Rio Tinto Mining News

Strike at Escondida hurt Rio Tinto copper output

Production for the first three months of the year slumped 37% compared with the same period of 2016.

Iron ore price collapse wipes billions off top mining stocks

Another 5% iron ore price drop Tuesday slashes $30 billion from top 5 producers' market value in one month.

Australia greenlights Rio Tinto’s $2.45bn sale of coal mines to Yancoal

With the Foreign Investment Review Board’s approval, Rio Tinto is a step closer to fully exit thermal coal.

Iron ore, copper price plunge brings carnage to mining stocks

Worries about Chinese economy and rising tension surrounding North Korea brings fear trade to mining and industrial metals.

Iron ore market keeps getting uglier — prices at lowest since November

The commodity is now trading below $70 a tonne and has just suffered its largest one-day percentage decline in over a year.

Iron ore prices keep falling despite a decrease in China’s inventories

After a 85% rise in 2016, iron ore prices are now down 3.2% so far this year, which has placed the commodity in a bear market.

Iron ore miners shares drop as prices collapse

Ore with 62% content in Qingdao fell almost 7% overnight, entering a bear market and erasing all of this year’s gains.

Rio Tinto to fight $447 million Australian tax bill

The amount is linked to what is known as “transfer pricing” between Rio Tinto’s Australian operations and its Singapore office.

Erdene Resource moving forward with flagship project in Mongolia

While the company had other projects in the country, the Bayan Khundii gold project went from greenfield prospect to being its main asset in roughly nine months.

Iron ore drops below $80 a tonne again

So far this year, the commodity has risen just 0.6%, quite far from the over 20% gains seen just over a month ago.

Top 50 biggest mining companies

Combined worth of $842 billion with 20% gains so far in 2017.

Escondida mine replaces top exec after failing to reach deal with workers

Appointment comes barely a week after the mine, operated by BHP Billiton, failed to secure a wage deal with 2,500 workers after a 43-day strike.

Rio Tinto appoints President of Diavik Diamond Mines

Rio Tinto has appointed Patrick Boitumelo as President and Chief operating officer, Diavik Diamond Mines.

Rio Tinto may take over Pistol Bay’s uranium assets sooner than expected

The world's second largest miner gave Pistol a $75K cash injection in an effort to own the Saskatchewan-based properties before the end of 2019.

Iron ore hits lowest price since early February

The steelmaking ingredient has shed almost $10 a tonne in just a week.

BHP's Escondida mine strike becomes Chile’s longest, ends with no deal

Workers ended their strike and invoked a rarely used legal provision that allows them to extend their old contract, which leaves them in the exact same situation they were before they downed tools.

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.