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Fortescue sees Vale ore blending plan completed in near future

By: Bloomberg     Updated 1 hour 34 minutes ago Fortescue Metals Group Ltd. is optimistic its iron ore blending project with Brazil’s Vale SA, the world’s top iron ore exporter, may be completed soon as better demand in China supports a price rally this year. “We’ve completed a lot of laboratory test work and that has been very positive and we... 

Iron-ore’s rally seen endangered by UBS as supply stacks up

By: Bloomberg     26th July 2016 Iron-ore’s revival in 2016 has prompted mine restarts in Brazil, West Africa, Australia and China, adding to global supplies and potentially contributing to a weakening of prices into next year, according to UBS Group AG. “Supply that had left the market is returning,” analysts including Daniel... 

End of Australia’s iron-ore supply rush seen aiding prices

By: Bloomberg     21st July 2016 The largest iron-ore producers in Australia, the world’s No. 1 exporter, are raising supply at the slowest pace in years, drawing a line under more than a decade of expansions and lending potential support to prices that are rebounding this year. BHP Billiton, the third-largest shipper, said... 

Japan’s Komatsu to buy US Joy Global for $2.89bn

By: Bloomberg     21st July 2016 Komatsu, the world’s second-biggest mining and construction equipment maker, agreed to buy Joy Global for $2.89-billion, in a deal signaling the Japanese company is optimistic that a recent rebound in commodities prices will endure. Tokyo-based Komatsu will pay $28.30 a share in cash for the... 

Vale output expected to tease record levels despite dam disaster

By: Bloomberg     20th July 2016 Vale SA’s relentless expansion is expected to keep the world’s biggest iron-ore miner near record output levels despite the hobbling effects of last year’s Samarco dam burst on its Brazilian operations. The Rio de Janeiro-based miner will report second-quarter output of 86-million metric tons,... 

Diamond dream lives on against the odds under Canadian tundra

By: Bloomberg     12th July 2016 On the semi-frozen surface of Faraday Lake in Canada’s subarctic, two diamond rigs are drilling around the clock. It’s spring breakup north of the 63rd parallel, which means the Kennady Diamonds Inc. exploration team is running out of time. “It’s starting to candle,” says geologist Martina... 

Guinea says Rio bound to $20bn mine

By: Bloomberg     6th July 2016 Guinea said Rio Tinto Group must honour its commitment to develop the world’s largest untapped iron-ore deposit, after the company’s CEO signalled it may delay building the $20-billion mine and related infrastructure because of low prices. Guinea is counting on Rio and other investors, including... 

New Rio CEO skirts M&A to focus on own mines and beat slump

By: Bloomberg     4th July 2016 The new Rio Tinto Group chief’s approach to navigating the downturn in the mining industry is simple: Keep calm and carry on. That’s the mantra 44-year-old Jean-Sebastien Jacques plans to adopt after just taking over as chief executive officer of the world’s second-biggest mining company. Not... 

Rio Tinto commits to London head office after Brexit vote

By: Bloomberg     4th July 2016 Rio Tinto Group’s new chief executive officer pledged to keep the head office of the world’s second-biggest miner in London after Britain’s vote to leave the European Union raised fears businesses will flee. “No doubt whatsoever about it,”  Jean-Sebastien Jacques, a 44-year-old Frenchman who’s... 

Boom turned gloom puts Turnbull on back foot in mining heartland

By: Bloomberg     23rd June 2016 In the one-time engine room of Australia’s resources bonanza, Prime Minister Malcolm Turnbull’s election pledge of creating jobs and growth is ringing hollow for many voters. An economic downturn in Western Australia and claims the Liberal state government squandered the proceeds of the mining... 

Rio’s revamp hints at potential $9bn BHP-style spinoff

By: Bloomberg     22nd June 2016 Rio Tinto Group looks like it’s putting about $9-billion of unwanted assets from coal and uranium to Canadian iron-ore into a single basket ready to spin off, according to Sanford C. Bernstein. Incoming CEO Jean-Sebastien Jacques on Tuesday revamped the four key divisions of the world’s... 

Rio Tinto to buy back $1.7bn of 2018 bonds to reduce debt

By: Bloomberg     15th June 2016 Rio Tinto Group will repurchase about $1.7-billion of bonds, its second buyback in about two months, as it seeks to cut debt. The world’s second-largest mining company is buying back $943-million of 6.5% notes due in July 2018 and $804-million of 2.25 percent securities maturing in December the... 

