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Rio Tinto not expected to relinquish interest in Freeport Indonesia until 2022 – govt official

By: Reuters     15th December 2017 Rio Tinto is not expected until 2022 to relinquish its interest in the giant Grasberg copper mine in Indonesia operated by the local unit of Freeport McMoRan, a government official said on Friday. "In 2022 it will automatically convert to a shareholding," the official said, referring to Rio's... 

NEW RIO CHAIR

By: Martin Creamer     15th December 2017 Former Anglo American executive director Simon Thompson, 58, has been appointed chairperson of diversified mining company Rio Tinto, where he has served as a director since 2014. Thompson will from March 5 succeed South African-born Jan du Plessis, who held the post since 2009. The outgoing... 

Steel tycoon considers bid for Rio Tinto's Dunkirk aluminum smelter - sources

By: Reuters     14th December 2017 Liberty House, the industrial and commodities group buying a number of steel assets around the world, is considering a bid for Rio Tinto's aluminium smelter in northern France, the largest in Europe, three sources with direct knowledge of the matter told Reuters. The Dunkirk plant, which the... 

France-based miner AMR starts bauxite production in Guinea

By: Reuters     13th December 2017 Paris-based miner AMR began production at its Guinean bauxite mine on Tuesday, aiming to produce between 6 million and 10 million tonnes a year of the aluminium ore, the company said. Alliance Miniere Responsable (AMR) was founded by two French businessmen, and major shareholders include former... 

Glencore’s Lady Loretta restart adding to regional jobs prospects

By: Mariaan Webb     13th December 2017 News that diversified miner Glencore is restarting its Lady Loretta zinc mine in north-west Queensland is adding to a regional jobs story, with 250 people to find employment as a result of the miner’s decision to resume phased production next year. “What we are seeing right across commodities is... 

Strong hiring prospects for Australia’s mining sector

By: Mariaan Webb     12th December 2017 Hiring prospects in the Australian mining and construction sector have improved considerably, with the outlook for January to March being the strongest in more than six years. According to the latest ManpowerGroup’s Australian Employment Outlook survey, which canvassed 1 503 employers, the net... 

More than 100 jobs on offer at Rio Tinto’s Weipa mines

By: Creamer Media Reporter      12th December 2017 Diversified miner Rio Tinto has launched a recruitment drive for more than 100 new roles at its bauxite mines on the western Cape York Peninsula in Queensland. The opportunities are available across Rio Tinto’s operations at Weipa including existing mines at Andoom and East Weipa and the new... 

Forecast price drop influenced by Chinese economic refocusing

By: Megan van Wyngaardt     8th December 2017 Maintaining its iron-ore price forecast at an average of $70/t for the year and $50/t for 2018, research firm BMI says its predicted price drop is influenced by China’s economic refocusing away from heavy industry. “This will dampen demand for iron-ore,” the firm says, adding that, when combined... 

Global iron-ore growth to be modest

     8th December 2017 Global iron-ore production will grow modestly, with mine restarts and expansions predicted in Brazil and India, boosting production, predicts international market research firm BMI Research. However, output growth in China will decline on the back of falling ore grades and high production costs,... 

Glencore bets big on car battery metals

By: Reuters     5th December 2017 Glencore has increased production of the metals used to make electric car batteries faster than its major mining rivals, according to an industry-wide analysis that shows the scale of a strategy that has big prospective risks and rewards. The Anglo-Swiss company's output of cobalt and copper... 

Indonesia plans to acquire Rio Tinto interest in Freeport Indonesia mine

By: Reuters     5th December 2017 Indonesia plans to acquire Rio Tinto's 40% participating stake in the Grasberg copper mine operated by the local division of Freeport-McMoRan, part of government plans to control more of the country's resources. Under a joint venture formed in 1996, Rio has a 40% interest in Freeport's Grasberg... 

Iron-ore enters bull market as China's curbs supercharge steel

By: Bloomberg     4th December 2017 Iron-ore has rallied back into a bull market. Prices are surging as China’s crackdown on steel output this winter runs down inventories, helping mills’ profitability and stoking demand for high-grade ore even as investors discount signs of ample supply. Spot ore with 62% iron content jumped 3.7%... 

Rio Tinto aims for 'intelligent' Australian iron-ore mine

By: Reuters     4th December 2017 Rio Tinto next year will seek board approval to develop an "intelligent" iron ore mine at a cost of $2.2-billion, fully incorporating technologies such as robotics and driverless trains and trucks on a single site, the company's head of iron-ore said on Monday. A feasibility study was underway... 

