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Rio Tinto PLC (RIO.L)

RIO.L on London Stock Exchange

3,429.50GBp
18 Aug 2017
Change (% chg)

0.00 (+0.00%)
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3,429.50
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Latest Key Developments (Source: Significant Developments)

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

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

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

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

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

Rio Tinto says gets Glencore proposal, to respond in due course
Monday, 12 Jun 2017 02:00am EDT 

June 12 (Reuters) - Rio Tinto Plc::‍Rio Tinto board and management will give proposal appropriate consideration and respond in due course​.Acknowledges has received proposal from Glencore to acquire rio tinto's wholly-owned australian unit , Coal & Allied Industries Limited​.  Full Article

Rio Tinto says signs agreement for exploration collaboration
Tuesday, 6 Jun 2017 07:35am EDT 

June 6 (Reuters) - Rio Tinto Plc ::Co and Minmetals have signed a heads of agreement (HoA) to discuss opportunities for potential collaboration in mineral exploration.HoA sets out the principles and framework for a potential mineral exploration collaboration, both inside and outside China.Co and Minmetals will now work to establish joint teams to start the process of identifying targets for potential exploration collaboration.  Full Article

Rio Tinto launches debt reduction programme for up to $2.5 bln
Monday, 22 May 2017 08:23am EDT 

May 22 (Reuters) - Rio Tinto Plc ::Rio Tinto launches new debt reduction programme.Launches new debt reduction programme for up to $2.5 billion.Rio Tinto will use its strong liquidity position to further reduce gross debt.Rio Tinto has issued a redemption notice for approximately $1.72 billion of its 2019 and 2020 US dollar-denominated notes.Commenced cash tender offers to purchase up to approximately $781 million of its five 2021, 2022 and 2025 US dollar-denominated notes.  Full Article

BRIEF-Rio Tinto says to sell Mason Resources Corp stake

* 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