Tag: RIO

Resources giant Rio Tinto has used the recent market weakness to lift its stake in Canadian miner Ivanhoe Mines to the planned 49% level it agreed to with Ivanhoe several years ago.

The market had been looking for an interim profit of just over $US8 billion for the six months to June from Rio Tinto.

Rio Tinto is heading for sharp slowdown in first half profit growth after revealing bigger than expected falls in iron ore and coal production and exports in the three months to March.

Rio Tinto has just fallen short of effective control of Riversdale Mining.

A rather bullish outlook from major miner Rio Tinto in its 2010 review released yesterday helped the shares rebound nearly 2% in yesterday’s steadying market.

No wonder Rio Tinto shares perked up 30c right at the end of trading yesterday at around 4 pm.

Mining giant Rio Tinto is looking at a sharp jump in earnings for 2010 after a record year for its huge iron ore business which will allow it to offset a slight weakening in quarterly ore prices for the three months to December.

Rio Tinto shares hit a 25 month high yesterday and looking at the third quarter operations report it was easy to see why.

Rio Tinto continues to commit to significantly higher spending in Australia in the wake of the settlement of the federal election.

Rio Tinto isn’t too worried about the new federal Labor government, the Greens or the influence of the independents, judging by two moves revealed yesterday to spend over $1.2 billion over the next three to four years on expansion in iron ore and bauxite.

Rio Tinto has well and truly recovered from its self-inflicted near death experience in 2008-09 that saw it almost fall into Chinese hands.

A mixed bag of comment from Rio Tinto in its second quarter and first half production report issued yesterday.

Rio Tinto has moved to cement its control of Ivanhoe Mines of Canada and the huge Oyu Tolgoi copper and gold project in Mongolia.

Rio Tinto has stepped up its attacks against the proposed new Federal mining tax.

Australia’s major coal miners have found their supposed fears about the proposed resources profit tax no barrier to trying to increase their hold on the Queensland coal transport system.

Rio Tinto has slightly raised its production guidance for iron ore after posting a 39% jump in first-quarter output, thanks mostly to Chinese demand and recovery in other markets in Asia.

A year ago the 2008 annual report of Rio Tinto was full of qualified optimism, the Chinalco shareholding, commodity prices being low, and the uncertain outlook as the global recession and credit crunch battered confidence and the company. 

Rio Tinto, the world’s third- largest mining company, will spend $C245 million to increase its holding in Ivanhoe Mines Ltd., its partner in the Oyu Tolgoi project in Mongolia.

Rio Tinto’s 33% rise in 2009 earnings was well anticipated by the market.