Bowen Coking Coal buys ‘small, but strategic’ Isaac River project

By: Mariaan Webb     4th December 2017 Queensland explorer Bowen Coking Coal has acquired a “small, but strategic” project, which positions the company among several large producing mines with well-established infrastructure. The ASX-listed company announced on Monday that it had entered into an asset sale agreement with Aquila Coal... 

Rio picks Thompson for chairperson as investors target discipline

By: Bloomberg     4th December 2017 Rio Tinto named industry veteran Simon Thompson as chairman after shareholders rejected a plan to install a renowned dealmaker -- reinforcing an industry-wide investor drive for higher returns and caution over project spending. Thompson, 58, a Rio director since 2014 and previously an executive... 

Australian industry prepares for possible summer power cuts

By: Reuters     30th November 2017 Some of Australia's biggest power users, including mining giant BHP, are taking steps to curb the impact of any repeat of crippling blackouts that hit last summer, worried about a grid that increasingly relies on wind power and old coal-fired plants. Their back-up strategies come despite... 

BHP, Goldman hunt for energy fix amid remote banana plantations

By: Bloomberg     27th November 2017 The world’s biggest miner and Wall Street’s top-ranked merger firm are among the high-profile backers of a remote solar project nestled among banana crops in Australia’s far tropical northeast. For BHP Billiton, it’s a chance to unlock renewable technology for the global mining sector. As... 

Charter focuses on jobs, economic and social benefits for the Pilbara

By: Creamer Media Reporter      26th November 2017 The Western Australian resources industry has committed to work with the state government to provide increased social and economic benefits to communities in the Pilbara. The Pilbara Collaboration Charter was signed on Friday by Premier Mark McGowan, Chamber of Minerals and Energy (CME) Reg... 

Rio Tinto and Sinosteel extend iron-ore mining JV

By: Mariaan Webb     24th November 2017 Diversified mining group Rio Tino and its long-time joint venture (JV) partner, Sinosteel, have agreed to further extend their Channar iron-ore mining JV. The third extension will see an additional 10-million tonnes of iron-ore delivered into the JV from Western Australia. 

Chile lithium miner SQM says legal dispute could linger through 2018

By: Reuters     23rd November 2017 Chilean lithium and fertiliser producer Sociedad Quimica Y Minera (SQM) said on Thursday its ongoing legal dispute with Chilean authorities over royalty payments may not be resolved until the end of 2018. Talks to resolve the arbitration between SQM and Chilean government development agency... 

Rio Tinto, China's private equity prepare to bid for lithium producer SQM

By: Reuters     21st November 2017 Rio Tinto, Canada's Wealth Minerals and Chinese private equity firm GSR Capital are considering a bid for a stake in Chilean lithium producer SQM (Sociedad Quimica Y Minera), banking sources told Reuters. Canada's Potash Corp of Saskatchewan must divest its 32% stake in the Chilean company as... 

Rio Tinto's US copper smelter restarts, force majeure remains

By: Reuters     21st November 2017 Global miner Rio Tinto restarted the smelter at its large Kennecott mine in the United States last Friday after a nearly six-week outage but force majeure on refined copper has not yet been lifted, a company spokesman said on Monday. There was no timeline for when the force majeure would be... 

Geomysore’s Jonnagiri has potential to be India’s first private gold mine

By: Mariaan Webb     16th November 2017 Gold firm Geomysore Services India, in which Aim-listed Lionsgold has a 21.15% shareholding, has completed a feasibility study for the Jonnagiri gold project, demonstrating the project’s potential to be developed into India’s first privately-owned gold mine. The Jonnagiri project, in the state of... 

Forecast iron-ore price drop influenced by Chinese economic refocusing

By: Megan van Wyngaardt     15th November 2017 Maintaining its iron-ore price forecast at an average of $70/t for the year and $50/t for 2018, research firm BMI says its predicted price drop is influenced by China’s economic refocusing away from heavy industry. “This will dampen demand for iron-ore,” said the firm on Wednesday, adding that,... 

Rio completes off-market buy-back

By: Esmarie Swanepoel     13th November 2017 Diversified giant Rio Tinto has completed a A$750-million off-market buy-back, with all shares purchased to be cancelled. The miner in September initiated the buy-back, which was increased from an indicative A$700-million, as part of its $2.5-billion share buy-back programme, returning the... 

