Key Developments: Rio Tinto Ltd (RIO.AX)

RIO.AX on Australia Stock Exchange

56.41AUD
21 Nov 2014
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Latest Key Developments (Source: Significant Developments)

Rio Tinto Ltd to suspend production at Gove alumina refinery
Thursday, 28 Nov 2013 05:28pm EST 

Rio Tinto Ltd:Says that it will move to suspend alumina production at Gove and focus on its bauxite operations after determining the refinery is no longer a viable business in the current market environment.Says it will work on the scope and phased timing of suspension and prepare for all potential outcomes over coming months.Says the company will be consulting with employees and the community in coming weeks to develop detailed plans regarding the timing and phases for ramping down the refinery.Says there will be no immediate change to refinery operations.Says at this early stage, it is expected the process of suspending production would start in the first quarter of 2014 and be phased during the year.  Full Article

Mongolia Government Confident Of Resolving Oyu Tolgoi Disputes With Rio Tinto Ltd By December 31-Reuters
Tuesday, 1 Oct 2013 01:56am EDT 

Reuters reported that a Mongolian official said on October 01, 2013 that the government is confident it can resolve disputes with Rio Tinto Ltd over the $5 billion expansion of the Oyu Tolgoi copper and gold mine by December 31, the deadline for sealing financing for the project.  Full Article

Rio Tinto Ltd Comments On H1 2013 Profit Guidance-AAP
Monday, 5 Aug 2013 01:27am EDT 

Australian Associated Press reported that Rio Tinto Ltd is expected to post profit of over USD4 billion for first half of 2013, with strong iron ore sales to overcome predicted losses in other commodities.  Full Article

Rio Tinto Ltd And BHP Billiton To Spend $3 Billion To Build New Seawater Desalination Plant At Escondida Mine In Chile-AAP
Thursday, 25 Jul 2013 07:25pm EDT 

Australian Associated Press reported that Rio Tinto Ltd and BHP Billiton will spend USD3 billion (AUD3.26 billion) to build a new seawater desalination plant at the Escondida mine in Chile. Rio, which has a 30% stake in the mine, will contribute USD1.03 billion (AUD1.13 billion) and BHP Billiton, which has a 57% share and also operates the mine, will put in USD1.97 billion (AUD2.14 billion). The companies say the 2,500-litre-per-second facility will provide a sustainable supply of water for the new OGP1 copper concentrator approved in February 2012 to minimise Escondida's reliance on regional aquifers. Construction will start this month with commissioning scheduled for 2017. The project will include two pipelines, four high-pressure pump stations, a reservoir at the mine site and high voltage infrastructure to support the system. The remaining interests in the Escondida mine, located 3,100 metres above sea level and 170 kilometres southeast of the City of Antofagasta, are owned by JECO Corporation (10.0%) and JECO 2 Ltd (2.5%). Rio said its investment will be funded through the company's share of Escondida's cash flows. BHP gave no details on its funding source.  Full Article

Rio Tinto Ltd's Businesses Announces New Contracts
Thursday, 18 Jul 2013 05:32am EDT 

Rio Tinto Ltd announced that its Calibre Rail Pty Ltd has been awarded an EPCM contract valued at approximately $30 million by BHP Billiton Iron Ore for the execution of the Ore Car Repair Shop (OCRS) project at Mooka, 33km south of Port Hedland, Western Australia. The project will involve approximately 40 Calibre personnel for the duration. Work on the project has commenced and is expected to be completed in 2016. Calibre’s project scope covers the delivery of both rail and infrastructure components, including roads, track, signalling, communications electrical engineering, water supply and construction of the maintenance workshop, a warehouse and process equipment installation. Calibre Global has been awarded the Definitive Engineering Study (DES) for Rio Tinto’s Koodaideri Mine and Rail Projects, in Western Australia. Work on both studies is due for completion by the end of March 2014 and carries a combined value of approximately $30 million. As previously disclosed Calibre had already undertaken the earlier Rail Preliminary Engineering Study (PES), but was also subsequently contracted to undertake verification work on the Koodaideri Mine Project Preliminary Engineering Study (PES) that had been carried out by a third party. The DES works represent the initial phase of a potential multi-phase greenfield development of the Koodaideri Project, located approximately 35km to the north west of Rio Tinto’s Yandicoogina iron-ore operations in the East Pilbara.  Full Article

Rio Tinto Ltd Wins End To Human Rights Abuse Lawsuit In U.S.-Reuters
Sunday, 30 Jun 2013 06:01pm EDT 

Reuters reported that Rio Tinto Ltd has won the dismissal of a nearly 13-year-old U.S. lawsuit accusing the Anglo-Australian mining company of complicity in human rights abuses on the South Pacific island of Bougainville. Friday's ruling by a majority of an 11-judge panel of the 9th U.S. Circuit Court of Appeals ends litigation begun in 2000. Steve Berman, a lawyer for the Bougainville plaintiffs, did not immediately respond to requests for comment. Steve Berman, a lawyer for the Bougainville plaintiffs, did not immediately respond to requests for comment.  Full Article

Rio Tinto Ltd Opts To Retain Diamonds Businesses
Monday, 24 Jun 2013 02:00am EDT 

Rio Tinto Ltd announced that it has decided to retain its diamonds businesses after concluding a strategic review which considered a range of options, including potential divestment.  Full Article

Rio Tinto Ltd Agrees Sale Of Eagle Project To Lundin Mining Corp
Wednesday, 12 Jun 2013 06:32pm EDT 

Rio Tinto Ltd announced that it has reached a binding agreement to sell its Eagle project to Lundin Mining Corp for an estimated USD325 million in cash. This transaction is expected to close in the third quarter of 2013. The Eagle project in the Upper Peninsula of Michigan in the United States includes a high-grade underground nickel-copper mine and mill. Construction commenced in June 2010 and is approximately 55% complete.  Full Article

Marubeni Corp To Bid For Rio Tinto Ltd Australia Coal Stake-Reuters
Wednesday, 12 Jun 2013 04:59am EDT 

Reuters reported that Marubeni Corp is bidding for a 29% stake in Anglo-Australian miner Rio Tinto Ltd Coal & Allied unit, valued at an estimated $2 billion, two sources familiar with the process said.  Full Article

Glencore Xstrata PLC and Rio Tinto Ltd In Talks Over Australian Coal Assets-Reuters
Tuesday, 11 Jun 2013 03:25pm EDT 

Reuters reported that Glencore Xstrata PLC And Rio Tinto Ltd have held early-stage talks to consider a plan that could combine thermal coal assets in Australia. Rio Tinto and Glencore both declined to comment.  Full Article

Australia shares rise 1 pct on recovery in resources, BHP, Rio climb

SYDNEY, Oct 14 - Australian shares rose 1 percent on Tuesday, underpinned by a recovery in the resources sector as iron ore, copper and other base metals rebounded, though a survey showing a dip in business conditions curtailed buying.

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