Edition:
United States

Rio Tinto Ltd (RIO.AX)

RIO.AX on Australia Stock Exchange

58.61AUD
5 Dec 2016
Change (% chg)

$0.57 (+0.98%)
Prev Close
$58.04
Open
$58.80
Day's High
$59.20
Day's Low
$58.43
Volume
1,786,155
Avg. Vol
2,348,088
52-wk High
$61.94
52-wk Low
$36.53

Latest Key Developments (Source: Significant Developments)

Acacia Coal says AJC to acquire Riversdale Anthracite Colliery from Rio Tinto
Sunday, 16 Oct 2016 07:09pm EDT 

Acacia Coal Ltd : AJC to acquire Riversdale Anthracite Colliery from Rio Tinto . Acacia has entered a binding agreement to acquire a 74% interest in riversdale anthracite colliery (rac) metallurgical coal project . Deal to acquire 74% interest in riversdale anthracite colliery, together with a capital raising to raise approximately $2 million .Coalvent has agreed to acquire project from rio tinto and then vend it into acacia.  Full Article

Rio Tinto says prices cash tender offers
Tuesday, 11 Oct 2016 12:51pm EDT 

Rio Tinto Plc : Rio Tinto prices cash tender offers .Rio Tinto - consideration payable in connection with offer set at $1,076.38 for its 3.5 percent notes due 2022; at $1,046.37 for 2.875 percent notes due 2022.  Full Article

Rio Tinto to buy back up to $3 billion worth debt securities
Monday, 26 Sep 2016 10:32am EDT 

Rio Tinto Plc : Launching a bond purchase plan for up to $3 billion. . Issued a redemption notice for approximately $1.5 billion of its 2017 and 2018 US dollar-denominated notes . Commenced cash tender offers to purchase up to approximately $1.5 billion of its 2019, 2020, 2021 and 2022 us dollar-denominated notes .Rio Tinto launches new debt reduction programme for up to $3 billion.  Full Article

Eclipse Metals executes farm-in joint venture with Rio Tinto
Sunday, 21 Aug 2016 09:47pm EDT 

Eclipse Metals Ltd : Rio Tinto & Eclipse Metals Ltd farm-in joint venture . Expenditure to earn a 90% interest in one of the five Eclipse liverpool project uranium-gold-palladium tenements . Rio Tinto can fund up to $5 million exploration expenditure to earn 90% interest in 1 of 5 Eclipse liverpool project uranium-gold-palladium tenements .  Full Article

Moody's changes Rio Tinto Group's, all subsidiary outlooks to stable
Thursday, 18 Aug 2016 01:47pm EDT 

Moody's - : Moody's changes Rio Tinto Group's and all subsidiary outlooks to stable; affirms all ratings (BAA1 Sr. Unsecured) . Moody's on Rio Tinto Group - Outlook anticipates company to be free cash flow generative, liquidity position to continue comfortably above ongoing requirements .Moody's - We expect Rio Tinto's performance to slowly improve from the weak levels evidenced in 2015, particularly in the second half.  Full Article

RCR Tomlinson bags contract for Rio Tinto's Silvergrass project
Monday, 15 Aug 2016 06:32pm EDT 

RCR Tomlinson Ltd : RCR wins major contract for Rio Tinto's Silvergrass project . Construction is expected to commence on site in Q4 of 2016, following Rio Tinto gaining the necessary government approvals . Says contract is valued over $120 million .  Full Article

Rio Tinto updates on sale of Mount Pleasant coal assets
Thursday, 4 Aug 2016 06:28pm EDT 

Rio Tinto Ltd : Rio Tinto completes sale of Mount Pleasant coal assets . Sale agreement has been amended to bring forward two payments originally scheduled eight and 16 months after completion . New agreement sees the total unconditional payments decrease by approximately $3.3 million . Agreement now includes a single payment on completion of US$195.7 million, a conditional payment of US$25 million, and royalties .Agreement includes royalties, payable qtrly at 2% of gross fob revenue for coal sold from existing reserve estimates at prices exceeding us$72.50/tonne.  Full Article

Rio Tinto says HY underlying earnings $1.6 bln
Wednesday, 3 Aug 2016 02:16am EDT 

Rio Tinto Ltd : Rio Tinto 2016 half year results . HY underlying earnings of $1.6 billion, $1.4 billion lower than 2015 first half . HY net earnings $1.713 billion versus $806 million a year ago . Has announced an interim dividend of 45 US cents per share . Intention of the board is that the total full year dividend will be not less than 110 US cents per share, equivalent to $2 billion . Operating cash cost improvements of $2 billion (pre-tax) expected over 2016 and 2017, in line with previous guidance . Maintained a strong balance sheet with net debt of $12.9 billion and gearing of 23 per cent, in the lower half of the targeted range" . Capital expenditure expected to be around $4.0 billion in 2016, around $5.0 billion in 2017 and around $5.5 billion in 2018 . Development of the oyu tolgoi underground copper mine in Mongolia first tonnes expected in 2020, with average production of 560 thousand tonnes between 2025 and 2030 . Operating cash cost improvements (including exploration and evaluation savings) of $2 billion (pre-tax) expected over 2016 and 2017 . Continuing to target 20 to 30 per cent gearing ratio through the cycle" . Global growth forecasts for 2016 have been downgraded to around three per cent, matching the pace of the past few years." . Expects total cash returns to shareholders over longer term to be in a range of 40 to 60 per cent of underlying earnings in aggregate through the cycle.  Full Article

Rio Tinto approves development of Silvergrass mine
Tuesday, 2 Aug 2016 06:49am EDT 

Rio Tinto Plc : Rio Tinto approves development of Silvergrass mine . Expected internal rate of return for this investment well in excess of 100 per cent and a pay back of less than three years . As anticipated in previous guidance, this Silvergrass investment adds 10 million tonnes of capacity . Final stage of Silvergrass development is subject to obtaining necessary approvals from west australian government. . Will invest an incremental $338 million to complete development of Silvergrass mine in its world-class Pilbara iron ore operations in Western Australia . Key element in maintaining Rio Tinto's premium Pilbara blend, and also delivers incremental tonnage and lower unit costs. . Final stage of Silvergrass development is subject to obtaining necessary approvals from West Australian government .Investment will lower mine operating costs by replacing road haulage with a more efficient conveyor system.  Full Article

Swift Networks wins material contract with Rio Tinto
Wednesday, 27 Jul 2016 08:12pm EDT 

Swift Networks Group Ltd : swift networks wins material contract with rio tinto to provide its services to 420 new rooms at jerriwah village .  Full Article

Aluminum producers seek first-quarter premium of $95-$110/T from Japanese buyers: sources

TOKYO Some big aluminum producers seek a premium of $95-$110 per ton from Japanese buyers for primary metal shipments in the January to March period, up 27-47 percent from the previous quarter, five sources involved in pricing talks said on Friday.