ESG, anyone? Coal and oil prices soaring as China squeeze and supply chain chaos hits everything
Hard cash and reality can apparently still penetrate the mists of the big-tech world-view
Company
Rio Tinto Ltd
LON:RIO
Rio Tinto Ltd is a leading international mining group that finds, mines and processes the earth's mineral resources. 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.
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Rio Tinto promises better transparency as it publishes Communities and Social Performance report after Juukan Gorge incident
The Juukan Gorge rock shelters, which were destroyed during mining operations last year, showed human habitation dating back 46,000 years
Rio Tinto and BHP to pay out US$100bn in dividends over next three years predicts JP Morgan
Mining titans will each hand back more than US$50bn suggests the broker
Rio Tinto pays US$9bn dividend as metal prices soar
A surge in the prices of iron ore, copper and aluminium meant the FTSE 100 miner generated US$13.7bn of net cash
Rio Tinto and BHP lead the dividend recovery with more to come
Miners have now linked their payouts to earnings so if metal prices dip so will payouts
Rio Tinto agrees to assess environmental and human rights impacts of former Panguna copper mine
A committee will assess the actual and potential environmental and human rights impacts of the mine
Rio Tinto shuts one furnace at Richards Bay Minerals after tensions in South Africa halt mining at the plant
All operations at RBM remain halted until further notice
Archive
Proactive weekly mining highlights: Rio Tinto, Bradda Head, Ariana Resources ...
Some of the mining sector's stories this week in snapshot
Rio Tinto output drops but metal prices buoyant
Iron ore shipments this year will be at the low end of guidance
Miners in good shape as US readies to tighten according to JPM
Rio Tinto, BHP and Glencore all have punchy price targets from the broker
Rio Tinto halts operations at South Africa mine amid escaling security issues, declares force majeure
Nico Swart, the general manager of RBM, was killed in an ambush in May on his way to work
Is anyone surprised that further allegations of Rio Tinto’s past wrongdoings are now beginning to surface?
Heads rolled after Rio Tinto famously dynamited an old aboriginal rock shelter at the Juukan gorge last year
What are borates and why are they important in industry? A 2-minute explainer
Boron and borates have uses from sustainable fertiliser, in the production of numerous alloys, in bone and muscle supplements, adding heat-resistance to glass and forming components for lithium-ion batteries
Sell Rio Tinto says UBS as iron ore "approaching inflection point"
Near-term risks for commodities are increasing, the Swiss bank said, with the Fed turning more hawkish and China taking action to deflate metal prices
Rio Tinto confirms Peter Cunningham as chief financial officer
Cunningham has been interim CFO since 1 January when his predecessor became CEO
Proactive weekly mining round-up: Ferro-Alloy Resources, Nord Gold, Rio Tinto ...
A snapshot of some of the week's stories from the mining sector
Rio Tinto appoints former aboriginal affairs minister to board
"I am convinced that Rio Tinto is committed to changing its approach to cultural heritage issues and restoring its reputation," said new non-executive director Ben Wyatt.
Mining indicator downgraded close to sell territory, says broker
The indicator uses a combination of ratios from the sub-indices of a key Chinese steel survey
Proactive weekly mining round-up: Rio Tinto, Bacanora Lithium, Caerus Mineral Resources...
A run-through of some of the week's mining stories
Rio Tinto goes ahead with 20% pay rise to chief executive who left after Australian heritage site blast
Over 60% of shareholders voted against two resolutions on the firm’s remuneration report
Archive
Miners in focus for Wednesday while UK inflation data provides macro flavour
Blue-chip miners Antofagasta and BHP are in the diary for mid-week, while earnings season in the US will bring results from Spotify and Verizon among others
Rio Tinto says first-quarter output in line with guidance, keeps target for the year unchanged
Production guidance for the year was unchanged, although it warned that iron ore shipments and bauxite output guidance remain subject to weather and market conditions
Proactive weekly mining round-up: Rio Tinto, Anglo American, Tirupati Graphite...
A selection of some of the week's mining stores in brief
Rio Tinto gives ground at Oyu Tolgoi
Rio Tinto has been enmeshed in ESG issues in Mongolia for some time
Archive
FTSE 100 closes lower but Wall Street heads higher amid strong inflation data
Britain's blue-chip benchmark finished down over 26 points, or 0.38%, at 6,915 but FTSE 250 stayed in the green
President Biden looks likely to be less friendly to mining than Trump, or even Obama
Will permits to mine copper become a key political battleground in the future?
