Rio Tinto Mining News

Iron ore miners worst nightmare just came true — prices tank

Prices for the raw material have dropped below $90 a tonne as doubts gather about the strength of demand in China at stockpiles hit record highs.

Escondida mine to resume operations as BHP losses soar past $700 million

The company is currently analyzing options to resume work as soon as possible, which includes hiring temporary workers to replace those that have downed tools.

Rio Tinto chairman Jan du Plessis steps down, set to lead BT

He joins a growing list of chairmen who are leaving some of the world's' top mining companies, including BHP Billiton and Anglo American.

Copper price falls to 8-week low

Strike at Freeport's giant Peru mine takes offline world's three biggest mines, but worries about demand drops copper after huge jump in warehouse stocks.

Strike at BHP’s Escondida mine takes toll on Chile’s copper output, GDP

The country’s copper output is predicted to have fallen by 12% last month when compared to February 2016, while GDP dropped 1%.

Rio Tinto defers former CEO Walsh bonus over Guinea scandal

Sam Walsh's bonuses, potentially worth millions, had been delayed for at least two years as investigations continue into dubious payments related to Simandou iron ore project in Africa.

Striking miners at BHP’s Escondida block roads, clash with police

Incidents come despite a local judge ruled late Tuesday that a deferred payment from 2016 should go out to workers within 48 hours.

Yancoal fresh loss casts doubts on planned acquisition of Rio’s mines

Industry observers believe Yancoal will face several challenges when trying to complete a $2bn equity issue to finance the acquisition of Rio’s coal mines in the Hunter Valley.

Copper deficit arrives early

The shortage of copper predicted for the next five years has the potential to skyrocket prices due to upcoming supply issues.

Diamond producers go after Millennials with Oscars-time spot

The target group was the the top diamond consumer in 2015, a year in which most commodities plummeted, hitting the mining industry very hard.

BHP has lost 41,000 tonnes of copper due to strike at Escondida

The company is reviewing its copper output guidance for 2017 as industrial action at its largest copper mine enters its third week Thursday.

Vale resumes sale of remaining fertilizer assets in Brazil

A reworked sale process for plants located in the southeastern city of Cubatão was reportedly launched in recent days.

Striking workers at BHP’s Escondida mine accept Gov’t mediation

The meeting is not a return to mediation but an attempt to agree to return to the negotiating table, the union said.

Copper price surges on BHP force majeure

Copper hits 20-month high after world's number one miner says can't honour supply contracts from Escondida, responsible for 5% of global output.

Rio Tinto logs first annual gain since 2013 on iron ore rally

Shareholders will be the main beneficiaries of the company's cautious approach to capital expenditure in the last three years as it will pay bigger-than-expected divvy of $1.70 per share.

Rio Tinto gives shelved diamond mine to central Indian state

The Madhya Pradesh government will take ownership of the assets, including all the land, plant, equipment, and diamond samples recovered during exploration.

Talks between BHP, Escondida workers to resume as Gov’t steps in

The company's request for government mediation effectively extends talks and pushes back the start of a potential strike to Feb. 13.

Australia’s record-breaking mining exports hint of new sector boom

Higher commodity exports delivered a record trade surplus of $3.5 billion in December, the second monthly trade surplus Australia has recorded in nearly three years.

Workers vote to strike at Escondida, world’s largest copper mine

Strike could begin as early as Friday, but will likely be postponed for a five-day government mediation to attempt a resolution.

Hedge funds have never been this bullish about copper price

Chile closes ports servicing some of the world's biggest copper mines due to rough seas while Escondida strike looms.

Canadian junior Pistol Bay stock just went ballistic and here’s why

Shares were up more than 45% on Tuesday mid-morning after it announced that joint venture partner Rio Tinto will start drilling for uranium at the company's asset in Saskatchewan.

China's Yancoal grabs Rio Tinto’s coal mines in $2.45bn deal

The world’s second-largest miner has agreed to sell its Coal & Allied Industries Ltd. subsidiary to Yancoal Australia Ltd., controlled by China's Yanzhou Coal Mining.

Rio Tinto, Chinalco put an end to copper joint venture

The amicable divorce ends a six-year-old exploration joint venture originally set to find copper deposits in China.

Rio Tinto welcomes Dhamani as a Select Atelier for Argyle Pink Diamonds

Dhamani joins an exclusive group of master craftsman and luxury jewellers with access to a direct supply of Australia’s rare Argyle pink diamonds and entrusted with transforming Argyle pink diamonds into exquisite jewellery.

Erdene new gold zone at Mongolia Bayan Khundii project larger than expected

Bayan Khundii project went from greenfield prospect to being Erdene’s flagship asset in roughly nine months.