Iron ore prices hit five-year high after Vale warns of second dam burst May 17, 2019 Iron ore prices have hit a five year high today after the world’s biggest producer, Vale, revealed trouble at one of its sites. Late yesterday Vale said a mining waste dam was on the brink of collapse, just months after one of its dams collapsed, killing hundreds. Read more: Another Vale dam could collapse next [...]
BHP bets on batteries as it decides to keep its Australian nickel mine May 14, 2019 London-listed miner BHP has said it wants to keep its Australian nickel mine as the industry starts betting on a battery-powered future. Chief executive Andrew Mackenzie today said the company would hold on to the Nickel West mine which it has tried to sell several times. Read more: BHP Billiton faces $5bn claim for failure [...]
Rio Tinto downgrades iron ore forecasts after storms batter Western Australia April 16, 2019 London-listed miner Rio Tinto has downgraded its iron ore guidance after a tropical cyclone battered Australian ports. Shipments of iron ore from the Pilbara region of Western Australia fell 14 per cent year-on-year in the first quarter of 2019 to 69.1m tonnes. Read more: Rio Tinto invests $302m in US copper project Meanwhile, they were [...]
Rio Tinto invests $302m in US copper project as technological progress drives up demand April 15, 2019 Rio Tinto has said it plans to sink another $302m (£230m) in a US copper project which will be able to supply nearly a quarter of the country’s demand. The investment brings the total spent by Rio Tinto and its partners on the Resolution Copper project in Arizona up to more than $2bn. Read more: [...]
UK dividends jump to first quarter record due to huge one-off payouts April 15, 2019 UK dividends hit record highs in the first three months of the year thanks to huge one-off special payouts from some companies, new analysis has shown. Read more: Ranked: The best-performing assets of 2019 so far Yet underlying growth was weaker than expected from larger and smaller companies alike as a slowing global economy acted [...]
Rio Tinto subsidiary throws $500m at new mine to keep production flowing April 8, 2019 Rio Tinto and its partners will sink $463m (£354m) into a South African mine in an attempt to keep up production levels in the country. The London-listed miner said today that it will contribute $343m to Richards Bay Minerals (RBM) to back up its 74 per cent stake in the venture. Read more: Analyst downgrades [...]
London miners dominate market rise after iron giant Vale cuts output March 18, 2019 London’s miners dragged the stock exchange upwards this morning after Brazilian iron giant Vale announced another output cut over the weekend. The company, which is in crisis after one of its dams burst leaving over 300 people dead or missing, said a court had ordered it to stop operating the Timbopeba mine in Minas Gerais [...]
Two analyst downgrades take big chunk out of Rio Tinto shares as iron prices set to drop March 7, 2019 Rio Tinto weighed on the London exchange today after the miner was hit by two analyst downgrades in two days, wiping around £4bn off its market value. Shares dropped around 7.6 per cent in the mid afternoon to 4,137p as Societe Generale advised investors to sell their shares in the iron miner. Read more: Iron ore [...]
Mining giant Rio Tinto rewards investors with $4bn special dividend after better-than-expected results for 2018 February 27, 2019 Rio Tinto announced a $4bn (£3bn) special dividend to shareholders yesterday in the light of positive results for 2018, which were ahead of market expectations. The news brings Rio’s total shareholder payout for 2018 to a record $13.5bn. Underlying profits rose two per cent year on year to $8.8bn. The Anglo-Australian mining giant also announced [...]
How will the EU act after Brexit? February 21, 2019 | City Talk Britain's planned departure from the EU exposes many issues. A key one is the economic path the UK will choose. Less commonly asked is what will the rest of the EU do. Perhaps this should figure more in the debate. Last year, President Macron suggested the EU move towards a core, built on closer political [...]