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Rio Tinto PLC (RIO.N)

RIO.N on New York Stock Exchange

39.82USD
28 Apr 2017
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Latest Key Developments (Source: Significant Developments)

Rio Tinto says Q1 Pilbara Iron ore shipments 76.7 MT vs 87.7 MT in prior quarter
Wednesday, 19 Apr 2017 06:53pm EDT 

April 20 (Reuters) - Rio Tinto Ltd -:Qtrly Pilbara Iron ore shipments 76.7 mt versus 87.7 mt in prior quarter.Q1 mined copper production 84.2 kt versus 133.8 kt in prior quarter.Qtrly pilbara iron ore production 77.2 mt versus 85.5 mt in prior quarter.Q1 aluminium production 889 kt versus 925 kt in prior quarter.Rio Tinto's expected Pilbara shipments in 2017 remains at between 330 and 340 million tonnes (100 per cent basis).In 2017, Rio Tinto's expected share of mined copper production has been revised to between 500 and 550 thousand tonnes (previously 525 to 665 thousand tonnes).Share of production in 2017 is expected to be 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.Damage to rail lines caused by Cyclone Debbie in queensland is expected to impact timing, and potentially volume, of shipments from hail creek over course of year."An explosion in one of carbon monoxide gas service plants in sorel-tracy occurred on 30 march 2017.".Incident is not expected to have a material impact on full year production.."Expected that operations in escondida will ramp-up to normal production levels by july 2017".  Full Article

Antipa Minerals says Rio Tinto Exploration Pty elects to proceed to stage 2 of Citadel farm-in
Tuesday, 11 Apr 2017 08:01pm EDT 

Antipa Minerals Ltd : Rio Tinto elects to proceed to stage 2 of Citadel farm-in . Rio Tinto Exploration Pty Limited has confirmed that it will continue to stage 2 of the $60 million citadel project farm-in .Rio Tinto to become operator of the Citadel project joint venture.  Full Article

USW Members Ratify Contract with Rio Tinto Kennecott Mine
Wednesday, 5 Apr 2017 03:28pm EDT 

Rio Tinto Ltd : United Steelworkers - Members of United Steelworkers (USW) local 392 in Salt Lake City, Utah, ratified a new five-year contract with Rio Tinto .United Steelworkers -Agreement includes annual wage increases, increased funding for employee benefit,retirement plans, health care improvements,among others.  Full Article

Rio Tinto to pay additional tax after amended income tax assessments
Wednesday, 5 Apr 2017 06:57am EDT 

Rio Tinto Plc - : Australian Commissioner Of Taxation has issued amended income tax assessments to Rio Tinto for calendar years 2010 to 2013 . Amended income tax assessments require co to pay additional tax of A$379 million plus interest of A$68 million, a total of A$447 million . Amended assessments do not relate to any tax avoidance schemes as confirmed by Australian tax office . Issue in dispute is pricing of certain transactions between Rio Tinto entities based in Australia and group's commercial centre in Singapore . Considers that its pricing is in accordance with internationally recognised OECD guidelines and Australian domestic law . Rio Tinto will challenge amended tax assessments, but will pay 50 percent of total amount to ATO this month . Seek double taxation relief in accordance with Australia-Singapore double tax treaty. .Transfer price in dispute is in line with an outcome agreed by ATO for years prior to 2010.  Full Article

Rio Tinto says Jan du Plessis to retire as chairman
Thursday, 9 Mar 2017 02:05am EST 

Rio Tinto Plc : Says chairman Jan du Plessis has informed board that he intends to retire as chairman after completion of an orderly succession process . Planning for chair succession by board commenced in June 2016 after announcement of appointment of J-S Jacques as CEO . Senior independent director John Varley is leading process to appoint a new chairman . Says successor expected to be announced before end of 2017 . Du Plessis retiring as chairman by no later than 2018 annual general meeting in australia .Du Plessis will join BT Group board as a non-executive director on June 1, 2017 and become chairman of BT effective Nov 1, 2017.  Full Article

