|Bid||60.31 x 900|
|Ask||61.85 x 1000|
|Day's Range||60.52 - 61.05|
|52 Week Range||47.88 - 64.02|
|Beta (5Y Monthly)||0.83|
|PE Ratio (TTM)||7.61|
|Forward Dividend & Yield||3.02 (5.11%)|
|Ex-Dividend Date||Aug 06, 2019|
|1y Target Est||56.40|
Rio Tinto chief executive J-S Jacques said "We finished the year with good momentum, particularly in our Pilbara iron ore operations and in bauxite, despite having experienced some operational challenges in 2019. We are increasing our investment, with $2.25 billion of high-return projects in iron ore and copper approved in the fourth quarter. We also boosted our exploration and evaluation expenditure to $624 million in 2019, further strengthening our pipeline of opportunities.
The Anglo-Australian group — along with rivals BHP and Brazil’s Vale — is generating bucket loads of cash from the continued strength of iron ore. For big producers such as Rio that can mine the material for as little as $15 a tonne, that means windfall profits — and sturdy dividends for investors. Deutsche Bank reckons Rio generated close to $10bn of free cash flow last year.
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like...
State-owned miner NMDC is poised to win a multibillion-dollar contract to explore and mine diamonds at a large project abandoned by global miner Rio Tinto, a leading local government official told Reuters. Madhya Pradesh has asked NMDC to explore the Bunder deposits, which could contain millions of carats of diamonds, Neeraj Mandloi, principal secretary at the state's Mineral Resource Department, told Reuters on Friday. The state government last month awarded a smaller portion of the deposit to Essel Mining & Industries, part of Indian conglomerate Aditya Birla Group, Mandloi said.
Rio Tinto has donated a further A$750,000 to the Red Cross’ disaster relief and recovery efforts that are supporting people affected by Australia’s bushfire crisis. It adds to the A$250,000 Rio Tinto donated to the Red Cross in November, bringing the company’s total donation to A$1 million.
(Bloomberg) -- Sign up to our Next Africa newsletter and follow Bloomberg Africa on TwitterRio Tinto Group is resuming operations at its South African mine that was shuttered earlier this month because of escalating violence in surrounding communities.The Richards Bay Minerals unit should be back at full operations in early January, leading to regular production in early 2020, Rio said in a statement Monday. The decision was taken after discussions led by the Premier of the KwaZulu-Natal province, aimed at securing stability.RBM employs about 5,000 staff and contractors, and exports titanium dioxide slag, used to create ingredients for products including paint, plastics, sunscreen and toothpaste.Read More: Violent Protests Shut Down Key Rio Tinto Mine in South AfricaRio said Dec. 4 it halted mining operations and temporarily suspended a $463 million expansion project following weeks of protests around the area where the mine is located and after an employee was shot and injured. The demonstrations weren’t related to the company, it said at the time.The company will review the restart of the Zulti South project after operations normalize.To contact the reporter on this story: Liezel Hill in Johannesburg at email@example.comTo contact the editors responsible for this story: Lynn Thomasson at firstname.lastname@example.org, John BowkerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Rio Tinto has today started the process of resuming operations at Richards Bay Minerals (RBM) in South Africa. This follows discussions led by the Premier of KwaZulu-Natal, Sihle Zikalala, involving all stakeholders focused on securing stability in order to address the issues in the community and provide the stable environment necessary for RBM to resume operations.
Water downstream of a Rio Tinto mine in southern Madagascar contains high concentrations of uranium and lead, potentially endangering local residents who depend on a nearby lake and river for drinking water, a study released on Friday found. Lead, when ingested, can impede the mental and physical development of children, while uranium can cause kidney damage. The study commissioned by southern Madagascar-focused British environmental charity The Andrew Lees Trust found that concentrations of uranium were 350 times higher downstream of the QIT-Madagascar Minerals (QMM) mine than upstream of it, and that lead concentrations were 9.8 times higher.
Rio Tinto is now offering independently certified, responsibly produced aluminium from its smelters in Australia and New Zealand that predominantly use hydro-powered electricity.
Wall Street is slowly getting more bullish on mining stocks. Large mining stocks Barron’s tracks are down more than 50% from all-time highs, but the sector has bounced back some in 2019, up about 14% on average. The reason for improved sentiment is linked to iron ore and copper, two key metals for global miners.
Rio Tinto notes the unanimous approval by the Mongolian Parliament of a Resolution that instructs the government to look for ways to improve the implementation of the Investment Agreement of 2009, the Amended & Restated Shareholder Agreement of 2011 and to improve the Underground Mine Development & Financing Plan of 2015.
How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]
(Bloomberg) -- Apple Inc. is taking delivery this month of the first batch of carbon-free aluminum produced by a Montreal-based venture, helping move the iPhone maker closer to its greenhouse-gas reduction goal.Elysis, a joint venture between Rio Tinto Group and Alcoa Corp. backed by Apple, uses new technology that emits pure oxygen when producing aluminum. Apple has said in an environment report that 80% of its emissions from an iPhone 8 came during the production phase. The metal is also used in iPads, Macs and Apple watches.“For more than 130 years, aluminum — a material common to so many products consumers use daily — has been produced the same way,” Lisa Jackson, vice president of environment, policy, and social initiatives at Apple, said in an emailed statement.Rio’s commercial network is handling the first delivery to Apple, a Rio spokesman said in an email.“This is another important step towards zero carbon aluminum and a more sustainable future,” said Alf Barrios, Rio Tinto Aluminium chief executive officer.The metal being shipped to Apple was produced at the Alcoa Technical Center in Pittsburgh.“This first sale is tangible evidence of our revolutionary work to transform and disrupt the conventional smelting process by making a process that is both more efficient and more sustainable,” Benjamin Kahrs, an Alcoa executive vice president and Chief Innovation Officer, said in a statement.\--With assistance from Mark Gurman and Steven Frank.To contact the reporter on this story: Joe Deaux in New York at email@example.comTo contact the editors responsible for this story: Luzi Ann Javier at firstname.lastname@example.org, Joe RichterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The metal is being made by Elysis, a Montreal-based joint venture of Alcoa Corp and Rio Tinto announced last year with $144 million in funding from the two companies, Apple and the governments of Canada and Quebec. The aluminum will be shipped this month from an Alcoa research facility in Pittsburgh and used in Apple products, although the technology company did not say which ones.
Alcoa Corp will need cheaper, more reliable power to keep its Portland smelter in Australia open beyond 2021 when its current supply deal ends, the aluminium major's partner said on Thursday. Alumina Ltd, Alcoa's partner in the Alcoa World Alumina and Chemical joint venture, would have a veto over any decision to shut the plant, its Chief Executive Mike Ferraro said, adding it was too early to predict the smelter's future. "We would ideally like to find a solution," Ferraro told reporters on the sidelines of a mining event in Melbourne.