Turquoise Hill climbs on speculation Rio may take it private

By: Bloomberg     14th June 2016 Turquoise Hill Resources Ltd. soared amid speculation that its controlling shareholder  Rio Tinto Group is preparing for a commodity-price recovery by increasing its stake in the company. Rio Tinto has hired Goldman Sachs Group Inc. to advise it as the world’s second-largest miner looks into the... 

Miners starved of M&A set to see deals revive following cutbacks

By: Bloomberg     9th June 2016 The metals and mining world might be about to see a resurgence in deal-making. Mergers and acquisitions in the sector reached a decade-low last year, accounting for 3% of transactions across all industries, Macquarie Group said. As long as commodities don’t plunge, weaker prices in the second... 

Despite iron-ore headwinds, Cliffs is back in the black

By: Henry Lazenby     30th July 2015 Global miner Cliffs Natural Resources has in the past 12 months managed a return to profitability despite the iron-ore price declining this month to its lowest level since at least 2009, as the largest producers, such as Rio Tinto and BHP Billiton, boosted output into an oversupplied market. For... 

Miners ‘covering their eyes’ as Chinese commodities demand is forecast to slump

By: Bloomberg     12th December 2014 After spending $1-trillion since 2002 on projects to feed China’s commodity boom, the world’s mining companies have a lot riding on their biggest customer. While commodities may be trading at five-year lows, the heads of three top miners – BHP Billiton, Vale and Rio Tinto Group – last week all... 

Iron-ore’s tumble seen continuing till end of 2015

By: Bloomberg     28th November 2014 With prices at a five-year low, only a handful of companies worldwide can make money selling iron-ore, according to UBS. Some Chinese mines have closed, while Western Desert Resources and London Mining have already failed. Pessimistic analysts expect the commodity to slide at least a further 14%... 

Talon Metals reports maiden resource at Tamarack project

By: Henry Lazenby     2nd September 2014 TSX-listed Talon Metals on Tuesday reported a maiden resource estimate for its Tamarack nickel/copper/platinum project, in Minnesota. British Virgin Islands-based Talon in June clinched an earn-in agreement with Kennecott Exploration, a subsidiary of Rio Tinto Group, to acquire a 30% interest in... 

Talon Metals appoints sulphide deposit specialist to board

By: Henry Lazenby     3rd July 2014 TSX-listed explorer and developer Talon Metals on Thursday reported that it had appointed internationally recognised sulphide mineralisation expert Dr Tony Naldrett to its board in preparation for forming a technical committee with new joint venture (JV) partner Kennecott Exploration to develop... 

Analyst sees Anglo either flourishing under Cutifani or being bought

By: Bloomberg     20th June 2014 Anglo American (Anglo) will either be successful at reorganising its platinum business and starting production at the Minas-Rio iron-ore mine in Brazil or be acquired, research company Sanford C Bernstein said. The metals producer is reviewing global assets to shore up earnings after CEO Mark... 

Coal seen slipping to 2010 low in Xstrata talks

By: Bloomberg     1st March 2013 Coal Seen Slipping to 2010 Low in Xstrata Talks: Energy Markets Xstrata, which sets prices for Australian thermal coal contracts, is poised to sell the fuel to Japan at the lowest level in three years amid speculation the nation’s imports will slow while Chinese purchases ease. 

Rio Tinto’s $3.9bn Mozambique coal bid may be scuppered by lack of rail, port capacity

By: Bloomberg     1st March 2013 Rio’s $3 Billion Mozambique Coal Bid Runs Off the Rails: Freight  Rio Tinto Group’s foray into Mozambique, which cost the world’s No. 2 mining company $3 billion, has highlighted a lack of rail and port capacity that threatens to check a coal boom in the southeast African nation. Rio bought coal... 

Rio Tinto targeting $5bn spending cuts, production boost

By: Bloomberg     7th December 2012 Rio Tinto Group, the world’s second-largest mining company, says it is targeting savings of $5-billion by the end of 2014, while simultaneously boosting production at its iron-ore, copper and alumina units. 

Company Announcement: Rio Tinto’s Pamela Naidoo inducted as President of the GSSA 

     11th July 2012 Rio Tinto’s South African country manager for Exploration, Pamela Naidoo has been inducted as the new president of the Geological Society of South Africa at its AGM on 5 July 

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