RIO.AX - Rio Tinto Limited

ASX - ASX Delayed Price. Currency in AUD
79.41
-0.43 (-0.54%)
As of 4:10PM AEST. Market open.
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Previous Close79.84
Open79.63
Bid83.38 x 0
Ask73.06 x 0
Day's Range79.03 - 79.93
52 Week Range62.11 - 87.09
Volume976,200
Avg. Volume1,762,936
Market Cap136.974B
Beta0.85
PE Ratio (TTM)16.31
EPS (TTM)4.87
Earnings DateAug 1, 2018
Forward Dividend & Yield3.66 (4.53%)
Ex-Dividend Date2018-03-01
1y Target Est66.49
  • Freeport (FCX) Declares Terms of PT-FI Divestment & New Deal
    Zacks10 hours ago

    Freeport (FCX) Declares Terms of PT-FI Divestment & New Deal

    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.

  • The Wall Street Journal15 hours ago

    [$$] Miners Test Greener Ways to Dig

    Miners are considering new ways to make the dirt they dig up green. 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.

  • Rio Says Workers Return at South Africa's Richards Bay Minerals
    Bloomberg16 hours ago

    Rio Says Workers Return at South Africa's Richards Bay Minerals

    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.

  • What Freeport, Rio Tinto, and Indonesia Get from Grasberg Deal
    Market Realist3 days ago

    What Freeport, Rio Tinto, and Indonesia Get from Grasberg Deal

    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.

  • Reuters4 days ago

    Q&A-What's left to resolve in Indonesia's $3.9 billion mine deal with Freeport?

    Freeport-McMoRan Inc agreed on Thursday to sell a majority stake in the world's second-biggest copper mine to the Indonesian government via a series of complex deals worth $3.85 billion, potentially ending a long-running dispute on mining rights. Freeport and Rio Tinto have agreed on a structure and pricing for a series of transactions to transfer majority ownership of the Grasberg project to Indonesia's state-owned mining holding company, PT Inalum. Inalum will pay $3.5 billion for Rio Tinto's 40 percent participating interest which Freeport will then convert into an equity holding in local unit PT Freeport Indonesia.

  • Robot Trains Are Slashing Mining Costs in Australia's Outback
    Bloomberg4 days ago

    Robot Trains Are Slashing Mining Costs in Australia's Outback

    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.

  • Reuters4 days ago

    Focus: Survival of the finest: miners reboot as smog-hit China seeks high grade ore

    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.

  • Reuters4 days ago

    Indonesia's Inalum secures $5.2 billion financing for Freeport deal - sources

    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.

  • When Rio Tinto Met China’s Iron Hand
    Bloomberg4 days ago

    When Rio Tinto Met China’s Iron Hand

    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.

  • Reuters4 days ago

    Indonesia's Inalum secures $5.2 bln in financing for Freeport deal -sources

    Indonesia's state-owned miner Inalum has secured $5.2 billion in financing from 11 foreign and local banks, according to several sources with knowledge of the matter. The financing would be used in part to pay for a $3.85 billion deal for a majority stake in the local unit of Freeport-McMoRan Inc, said the sources, who declined to be identified because of the sensitivity of the matter.

  • The Wall Street Journal4 days ago

    [$$] Indonesia Moves Closer to Taking Controlling Stake in Freeport Mine

    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.

  • Freeport to cede control of Indonesian copper mine in $3.9 billion deal
    Reuters4 days ago

    Freeport to cede control of Indonesian copper mine in $3.9 billion deal

    JAKARTA/TORONTO (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 (£2.91 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.

  • Reuters4 days ago

    Freeport to cede control of Indonesian copper mine in $3.9 bln deal

    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.

  • The Markets Aren’t Excited about Freeport’s Grasberg Resolution
    Market Realist4 days ago

    The Markets Aren’t Excited about Freeport’s Grasberg Resolution

    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.

  • Reuters4 days ago

    Indonesia to pay $3.85 billion for majority stake in Freeport's Grasberg copper mine

    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.

  • Reuters4 days ago

    Glencore shares under cloud after U.S demands Congo documents in probe

    A U.S. demand for documents related to Glencore's (GLEN.L) assets in Democratic Republic of Congo (DRC) as part of a corruption probe has rattled investors and is likely to weigh on the miner's performance until there is more clarity on the case. Glencore said it had received a subpoena from the U.S. Department of Justice dated July 2 requesting documents for its Congo business over compliance with the U.S. Foreign Corrupt Practices Act and rules against money laundering. Glencore is now down about 20 percent so far this year, trading around 314 pence on Thursday.

  • Rio Tinto sells $3.5 billion stake in Grasberg copper mine to Indonesian state miner
    Reuters4 days ago

    Rio Tinto sells $3.5 billion stake in Grasberg copper mine to Indonesian state miner

    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.

  • Financial Times5 days ago

    [$$] Rio Tinto sells Grasberg stake for $3.5bn

    , the world’s second-biggest copper mine, for $3.5bn, a deal that would open its share register to a wider range of investors. by the country’s President Joko Widodo to boost local ownership of natural resources. Once these transactions have been completed and Rio’s interest converted into equity, Inalum will emerge with a 51 per cent interest in Grasberg.

  • Freeport Unveils Indonesia Price But Plenty Left to Resolve
    Bloomberg5 days ago

    Freeport Unveils Indonesia Price But Plenty Left to Resolve

    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.

  • The Wall Street Journal5 days ago

    [$$] Rio Tinto Confident Trade Jolts Won't Rub Shine Off Rare Diamonds

    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 Set to End Grasberg Wrangling With Accord
    Bloomberg5 days ago

    Indonesia and Freeport Set to End Grasberg Wrangling With Accord

    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.

  • Reuters6 days ago

    Rio Tinto's minerals sands operation in South Africa shut by protests

    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.

  • Analysts Embrace First Quantum despite Falling Copper Prices
    Market Realist7 days ago

    Analysts Embrace First Quantum despite Falling Copper Prices

    First Quantum Minerals (FM) has received “strong buy” ratings from seven analysts, while six have rated the stock as a “buy.” The remaining 11 analysts polled by Thomson Reuters on July 5 rated the stock as a “hold” or some equivalent. First Quantum has received a mean consensus price target of 24.16 Canadian dollars, representing a potential upside of 30.0% over its July 5 closing price. In terms of recent action, on June 29, Scotiabank upgraded First Quantum to “focus list.” Prior to that, on June 14, TD Securities upgraded the stock from a “buy” to an “action list” and raised its target price from 25 to 30 Canadian dollars.

  • Reuters11 days ago

    Chilean miner Mantos Copper seeks buyer to help finance expansion

    Private equity-backed Chilean miner Mantos Copper is looking to find a buyer to help finance the expansion of mines it bought from Anglo American in 2015, it said. The company's owner, a consortium led by British investment company Audley Capital Advisors and Orion Mine Finance Group, bought the Mantos Blancos and Mantoverde copper mines from Anglo for $300 million plus $200 million in conditional future payments. In April, Mantos Copper said it would extend the life of the mines after obtaining environmental permits, despite rising costs of production.

  • Rio Tinto CEO: High expectations that 2018 tender will be...
    CNBC Videos5 days ago

    Rio Tinto CEO: High expectations that 2018 tender will be...

    Jean-Sebastien Jacques, CEO of a mining company Rio Tinto, discusses the impact of trade tensions on his business.