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Rio Tinto sells part of Alcan Packaging for $1,95bn

By: Esmarie Swanepoel Diversified mining giant Rio Tinto on Tuesday reported that it had completed the sale of part of its Alcan Packaging business to Australia’s Amcor for $1,95-billion. The company sold the pharmaceuticals, global tobacco, food Europe and food Asia divisions. 

Arch Coal earnings tumble, hopeful on 2010 recovery

By: Liezel Hill Shares in NYSE-listed Arch Coal fell more than 10% on Friday, after the company reported a 98% drop in fourth quarter profit. Arch earned $1,5-million in the last three months of 2009, compared with $62,3-million a year earlier, which was below analyst forecasts, according to Reuters. 

Rio Tinto completes $349m Alcan Composites sale

By: Chanel de Bruyn Diversified miner Rio Tinto has completed the $349-million sale of its Alcan Composites business to Swiss textile and semiconductor machinery manufacturer Schweiter Technologies, it reported on Tuesday. Alcan Composites formed part of Rio Tinto’s Alcan Engineered Products division, which the... 

Rio Tinto expects $741m from US coal unit IPO, notes sale

By: Liezel Hill Diversified miner Rio Tinto will receive proceeds of at least $741-million from transactions related to the initial public offering (IPO) of its Cloud Peak Energy unit, which started trading on the New York Stock Exchange on Friday, the group said. Rio sold 30,6-million shares in Cloud Peak this... 

Arch Coal earnings beat expectations

By: Liezel Hill US coal miner Arch Coal on Friday reported third quarter net income of $25,2-million, down from $97,8-million a year earlier but better than analysts had predicted. Arch reported third-quarter coal sales of 29,1-million tons, lower than the 34,8-million tons it sold in the same period last year,... 

Mining group expands US coal reserves

Mining company Rio Tinto’s wholly-owned US subsidiary, Kennecott Energy, has expanded its Jacobs Ranch coal reserves in the Powder River Basin of Wyoming, US, following a successful bid of 70,6 cents per ton or $379,5-million for the North Jacobs Ranch tract. The North Jacobs Ranch tract... 

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