Rio Hits 11-Year High As Iron Ore Rally Continues Apace
Rio Tinto shares hit an 11 year closing high of $105.30 yesterday as world iron ore prices crashed through $US108 a tonne (More than $A156 a tonne).
Read MoreRio Tinto shares hit an 11 year closing high of $105.30 yesterday as world iron ore prices crashed through $US108 a tonne (More than $A156 a tonne).
Read MoreIron ore prices have jumped above $US97 a tonne – the highest price in four years as demand from Chinese mills continues and traders ignore the trade war escalation between the US and China.
Read MoreAustralian iron ore giants, Rio Tinto and BHP have moved to the top of the global pecking order thanks to the problems besetting its Brazilian rival, Vale.
Read MoreA series of fires and the impact of Cyclone Veronica has seen Rio Tinto cut its full-year iron ore shipment guidance after its output slumped 14% in the March quarter.
Read MoreAhead of the release of its March quarter production and sales report later today, Rio Tinto has revealed its second major spending plan in a week.
Read MoreWhen Rio Tinto (ASX:RIO) finally broke cover in February on its Winu copper-gold discovery in WA’s Paterson province, it made clear that drilling had yet to close off the mineralisation beneath the region’s sand dunes.
Read MoreAs Scott Morrison and Josh Frydenberg were banking the 22% plus surge in global iron ore prices so far this year in last night’s Federal budget, it seems the shortfall in exports will be much larger than thought last week because of the growing impact of Cyclone Veronica on the Pilbara at the end of March.
Read MoreRio Tinto is facing the loss of up to 14 million tonnes of iron ore exports – worth around $US1.2 billion or $A1.7 billion in lost revenue – in 2019 from the combination of a fire at its Cape Lambert export port in January that was compounded by the impact of Cyclone Veronica late last month.
Read MoreWorld iron ore prices are poised to make a run back over $US90 a tonne after more doubt was cast on the level of Vale’s 2019 production while Rio Tinto has declared force majeure on some exports.
Read MoreExpect even more pressure on global iron ore supplies and prices after Vale was forced to shut two more iron ore mines in southern Brazil.
Read MoreVale management is in turmoil after the CEO of the world’s biggest iron ore miner stepped aside following pressure from Brazilian authorities over the Minas Gerais dam collapse.
Read MoreIt’s been worth the wait to finally hear from Rio Tinto (ASX:RIO) as to what it is on to at its Winu (named after an old soak from an aboriginal word meaning thirsty) copper-gold-silver discovery in Western Australia’s Paterson province.
Read More2018 earnings were in line with Deutsche Bank’s estimates. The broker observes the company’s preference now appears to have switched to dividends as opposed to buybacks, with the first special dividend declared since 2006.
Read MoreRio Tinto has handed shareholders a second round of goodies to go with the massive interim payout and capital return.
Read MoreRio Tinto last night finally admitted that it has been working on a massive copper-gold-silver find in the Patterson area of the East Pilbara in Western Australia. There have been rumours of Rio’s discovery now for much of the past year.
Read MoreShares in BHP, Rio Tinto, and Fortescue Metals group should continue running higher today with global iron ore prices hitting two-year highs in Asian trading yesterday after Chinese buyers returned to the market after last week’s holiday break.
Read MoreWith stocks of iron ore at ports and mills low after the holidays, Chinese buyers will chase spot ore cargoes from today and could push the already high price of standard 62% ore past $US100 a tonne.
Read MoreAustralia will be the beneficiary of the terrible mining dam disaster in Brazil which has killed more than 80 people with upwards of 300 missing. In fact, it would be true to say there is a silver lining for Australia in Brazil’s pain – a surge in iron ore prices that will, in turn, boost export receipts and government tax revenues.
Read MoreGlobal iron ore prices and the share prices of Australia’s biggest iron ore exporters will jump as Vale, the big Brazilian exporter takes 10 of its mines and their 40 million tonnes of ore offline while it replaces potentially dangerous tailings dams.
Read MoreRio Tinto is confident the buoyancy of the Chinese iron ore market won’t end soon as it forecasts a small rise in its 2019 export forecast in the wake of a small rise in its 2018 performance.
Read MoreA special thanks to Rio Tinto’s iron ore boss Chris Salisbury for providing a much-needed laugh for the exploration industry in what has been a tough year.
Read MoreThe mini-boom in the iron ore industry has topped the $9 billion mark after Rio Tinto approved a $US2.6 billion (A$3.5 billion) investment in its new Koodaideri iron ore mine.
Read MoreHas a massive new gold/copper discovery been made in the Eastern Pilbara region of WA, along with suggestions of a separate copper find by one of the world’s biggest miners?
Read MoreSo much for Rio Tinto’s proposed $US1.3 billion sale of its stake in the huge Simandou iron ore prospect in the African country of Guinea – it has lapsed because Rio and the Chinese buyer couldn’t agree on terms.
Read MoreRio Tinto’s hush-hush copper discovery in WA’s remote North Paterson region is to get its own airstrip.
Read MoreRio Tinto has maintained its target to ship at the upper end of the guidance range of 330 to 340 million tonnes for the 2018 year to December 31, despite reporting a 5% slide in exports for the three months to September.
Read MoreWell, that’s it for capital management deals helping shareholders in Rio after the miner finally sold its stake in the huge Grasberg copper mine and will keep the money for itself.
Read MoreRio Tinto says it will return $US3.2 billion ($4.4 billion) to shareholders from the cash raised in the recent sale of coal assets via a share buyback.
Read MoreA glance through the latest expert views and predictions about commodities. Steel; mining & franking; diversified majors; thermal coal; and Nickel Mines.
Read MoreA glance through the latest expert views and predictions about commodities. Base metals; platinum; steel/iron ore; and major miners.
Read MoreShares in global miner Rio Tinto were sold off yesterday in the wake of the interim result as brokers reckoned the record dividend, buyback (with more to come) wasn’t enough.
Read MoreRio Tinto is on track for another record dividend in 2018 after its board approved the largest half year payout in the company’s history.
Read MoreBoom times for the world’s major iron ore miners.
Read MoreWhile Rio is yet to confirm the discovery in what is Lawrence of Arabia-type country, latest satellite imagery suggests it is indeed on to something that just might shape up as special.
Read MoreA godsend for Rio Tinto as it looks ready to shed one of its most troublesome assets?
Read MoreRio Tinto off the hook, jobs saved in Gladstone in central Queensland?
Read MoreRio Tinto has become the world’s biggest iron ore miner, overtaking Brazil’s Vale in the three months to March to grab bragging rights, even if it’s going to be a brief reign as top miner.
Read MoreGlobal aluminium and alumina prices soared to six year highs on Friday as the impact of the sanctions on the big Russian controlled aluminium producer, Rusal continued to rattle global markets. That has seen Rio Tinto forced to join Glencore in being forced to declare force majeure on deals it has with Rusal.
Read MoreRio Tinto completed its exit from coal with the sale of its Kestrel underground coking coal mine in Queensland for a better than expected $US2.25 billion. The buyers are a private equity company called EMR Capital and an Indonesian miner, PT Adaro Energy Tbk (Adaro).
Read MoreRio Tinto has sold its Hail Creek coking coal mine in Queensland to Glencore for $US1.7 billion, expanding Glencore’s control over Australian coal exports.
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