Edition:
United States

Rio Tinto PLC (RIO.L)

RIO.L on London Stock Exchange

4,142.50GBp
19 Jun 2018
Change (% chg)

-115.50 (-2.71%)
Prev Close
4,258.00
Open
4,150.00
Day's High
4,150.00
Day's Low
4,132.00
Volume
115,489
Avg. Vol
4,403,130
52-wk High
4,541.00
52-wk Low
2,970.00

Latest Key Developments (Source: Significant Developments)

Rio Tinto Appoints Jakob Stausholm To Succeed Chris Lynch As CFO
Tuesday, 12 Jun 2018 02:01am EDT 

June 12 (Reuters) - Rio Tinto Ltd ::HAS APPOINTED JAKOB STAUSHOLM TO SUCCEED CHRIS LYNCH AS CHIEF FINANCIAL OFFICER.STAUSHOLM WILL JOIN RIO TINTO AS AN EXECUTIVE DIRECTOR ON 3 SEPTEMBER 2018 AND TAKE OVER AS CFO ON SAME DAY.  Full Article

Rio Tinto Agrees Sale Of Kestrel Mine For $2.25 Billion​
Tuesday, 27 Mar 2018 09:15am EDT 

March 27 (Reuters) - Rio Tinto Ltd ::RIO TINTO AGREES SALE OF KESTREL MINE.RIO TINTO PLC - ‍RIO TINTO AGREES SALE OF KESTREL MINE TO EMR AND ADARO FOR $2.25 BILLION​.RIO TINTO PLC - DEAL COMPLETION IS EXPECTED TO OCCUR IN SECOND HALF OF 2018..RIO TINTO PLC - ‍BINDING AGREEMENT WITH A CONSORTIUM COMPRISING PRIVATE EQUITY MANAGER EMR CAPITAL AND PT ADARO ENERGY TBK.RIO TINTO PLC - ANTICIPATES THAT AUSTRALIAN INCOME TAX WILL BE PAYABLE ON SALE PROCEEDS WHICH ARE IN EXCESS OF COST BASE OF ASSETS AT COMPLETION.RIO TINTO PLC - CURRENTLY ESTIMATED TAX PAYABLE ON DEAL IS IN ORDER OF $0.5 BILLION, HOWEVER QUANTUM OF TAX PAYABLE WILL DEPEND ON FINAL PROCEEDS.  Full Article

Rio Tinto Launches New Debt Reduction Programme
Tuesday, 20 Mar 2018 07:28am EDT 

March 20 (Reuters) - Rio Tinto Ltd ::RIO TINTO LAUNCHES NEW DEBT REDUCTION PROGRAMME.‍WILL USE SOME OF ITS SURPLUS LIQUIDITY TO FURTHER REDUCE GROSS DEBT, LAUNCHING A BOND PURCHASE AND REDEMPTION PLAN FOR UP TO $2.25 BILLION EQUIVALENT..‍UNDER PLAN, RIO TINTO ISSUED REDEMPTION NOTICES FOR ABOUT $1.4 BILLION OF FOUR SERIES OF US DOLLAR-DENOMINATED NOTES MATURING IN 2021 AND 2022​.‍ANNOUNCEMENT IS PART OF GROUP'S ONGOING CAPITAL MANAGEMENT PLAN ​.  Full Article

Glencore Says To Acquire Hail Creek Coal Mine
Tuesday, 20 Mar 2018 03:57am EDT 

March 20 (Reuters) - Glencore Plc ::GLENCORE TO ACQUIRE HAIL CREEK COAL MINE.DEAL ‍FOR A TOTAL CASH CONSIDERATION OF US$1.7 BILLION​.‍ACQUISITION IS SUBJECT TO REGULATORY APPROVALS AND IS EXPECTED TO COMPLETE IN H2 2018​.JV PARTNER HAS RIGHT TO SELL SHARE TO CO, WHICH COULD RESULT IN ADDITIONAL CONSIDERATION OF UP TO US$340 MILLION​.‍ACQUIRE RIO TINTO'S 82% INTEREST IN HAIL CREEK COAL MINE AND ADJACENT COAL RESOURCES ​.TO ‍ACQUIRE RIO TINTO'S 71.2% INTEREST IN VALERIA COAL RESOURCE IN CENTRAL QUEENSLAND​.  Full Article

Rio Tinto To Sell Hail Creek And Valeria To Glencore for $1.7 Bln
Tuesday, 20 Mar 2018 03:57am EDT 

March 20 (Reuters) - Rio Tinto Ltd ::RIO TINTO AGREES SALE OF HAIL CREEK AND VALERIA.ENTERS INTO BINDING AGREEMENT WITH GLENCORE FOR SALE OF ITS ENTIRE INTERESTS IN HAIL CREEK COAL MINE AND VALERIA COAL DEVELOPMENT PROJECT.‍SALE INCLUDES RIO TINTO'S 82.0 PER CENT INTEREST IN HAIL CREEK OPERATING MINE AND ITS 71.2 PER CENT INTEREST IN VALERIA PROJECT​.‍DEAL FOR $1.7 BILLION​.‍SEPARATE PROCESS UNDERWAY TO SELL RIO TINTO'S REMAINING AUSTRALIAN COAL ASSETS​.COMPLETION EXPECTED IN SECOND HALF OF 2018.CURRENTLY ESTIMATED TAX PAYABLE ON SALE PROCEEDS IS IN ORDER OF $300 MILLION​.  Full Article

