Rio Tinto Mining News

How Anglo quietly built a commodity trader in Glencore's shadow

In just five years, Anglo assembled marketing operations that now sell more metals than the company produces.

Norway's Hydro drops plan to buy Rio Tinto assets

Hydro, which is not interested in acquiring aluminium plants that use coal-fired power, was hoping the deal would be part of efforts to make its output as green as possible.

Rio Tinto scours for electricity to run giant Mongolia copper mine

Mining giant running out of time to secure power supplies

Mining exploration spending in Australia jumps to 5-year high

Drilling at new projects up 57% as spending on gold exploration reaches 21-year high.

Tipping point? Inflation creep at Australia's mines to erode margins

Rising costs, falling metals prices may eat into margins.

Rio opens new diamond pipe in subarctic Canada

The pipe is expected to be "an important source of incremental supply over the next four years."

Australian iron ore miner Fortescue's annual profit halves

Fortescue Metals said that its annual profit halved as prices for its lower quality iron ore fell.

Mining and metals markets crater as copper price enters bear market

Investors found no solace in traditional safe haven gold with the precious metal setting a one-and-a-half year low.

Rio Tinto closer to selling $6bn stake in Iron Ore of Canada

Company is said to have hired Credit Suisse to conduct an auction of its 58.7% interest in IOC.

Global bauxite production to grow: Fitch

Fitch Solutions Macro Research states that bauxite production growth will remain high over the coming years, as new projects come online in Australia, Indonesia expands exports, India’s production ramps up, and existing projects in Guinea drive growth.

Miners set to spend $11B in search of the next jackpot

Miners and investors are poring over satellite images, tracking drilling rigs and quizzing company executives for clues.

Rio Tinto down despite $7.2bn cash return to investors

Company said first-half profit grew 12% to $4.42 billion, below the $4.53 billion forecast by analysts.

BHP, Rio deals show lack of options beyond shareholder returns: Russell

BHP Billiton last week agreed to sell its U.S. shale oil and gas assets for $10.5 billion, while Rio Tinto appears on track to exit its troubled investment in the giant Grasberg copper and gold mine in Indonesia for about $3.5 billion.

BHP final pay offer to Escondida workers falls short of union demands

BHP has offer workers a signing on bonus of $27,000, up from an earlier offer of $23,000, plus a 1.5% salary increase, but still well under the bonus up to $43,000 and 5% increase demanded by Escondida’s union.

Rio Tinto opens Chicago office to be closer to US customers

The new Rio Tinto office will allow for expanded engagement and provide opportunities for partnerships with new and existing customers.

Miners wrote off almost one-third of investments over last decade

From the $939bn invested in major projects between 2008 and 2017, the world’s top 40 mining companies by market cap. wrote-off $273bn or 29% of the initial capital outlay.

Guinea's mining minister says there will be Simandou deal, talks go on

Guinea is in constant talks with Rio Tinto and Chinalco to finalise a deal on the Simandou iron ore project, its mining minister said on Tuesday, adding he was confident an agreement would be reached. […]

World's biggest miners want more copper but nobody's selling

Nobody who owns a copper mine wants to give it up. Even when Glencore and Anglo American Plc were crippled by debt during the 2015 commodity slump, neither was willing to entertain an offer from Rio for their holdings in the giant Collahuasi deposit in Chile.

Rio Tinto posts jump in iron ore output, flags stronger 2018

Rio said it expected iron ore shipments for the year to be at the upper end of its range of 330 million to 340 million tonnes, thanks to productivity improvements and fewer weather-related disruptions compared to Q2 2017.

Rio Tinto’s ‘world’s largest robot’ delivers first iron ore load

The autonomous train, consisting of three locomotives and carrying around 28,000 tonnes of iron ore, travelled from Tom Price mine to the port of Cape Lambert

Rio Tinto to sell its largest pink diamond

The 3.14-carat polished emerald cut diamond, known as The Argyle Alpha, is part of the line-up of 63 rare pink, red and violet diamonds in the 2018 Argyle pink diamonds tender.

Rio Tinto sells $3.5bn stake in Grasberg mine to Indonesian state miner

The world’s No.2 miner is selling its 40% in the giant Grasberg mine, the world’s second largest copper operation, to Indonesia’s state mining company PT Inalum.

Rio Tinto's minerals sands operation in South Africa shut by protests

A mineral sands operation on the South African coast run by Rio Tinto has been closed since Friday due to violent community protests which saw a security guard killed earlier this week, the company and a union said on Wednesday.

Death by diamonds: Suicides wipe the shine off India's gem trade

Over 80 percent of the total workforce earn a piece rate of 1 to 25 rupees for each stone they polish and have no social benefits.

Chilean miner Mantos Copper seeks buyer to help finance expansion

Mantos Copper bought the Mantos Blancos and Mantoverde copper mines from Anglo for $300 million plus $200 million in conditional future payments.