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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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