Rio Tinto Mining News

Buybacks and bumper profits on the cards as mining giants report

Big mining has remained stubbornly focused on shareholder returns, rather than spending on acquisitions and big-ticket projects.

Bougainville’s $58B gold-copper mine rights safe for now as Mining Act changes rejected

The autonomous Papua New Guinea region of Bougainville has rejected controversial changes to its mining law.

Inside the global iron ore crisis: What's next in four charts

Iron ore’s dramatic rally will raise costs for steelmakers, potentially crimping their profit margins, unless they are able to pass on the additional burden to customers.

Guinea not flexible on Simandou infrastructure – minister

Simandou is one of the world's biggest iron deposits, containing billions of tonnes of high-grade ore, but development has been complicated by its location far from the coast.

Africa Mining Indaba: Dam safety, Zambia taxes, Ford on cobalt

Executives, investors and government officials met in Cape Town at the African Mining Indaba, the continent’s biggest gathering of one of its most essential industries.

Rio Tinto to remain strong despite difficulties—report

A key asset is the Oyu Tolgoi copper project in Mongolia, which will partially diversify the miner's earnings away from iron ore.

Miners BHP, Rio urge permanent voice for First Nations in Australia's parliament

"A First Nations' voice to parliament is a meaningful step towards reconciliation," BHP Chief Executive Officer Andrew Mackenzie said.

Iron ore prices are flying

Vale production cuts could have "outsized" impact in shorter term with spot prices predicted to return to $100-plus per tonne in summer.

Mongolia, overseas investigators probe Oyu Tolgoi corruption claims as ex-minister re-arrested

An investigation is ongoing into suspected abuse of power - that former finance minister Bayartsogt held shares in a foreign company before the Oyu Tolgoi investment agreement.

US copper projects gain steam thanks to electric vehicle trend

Industry analysts recommend investors buy shares of companies building new U.S. copper mines, a marked change from just 12 months ago when most recommendations were to hold.

Miners try to move away from fossil fuels — report

A research report by Wood Mackenzie states that electrification and automation will be a key priority for global mining companies.

Rio Tinto 2018 iron ore shipments rise 2%, copper output jumps 33%

Rio's 2018 iron ore shipments from Australia's Pilbara region totaled 338.2 million tonnes, compared to 330.1 million tonnes the year before.

Mining’s biggest jobs are up for grabs. Here are the contenders

Some of the mining world’s top executives are starting to plan their departures.

Rio Tinto calls force majeure on some iron ore shipments after fire in Australia

Rio Tinto is assessing the full impact of the damage and will do all it can to try and minimize disruption to our customers.

Ranger uranium mine closure to cost over $200m more than expected

The clean-up is now predicted to cost A$808 million — A$296 million (about $213m) more than ERA's initial A$512-million estimate.

Fire batters Rio Tinto's Cape Lambert iron ore export terminal

The port is one of two terminals Rio Tinto uses to ship iron ore from Australia's Pilbara mining region.

Exports from world's second-largest copper mine to drop 85%

Concentrate shipments from Indonesia's Grasberg mine, will drop because of a lag in output while operations shift from open pit to underground mining.

Rio plans to delay ex-CEO's bonus again amid Guinea probe

Rio said it would postpone any short- and long-term incentives owed to Sam Walsh for a minimum of two years. Rio is now planning to extend that time period.

Tropical cyclone hits far North Australia near Rio Tinto mine

Tropical Cyclone Penny slammed into the far north coast near Rio Tinto Group’s Weipa bauxite mine, triggering warnings of flash flooding and damaging winds.

Rio Tinto, Mongolia sign power deal for Oyu Tolgoi copper mine

The Oyu Tolgoi project is central to Rio Tinto's push to diversify its portfolio away from iron ore.

BHP, Rio, Vale stock bested Apple, Google, Facebook in 2018

It's been a tough year for mining, but the Big 3 were still a better investment than the FAANGs in 2018.

Rio Tinto says no job cuts in 2019 due to driverless train project

The $940 million rail project, AutoHaul, is focused on driverless train movement to transport ore and has been in development since 2012.

China's Minmetals to buy 2.04m tonnes iron ore from Rio Tinto in 2019

Minmetals will purchase Pilbara Blend lump ore that will delivered through 12 cargoes and priced at around $144.94 million.

Rio Tinto plans to list Canadian iron ore unit in early 2019

Rio Tinto, the world's second-biggest listed miner, is targeting a valuation of about $4 billion sources tell Reuters.

Supreme Metals pinpoints large near-surface magnetic anomaly in Labrador

The company will continue to explore the anomaly as well as look for gabborites containing cobalt.