MARKET 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
Read moreRoyal Dutch Shell Appoints Guy Elliott Non-Executive Director
29th Jul 2010 07:57
LONDON (Dow Jones)--Oil major, Royal Dutch Shell PLC (RDSA) said Thursday it has appointed Guy Elliott, Chief Financial Officer of Rio Tinto PLC (RIO.LN) since 2002, as non executive director with effect from Sept. 1. -Royal Dutch shares closed Wednesday at 1787 pence valuing the company at GBP6
Read moreMARKET TALK: Rio-Chinalco Deal More About Relations Than Guinea
29th Jul 2010 03:36
0236 GMT [Dow Jones] While Guinea's 2.2 billion ton Simandou iron ore project clearly major prize for Rio Tinto (RIO.AU) and Chinalco (ACH), today's signing ceremony formalising MoU in Beijing more about direct relationship than attempt to consolidate position on project. Rio Tinto Iron Ore CEO Sam
Read moreVote For Opposition To Defeat Australian Mining Tax - Sydney Mining Club Chairman
29th Jul 2010 02:39
SYDNEY (Dow Jones)--Voting for Australia's opposition coalition in an election due Aug. 21 is the "only one option" left to Australia's mining industry after the "cave in" deal between major miners and the government on tax reform plans, the chairman of the Sydney Mining Club Julian Malnic said Thur
Read moreUPDATE: Energy Resources Of Australia 1H Profit Tumbles 82%
29th Jul 2010 00:56
(adds uranium price outlook) By Ross Kelly Of DOW JONES NEWSWIRES SYDNEY (Dow Jones)--Energy Resources of Australia Ltd. (ERA.AU) said Friday that its first half profit plunged 82% after the Rio Tinto Ltd. (RIO.AU) subsidiary and one of the world's biggest uranium producers encountered
Read moreEnergy Resources Of Australia 1H Profit Down 82% To A$22.7M
29th Jul 2010 00:03
SYDNEY (Dow Jones)--Energy Resources of Australia Ltd. (ERA.AU) said Friday that first half profit plunged 82% on lower sales volumes and uranium prices. Net profit for the six months to June 30 fell to A$22.7 million, from A$127.6 million in the previous corresponding period, missing UBS and J.
Read moreLondon close: Thumbs down for company updates
28th Jul 2010 16:36
Company updates gave traders plenty to mull over and after an uncertain start to the day, shares closed firmly in the red. Centrica slipped even after the British Gas owner's underlying interim profits jumped 65%. Earnings in the half-year to June rose to £886m from £537m on revenues of £11.7bn, ba
Read moreLondon afternoon: US durable goods blow for equities
28th Jul 2010 14:56
With US markets opening on a weak note leading stocks in London have continued their downward drift. US stocks fell back after US durable goods orders in June fell for a second successive month. June's 1% fall was in contrast to expectations of a rise of similar magnitude. Centrica is in retreat ev
Read moreLondon midday: Shares turn south
28th Jul 2010 12:17
Mining stocks are doing their bit to shore up the Footsie but the majority of leading shares are now in retreat, including most of the big names that issued corporate updates today. Higher metal prices boost demand for miners such as Xstrata, Vedanta and BHP Billiton. Rio Tinto is also wanted after
Read moreCORRECT:EARNINGS PREVIEW: Miners See Strong 1H,Eyes On Growth
28th Jul 2010 11:28
("EARNINGS PREVIEW: Miners See Strong 1H, Eyes On Organic Growth," published at 0743 GMT, missstated the spelling of Xstrata in the 13th paragraph. The correct version follows.) By Alex MacDonald Of DOW JONES NEWSWIRES TAKING THE PULSE: UK-listed miners are expected to deliver higher ea
Read moreMoody's Senior Credit Officer: Australia's MRRT Won't Impact Large Miner Profits Greatly
28th Jul 2010 07:02
SYDNEY (Dow Jones)--Australia's proposed Mineral Resources Rent Tax may dent investment but won't much affect the profitability of the largest mining companies, such as Rio Tinto Ltd. (RIO.AU) or BHP Billiton Ltd. (BHP.AU), Steven Hess, senior credit officer in the sovereign risk group at Moody's In
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