Rio Tinto commences major programme of virtue signalling in regard to indigenous rights
Rio Tinto is one of the largest mining companies in the world
Turbulence at Oyu Tolgoi could help sustain an upward pressure on the copper price for years to come
Oyu Tolgoi is set to bring a further 480,000 tonnes of copper into the market from 2028
Archive
FTSE 100 finishes flat; US stocks up at midday, including GameStop
London's leading index ended up less than a tenth of a point at 6,730
Rio Tinto chairman to step down in wake of Aboriginal cave destruction
Chairman Simon Thompson decides not to seek re-election at the 2022 annual general meetings
Rio Tinto to dispute extra tax demanded by Australian authorities
The miner received amended assessments of A$359.4mln (£200mln) primary tax and A$47.1mln (£26mln) of interest
Rio Tinto steps up ESG efforts but Apache people protest Resolution Copper project in Arizona
The miner is trying to restore trust with the Aboriginal community after dynamiting heritage areas in Australia, but is going ahead with a US project that is angering Native Americans
What will the world’s major mining companies do with all their cash?
BHP raised its dividend by 55% this week, and Rio Tinto's is up significantly as well
Rio Tinto hikes dividend by 26% after strong year
The mining giant set some new climate change targets, including cutting steelmaking carbon intensity by a third from 2030 and potentially making it carbon neutral by 2050
Archive
FTSE 100 closes lower as US retail data and bond yields weigh
Britain's blue-chip benchmark finished the day down nearly 38 points at 6,710
Mining sector dividend yields are best value for years, suggests Citigroup
“The miners are currently trading at a dividend yield of 6.2%, compared to 15-year average of 2.5%.
Credit Suisse sets a bullish tone for iron ore companies, with US$150 price forecast for 2021
Chinese demand continues strong, and Australian producers in particular look set to benefit
Iron ore price to jump 45% and drive Rio Tinto's earnings higher, suggests Credit Suisse
Credit Suisse expects Rio’s underlying earnings to jump by 40-60% over the next three years.
Rio Tinto increases iron production in fourth quarter
A rehabilitation programme for the destroyed Juukan 1 and Juukan 2 rock shelters historical aboriginal sites has started
Rio Tinto and Centamin kick off mining theme; Netflix starts FAANG reporting season
Experian, which hit an all-time high last year, is also due to provide a trading update on Tuesday
Rio Tinto downgraded to ‘hold’ by Deutsche Bank after iron ore bears capitulation, other miners get share price boost
Analysts expect iron ore prices to normalise through the second half of 2021 and 2022, although near-term fundamentals remain very tight
Proactive weekly mining round-up: Rio Tinto, Greatland Gold, Caledonian Mining ...
Some of the major stories in the UK mining space this week
Rio Tinto is tremendous, says new chief executive
Rio Tinto is one of the world's major producers of iron ore
Rio Tinto makes internal hire as it names Jakob Stausholm as new CEO
The company announced incumbent chief executive J-S Jacques would step-down in September amidst controversy following the destruction of historical aboriginal sites at Juukan Gorge in Pilbara, Australia.
Copper prices hit eight year highs in Shanghai, four year highs in London
Copper is widely considered as the bellwether of the global economy
Rio Tinto attacked by hedge fund Odey over Oyu Tolgoi financing
Odey wants Rio Tinto to remove the project finance package at Oyu Tolgoi
Liberum takes aim at the miners with three downgrades and an upgrade
The broker believes the market has over-estimated the price support for iron ore and underestimated it for platinum group metals
Archive
Today's Market View - URU Metals, Rio Tinto, Power Metal Resources and more...
SP Angel . Morning View . Friday 16 10 20 Copper prices level ahead of Chinese Q3 GDP out early next week Power Metal Resources* (LON:POW) – Drilling commences in Botswana Rio Tinto (LON:RIO) – Maintaining production and capex guidance acro
Rio Tinto says its resilient, confirms reduced iron and copper volumes in Q3
“We have maintained our capex guidance and our 2020 production guidance across our key products.”