Rio Tinto enters non-discretionary irrevocable instructions with banks on share-repurchase of up to £160 mln
Wednesday, 1 Mar 2017 02:00am EST 

Rio Tinto Ltd :Entered non-discretionary irrevocable instructions with each of Deutsche Bank AG, J.P. Morgan Securities in relation to repurchase of shares from today until 28 July for up to £160 million.  Full Article

Rio Tinto says full-year net earnings $4.62 bln
Wednesday, 8 Feb 2017 01:00am EST 

Rio Tinto Ltd : Operating cash cost improvements (including exploration and evaluation savings) of $2.0 billion (pre- tax) over 2016 and 2017, in line with previous guidance . Rio tinto ltd says full-year net earnings $4.617 billion versus loss of $866 million a year ago . fy underlying earnings $5.1 billion versus $4.54 billion a year ago . Final dividend of 125 us cents per share ($2.3 billion) will be paid in april 2017 . Capital expenditure expected to be around $5.0 billion in 2017 and around $5.5 billion in each of 2018 and 2019 . "Gearing ratio of 20 to 30 per cent through cycle." . production guidance is unchanged from q4 operations review. . effective tax rate on underlying earnings of approximately 27 to 30 per cent expected in 2017. . "gearing ratio of 20 to 30 per cent through cycle." . Net debt as of dec 31 reduced to $9.6 billion . Additional free cash flow of $5.0 billion by end of 2021 from productivity improvements. . Full year dividend of 170 us cents per share . "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." . share buy-back of $0.5 billion in rio tinto plc shares over course of 2017 ."regulatory investigations could ultimately "expose group to material financial cost".  Full Article

Arianne Phosphate Inc signs project agreement with Rio Tinto to review potential maritime services sharing
Wednesday, 25 Jan 2017 07:30am EST 

Arianne Phosphate Inc : Arianne Phosphate Inc says signing of a project agreement with Rio Tinto to review potential maritime services sharing . Arianne Phosphate - agreement provides for discussions on co's use of ships serving Rio Tinto to deliver phosphate concentrate to international markets .Arianne Phosphate Inc - project agreement also focuses on sharing of common services such as ship towing on Saguenay River.  Full Article

Rio Tinto's qtrly Pilbara iron ore shipments 87.7 Mt vs 80.9 Mt in prior quarter
Monday, 16 Jan 2017 05:01pm EST 

Rio Tinto Ltd : Qtrly pilbara iron ore shipments 87.7 mt versus 80.9 mt in prior quarter . Rio tinto ltd says qtrly pilbara iron ore production 85.5 mt versus 83.2 mt in prior quarter . Qtrly aluminium production 925 kt versus 924 kt in prior quarter . Qtrly mined copper production 133.8 kt versus 133.3 kt in prior quarter . Rio tinto's pilbara shipments in 2017 are expected to be between 330 and 340 million tonnes . In 2017, Rio Tinto's share of mined copper production is expected to be between 525 and 665 thousand tonnes . For 2017, Rio Tinto's share of production in 2017 is expected to be 48 to 50 million tonnes of bauxite .Rio Tinto's share of production in 2017 is expected to be 8.0 to 8.2 million tonnes of alumina and 3.5 to 3.7 million tonnes of aluminium.  Full Article

Rio Tinto responds to press speculation regarding SEC investigation
Thursday, 1 Dec 2016 02:00am EST 

Rio Tinto Ltd : Response to press speculation . confirms it is cooperating with inquiries from relevant authorities relating to impairment included in company's 2012 accounts in respect of rio tinto coal mozambique ."as sec investigation, which started in april 2013, remains ongoing it would be inappropriate to comment further at this time".  Full Article

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Guinea will not accept any big changes to Chinalco iron ore deal

CONAKRY Guinea will not accept any major changes to the terms of the Simandou iron ore project that Chinalco bought from Rio Tinto, including building a 650-km railway rather than taking a shorter route via its neighbors, the mines minister said on Wednesday.