|Bid||80.45 x 11200|
|Ask||80.47 x 6000|
|Day's Range||80.36 - 81.21|
|52 Week Range||56.72 - 82.73|
|PE Ratio (TTM)||16.52|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||66.17|
A global aluminium producer has offered Japanese buyers a premium of $135 per tonne for primary metal shipments during the April to June quarter, up 31 percent from the current quarter, three sources directly involved in the pricing talks said on Friday. Japan is Asia's biggest aluminium importer and the premiums for primary metal shipments it agrees to pay each quarter over the London Metal Exchange (LME) cash price set the benchmark for the region. The higher offer follows rising U.S. spot premiums that have climbed to their highs in nearly three years due to logistic disruptions amid a shortage of truck drivers and heavy snowfall, as well as potential trade curbs by the U.S. government on aluminium imports from China and other countries, the sources said.
Mongolia's giant Oyu Tolgoi copper-gold mine in the Gobi desert will weigh alternative options in order to guarantee electricity supply over the coming years, it said on Friday, after casting doubt on state plans to build a new power plant in the region. Oyu Tolgoi, which is run by Anglo-Australian mining giant Rio Tinto, is under pressure to procure power from domestic rather than Chinese sources within the next four years, as stipulated in a 2009 investment agreement. Mongolia's energy minister said this week that a power plant due to be constructed at the Tavan Tolgoi coal mine near the Chinese border could help meet the supply gap, if Rio Tinto could guarantee financing for the project.
Rio Tinto (RIO.L) (RIO.AX) is moving some of its support staff as it creates three global hubs, but is not changing its operating model, it said on Thursday. Rio Tinto, the second biggest miner by market capitalisation, has listings in London and Australia, a headquarters in London and an Australian office. Rio Tinto said in an emailed statement its operating model was not changing, but it was "adjusting where work is done by creating three global hubs" and it was starting a consultation with British employees as some roles would be moved to one of the three hubs.
* Indonesia issued the local unit of copper miner Freeport McMoRan Inc with a quota to export 1,247,866 wet metric tonnes of copper concentrate up to Feb 15, 2019, a mining ministry official said on Monday. ...
Investors are shunning the mining sector, data from Thomson Reuters shows, as they struggle to forget the string of multi-billion dollar takeovers and expensive development projects that left them empty handed. The mining sector led the FTSE higher in 2016 as it rebounded from the previous year's deep price crash, but it is still well below levels seen in 2011.
A woman dressed elegantly in a black pants suit, hands tucked in her pockets, poses with confidence as she displays a collection of glistening silver medals gleaming from her tailored jacket. "A memento to reward your own success," reads the slogan alongside a diamond encrusted pendant in an advertisement from Chow Tai Fook, a Hong Kong-based jewellery company that has a big presence across China. Facing slowing global demand for diamond jewellery, diamond companies from around the world are reshaping marketing campaigns to tap a growing pool of independent female spenders in China, the world's second largest economy.
Standard & Poor's on Tuesday raised its credit rating on global miner Rio Tinto for the first time since 2011 on the back of strong financial results and said the global miner could easily fund a big acquisition. S&P said one of the main factors that led to the upgrade to 'A' from 'A-' was Rio Tinto's sharp reduction in debt over the past four years and its "willingness to keep it low", which would shore it up well against any future downturns. "Alternatively, it could allow the company to enter into sizable merger and acquisition (M&A) transactions without overstretching its balance sheet," S&P said.
Moody's Investors Service views as credit positive Rio Tinto's ( Rio Tinto - A3, stable) performance for the year ended December 31, 2017. Recovery in prices across the commodities in which the company ...
Copper bulls who are betting on labour strife this year due to a full calendar of contract talks may be disappointed if early wage deals at two copper mines are a signpost for further agreements with mine workers. Benchmark copper prices rallied 12 percent in December, partly due to fear of shortages if workers go on strike since many major operations in top producers Chile and Peru have contacts expiring this year, including at top mine Escondida. Chile's state-owned Codelco said late last month it had struck a contract deal with workers at its Andina copper mine, while workers at the Lomas Bayas mine accepted a contract offer from operator Glencore Plc (GLEN.L) early in January.
By Danilo Masoni and Helen Reid MILAN/LONDON (Reuters) - European shares broke a seven-day losing streak on Wednesday as investors took heart from a recovery on Wall Street and reduced volatility, returning ...
Britain's major share index came close to recovering from a brutal global sell-off on Wednesday, rising from 10-month lows as shares in financials gained ground. The FTSE 100 (.FTSE) was up 1.9 percent at 7,279.42 points at its close, in line with a bounce across other European bourses. "Whilst we don’t expect this sell off to continue for an extended period of time, given that the fundamentals remain strong and unchanged, it is difficult to call the bottom and judge whether stocks have fallen sufficiently for investors to see value once again," said Fiona Cincotta, market analyst at City Index, said.
MELBOURNE/CAPE TOWN (Reuters) - Rio Tinto (RIO.AX) (RIO.L) handed out a record dividend on Wednesday and predicted global manufacturing growth would drive further returns after stronger commodity prices helped the miner to its highest annual profit in three years. All the big miners have recovered from the commodity crash of 2015-16, but Rio Tinto has emerged with the strongest balance sheet and a pile of cash, raising the question of what it can do to grow when the most obvious resources have been mined. Its full-year dividend of $2.90 a share - equal to about $5.2 billion - was up 70 percent from last year and reflected higher prices for iron ore, aluminium, copper and coking coal.
Rio Tinto (RIO.AX) (RIO.L) on Wednesday denied allegations by a Dutch non-profit organisation that it had avoided paying $700 million of tax to Mongolian and Canadian authorities relating to its giant Oyu Tolgoi copper project. Rio Tinto is investing about a $1 billion (£706.5 million) a year at Oyu Tolgoi in the Gobi Desert, where it operates a mine and is building an underground extension that would add approximately 500,000 tonnes of production a year in the next decade. The Centre for Research on Multinational Corporations, known as SOMO, alleged in a report that Rio and its Canadian subsidiary Turquoise Hill used so-called mailbox companies in the Netherlands and Luxembourg to avoid $470 million in Canadian taxes and $230 million in Mongolian taxes.
Moody's Investors Service, ("Moody's") upgraded Freeport-McMoRan Inc's (FCX) Corporate Family Rating (CFR) and Probability of Default rating to Ba2 and Ba2-PD respectively from B1 and B1-PD respectively. ...
Rio Tinto (RIO.L) (RIO.AX) lifted force majeure on Jan. 1 for shipments of refined copper and acid from its Kennecott mine in the United States, 79 days after declaring it could not meet customer commitments, a spokesman said on Friday. The global miner declared force majeure Oct. 13, after halting production of refined copper at its Utah mine smelter following the death of a worker exposed to sulfur dioxide gases at the plant. In the fourth quarter, refined copper production at Kennecott declined 67 percent compared with the same period in the previous year, to 22,100 tonnes from 67,000 tonnes, Rio said in an operations report last week.
Chinese steelmakers have succeeded in a push to include domestic iron ore price indices in some 2018 annual supply contracts with global miners, four industry sources said, as the world's top buyer boosts its clout over pricing of major commodities. The move marks a major step in the evolution of iron ore pricing after the industry abandoned decades-old closed door talks between miners and steelmakers in 2010 in favour of a daily price index.
BT (BT.L) still has work to do to restore shareholders' confidence after a difficult year that saw its shares plunge in the wake of an Italian accounting scandal, according to one of Britain's leading investor groups. The Investor Forum, an independent body whose members are institutions that manage about 14 trillion pounds ($20 trillion) of global assets, disclosed on Thursday that it had raised concerns with the telecoms giant last year at the behest of unhappy shareholders who own about 12 percent of the business. "The objective was to ensure that the company had a clear view of investor frustrations as well as an understanding of the need for prompt and decisive action to help restore the reputation of the company," the Forum said in its annual report.
The top U.S. securities regulator on Tuesday rejected arguments by Rio Tinto Plc (RIO.L) (RIO.AX) and two former top executives that its civil lawsuit claiming they concealed the plunging value of coal assets owned by the big Anglo-Australian mining company should be dismissed. In letters filed with the U.S. District Court in Manhattan, the Securities and Exchange Commission said its complaint adequately alleged that fraud occurred, and that Rio Tinto, former Chief Executive Thomas Albanese and former Chief Financial Officer Guy Elliott intended to deceive investors. Rio Tinto responded by referring to its statement in October that it believed the lawsuit was unwarranted and that a court or jury would reject the SEC's claims.
The Oyu Tolgoi copper-gold mine in Mongolia's southern Gobi Desert declared force majeure after protests by Chinese coal haulers disrupted deliveries near the border, majority owner Turquoise Hill said Wednesday. Protesters used vehicles to obstruct the main access road in China leading to the Chinese-Mongolian border, resulting in Oyu Tolgoi convoys being unable to deliver copper concentrates to customers, the Vancouver-based company said. Force majeure is a legal status that companies invoke when they cannot make deliveries of a commodity because of forces outside of their control.
Asian shares erased early modest losses and pushed to a fresh record high, while the euro remained within sight of a 3-year peak on rising expectations that the European Central Bank could pare its monetary stimulus. European stock futures were flat, suggesting a more subdued opening for the region. DAX futures were up 0.1 percent, and FTSE futures and CAC each up 0.2 percent.
Canadian industries that would be most acutely impacted by the death of the North American Free Trade Agreement are unable to meaningfully plan for a possible post-NAFTA world given the uncertainty of what could replace it, analysts and executives said. With three quarters of Canadian exports landing in the United States, the terms of that trade are key to Canadian industries ranging from automotives to agriculture, energy and aluminum, as well as the railways and pipelines transporting their goods. "The problem with it is, even if they pull out of NAFTA what comes next and that's unclear," said David Tyerman, a transportation and industrials analyst at Cormark Securities.
Indonesia hopes to finalise contract talks with Freeport McMoRan Inc over the Grasberg copper mine by June, although divestment issues are still unresolved, a mining ministry official said on Thursday. Indonesia and Freeport formed a framework agreement in August to transfer the company's rights to Grasberg to a new mine license system from an existing contract of work.
Australia's Port Hedland iron ore terminal expects to clear all remaining vessels from its harbour by 1030 GMT as a safety measure after a tropical cyclone intensified off the nation's western coast on Thursday, Pilbara Ports Authority said.
Rio Tinto Group has dropped out of the bidding for a stake in Soc. Quimica & Minera de Chile SA, one of the world’s top lithium producers, as it pursues other ways to capitalize on the electric-car boom, ...