|Bid||116.00 x 67500|
|Ask||112.52 x 400|
|Day's Range||114.93 - 116.15|
|52 Week Range||80.10 - 130.30|
|Beta (5Y Monthly)||0.59|
|PE Ratio (TTM)||19.26|
|Earnings Date||Feb 17, 2021|
|Forward Dividend & Yield||6.14 (5.32%)|
|Ex-Dividend Date||Mar 04, 2021|
|1y Target Est||60.42|
Rio Tinto has entered into a binding Heads of Agreement (HoA) with Turquoise Hill Resources (TRQ) for an updated funding plan (the "Funding Plan") for the completion of the Oyu Tolgoi (OT) Underground Project in Mongolia. The Funding Plan addresses the estimated remaining known funding requirement of approximately $2.3 billion1, building on and replacing the arrangements established in the Memorandum of Understanding that Rio Tinto and TRQ previously entered into on 9 September, 2020.
Rio Tinto Ltd said on Friday it has reached a binding agreement with Turquoise Hill Resources Ltd over funding for expansion of the massive Oyu Tolgoi copper-gold mine in Mongolia. Rio and Turquoise Hill will restructure debt payments of up to $1.4 billion with lenders and look to raise up to $500 million in supplemental debt under existing financing arrangements. "It's just been such a troublesome asset, at least this takes away one of the issues - you have still got the issues with the government and the technical issues," said Andy Forster, portfolio manager at Argo Investments in Sydney.
High-profile Rio Tinto shareholders have voted against the miner’s remuneration report, which handed former chief executive Jean-Sébastien Jacques a pay rise despite the destruction of a sacred Aboriginal site on his watch. The move by Norway’s $1.3tn oil fund and the UK’s Local Authority Pension Fund Forum, which manages about £300bn in assets, came at Rio’s annual shareholder meeting in London on Friday. Jacques was forced to stand down in September following an outcry over the blasting of the 46,000-year-old Juukan Gorge site in May 2020.