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Rio Tinto Ltd (RIO.AX)

RIO.AX on Australia Stock Exchange

65.97AUD
22 Sep 2017
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$0.47 (+0.72%)
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Latest Key Developments (Source: Significant Developments)

Rio Tinto ‍adopts global paid parental leave standard, starting with U.S. operations​
Thursday, 21 Sep 2017 12:23pm EDT 

Sept 21 (Reuters) - Rio Tinto Ltd ::Rio Tinto PLC says ‍adopts global paid parental leave standard, starting with U.S. operations​.Will implement a new global minimum standard for paid parental leave for all employees​.New global minimum standard provides 18 weeks of paid parental leave at full pay following birth or adoption of a child to all employees​.‍18 weeks leave will be granted to an employee designated as child's primary caregiver; it is not gender specific​.  Full Article

Rio Tinto to commence additional $2.5 billion share buy-back
Thursday, 21 Sep 2017 12:00pm EDT 

Sept 21 (Reuters) - Rio Tinto Plc ::RIO TINTO - TO COMMENCE ADDITIONAL $2.5 BILLION SHARE BUY-BACK PROGRAMME, RETURNING PROCEEDS OF SALE OF COAL & ALLIED TO ITS SHAREHOLDERS​.RIO TINTO - ‍CAPITAL RETURN PROGRAMME WILL BE EXECUTED THROUGH A COMBINATION OF AN OFF-MARKET BUY-BACK TENDER, TARGETING A$700 MILLION OF CO SHARES​.NEW ON-MARKET PURCHASES BY RIO TINTO PLC WILL COMMENCE ON 27 DECEMBER 2017 AND WILL BE COMPLETED NO LATER THAN 31 DECEMBER 2018.RIO TINTO - ‍BALANCE OF $1.9 BILLION OF ADDITIONAL FUNDS BEING ALLOCATED TO RIO TINTO'S EXISTING ON- MARKET PURCHASES OF CO ORDINARY SHARES OF 10P EACH​.MAXIMUM NUMBER OF SHARES THAT MAY BE PURCHASED BY RIO TINTO PLC UNDER PROGRAMME IS 100 MILLION.  Full Article

Rio Tinto finance boss Chris Lynch to retire by end of September 2018
Friday, 15 Sep 2017 10:15am EDT 

Sept 15 (Reuters) - RIO TINTO PLC ::‍CHRIS LYNCH TO RETIRE AS RIO TINTO CHIEF FINANCIAL OFFICER​.‍RIO TINTO CHIEF FINANCIAL OFFICER CHRIS LYNCH HAS INFORMED BOARD THAT HE INTENDS TO RETIRE FROM HIS ROLE BY END OF SEPTEMBER 2018​.‍PLANNING FOR CHIEF FINANCIAL OFFICER SUCCESSION HAS BEEN IN PROGRESS AND A REPLACEMENT WILL BE ANNOUNCED IN DUE COURSE​.  Full Article

Turquoise Hill appoints Luke Colton as CFO effective Oct 9, 2017
Monday, 11 Sep 2017 05:00pm EDT 

Sept 12 (Reuters) - Turquoise Hill Resources Ltd :Turquoise Hill Resources Ltd - appointed Luke Colton as company's chief financial officer effective October 9, 2017.Turquoise Hill Resources Ltd - Colton has previously been with Rio Tinto.  Full Article

Rio Tinto completes divestment of Coal & Allied
Thursday, 31 Aug 2017 06:14pm EDT 

Sept 1 (Reuters) - Rio Tinto Ltd :Rio Tinto completes divestment of Coal & Allied.Yancoal takes over management of Rio Tinto's thermal coal business in Hunter valley region of New South Wales..Will receive total consideration of $2.69 billion for sale.Group's guidance for thermal coal production in 2017 has been revised to 13-14 million tonnes, from 17-18 million tonnes previously.Rio Tinto will use consideration received for general corporate purposes and group's capital allocation framework will be applied.Under terms of sale, Rio Tinto may also receive an additional royalty linked to coal price capped at $410 million."Taxable gain on disposal of these assets is expected to be largely offset by carried forward capital losses in Australia".Cash tax payable is expected to be relatively low compared to quantum of taxable gain.Says a further $90 million in royalty is expected before end of 2018.  Full Article

Rio Tinto says to sell Mason Resources Corp stake
Friday, 4 Aug 2017 09:00am EDT 

Aug 4 (Reuters) - Rio Tinto Plc ::RIO TINTO TO SELL MASON RESOURCES CORP. SHAREHOLDING.RIO TINTO HOLDINGS AND TURQUOISE HILL HAVE AGREED TO SELL, RESPECTIVELY 7.5 MLN COMMON SHARES AND 6.2 MLN COMMON SHARES OF MASON RESOURCES CORP.‍SALE AT A PRICE OF $0.20 PER SHARE IN CASH FOR AN AGGREGATE PURCHASE PRICE OF $2.7 MLN​.SHARES TO BE SOLD BY RIO TINTO HOLDINGS AND TURQUOISE HILL COLLECTIVELY REPRESENTED APPROXIMATELY 17.56 PER CENT OF OUTSTANDING MASON SHARES.‍AFTER GIVING EFFECT TO FOREGOING SALE, RIO TINTO WILL NO LONGER OWN (OR BE DEEMED TO BENEFICIALLY OWN) ANY MASON SHARES​.‍SALE OF MASON SHARES IS EXPECTED TO BE COMPLETED WITHIN NEXT SEVEN DAYS​.  Full Article

Rio Tinto posts HY underlying earnings of $3.94 bln vs $1.56 bln last year
Wednesday, 2 Aug 2017 02:15am EDT 