Rio Tinto upgraded by JP Morgan amidst ‘strategic limbo’
“Strategic stasis means M&A tail risks are eliminated and capex is highly transparent."
The departure of Rio Tinto’s chief executive is the very least that was required after the destruction of sacred aboriginal sites
Those deemed responsible originally had their bonuses capped
Rio Tinto chief executive quits over aboriginal site destruction
Chris Salisbury, head of iron ore, is to leave at the end of 2020, with corporate relations director Simone Niven also stepping down
Rio Tinto executives lose bonuses for destruction of ancient aboriginal site
The miner added it will implement new measures to give heritage issues equivalent priority with safety and operational performance
Rio Tinto cuts copper guidance after Utah smelter breaks down
The smelter is expected to be out of action for another two months
Archive
FTSE 100 index closes in red as European markets give back gains
Britain's top share benchmark finished down over 77 points, or 1.27%, at 6,026, while the pound was up 0.24% against the US dollar
Iron ore hits a one-year high, and share prices follow
Iron ore is in demand as new infrastructure projects paid for by stimulus get underway
Rio Tinto hikes dividend despite fall in underlying profits
Underlying profits fell 6% but the dividend was hiked 3%
Rio Tinto set for new copper mine development as it announces maiden resource for Winu discovery
"We are very pleased with the progress at Winu as it adds a further option to our strong copper portfolio in a country that is home to many of Rio Tinto's world class operations"
Rio Tinto increases production and shipments of iron ore in spite of coronavirus
The mining giant continued to operate at all its locations through the pandemic
Archive
FTSE 100 closes in positive territory after quiet end to week
Britain's top share index closed the day up over 39 points, or 0.63%, at 6,290
Updates due from Rio Tinto and DCC on Friday
On the macro data front there will also be a UK consumer confidence report from Gfk
Rio Tinto edges higher as RBC Capital ups its rating to ‘sector perform’ from ‘underperform’
The broker also raised its target price to 4,200p, up from 3,600p previously, albeit with the shares currently trading at 4,580.50p
BP write-down a sign of things to come says fund manager lobby group
“Investors will have to understand that they (oil majors) are not going to be able to pay dividends like they did before,”
Rio Tinto launches review of 'heritage management' after blowing up Aboriginal site
Pressure has grown for changes to Australia's mining laws after the mining giant blew up two sacred sites at the Juukan Gorge in the Pilbara region as part of efforts to expand one of its mines
Rio Tinto says operations continue in line with coronavirus lockdown rules
Demand in China continues to recover but supply in the rest of the world has been hit by coronavirus pandemic travel restrictions
Mixed messages from South Africa’s miners as 21-day lockdown squeezes PGM supply
Some shares rise as uncertainty is removed, and PGM supply squeezed
Rio Tinto slows operations in Quebec and South Africa
Rio Tinto is one of the world's largest diversified mining companies
Development work at Rio Tinto’s Oyu Tolgoi mine in Mongolia slows, as coronavirus impact bites
The open pit mine continues to produce and deliver shipments of copper
Rio Tinto pledges to go carbon net-zero by 2050
The miner has planned a US$1bn climate-related spend in the next five years, while it is still evaluating the impact of coronavirus
Archive
FTSE 100 makes late dash to close higher as markets look to recover from virus fears sell-off
Footsie closed up around 24 points at 7,042. FTSE AIM 100 lost over 91 points at 4,624.
Archive
Miners, bookies and builders top of the agenda for Wednesday
Ahead of Thursday's deluge of results, mid-week will see results from Rio Tinto, William Hill and Taylor Wimpey
S&P/ASX 200 futures deep red as Dow Jones drops 1000 points
S&P 500 Index closed down 3.35% and the Nasdaq Composite closed down 3.71%.
RBC Capital Markets raises concern about iron ore price amidst continuing coronavirus uncertainty
The dynamics of supply and demand in China will play a crucial role
Coronavirus rules in equity and commodity markets, or does it?
