Key Developments: Rio Tinto PLC (RIO.L)

RIO.L on London Stock Exchange

24 Dec 2014
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-7.00p (-0.24%)
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Latest Key Developments (Source: Significant Developments)

Rio Tinto PLC and Sinosteel sign heads of agreement
Monday, 17 Nov 2014 02:00am EST 

Rio Tinto PLC:Rio Tinto and Sinosteel Corporation announces their intention to advance discussions for second extension to Channar Mining iron ore joint venture in Western Australia's Pilbara region.This followed the signing of heads of agreement at Parliament House in Canberra by Rio Tinto chief executive Sam Walsh and Sinosteel Corporation president Xu Siwei.Chinese President Xi Jinping and Australian Prime Minister Tony Abbott attended the signing.The Channar joint venture (Rio Tinto has 60 pct share, Sinosteel 40 pct) owns the Channar mine, 60 kilometres south of Tom Price in the Pilbara region. The operation is managed by Rio Tinto.Sinosteel has 100 pct offtake rights to Channar joint venture production.Timetable for reaching a mutually acceptable agreement for a second extension is before the end of the current extension term, which is currently expected to be during 2016.  Full Article

Rio Tinto completes Rio Tinto Coal Mozambique sale
Wednesday, 8 Oct 2014 03:02am EDT 

Rio Tinto:Says it has completed the sale of Rio Tinto Coal Mozambique to International Coal Ventures Private Ltd following the fulfilment of all conditions precedent and receipt of the necessary regulatory approvals.Says the sale, announced on July 30, comprises the Benga mine and other coal projects in the Tete province of Mozambique.  Full Article

Rio Tinto PLC agrees sale of coal assets Mozambique
Wednesday, 30 Jul 2014 02:02am EDT 

Rio Tinto PLC:Reached an agreement to sell Rio Tinto Coal Mozambique which comprises Benga coal mine and other projects in Tete province of Mozambique, to International Coal Ventures Private Limited (ICVL) for $50 mln.Assets were acquired by Rio Tinto as part of its acquisition of Riversdale Mining Ltd in 2011.Transaction is expected to close in Q3 of 2014.  Full Article

Rio Tinto completes sale of interest in Clermont Mine to Glencore and Sumitomo Corporation jointly owned entity GS Coal Pty Ltd
Monday, 2 Jun 2014 02:00am EDT 

Rio Tinto:Says it completed the sale of its 50.1 pct interest in the Clermont Joint Venture to GS Coal Pty Ltd, a company jointly owned by Glencore and Sumitomo Corporation, for $1.015 bln.Under the terms of the sale, Glencore has now taken over management of Clermont Mine, which produces thermal coal in central Queensland.  Full Article

Government of Guinea and its partners, Rio Tinto, Chinalco and the IFC signs Investment Framework for the project
Tuesday, 27 May 2014 02:01am EDT 

Rio Tinto PLC:Says it issues jointly on the May 26 by the Government of Guinea and its partners, Rio Tinto, Chinalco and the IFC in relation to signing of the Investment Framework for blocks 3 and 4 of the Simandou project.In connection with this signing, on May 26, certain Rio Tinto subsidiaries, including the joint venture company for the Simandou project Simfer Jersey Limited, entered into a separate agreement with Chalco Iron Ore Holdings Limited (CIOH), a subsidiary of Chinalco.Under the UK Listing Authority listing rules, each of CIOH and Simfer Jersey Limited are considered to be related parties of Rio Tinto plc and the agreement therefore falls within UK Listing Authority listing rule 11.1.10R.Agreement clarifies certain of the parties respective rights (including withdrawal rights) in relation to the project as a result of the development of the conventions referred to in the media release.As the conventions include specific termination rights by the government of guinea in respect of the project, the parties have also determined that any compensation received by Simfer Jersey Limited pursuant to such rights.Says if ever enacted, should be subsequently divided between the joint venture participants proportionate to their respective contribution to historical project costs.  Full Article

Government of Guinea and its partners, Rio Tinto, Chinalco and the IFC signs Investment Framework for the project
Monday, 26 May 2014 06:29pm EDT 

Rio Tinto:Says Conakry, the Government of Guinea and its partners, Rio Tinto, Chinalco and the IFC, signed the Investment Framework (IF) for blocks 3 and 4 of Simandou, the project.The Government of Guinea will submit the IF for the consideration of the Guinean National Assembly in order to seek its ratification.Once ratified the project partners will finalize, within about one year from ratification, the Bankable Feasibility Study which will confirm all the project parameters including cost and timeline.In parallel, the parties, under the leadership of Rio Tinto, are working together to assemble a consortium of investors who will finance, build and own the multi-user 650km railway and deep-water port infrastructure within the agreed timeframe.  Full Article

Emed Mining Public announces transfer of mining rights to Rio Tinto
Friday, 11 Apr 2014 09:45am EDT 

Emed Mining Public Ltd:Says transfer of the Mining Rights (AS) for the Rio Tinto Copper Project owned by Emed Mining Public (EMED) Mining through its Spanish subsidiary EMED Tartessus.  Full Article

Rio Tinto PLC announces final dividends
Friday, 14 Mar 2014 04:00am EDT 

Rio Tinto PLC:Says final dividends of 65.82 pence or 120.14 australian cents per share will be paid on April 10.  Full Article

Rio Tinto PLC in talks to sell Quebec aluminum plant - Reuters
Monday, 27 Jan 2014 07:47pm EST 

Rio Tinto PLC:A small Canadian aluminum producer is in talks to take over Rio Tinto Alcan's aluminum casthouse in Shawinigan, Quebec, rescuing the plant from closure at the end of this year, the fund's project leader told reuters - Reuters.Sotrem, a company based in Saguenay, Quebec, that makes aluminum foundry alloys and deox, is leading the deal to buy the plant.The terms of the transaction were not disclosed.  Full Article

Trafigura agrees off-take deal for Rio Tinto Plc's Oyu Tolgoi mine-Reuters
Monday, 16 Dec 2013 04:26pm EST 

Rio Tinto Plc:Trafigura has agreed to provide financing for the massive Oyu Tolgoi mine in Mongolia in exchange for a long-term deal to buy an undisclosed portion of the output-Reuters.Rio Tinto, majority owner and operator of Oyu Tolgoi, copper and gold mines, has spent months wrangling with the Mongolian government about plans to expand from an open pit into an underground operation.Trafigura referred to the off-take deal in its first fully public annual report since being set up 20 years ago.  Full Article

Japan Q1 aluminium talks to drag on as buyers refuse higher premiums

TOKYO, Dec 26 - Quarterly pricing negotiations between Japanese aluminium buyers and global miners are set to continue next month as buyers are refusing to pay higher premiums for January-March shipments, five sources said on Friday.

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