Rio Tinto Expects Strong Coking Coal Demand, High Prices
21st Jun 2010 05:31
MELBOURNE (Dow Jones)--Rio Tinto Ltd. (RIO.AU) said Monday it expects metallurgical coal prices to remain high, driven by strong global demand which it expects to grow at about 3% a year out to 2020. In a presentation to analysts, Rio Tinto Coal Australia Managing Director Bill Champion also gav
Read moreNovelis May Bid For Rio Tinto Alcan Unit - Report
21st Jun 2010 05:19
MUMBAI (Dow Jones)--Novelis Inc.--the Canadian unit of India's Hindalco Industries Ltd. (500440.BY)--may bid for the rolled products division of Rio Tinto Alcan, the Economic Times newspaper reported Monday, citing people familiar with the development. The rolled products division of Rio Tinto A
Read moreAustralian Regulator Sets New Date For Ruling On BHP, Rio Iron Ore JV
21st Jun 2010 02:26
MELBOURNE (Dow Jones)--Australia's competition regulator plans to announce its findings on the proposed iron ore joint venture between BHP Billiton Ltd. (BHP.AU) and Rio Tinto Ltd. (RTP) on July 22. The Australian Competition & Consumer Commission had suspended the timeline for its review while
Read moreAustralia Minister: Tax To Ensure Fair Price For Non-Renewable Resources
21st Jun 2010 00:55
CANBERRA (Dow Jones)--The Australian government's planned new 40% tax on mining profits will ensure a fairer distribution of the proceeds of a mining boom than current state-based royalties schemes, Assistant Treasurer Nick Sherry said Tuesday. The comments come as BHP Billiton Ltd. (BHP) and Ri
Read moreAustralia May Detail Queensland Coal-Seam Gas Progress--Report
19th Jun 2010 03:07
SYDNEY (Dow Jones)--The Australian government could announce progress on development of Queensland's coal-seam gas industry during a visit by Chinese customers in coming days, the Australian newspaper reported Saturday, without citing its sources. The newspaper also quoted an memorandum to membe
Read moreUPDATE: China Baosteel Accepts 3Q Iron Ore Term Price-Source
18th Jun 2010 10:31
(Adds calculation parameters for third-quarter iron ore term price offers, background.) By Chuin-Wei Yap Of DOW JONES NEWSWIRES BEIJING (Dow Jones)--Baosteel Group Corp., China's appointed negotiator in iron ore price talks with global mining majors, has accepted a 23% increase in the ir
Read moreChina Baosteel Accepts Third Quarter Iron Ore Price -Source
18th Jun 2010 09:12
BEIJING (Dow Jones)--Baosteel Group Corp., China's appointed negotiator in iron ore price talks with global mining majors, has accepted a 23% increase in the iron ore price for third-quarter contracts, a person familiar with the matter said Friday. "Baosteel doesn't have much of a choice in the
Read moreUPDATE: Australian Miners Tax Campaign Irks Greens, Pension Lobby
18th Jun 2010 05:31
(Adds comments by pensions funds lobby, minerals industry lobby) By Ray Brindal Of DOW JONES NEWSWIRES CANBERRA (Dow Jones)--Elements of a campaign by Australia's mining industry against a proposed tax increase on mining super profits were criticised Friday by the Greens political part
Read moreUPDATE: BHP's Main Iron Ore Rail Line To Port Hedland Closed After Incident
18th Jun 2010 02:28
(Adds comments by Western Australian police) By Alex Wilson Of DOW JONES NEWSWIRES MELBOURNE (Dow Jones)--BHP Billiton Ltd.'s (BHP) main rail line transporting iron ore to Port Hedland in the Pilbara region of Western Australia has been closed after an incident early Friday morning in
Read moreAustralian Miners Tax Campaign Fraudulent - Greens Leader
18th Jun 2010 02:08
CANBERRA (Dow Jones)--A campaign by mining companies against a proposed tax increase on mining super profits is fraudulent and the industry risks losing public support the longer it continues, Greens leader in Australia's Parliament Bob Brown said Friday. "It's a fraudulent campaign by the big m
Read moreMARKET TALK: S&P/ASX 200 Up 0.4%; Cyclicals Recover Early
18th Jun 2010 01:59
0058 GMT [Dow Jones] S&P/ASX 200 up 0.4% at 4543.4, hits 4556.3 as cyclicals recover from Thursday's pull-back and defensives also trade firmly after late recovery on Wall Street. Materials, financials and energy jump in early trading, with BHP (BHP.AU) up 0.6%, Rio (RIO.AU) up 1.2%, Origin (ORG.AU)
Read moreMARKET TALK: BHP's Key Iron Ore Rail Line Closed After Incident
18th Jun 2010 01:33
0033 GMT [Dow Jones] BHP Billiton (BHP.AU) says its main iron ore rail line in the Pilbara region of Western Australia has been closed after an "incident" early Friday morning. "The affected part of our main line rail from Newman to Port Hedland has been closed and all rail construction work has bee
Read moreMARKET TALK: Rio Tinto Back On The Investment Trail - UBS
18th Jun 2010 01:09
0009 GMT [Dow Jones] UBS says Rio Tinto's (RIO.AU) approval of the US$469 million Eagle nickel and copper mine is a further sign that the miner is spending on growth again after being in cash conservation mode in 2008/09. "While Eagle is a small project, we would look for Rio to increase its capital
Read moreLondon close: Seventh day of gains for Footsie
17th Jun 2010 16:46
London's blue chips rose for the seventh day running as BP took some comfort from the $20bn deal agreed with US president Obama. Banks also rallied on the new plans for City regulation set out yesterday. This afternoon, the coalition government also axed 12 projects costing £2bn, suspended another
Read moreMARKET TALK: Investec Securities Cuts Rio Tinto Target Price
17th Jun 2010 13:32
1232 GMT [Dow Jones] Investec Securities cuts Rio Tinto (RTP) target price to 4500p from 4750p. "We believe the company will generate strong free cashflow this year and forecast it will be in a net cash position by end 2011," Investec says. The brokerage reiterates the view that at its current level
Read more