MaxMarioni
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Relating to RIO.L

Posted by MaxMarioni on 25 June 2017, 9:58 AM

Glencore Seeks Rio Tinto's Mines

Other Insights on Related Shares: GLEN.L, RIO.L

In continued negotiations for a deal that would see considerable upheaval in the global mining market, Glencore (GLEN:LN), the biggest coal miner in the Australasian region, has upped the ante in its pursuit of Rio Tinto's (RIO:LN) Hunter Valley mines. The Swiss commodity trading colossus has tabled an offer in the region of $225 million in excess of another offer, by Chinese firm Yanzhou Coal mining, which was already unofficially accepted by Rio Tinto's board. In addition to the raised bid, Glencore offered new incentives, such as a large deposit and hedges against regulatory delays, as well as clarifying issues concerning funding. (Read more)

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Other Insights on Related Shares: RIO.L
Related Shares: Rio Tinto Share Price

What a difference a year makes for the critical evaluation of a stock's performance. Last year, Rio Tinto, the second biggest mining company in the world by market share, had reported a loss totalling US $866 million in its 2015 annual results. The stock nose-dived on the back of cutbacks on its dividend and concerns on its levels of debt. The Anglo-American mining giant seems to have really turned a corner now. In the words of the company's Chief Executive, J-S. Jacques: [Rio Tinto]'s results show we have kept our commitment to maximise cash and productivity from our world-class assets, delivering $3.6 billion in shareholder returns while maintaining a robust balance sheet. […] We enter 2017 in good shape.” (Read more)

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Other Insights on Related Shares: RIO.L
Related Shares: Rio Tinto Share Price

Rio Tinto, the second biggest mining company in the world by market share, has reported a loss in profits in its 2015 annual results. Underlying net earnings came in at US $4,540 million, a considerable drop of US$4765 from the total 2014 figures, with net losses totalling US $866 million. The Anglo-Australian company conceded that reduced prices on the raw materials it provides played a major effect on the results, reducing earnings by over 80%. This was partially offset, however, by US$ 2,007 millions gains due to favourable foreign exchange conditions. (Read more)

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