Traders are nervous, no doubt about it, but they are still out there buying
Archive
UK dividend growth to slow in 2020 as special payouts tail off
A study by asset manager Janus Henderson showed 6.2% growth for UK dividends in 2019 but the current year is not set to be as strong
Rio Tinto trims shipment guidance from Australian region hit by cyclone
Shipments in 2020 are now expected to be 324-334mln tonnes, against previous estimates were 330-343mln tonnes
Archive
UK dividends hit record levels in 2019, but small firms lag behind the big hitters
Analysts at Link Group have also highlighted that equities still provide the "most attractive income” across asset classes going into 2020
Rio Tinto positive on its performance despite 2019’s operational challenges
"We finished the year with good momentum, particularly in our Pilbara iron ore operations and in bauxite, despite having experienced some operational challenges in 2019,” said chief executive J-S Jacques.
Rare earths & specialist minerals
Base, Bluejay and Savannah all set to benefit from increased mineral sands prices, following Rio’s suspension of operations at Richards Bay
Supply and demand in the mineral sands industry is finely balanced
Rio Tinto to fund uranium mine clean-up
The giant miner vowed to subscribe to US$221mln rights shares of subsidiary Energy Resources of Australia and will fully underwrite its US$326mln equity fundraising if no other entity does so
Rio Tinto to review future of world’s purest aluminium smelter amid “challenging” market
The Tiwai smelter is located in the Southland region of New Zealand and is responsible for around 1,000 jobs and 10% of the area's economy
Rio Tinto may become lithium giant after lucky tailings find
The miner was looking for gold in waste rock at its Boron site but found lithium instead
Rio Tinto iron ore production on the rebound
Analysts at Credit Suisse said production volumes rallied “where it mattered” in Pilbara, the industrial miner's most important asset
Rio Tinto has cancelled plans for the sale or flotation of its Canadian iron ore business: media reports
The Wall Street Journal said the Anglo-Australian miner - which owns a 59% stake in Iron Ore Co of Canada - was unable to settle on a suitable price
RBS and Rio Tinto drive UK dividend payments to record quarter
Rio Tinto paid out US$7.1bn in the second quarter of 2019, while RBS paid out its first annual dividend – as well as a special divi – since the financial crash
Archive
Last 'super Thursday' before Brexit as BoE, Shell and LSE updates eyed
On 1 August, other half-year updates include British American Tobacco, Barclays, Standard Chartered and Capita
Great Panther Mining says two new hires will help to unlock Tucano mine's tremendous potential
Fernando Cornejo has become vice-president of projects and technical services, while Marcelo Batelochi has become director of exploration in Brazil
Archive
Easyjet profit warning and Royal Mail's turnaround update eyed
Along with easyJet, there are also company updates due from Royal Mail and Anglo American, plus UK retail sales data
Shining some light on the uranium market
The trading of uranium can be a somewhat confusing process, however, there are still ways for retail investors to get involved
Rio Tinto warns of costly delay to Mongolian copper project, while iron ore production falls
The mining giant warned of a delay of 16-30 months for the start of sustainable production at its Oyu Tolgoi underground mine in Mongolia
Investments and investor services
FTSE 100 closes higher as the weaker pound boosts UK benchmark
The UK's premier share index finished around 45 points higher, at 7,577
Archive
Rio Tinto, Experian and Burberry all due to update the market on Tuesday
There’s a bit more for investors to get their teeth into on Tuesday
Investments and investor services
FTSE 100 closes higher on trader hopes of Chinese stimulus
The UK's premier share index finished almost 26 points higher at 7,531, while FTSE 250 gained over 32 points at 19,584
Archive
easyJet tipped to warn on profits amid challenging short-haul airlines market
It looks set to be a busy week of corporate announcements and UK economic data
Ferrexpo downgraded by Deutsche Bank after strong rise in shares
Deutsche Bank cut its rating on Ferrexpo to 'hold' from 'buy' but raised its target price to 325p from 310p.
Lake Resources advances agenda for Argentinian assets in Lithium Triangle
Explorer Lake Resources has a large lithium landholding in Argentina and is focused on projects suitable for partnering or low-cost operations.
Investments and investor services
FTSE 100 closes in red on day but higher over the week as US jobs rebound in June
The UK's premier share index closed down around 51 points at 7,552 on the day, but over the week as a whole the index added around 1.7%.
Xanadu Mines' significant shareholders committed to $3.37 million rights issue
Asia Capital and Advisors, CAAF and Noble Resources International will participate in the capital raising.