Rio Tinto faces delays and up to $1.9bn added costs at copper mine July 16, 2019 Rio Tinto said today that costs from a Mongolian copper project could be up to $1.9bn more expensive than previous estimates. The Oyu Tolgoi copper mine, one of the miner’s key projects, flagged a bigger cost rise than analysts had expected, sending shares down by around half a per cent. Read more: Iron ore prices [...]
Sydney shares cheer Australia’s centre-right election triumph May 29, 2019 | City Talk Australian share prices are on a roll after the shock election victory earlier this month of the ruling Liberal-Nation coalition. The centre-right government returned to power in Canberra despite consistent opinion poll leads for the opposition Labor Party. The ASX 200 index, comprising the shares of the 200 largest companies listed on the Australian Stock [...]
Miners lift London Stock Exchange’s FTSE 100 as iron price hits record in China May 28, 2019 A rising iron ore price pushed up London-listed miners today, helping lift the FTSE 100. Rio Tinto rose 3.3 per cent by the early afternoon, while Fresnillo was up 2.8 per cent, putting both in the top five blue-chip risers. Read more: Charged: Chinese giant takes £14m stake in London lithium miner Bacanora It comes [...]
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 [...]