Rio Tinto – Page 3

Global Mining: Despite slumping prices, Rio Tinto digs up more iron ore

Posted on January 21, 2015January 21, 2015 by Mozambique Resources Post

The world’s second largest iron ore miner, is targeting a 18% output increase from its Australian mines this year, adding to a mounting global glut that has driven down prices of the commodity to their lowest level since 2009. The company, the first of the large mining groups to report its annual output this year, logged Tuesday an 11% rise in full-year production of iron ore to 295.4 million metric tons, slightly ahead of its target…

Global Mining: Morgan Stanley says “the worst is over” for iron ore

Posted on January 2, 2015January 2, 2015 by Mozambique Resources Post

Iron ore is positioned to reach its biggest annual fall in prices over the past five years, as production of large mining exceeds the growth of China’s demand. According to Tom Price, analyst at Morgan Stanley in London, “the worst is probably over” for the commodity in terms of price drop.

Global Mining Markets: Australia, Brazil to control 90% of global iron ore trade by 2020

Posted on December 11, 2014 by Mozambique Resources Post

Australia and Brazil, the two largest iron ore producing countries, are forecast to increase their combined share of global seaborne supply to 90% by 2020 as mining giants VALE (NYSE:VALE) and Rio Tinto (LON:RIO) continue to boost output and push higher-cost miners out of the market, research shows. The two countries are expected to rise their joint share from 73% last year to 79% in 2015, Macquarie Group Ltd notes in a commodities report sent…

Global Mining: Rio Tinto cuts spending, defers capex, keeps dividend

Posted on December 4, 2014December 4, 2014 by Mozambique Resources Post

Mining giant Rio Tinto Rio Tinto (LON, ASX:RIO) said Friday the severe slide in iron ore prices, one of the main commodities it mines, won’t affect long-time promised returns to shareholders next year, as it will keep lifting dividends.

Merger & Acquisitions: “Glencore-Rio merger will happen,” hedge funds told

Posted on November 27, 2014November 27, 2014 by Mozambique Resources Post

“What Ivan buys next” has been a favourite mining sector parlour game even before the Swiss firm went public in 2011 making CEO Ivan Glasenberg one of the richest people in the world. There is no shortage of possible takeover targets for Glencore, with a market value of $70 billion and an outperforming share price.

Global Exploration & Production: Iron Ore Expansion Era ended, says BHP CEO

Posted on November 20, 2014 by Mozambique Resources Post

The era of large investments in iron ore was history, according to Andrew Mackenzie, CEO of the world’s largest miner, BHP Billiton. The statement was made in a context of large investments coming from BHP itself and its main competitors, Vale and Rio Tinto to increase production capacity of its mines.(By Infomine)

Mozambique Mining Logistics: India’s ICVL to invest $500m in local infrastructure

Posted on October 31, 2014 by Mozambique Resources Post

India’s International Coal Ventures Limited (ICVL) will invest $500-million to build infrastructure and logistics to support mining at its newly acquired coal blocks in Mozambique. The investments would be made over the next two to three years, as ICVL’s coal blocks would need supporting infrastructure for optimal mining production, including a 500 km railway network connecting pitheads to ports and roads for evacuation of production from the mines, a senior company official said.

Rio Tinto & BHP Billiton: The Battle of the Mining Titans

Posted on October 23, 2014 by Mozambique Resources Post

Rio Tinto and BHP Billiton have been in the news lately following both companies’ large increases in production.Not all of the feedback has been positive, with Western Australia’s Premier Colin Barnett accusing the mining giants of working in tandem to increase their production with the aim of pushing out smaller miners who have much larger production costs.

Rio Tinto Mozambique coal mines: Officially Sold Out

Posted on October 9, 2014 by Mozambique Resources Post

Anglo-Australian group Rio Tinto has completed the sale of its coal assets in Mozambique to Indian consortium International Coal Ventures Private Limited, the group said in a statement Wednesday.

Companies & Mergers: “Bruised Rio Tinto rebuffs Glencore takeover approach,” Reuters

Posted on October 7, 2014 by Mozambique Resources Post

Rio Tinto has rejected a takeover approach from smaller rival Glencore Plc, snubbing a blockbuster deal that would have created a $160 billion mining and commodities trading giant. The company said on Tuesday that Glencore contacted it about a potential merger in July as the price of Rio’s most profitable product, iron ore, was heading toward five-year lows.

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