Rio Tinto forced to delay $10bn asset sale$
October 15, 2008
Shares in Rio Tinto fell by nearly 10 per cent this morning after the global
mining group said it would delay plans to sell $10 billion ($£5.74 billion)
of assets amid the ongoing financial crisis.
BHP Billiton abandons bid for Rio Tinto
BHP Billiton Ltd., the world's biggest mining company, abandoned a hostile $68 billion takeover bid for rival Rio Tinto Ltd., blaming the global economic downturn and plunging commodity prices.
Rio Tinto says it is comfortable with debt level
Mining giant Rio Tinto on Wednesday sought to allay concerns about its debt levels a day after bigger rival BHP Billiton abandoned a takeover bid for that reason, sending Rio's share price plummeting.
Australia approves Chinalco's stake...
Australia has approved Aluminum Corp. of China Ltd.'s stake in miner and takeover target Rio Tinto Ltd., Treasurer Wayne Swan said Sunday.
Chinalco May Snag More Of Rio Tinto
Before increasing its stake in the miner, the Chinese aluminum maker is waiting to test market conditions.
Norwegian wealth fund sells stake in...
One of Rio Tinto's largest shareholders has sold its £500 million stake in the
company over concerns about the Grasberg goldmine, which has been called one
of the world's...
Rio Tinto expects post-Olympic...
China's economy should recover its growth trajectory after two weeks of
self-imposed slowdown during the Olympics, Rio Tinto said yesterday.
Rio Tinto axes 14,000 jobs to reduce...
Rio Tinto, the Anglo-Australian mining giant, today announced that it will cut
14,000 jobs in an attempt to reduce its $39 billion ($26.2 billion) debt
mountain.$
Rio Tinto to cut 14,000 jobs to cope...
Rio Tinto Group will cut 14,000 jobs worldwide and reduce capital investment as part of new measures to reduce its debt amid waning demand for iron ore and other metals, the...
Rio Tinto posts record half-year profit
Rio Tinto Ltd., the world's third-largest mining company, said Tuesday that half-year profit more than doubled to a record on strong demand from China for iron ore and other metals.
EU threat to Rio Tinto takeover
EUROPEAN regulators are this week expected to threaten to stop the proposed takeover of Rio Tinto by BHP Billiton because of the dominance the pair have over the world’s supply of iron ore.
Rio Tinto kicks off savings drive...
Rio Tinto, the Anglo-Australian mining giant, said yesterday that it would cut 14,000 jobs in an attempt to reduce its $39 billion (£26.2 billion) debt mountain.
Investors furious as BHP pulls plug...
BHP Billiton’s hostile pursuit of Rio Tinto, its mining rival, ended
yesterday, bringing to a halt an extraordinary bonanza for advisers who have
reaped more than £400...
Rio Tinto loses iron ore licence in...
Rio Tinto, the world's second-largest miner, has lost control of one of its
most important iron ore projects.
Rio Tinto sells WA asset for $564m
Rio Tinto Ltd has completed the sale of its Kintyre uranium project in Western Australia's East Pilbara region for $US495 million ($A564 million).
Rio Tinto to fight for Simandou project
Rio Tinto Ltd has vowed to fight for its rights to the $6.46 billion Simandou iron ore project in Guinea.
Rio Tinto higher despite fear of...
The pressure on Rio Tinto to scrap big mining projects increased yesterday as
Moody’s, the ratings agency, gave warning that the group’s income next year
would be squeezed...
Japan gives 11-day ultimatum to BHP over hostile Rio Tinto takeover
The Japanese Government has ordered BHP Billiton, the world's largest miner, to provide details of its proposed $78 billion ($£48.3 billion) takeover of Rio Tinto within 11 days or face possible criminal prosecution.
Rio Tinto to invest 2.15 bln dlrs in Brazil iron ore mine (AFP)
AFP - Anglo-Australian mining giant Rio Tinto announced Wednesday that it will invest 2.15 billion US dollars in a major expansion of its iron ore mine in Corumba, Brazil.
Rio Tinto says Guinea goes back on...
AFP - Anglo-Australian mining giant Rio Tinto said Sunday a concession which potentially could open a massive new iron ore field in west Africa appeared to have been rescinded.
Rio Tinto ends Asian steel price talks
Rio Tinto has concluded price negotiations with its Asian customers for the steelmaking commodity.
Rio Tinto to double thermal coal by 2015
Rio Tinto plans to double Australian thermal coal output by 2015 as it ramps up production in the Hunter Valley and removes infrastructure constraints.
Rio Tinto to buy ore from mine in WA
Rio Tinto has signed an agreement to purchase ore from a junior explorer as the mining giant seeks to prevent third parties gaining access to its railway in WA.
BHP Billiton's bid for Rio Tinto...
The European Union has begun a full investigation into BHP Billiton's proposed
$170billion ($£85.8billion)takeover of Rio Tinto, its rival.
EU widens antitrust probe into BHP...
The European Commission on Friday widened its antitrust probe into the proposed acquisition of Rio Tinto Inc. by BHP Billiton Ltd., saying an initial investigation revealed...