U.S. SEC Requests Court To Dismiss Rio Tinto, Two Former Execs' Complaint In Its Entirety‍​ - Court Filing‍​
Tuesday, 20 Mar 2018 01:42am EDT 

March 20 (Reuters) - :U.S. SEC REQUESTS COURT TO DISMISS RIO TINTO, TWO FORMER EXECS' COMPLAINT IN ITS ENTIRETY‍​ - COURT FILING‍​.  Full Article

Rio Tinto Says Committed To Domestic Power Solution For Oyu Tolgoi
Thursday, 15 Feb 2018 08:04pm EST 

Feb 16 (Reuters) - Rio Tinto Ltd ::‍CONTINUES TO WORK WITH PARTNERS TO DEVELOP BEST SOLUTION FOR DOMESTIC POWER SUPPLY FOR OYU TOLGOI OPERATION​.‍COST AND MEANS OF FINANCING PROJECT TO BE FINALISED BETWEEN SHAREHOLDERS; WILL CONTINUE TO REVIEW CAPEX FORECASTS FOR PROJECT​.  Full Article

Rio Tinto Appoints Royal Mail's CEO Greene As Non-Exec Director
Thursday, 15 Feb 2018 09:24am EST 

Feb 15 (Reuters) - RIO TINTO LTD ::‍APPOINTED MOYA GREENE AS AN INDEPENDENT NON-EXECUTIVE DIRECTOR. GREENE WILL JOIN BOARD IN SECOND HALF OF 2018​.‍PAUL TELLIER, NON-EXECUTIVE DIRECTOR SINCE 2007, INDICATED INTENTION TO STEP DOWN FROM BOARD AT CONCLUSION OF AGM ON 2 MAY.‍SEPARATE ANNOUNCEMENT CONFIRMING EFFECTIVE DATE OF GREENE'S APPOINTMENT WILL BE MADE IN DUE COURSE​.  Full Article

Rio Tinto Says "Oyu Tolgoi Underground Development On Track"
Wednesday, 7 Feb 2018 01:00am EST 

Feb 7 (Reuters) - Rio Tinto Ltd ::"OYU TOLGOI UNDERGROUND DEVELOPMENT ON TRACK".  Full Article

Rio Tinto Posts FY Underlying Earnings Of $8.63 Bln
Wednesday, 7 Feb 2018 01:00am EST 

Feb 7 (Reuters) - Rio Tinto Ltd ::FY NET EARNINGS $‍8,762​ MILLION VERSUS $4,617 MILLION A YEAR AGO.FY UNDERLYING EARNINGS $8,627 MILLION VERSUS $5,100 MILLION.CAPITAL EXPENDITURE EXPECTED TO REMAIN AT AROUND $5.5 BILLION IN 2018 AND AROUND $6.0 BILLION IN EACH OF 2019 AND 2020.2018 PRODUCTION GUIDANCE IS UNCHANGED FROM Q4 OPERATIONS REVIEW.NET DEBT AS AT DEC 31, 2017 US$ 3,845 MILLION.EFFECTIVE TAX RATE ON UNDERLYING EARNINGS OF ABOUT 30 PER CENT EXPECTED IN 2018.SAYS ‍ANNOUNCES FULL YEAR DIVIDEND OF $5.2 BILLION AND AN ADDITIONAL $1 BILLION SHARE BUY-BACK​.‍FINAL DIVIDEND 290.0 US CENTS PER SHARE ​.‍SEES "ADDITIONAL CUMULATIVE FREE CASH FLOW OF $5.0 BILLION FROM 2017 TO END OF 2021 FROM MINE TO MARKET PRODUCTIVITY IMPROVEMENTS"​.SEES ‍ADDITIONAL CUMULATIVE FREE CASH FLOW OF $0.3 BILLION IN 2018.‍TARGETING AN ANNUAL EXIT RATE FROM MINE TO MARKET PRODUCTIVITY IMPROVEMENTS OF AROUND $1.5 BILLION FROM 2021​.‍"THERE WAS A DEFERRED TAX ASSET WRITE-DOWN AT GRASBERG​".‍EXPECTS TOTAL CASH RETURNS TO SHAREHOLDERS OVER LONGER TERM TO BE IN RANGE OF 40 TO 60% OF UNDERLYING EARNINGS IN AGGREGATE THROUGH CYCLE​.  Full Article

Photo

Rio Tinto hires CFO from Danish shipper Maersk

Major miner Rio Tinto named Jacob Stausholm, formerly CFO of Danish shipping company A.P. Moller-Maersk, to replace outgoing financial boss Chris Lynch when he retires in September, the Anglo-Australian mining company said on Tuesday.