivals, productivity improvements gained from new technology are helping to sustain efforts to trim costs and protect margins as iron ore prices wane. “Every train driver drives a bit differently, it’s very complex and they all have different levels of performance,” Ivan Vella, managing director for rail, port and core services at Rio’s iron ore unit, said in a phone interview.
BEIJING/MANILA (Reuters) - For miners seeking to cater to the changing appetite of China, the world's biggest iron ore importer, all eyes are on Tangshan, the country's biggest steel-making city and the drastic measures it's taking to rein in pollution. Tangshan has also warned mills they could face closure if they don't meet emission targets by October. The impact on pricing for iron ore has been dramatic and miners are scrambling to revamp their strategies in response.
Indonesia's state-owned miner Inalum has secured $5.2 billion (3.9 billion pounds) in financing from 11 foreign and local banks, according to sources with knowledge of the matter, to be used in part to buy a majority stake in the Grasberg copper mine. This comes a day after Freeport-McMoRan Inc (FCX.N) said it would sell a majority stake in the world's second-biggest copper mine to the Indonesian state-owned miner via a series of complex deals worth $3.85 billion. The Grasberg deal will be paid off quickly, helped by forecast returns from the mine, Inalum CEO Budi Gunadi Sadikin told Reuters on Friday.
For eight years, Stern Hu rose every morning at 6 a.m. in Qingpu Prison near Shanghai. Everyone in Brigade No. 8, the foreign prisoners unit, knew Hu. Chinese-born, with an Australian passport and a shock of white hair, he’d been a star at Rio Tinto Group, one of the world’s largest mining companies, before being sent to prison in 2010 for stealing trade secrets and taking bribes.
PLC have agreed to hand over control of the world’s second-biggest copper mine to Indonesia, moving closer to resolving one of the world’s most prominent recent battles over resource wealth. Thursday’s agreement comes after years of tense negotiations and follows moves by governments around the world, from the Democratic Republic of Congo to Tanzania, to wrest control of mines and take a bigger cut of profits. The deal also illustrates the dilemma facing large mining companies, which often sink billions of dollars into projects in far-flung places only to face unpredictable laws and yearslong battles.
JAKARTA/TORONTO, July 12 (Reuters) - Freeport-McMoRan Inc said on Thursday it will sell a majority stake in the world's second-biggest copper mine to the Indonesian government, seemingly ending a long-running dispute via a series of complex deals worth $3.85 billion. The agreement, which could still collapse, will see Freeport give up majority control but remain the operator of the Grasberg mine, located in the country's eastern province of Papua, as Jakarta seeks to gain greater control over its mineral wealth. Freeport accepted far less than it could have gotten for its majority Grasberg stake, highlighting the company's desire to end an acrimonious chapter that had weighed on its shares for more than six years.
On July 12, Freeport-McMoRan (FCX) announced that “it has entered into a Heads of Agreement with the Indonesian state-owned enterprise PT Indonesia Asahan Aluminium (Inalum) and PT Freeport Indonesia’s (or PT-FI) joint venture partner Rio Tinto.” Under the terms of the agreement, while Rio Tinto (RIO) will sell the entire stake in PT-FI, Freeport will divest a minority stake.
Indonesia struck an agreement on Thursday with Freeport-McMoRan Inc and Rio Tinto to buy a controlling stake in the world's second-biggest copper mine via a series of transactions valued at $3.85 billion. The deal should cap more than six years of wrangling over the rights for the Grasberg mine, located in the country's eastern province of Papua, as Jakarta seeks to gain greater control over its mineral wealth. "It's a new day for Freeport, and a new day for our working with the government," Freeport Chief Executive Officer Richard Adkerson said on a conference call with investors after a signing ceremony in Jakarta.
Rio Tinto had a joint venture with Freeport-McMoRan, operator of Grasberg, for a 40 percent share of Grasberg's production above specific levels until 2021 and 40 per cent of all production after 2021. Freeport-McMoRan separately said it will receive $350 million from PT Inalum after the stake sale.
Rio Tinto PLC (rio) and Freeport-McMoRan Inc. (fcx) announced Thursday a deal for the sale of Rio Tinto's interest in the Grasberg copper mine to Indonesia's state mining company, PT Indonesia Asahan Aluminium (Inalum) for $3.5 billion. Rio Tinto's U.S.-listed shares rose 1.2% in premarket trade and Freeport's stock rallied 1.8%. Freeport currently owns 90.6% of the Grasberg mine and Inalum owns the rest.
Mining company Rio Tinto on Thursday announced the sale of its 40 percent stake in the world's second-biggest copper mine, Grasberg, for $3.5 billion to Indonesia's state mining company PT Inalum. Rio ...
In what has become a pattern of two steps forward and one back, Freeport-McMoRan Inc. hailed a framework agreement that has been reached over its flagship copper-and-gold mine in Indonesia -- while acknowledging it’s far from definitive. “What we’ve done today, after months of hard work, is reach an important step towards progressing this framework agreement to point towards an ultimate consummation of it,” Chief Executive Officer Richard Adkerson said in a conference call Thursday. Earlier in Jakarta, Freeport and the Indonesian government announced a deal that confirms the price-tag to cede majority control of the Grasberg mine.
PLC (RIO.LN) expects the high-end colored diamonds its sells from an Australian mine to sidestep the volatility facing broader commodity markets as a trade battle intensifies. said he expects strong demand and better prices versus last year for stones being sold in Rio Tinto’s annual Argyle pink diamonds tender, interest for which is typically greatest in the U.S. but within a niche, “connoisseur” market. “Are we concerned about the market at this point in time, either in the U.S. or in other parts of the world, the answer is no,” Mr. Jacques said in an interview on Thursday.
Indonesia and Freeport-McMoRan Inc. are expected to end more than a year of wrangling over ownership of the giant Grasberg copper and gold mine, with an accord slated to be signed in Jakarta later in the day. Riza Pratama, a spokesman for Freeport’s local unit, declined to confirm that the signing will take place. For more than a year, Indonesia and Freeport have been discussing the company’s long-term presence in the country, in a process that’s been peppered by reports of progress followed by setbacks.
A mineral sands operation on the South African coast run by Rio Tinto (RIO.AX) (RIO.L) has been closed since Friday due to violent community protests which saw a security guard killed earlier this week, the company and a union said on Wednesday. Community unrest is a common feature of South Africa's social landscape, which is marred by high jobless rates and glaring income disparities, underscoring the social risks for investors in the country's mining sector. The operation, Richards Bay Minerals, is on South Africa's Indian Ocean coast.
A mineral sands operation on the South African coast run by Rio Tinto (Hanover: CRA1.HA - news) has been closed since Friday due to violent community protests which saw a security guard killed earlier this week, the company and a union said on Wednesday. Community unrest is a common feature of South Africa's social landscape, which is marred by high jobless rates and glaring income disparities, underscoring the social risks for investors in the country's mining sector. The operation, Richards Bay Minerals, is on South Africa's Indian Ocean coast.
Jul.16 -- Rio Tinto Group, the world’s No. 2 iron ore exporter, reported second-quarter shipments rose 14 percent on productivity improvements and better weather. Bloomberg's David Stringer reports on "Bloomberg Markets: Asia."