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Rio Tinto Ltd (RIO.AX)

RIO.AX on Australia Stock Exchange

63.61AUD
17 Aug 2017
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Latest Key Developments (Source: Significant Developments)

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

Rio Tinto says qtrly Pilbara iron ore shipments 82.2 mt
Monday, 18 Jul 2016 06:30pm EDT 

Rio Tinto Ltd : Rio Tinto releases second quarter production results . Q2 aluminium production 911 kt, +11% . Qtrly mined copper production 141.0 kt, +5% . Qtrly pilbara iron ore shipments (100% basis) 82.2 mt, +6% . For iron ore, rio tinto's expected pilbara iron ore shipments in 2016 are around 330 million tonnes (100 per cent basis), subject to weather conditions . 2016 expected share of production remains unchanged at 45 million tonnes of bauxite, 7.8 million tonnes of alumina and 3.6 million tonnes of aluminium . In 2016, Rio Tinto continues to expect its share of mined copper production to be between 575 and 625 thousand tonnes . Qtrly pilbara iron ore production (100% basis) 80.9 mt, up 8 percent . FY refined copper production is also unchanged at 220 to 250 thousand tonnes .  Full Article

Turquoise Hill Resources announces Q2 production for Oyu Tolgoi mine
Monday, 18 Jul 2016 05:00pm EDT 

Turquoise Hill Resources Ltd : Continues to expect Oyu Tolgoi to produce 175,000 to 195,000 tonnes of copper in concentrates for 2016 . Continues to expect Oyu Tolgoi to produce 255,000 to 285,000 ounces of gold in concentrates for 2016 . Copper production in Q2'16 declined 10.3% over Q1'16 . Gold production in Q2'16 declined approximately 52% over Q1'16 . Turquoise Hill announces second quarter 2016 production .In second half of 2016, lower gold production is expected as mining occurs in areas with reduced grades.  Full Article

Bougainville Copper says received notification from Rio Tinto terminating management agreement
Monday, 4 Jul 2016 10:56pm EDT 

Bougainville Copper Ltd : Independent state of papua new guinea taken up its 17.4% entitlement to Bougainville Copper shares under arrangements established by Rio Tinto .Says BCL has received notification from Rio Tinto terminating the management agreement.  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: