London afternoon: Fire sale at BP continues
3rd Aug 2010 14:14
After yesterday's dramatic rise London is taking a pause for breath today and either digesting the steady stream of big company results already out this week or preparing for results from the giants of the insurance and banking sectors later this week. Insurance colossus Aviva , scheduled to releas
Read moreRio to invest extra $790m in iron ore operations
3rd Aug 2010 13:52
Rio Tinto said it will invest a further $790m in its drive to expand the annual capacity of iron ore operations in the Pilbara to 330 million tonnes. This brings total investment funds approved in recent weeks to $1bn. Rio Tinto chief executive Iron Ore and Australia Sam Walsh said the new invest
Read moreLondon close: Footsie fights back
3rd Aug 2010 09:28
Footsie fought hard to finish in the blue after easing back following yesterday's surge, and was just a whisker short of positive territory at trading's close. An improvement on Wall Street after a shaky start breathed life into London's leading share index. Insurance colossus Aviva , scheduled to
Read moreRio Tinto To Invest $170M In Next Stage Of Simandou Project
2nd Aug 2010 15:36
By Alex MacDonald Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Anglo-Australian miner Rio Tinto PLC (RTP) Monday said it had approved $170 million to further fund the construction of the rail and port infrastructure related to its flagship Simandou iron ore project in Guinea. The investme
Read moreRio Tinto earmarks $175m for Simandou
2nd Aug 2010 15:07
Rio Tinto is pumping another US$175m (£110m) into it Simandou iron ore project in Guinea to cover mine, rail and port infrastructure work. The miner, which finalised a joint venture deal for the project with Chinese state-owned miner Chinalco last week, has already spent $650m on exploration, commu
Read moreRio Tinto To Invest Further $170M In Simandou Iron Ore
2nd Aug 2010 14:12
LONDON (Dow Jones)--Rio Tinto PLC (RIO.LN), a metal and mineral production company announced Monday it has advanced to the next stage of developing its Simandou iron ore project in Guinea, approving $170 million of further funding for mine, rail and port infrastructure work. MAIN FACTS: -The
Read moreHEARD ON THE STREET: Mood Swing At Anglo American
2nd Aug 2010 06:30
This story was originally published Friday By Matthew Curtin A DOW JONES COLUMN With a stretched balance sheet, dysfunctional management, and unsolicited takeover approach, Anglo American PLC (AAL.LN, AAUKY) was not a happy company a year ago. Today, the mood has changed completely. But
Read moreHEARD ON THE STREET: Mood Swing At Anglo American
30th Jul 2010 15:39
By Matthew Curtin A DOW JONES COLUMN With a stretched balance sheet, dysfunctional management, and unsolicited takeover approach, Anglo American PLC (AAL.LN, AAUKY) was not a happy company a year ago. Today, the mood has changed completely. But reassuring as the resumption of its dividend an
Read moreCORRECT: Energy Resources Of Australia 1H Profit Tumbles 82%
30th Jul 2010 07:21
("=3rd UPDATE: Energy Resources Of Australia 1H Profit Tumbles 82%," at 0556 GMT, misstated the name of the broker in the 4th and last paragraphs, the 2nd UPDATE at 0324 GMT misstated the name in 4th paragraph, the UPDATE at 2356 GMT misstated the name in the 3rd paragraph and the story at 2303 GMT
Read moreUPDATE: Australia Opposition May Tweak Foreign Investment Laws
30th Jul 2010 06:47
(Adds detail, Abbott quotes, government quotes) By Rachel Pannett Of DOW JONES NEWSWIRES CANBERRA (Dow Jones)--Australia's opposition leader Tony Abbott said Friday his Liberal-National coalition of center-right parties could revise the country's foreign investment laws if it wins powe
Read moreMARKET TALK: S&P/ASX 200 Down 0.8% On US Leads, Macquarie Fall
30th Jul 2010 01:52
0051 GMT [Dow Jones] S&P/ASX 200 down 0.8% at 4488.7, as Macquarie's (MQG.AU) negative FY11 earnings guidance and disappointing Japanese industrial production add to downward pressure from modest falls on Wall Street and profit taking ahead of tonight's U.S. GDP and Sunday's China PMI. "Comments fro
Read moreMARKET TALK: Chalco Likely To Rise; Simandou Iron Ore Project
30th Jul 2010 01:28
0028 GMT [Dow Jones] Chalco (2600.HK) likely to rise on resuming trade today, on WSJ report parent Chinalco, Rio Tinto (RIO.AU) seal deal on joint development of Guinea iron-ore project; Chinalco will pay Rio Tinto, which holds 95% of Simandou project, US$1.35 billion through Chalco, over 2-3 years;
Read moreUPDATE: Chalco, Rio Tinto Seal Pact On Guinea Simandou Mine
29th Jul 2010 11:45
(Adds comments from Rio Tinto iron ore chief executive, background on Guinea government involvement) By Chuin-Wei Yap Of DOW JONES NEWSWIRES BEIJING (Dow Jones)--Chinese major Aluminum Corp. of China Ltd. (ACH), also called Chalco, and Anglo-Australian miner Rio Tinto PLC (RTP) set out t
Read moreChalco, Rio Tinto To Set Up Joint Venture Company For Simandou Mine
29th Jul 2010 09:12
BEIJING (Dow Jones)--Aluminum Corp. of China Ltd. (ACH) or Chalco, the listed unit of Aluminum Corp. of China, or Chinalco, will form a new joint venture with Anglo-Australian miner Rio Tinto PLC (RTP) to develop and operate the Simandou iron ore mine in Guinea, the two companies said Thursday.
Read moreRio and Chinese rubber-stamp West Africa JV
29th Jul 2010 08:57
Australia's Rio Tinto and Chinese state-owned miner Chinalco have formed a "powerful union" after the pair set up an iron ore joint venture in the West African state of Guinea. The binding agreement for the "world-class" Simandou project, signed by Rio chairman Jan du Plessis at a ceremony in the G
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