Aug 2 (Reuters) - Rio Tinto Ltd :HY underlying earnings $ 3,941 million versus $1,563 million a year ago.HY net earnings $3,305 million versus $1,713 million a year ago.HY sales revenues of $19.3 billion, $3.8 billion higher than 2016 first half.Declared interim dividend of 110 us cents per share, equivalent to $2.0 billion.Capital expenditure expected to remain at around $5.0 billion in 2017 and around $5.5 billion in each of 2018 and 2019.As at HY reduced net debt by $2.0 billion to $7.6 billion."Production guidance is unchanged from Q2 operations review".Says an increased share buy-back of $1.0 billion in Rio Tinto plc shares by end of 2017..Effective tax rate on underlying earnings of approximately 30 per cent expected in 2017.Heavy rainfall in Australia impacted volumes for iron ore and coking coal, while lower head grades at Oyu Tolgoi led to reduced copper volumes."Expects total cash returns to shareholders over longer term to be in range of 40 to 60 percent of underlying earnings in aggregate through cycle".Achieved $8.2 billion pre-tax in total operating cash cost improvements and reductions in exploration and evaluation expenditure compared with 2012 base.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 cycle.Expects Rio Tinto Limited to be in a position to pay fully franked dividends for foreseeable future.  Full Article

Glencore agrees to acquire 49 pct interest in Hunter Valley Ops
Thursday, 27 Jul 2017 07:41am EDT 

July 27 (Reuters) - Glencore Plc :SIGNED AGREEMENTS WITH YANCOAL AUSTRALIA REGARDING ACQUISITION OF A 49% INTEREST IN THE HUNTER VALLEY OPERATIONS (HVO) COAL MINE IN NSW.GLENCORE SIGNED AGREEMENTS TO FORM A JOINT VENTURE (JV) FOLLOWING YANCOAL’S ACQUISITION OF COAL & ALLIED (C&A) FROM RIO TINTO.WILL PAY CASH OF $1.14 BILLION PLUS 27.9% SHARE OF $240 MILLION NON-CONTINGENT ROYALTIES OVER 5 YEARS, 49% OF PRICE CONTINGENT ROYALTIES PAYABLE BY YANCOAL TO RIO TINTO.TO BUY 16.6% INTEREST IN HVO DIRECTLY FROM YANCOAL; CO TO WORK TO ACQUIRE MITSUBISHI'S 32.4% INTEREST IN HVO TO ACHIEVE GLENCORE’S 49% STAKE.HAS ALSO AGREED TO SUBSCRIBE FOR US$300M WORTH OF SHARES IN YANCOAL’S EQUITY RAISING.EXPECTS THE TRANSACTION TO CLOSE WITHIN SIX MONTHS.WILL PROVIDE OPERATIONAL AND SUPPORT SERVICES TO THE HVO JV.TRANSACTION WILL BE FUNDED FROM GLENCORE’S EXISTING CASH RESOURCES AND COMMITTED FACILITIES.TO BE EXCLUSIVE MARKETING AGENT FOR HVO COAL SALES INTO JAPAN, SOUTH KOREA, OTHER COUNTRIES EXCLUDING CHINA, TAIWAN , THAILAND AND MALAYSIA.COMBINED PORTFOLIO OF MINES IN THE HUNTER VALLEY, INCLUDING HVO, WILL HAVE COAL PRODUCTION CAPACITY OF 69 MILLION TONNES PER ANNUM.  Full Article

Rio Tinto signs MOU with Serbian government
Monday, 24 Jul 2017 07:35am EDT 

July 24 (Reuters) - RIO TINTO LTD ::SIGNED MEMORANDUM OF UNDERSTANDING WITH GOVERNMENT OF SERBIA IN RESPECT TO IMPLEMENTATION OF JADAR PROJECT.MOU TO ENABLE FORMATION OF JOINT WORKING GROUPS BETWEEN GOVERNMENT, CO TO PROGRESS JADAR PROJECT THROUGH STUDY AND PERMITTING PHASES, AS PER LAW.PROJECT IS CURRENTLY IN MIDDLE STUDY STAGES WITH OPERATION EXPECTED TO COMMENCE IN 2023.  Full Article

Rio Tinto records qtrly Pilbara iron ore shipments of 77.7 mt
Monday, 17 Jul 2017 06:28pm EDT 

July 18 (Reuters) - Rio Tinto Ltd :Qtrly pilbara iron ore shipments 77.7 mt versus 82.2 mt a year ago.Qtrly aluminium production 888 kt versus 911 kt last year.Qtrly pilbara iron ore production ‍79.8​ mt versus 80.9 mt last year.Share of production in 2017 is unchanged at 48 to 50 million tonnes of bauxite, 8.0 to 8.2 million tonnes of alumina and 3.5 to 3.7 million tonnes of aluminium.Qrly ‍shipments were impacted by accelerated rail track maintenance​.Qtrly mined copper production 124.7 kt versus 141 kt last year.Rio Tinto's expected pilbara shipments in 2017, subject to weather, are around 330 million tonnes on a 100 per cent basis..In 2017, rio tinto's expected share of mined copper production remains unchanged at between 500 and 550 thousand tonnes.Guidance for Rio Tinto's expected share of 2017 production for hard coking coal is revised to 7.2 to 7.8 million tonnes due to impact of cyclone Debbie.  Full Article

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Rio Tinto to increase share buybacks by $2.5 billion

LONDON/MELBOURNE Flush with cash, Rio Tinto said it would buy back an additional $2.5 billion worth of its shares, dishing out the proceeds from a sale of coal assets earlier than some had expected.