Rio Tinto
Rio Tinto is a leading international mining group, combining Rio Tinto plc, a London listed public company headquartered in the UK, and Rio Tinto Limited, which is listed on the Australian Stock Exchange, with executive offices in Melbourne.
The Group finds, mines and processes the earth's mineral resources - metals and minerals essential for making thousands of everyday products that meet society's needs and contribute to improved living standards.
The Group's major products include aluminium, copper, diamonds, energy products, gold, industrial minerals (borates, titanium dioxide, salt and talc), and iron ore. Its activities span the world but are strongly represented in Australia and North America. There are also significant businesses in South America, Asia, Europe and southern Africa.
Rio Tinto sells nearly all of its $15.2 billion rights issue
Rio Tinto (ASX: RIO), the world’s third largest mining company, sold nearly all (97 percent) of the London listed shares on offer in a $15.2 billion sale to reduce debt.
Rio rejected a $19.5 billion investment proposal from its biggest shareholder Chinalco of China last month and instead opted for the share sale and an iron ore joint venture with BHP Billiton Ltd. Chinalco, as the state-owned company is known, confirmed today that its took up its rights in the share sale.
Its major shareholder, China's state-owned Chinalco, later said it had taken up its full entitlement to the offer, which ranks as the fifth-biggest on record. It was a sign that Chinalco was far from severing ties with Rio Tinto.
Rio was trading at $52.28, up 1.32% on the ASX.
London-based Rio offered existing shareholders the right to buy 21 new shares for every 40 they hold at 1,400 pence for its London shares and A$28.29 for its Sydney shares.
Other Rio Tinto articles
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30/11/09 Rio Tinto's Rossing can produce uranium at current rate ‘til 2023
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07/10/09 Rio Tinto says it has signed Oyu Tolgoi agreement
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14/08/09 Seaborne iron ore, the world's bulk gold
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25/07/08 Rio Tinto's quarterly performance impresses Fat Prophets
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19/06/08 Rio Tinto's strong development pipeline impresses
Other Rio Tinto news
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02/02/10 Rio Tinto completes US$1.9bn Alcan Packaging asset sale to Amcor
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21/01/10 Rio Tinto still cautious despite strong demand for iron and copper ores
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14/01/10 Rio Tinto reports record performance for iron ore operation in Q4
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18/12/09 Rio Awards A$200 Million Iron Ore Mining Contract To Indigenous Joint Venture in Pilbara
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04/12/09 Rio Tinto Opens New Research Facility in Brisbane in Collaboration with University of Queensland
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13/10/09 Ivanhoe Mines cash position doubles after Rio Tinto opts to double stake to 19.7%
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06/10/09 Rio Tinto signs investment deal with Mongolian govt for Oyu Tolgoi copper-gold project
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21/09/09 Rio Tinto completes US$750 million disposal of Corumba Iron Ore Mine to Vale
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18/08/09 Rio Tinto receives US$2 billion binding offer for Alcan Packaging
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13/08/09 Rio Tinto unit Cloud Peak Energy files new IPO registration with US SEC
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