Need to know: Rio Tinto sale ... Bmibaby cuts ... Future looking up
November 27, 2008
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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.
Rio Tinto forced to delay $10bn asset...
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...
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...
Rio Tinto upbeat on commodities as...
Rio Tinto, the world's second largest miner, today revealed a 51.8 per cent
rise in profit for the first six months of the year due to soaring commodity
prices as it...
Chinalco May Snag More Of Rio Tinto
Before increasing its stake in the miner, the Chinese aluminum maker is waiting to test market conditions.
Rio Tinto to invest 2.15 bln dlrs in...
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.
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.
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 to invest $2.15 bln in...
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 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 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...
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...
BHP Billiton and Rio Tinto: the cost...
It usually takes years for shareholders to discover how much value has been
destroyed by an ill-conceived merger. For investors in BHP Billiton and Rio
Tinto, the bills have...
BHP Billiton scraps $66 billion bid...
BHP Billiton this morning scrapped its $66 billion hostile bid for rival Rio
Tinto, stating that it no longer believes the deal is in the best interests
of its shareholders...
Rio Tinto axes 14,000 jobs to reduce debt pile
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 with slump
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 mining company said Wednesday.
Rio Tinto undermined by takeover...
Mounting fears that Rio Tinto would be forced into an equity issue to pay off
debt due next year made it London’s worst blue-chip performer.
Rio Tinto cuts iron ore production
Rio Tinto will reduce production of iron ore at its Western Australia mines by 10 percent due to weakening demand from China, the company said.
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.
Unemployment ... Rio Tinto: Tempus at...
Unemployment: Gordon's millions
BHP Bid for Rio Tinto Concerns Australia
Australia's competition regulator raised concerns over the pricing power in the iron-ore market of a combined BHP and Rio Tinto, should BHP's proposed $164 billion takeover of...
E.U. Opens Fire On BHP
Regulators lodge objections to bid for Rio Tinto on competition grounds.