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Rio Tinto Ltd (RIO.AX)

RIO.AX on Australia Stock Exchange

64.65AUD
26 Jul 2017
Change (% chg)

$1.65 (+2.62%)
Prev Close
$63.00
Open
$64.78
Day's High
$65.07
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$64.48
Volume
3,026,226
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2,334,787
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$69.80
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$46.49

Latest Key Developments (Source: Significant Developments)

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

Washington Co to start talks with Canada gov't on Dominion takeover
Monday, 17 Jul 2017 09:55am EDT 

July 17 (Reuters) - :Washington Co, whose takeover bid has been accepted by Canada's Dominion Diamond <<>>, will continue search for new Dominion CEO, no timeline, Washington president Lawrence Simkins says.Simkins says taking Dominion Diamond private allows for longer timeline to invest in exploration to expand mine life.Simkins says will start process of talking to gov't of Canada on Dominion takeover on Monday, confident of approvals.Simkins says Washington has had initial discussion with Rio Tinto about its 60 percent stake in Diavik diamond mine, which is 40 percent owned by Dominion.Simkins says had no discussions with Dominion Diamond's shareholders on takeover.  Full Article

Rio Tinto recommends Yancoal offer for Coal & Allied
Wednesday, 28 Jun 2017 09:13pm EDT 

June 29 (Reuters) - Rio Tinto Ltd ::Address by the chairman."As such we continue to consider that proposed transaction with Yancoal is fair and reasonable".Board is recommending Yancoal's improved offer to shareholders based on greater transaction certainty and a higher net present value.Convened to approve sale of company's shareholding in Coal & Allied Industries Limited to Yancoal Australia Limited for US$2.69 billion​.  Full Article

Rio Tinto says Ann Godbehere appointed as senior independent director
Monday, 26 Jun 2017 06:38pm EDT 

June 27 (Reuters) - Rio Tinto Ltd :‍simon Thompson has been appointed chair of remuneration committee​.Ann Godbehere has been appointed as senior independent director on Rio Tinto Board.Ann Godbehere appointed as senior independent director, in which capacity she will lead process underway to appoint a new chairman to succeed jan du plessis.Ann godbehere joins remuneration committee and remains chair of audit committee.  Full Article

Rio Tinto says Ann Godbehere appointed as senior independent director
Monday, 26 Jun 2017 06:15am EDT 

June 26 (Reuters) - Rio Tinto Plc ::Ann Godbehere has been appointed as senior independent director.Ann Godbehere will lead process underway to appoint a new chairman to succeed Jan du Plessis.Simon Thompson has been appointed chair of remuneration committee.All of these appointments are with immediate effect.  Full Article

Yancoal Australia further amends its agreement to acquire Coal & Allied
Monday, 26 Jun 2017 05:44am EDT 

June 26 (Reuters) - Yancoal Australia Ltd :Has further amended its sale and purchase agreement to acquire 100 pct of Coal & Allied Industries associated royalty arrangements.Deal has additional value of $US240 million via updated royalty payments across five years.‍Purchase price remains US$2.45 billion, payable in full on completion​.Yankuang has also increased its financial support in relation to deposit arrangements in support of transaction.Yankuang will now provide a US$125 million bank guarantee towards deposit arrangements, in addition to US$100 million deposit.Yancoal has obtained New South Wales Government approvals required for transaction.  Full Article

Rio Tinto confirms Yancoal as preferred buyer for coal assets
Monday, 26 Jun 2017 05:14am EDT 

June 26 (Reuters) - Rio Tinto Plc ::Confirms Yancoal as preferred buyer of its thermal coal assets in Australia given high level of completion certainty and a further improved offer of $2.69 billion."Revised offer from Yancoal of $2.69 billion offers compelling value to our shareholders for our Australian thermal coal assets"- Rio Tinto CEO.Yancoal's most recent offer includes increased break fee amount provided by Yancoal's parent company, Yankuang, from $100 million to $225 million."Believe it is in best interests of our shareholders to take greater certainty of Yancoal's strong proposal"- Rio Tinto CEO.Board considered both of latest offers; recommending Yancoal's improved offer to shareholders.  Full Article

Shore Gold announces acquisition from Newmont
Friday, 23 Jun 2017 08:00am EDT 

June 23 (Reuters) - Shore Gold Inc :Shore gold announces acquisition from newmont to consolidate star‑orion south diamond project and earn‑in with rio tinto.Shore gold - rtec has agreed to subscribe for units of the corporation for an aggregate subscription price of $1 million at a price of $0.18 per unit.Shore gold- granted option agreement with rio tinto exploration canada with option to earn up to 60 percent interest in project.  Full Article

Rio Tinto Ltd completes $2.5 billion gross debt reduction
Thursday, 22 Jun 2017 06:53pm EDT 

June 23 (Reuters) - Rio Tinto Ltd ::Asx alert-Rio Tinto completes $2.5 billion gross debt reduction-RIO.AX.Since start of 2016, co has now reduced nominal value of outstanding bonds from approximately $21 billion to about $9.5 billion.Early redemption costs are expected to reduce underlying earnings by approximately $180 million in first half of 2017.Early redemption costs are expected to reduce cash flow from operating activities by approximately $260 million in first half of 2017.  Full Article

BRIEF-Story-I Ltd announces termination of acquisition

* Advises that it has mutually agreed with vendors of Mymac Australia Pty Ltd to terminate proposed acquisition Source text for Eikon: Further company coverage: