Tag: RIO

For big mining companies like Rio Tinto and BHP Billiton, the future lifeblood is a combination of their exploration and corporate work: finding things on their own, being approached by other companies with deals, or doing acquisitions.

Rio Tinto has signed a joint venture agreement with Chilean firm CODELCO for copper exploration in Chile.

Judging by the stockmarket treatment of Rio Tino and BHP shares yesterday, both are trading ex the proposed BHP takeover of around $US150 billion worth of paper.

Rio Tinto continued to impress the markets with its performance, hitting a record on its output.

According to the Sunday Express in Britain, Rio Tinto (RIO) is believed to be considering making a takeover bid for Canadian uranium explorer Xemplar Energy, which has discovered deposits in Namibia.

Save us from the cowboys in the Chinese business community.

Rio Tinto says it will lift this year's dividend 30% and spend $US3 billion on iron ore and diamond mines as it defends itself against the unwanted approach from BHP Billiton.

Rio Tinto Group is moving to mop up the rest of Alcan's issued capital after emerging with a 90.2% stake in its $US38.1 billion offer.

Not the most positive start to the 2007 earnings season with mining giant Rio Tinto revealing a disappointing 14.3% drop in first half net profit, thanks to higher cost pressures and lower returns from copper and coal.

Rio Tinto is probably looking at higher earnings after revealing that iron ore production rose to record levels to meet strong demand from steelmakers, especially in China.

Investors around the world have a lot to thank Rio Tinto for.

Rio Tinto has flagged that it is looking at selling some of its business units after it completed the $US38.1 ($44 billion) billion acquisition of Alcan.

Rio Tinto has made a $US38.1 billion ($A44.2 billion), $US101 per share cash offer for Canadian aluminium group, Alcan, in the biggest takeover yet seen in the worldwide resources industry.

Up one day, down the next, there’s nothing like the craziness of a stockmarket showing signs of overheating.

Just as China is driver for the boom, the only dampener is, surprisingly China.

Rio Tinto gave its British shareholders a very upbeat assessment of its outlook, especially in iron ore, copper and uranium, at last Friday’s Annual General Meeting for the plc company in London.

Rio Tinto remains confident that China’s seemingly insatiable demand for minerals and other commodities will continue.

A solid result from Rio Tinto Group, the world’s third-largest mining company with full-year profit rising 43 per cent to a record $US 7.44 billion (around $A9.6 billion)