|Bid||79.25 x 0|
|Ask||79.40 x 0|
|Day's Range||78.68 - 79.69|
|52 Week Range||68.62 - 87.09|
|Beta (3Y Monthly)||0.78|
|PE Ratio (TTM)||14.28|
|Forward Dividend & Yield||3.99 (4.84%)|
|1y Target Est||62.65|
LONDON (Reuters) - British blue chips outperformed their European peers on Monday as fears about the terms of Brexit sank the pound, giving an accounting boost to stocks with foreign revenues in dollars. ...
Industralist Sanjeev Gupta's Liberty steel company has secured the financing for its acquisition of a Dunkirk aluminum smelter from Rio Tinto. The Liberty company said on Friday that it had entered into a committed financing agreement with a syndicate of major international banks. Liberty added that the financing allowed it complete the takeover of the site, which employs 560 staff, by end-November.
Electric vehicles use a lot of copper. But supplies are already tight and it takes years to bring more on line. That should help a handful of European mining companies.
Moody's Investors Service ("Moody's") placed all ratings (A3 senior unsecured and P-2 short-term) of the Rio Tinto group rated entities (Rio Tinto) on review for upgrade. The review results from the strengthening Rio Tinto's metrics attributable to its debt reduction in recent years under its liability management program, the reduction in costs from the group's focus on productivity and logistics, which helps to mitigate cost creep being seen in input costs.
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Global miner Rio Tinto's (RIO.AX)(RIO.L) outline deal to sell its stake in the Simandou iron ore project in Guinea has lapsed after years of negotiations failed to produce an agreement with Aluminum Corp of China (Chinalco) . Simandou is one of the world's biggest iron deposits, containing billions of tonnes of high-grade ore under the remote forested hills of Simandou, but development has been complicated by its location far from the West African nation's coast. Rio announced a non-binding deal to sell its stake in October 2016.
Mining companies must forge new ties with partners from customers to governments as they pursue innovation and compete for talent with technology giants, Rio Tinto's chief executive said in a speech to be delivered on Tuesday. The mining industry has recovered from the deep commodity crash of 2015-16, but faces headwinds from U.S.-China trade tensions, which have dented the copper price, and is struggling to win investor trust. In a copy of a speech to be delivered at a conference in Melbourne on Tuesday, CEO Jean-Sebastien Jacques said pushing the industry forward calls for "a brand new spirit of partnership".
(Adds futures, company news item) Oct 29 - Britain's FTSE 100 index is seen opening 10 points higher at 6,949 on Monday, according to financial bookmakers, with FTSE 100 futures up 0.87 percent ahead of ...
Rio and its partner, known as Chinalco, will work with Guinea’s government “to explore other options to realize value” from the asset, Rio said Monday in a statement. Development of Simandou, which holds an estimated 2 billion metric tons of iron ore, has been hampered by issues including infrastructure requirements. Rio holds about 45 percent of the project, while Chinalco has about 40 percent and Guinea’s government owns a 15 percent stake, the company said.
Anglo American (AAL.L) on Tuesday reported lower diamond, coking coal and iron ore volumes in the third quarter, linked to planned outages, but its overall output rose 1 percent on the year, boosted by a 17-percent increase in copper production. Other major miners reporting this month - BHP (BHP.AX) (BLT.L) and Rio Tinto (RIO.AX) (RIO.L) - have signalled lower output in copper, a mineral expected to be in high demand from increased electrification. Anglo American said its copper production had been helped by an overall increase in productivity as each employee has been 5 percent more productive this year than in 2017.
With its biggest stock overhang -- a deal around its flagship asset in Indonesia -- close to being solved, the miner has said all options are open, even potentially a sale of the entire company. Major miners, including Rio Tinto Group, have said they’re keen to boost production of copper, the industrial metal that’s benefiting from demand for new energy systems and rechargeable batteries. “I’m not sure there is a buyer for large-scale assets at premium in the market now,” Christopher LaFemina, an analyst at Jefferies LLC, said in a phone interview from New York.
Copper producer Atalaya Mining , which is backed by Swiss trading giant Trafigura, is looking for a buyer, two banking sources said on Thursday. The Cyprus-based miner has hired Canadian investment bank Bank of Montreal to help with the sale, the sources said. Atalaya's main copper asset, the Proyecto Riotinto in the Spanish region of Andalucia, was part of a mine complex bought in 1873 by the founders of Rio Tinto from the Spanish government to start the Anglo-Australian mining giant.
Rio Tinto (RIO.L) (RIO.AX) is close to restarting a sale process for some of its aluminium assets, including a plant in Iceland, which have been valued at around $350 million, two sources familiar with the matter said. The assets include a 53 percent stake in a Dutch anode facility and 50 percent of the shares in a Swedish aluminium fluoride plant, which are ingredients in aluminium production, the sources added. French investment bank Natixis (CNAT.PA) has been helping Rio with the sale, one of the sources said.
Energy and mining stocks helped the FTSE 100 recover some of its losses on Tuesday, in a half-hearted bounce which left the index near its lowest in a month as Brexit negotiations and Italy's budget deficit continued to sap investors' appetite for risk. Britain's top stock index (.FTSE) ended the day where it began, up 0.1 percent after a volatile session, with investors on tenterhooks as Italy's finance minister addressed parliament. A selloff in the previous session had taken the FTSE down to its lowest intraday level since September, and weakest close since April.
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As mining companies in Guinea ramp up bauxite production, they are upending rural communities and undermining air and water quality while government authorities fail to rein in abuses, Human Rights Watch (HRW) said in a report on Thursday. Despite the growth in economic activity however, Guinea's bauxite mining heartland has been racked by unrest in recent years, fuelled by the frustrations of the local population. "The widespread perception among residents of mining-affected communities ... is that they have been abandoned by the state to resolve problems with mining companies on their own," the report stated.
A tie-up between Randgold Resources and Barrick Gold will leave a void in the London market for investors seeking exposure to gold via companies that produce the precious metal. Canada's Barrick Gold has agreed to buy Africa-focused Randgold for $6.5 billion to create the world's largest gold producer. Randgold, listed in London for 21 years, is the second mining company to announce its departure from the British capital's stock exchange in three months following Vedanta Resources.
Rio Tinto and its joint venture partners, Mitsui & Co and Nippon Steel & Sumitomo Metal , will spend about $1.55 billion (£1.2 billion) to maintain production capacity at two iron ore projects in Western Australia. Rio will invest a total of $820 million to develop the projects at the Robe River Joint Venture in Australia's mineral rich Pilbara region, the Anglo-Australian miner said in a statement on Monday. Rio said the investments would enable it to sustain production of its Pilbara Blend brand of iron ore and its Robe Valley lump and fines products.