Announcing noteworthy diamond finds keeps market interest high – Paragon International

By: Henry Lazenby     10th November 2017 A review of 61 diamond finds over the past five years, which were significant enough to warrant press releases by the companies that mined them, shows that announcing the diamond finds publicly keeps market interest high, said diamond investment specialist Paragon International Wealth Management... 

Former Rio Tinto exec joins Lionsgold as consultant

By: Mariaan Webb     8th November 2017 Aim-quoted Lionsgold has recruited former Rio Tinto executive Alan Davies as a part-time consultant, the company announced on Wednesday, as it unveiled that its global digital currency, Goldbloc, would be launched in the in the Indian market next year. Davies, who was formerly the CEO of Rio... 

Phoenix Global embarks on ambitious plan to restart Empire copper mine, Idaho

By: Henry Lazenby     8th November 2017 Aim-listed copper junior Phoenix Global Mining has formulated an ambitious growth strategy to restart mining at the brownfields Empire copper mine, in Idaho, by 2020. The company made its debut on the LSE's Aim market late in June, with the aim of bringing the historic mine back into production,... 

Moz coal assets come back to haunt former Rio Tinto CEO, CFO

By: Esmarie Swanepoel     18th October 2017 The US Securities and Exchange Commission (SEC) has laid charges of fraud against diversified miner Rio Tinto and its former CEO Tom Albanese and CFO Guy Elliott. The SEC in a statement this week said that the company and the former two executives had inflated the value of Mozambique coal... 

Rio Tinto produces more iron-ore and coal, but cuts copper guidance

By: Esmarie Swanepoel     17th October 2017 Diversified major Rio Tinto has reported increased production across its iron-ore and coal assets, but has adjusted its copper output expectations for the full year on the back of delays at the Escondida operation. “The business performed very well in the September quarter, with a strong... 

CoAL settles major liabilities, transitions into coal producer in 'extremely positive year'

By: Mia Breytenbach     13th October 2017 Following an “extremely positive and transformational year” in which South Africa-focused Coal of Africa Limited (CoAL) achieved significant milestones, such as settling significant liabilities and transitioning into a coal producer with the acquisition of the cash-generative Uitkomst colliery,... 

‘Material, newsworthy’ diamond finds on the rise – analyst

By: Henry Lazenby     3rd October 2017 There has been a marked increase in the number of publicly reported special diamond finds in recent years, with 61 of 66 press-released diamond finds in the last nine years taking place in the last five years, noted independent diamond industry analyst and consultant Paul Zimnisky in a new report... 

Rio completes first fully autonomous haul

By: Esmarie Swanepoel     2nd October 2017 Mining major Rio Tinto has successfully completed the first fully autonomous rail journey at its Pilbara iron-ore operations. The miner on Monday said that the nearly 100-km pilot run was completed without a driver on board, making it the first fully autonomous heavy haul train journey ever... 

CoAL seeks greater self-sufficiency after transformational FY17

By: Mia Breytenbach     29th September 2017 Following an “extremely positive and transformational year” in which South Africa-focused Coal of Africa Limited (CoAL) achieved significant milestones, such as the settlement of significant liabilities and transitioning into a coal producer with the acquisition of the cash-generative Uitkomst... 

Rio launches $2.5bn share buy-back

By: Esmarie Swanepoel     22nd September 2017 Diversified major Rio Tinto will spend an additional $2.5-billion on its ongoing share buy-back programme, funded by the recent sale of its Coal & Allied subsidiary to ASX-listed Yancoal. The capital return programme will be executed through a combination of an off-market buy-back tender,... 

Giant miner vies with Google, GE, for hires amid automation push

By: Bloomberg     22nd September 2017 Rio Tinto, the world’s second-largest mining company, is focused as much on driver-less trucks and automated drills as conventional shovels and loaders these days. That means it needs a whole lot more high-tech workers. The London-based company is stepping up efforts to lure engineers and... 

South32 adds to board

By: Esmarie Swanepoel     22nd September 2017 Diversified miner South32 has made two additions to its board of directors, with the appointment of Dr Xiaoling Liu and Karen Wood as independent nonexecutive directors. Xiaoling will join the South32 board on January 15, and will seek election at the company’s next annual general meeting,... 

ENERGY STAND-OFF

By: Martin Creamer     22nd September 2017 Rio Tinto chief executive Jean-Sebastien Jacques, above, is seen during the Minerals Council of Australia (MCA) conference at Parliament House in Canberra, where he chided the Australian government for allowing the country to become one of the most expensively priced energy countries. He warned... 

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