Rio Tinto Ltd (RIO.AX)
15 Dec 2017
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SYDNEY Global miner Rio Tinto signaled on Monday it will stick with its "value over volume" strategy, outlining further moves to boost shareholder returns and appointing a new chairman from within its board.
* Plans further measures to boost free cashflow (Recasts, adds CEO quote)
MELBOURNE, Dec 4 London copper held its ground on Monday, defying a stronger dollar to find support from resilient manufacturing demand in top consumer China. FUNDAMENTALS * COPPER: London Metal Exchange copper edged up by 0.1 percent to $6,841 a tonne by 0228 GMT, adding to 1.1 percent gains from the previous session. Prices last week fell by 2.4 percent trimming copper's advance for the year to 23 percent, still its largest advance since 2010. * SHFE: Shanghai
Anglo-Australian miner Rio Tinto Ltd said on Monday it expects capital expenditure of less than $4.5 billion in 2017 down from an earlier forecast of $5 billion, as it focuses on delivering better returns to shareholders.
Global miner Rio Tinto on Tuesday said it had lifted its third quarter iron ore shipments by 6 percent after modernizing its haulage railway in Australia's outback, but cut its production target for copper due to delays at a major mine in Chile.
* But cuts copper output guidance due to delays at Chile mine (Adds byline, analyst comment, detail on rail line and copper shipments)
QINGDAO, China China's largest physical iron ore trading platform expects its trade volumes, affected this year by volatile prices for the steelmaking commodity, to recover in 2018 and reach 100 million tonnes in the next five years, its president said.
LONDON/MELBOURNE Flush with cash, Rio Tinto said it would buy back an additional $2.5 billion worth of its shares, dishing out the proceeds from a sale of coal assets earlier than some had expected.
LONDON/MELBOURNE, Sept 21 Flush with cash, Rio Tinto said it would buy back an additional $2.5 billion worth of its shares, dishing out the proceeds from a sale of coal assets earlier than some had expected.