Rio Tinto Says Australian Mining Tax Divorced From Commercial Reality
16th Jun 2010 03:57
MELBOURNE (Dow Jones)--Rio Tinto Ltd. (RTP) renewed its attack Wednesday on the Australian government's planned mining tax, which it says is divorced from commercial reality, penalised efficient operations and would slow investment and cost jobs. In a letter to shareholders, Chairman Jan du Ples
Read moreMARKET TALK: Aussie Mining Lobby Launches New Ad Blitz
16th Jun 2010 02:44
0144 GMT [Dow Jones] Minerals Council of Australia launches next leg of campaign against government's proposed 40% mining profits tax: tv ad blitz featuring "real" Australians affected by the tax uncertainty. Perhaps seeking to downplay last week's protest in Perth--where some of Australia's richest
Read moreMARKET TALK: Rio Tinto Will Play Hardball On Iron Ore - Citi
16th Jun 2010 02:26
0126 GMT [Dow Jones] Rio Tinto (RIO.AU) Iron Ore CEO Sam Walsh tells analysts the company will play hardball if any Chinese steel mills try to renege on quarterly iron ore pricing arrangements, Citi says. "It will cancel quarterly agreement and charge on a pure spot basis, leaving mills with large
Read moreLondon close: Higher finish for FTSE 100
15th Jun 2010 16:39
British Satellite Broadcasting (BSkyB) was in focus Tuesday, climbing more than 16% to help Footsie to a higher finish after an offer from News Corp. News Corporation, the vehicle of media magnate Rupert Murdoch, is fed up being a 39.1% minority shareholder in BSkyB and wants to gain full control o
Read moreMARKET TALK: Rio Tinto Eagle Mine Investment Good - Investec
15th Jun 2010 16:18
1518 GMT [Dow Jones] Rio Tinto PLC's (RTP) $469M investment to develop the US-based Kennecott Eagle nickel and copper mine was expected and reaffirms the company's belief that long-term demand recovery is underway, says Rebecca O'Dwyer of Investec. Adds: "It's Rio Tinto's first major nickel developm
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
15th Jun 2010 16:18
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 1518 GMT [Dow Jones] Rio Tinto PLC's (RTP) $469M investment to develop the US-based Kennecott Eagle nickel and copper mine
Read moreRio Tinto To Invest $469M In US Eagle Nickel, Copper Mine
15th Jun 2010 15:51
By Alex MacDonald Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Anglo-Australian miner Rio Tinto PLC (RTP) Tuesday said it will invest $469 million to build the Kennecott Eagle nickel and copper mine in Michigan, U.S. after receiving the final environmental approvals for the project. Rio T
Read moreRio Tinto pumps $469m into Eagle mine
15th Jun 2010 15:35
Rio Tinto is to spend $469m (£317m) building the Kennecott Eagle nickel and copper mine in Michigan's Upper Peninsula after receiving final environmental approvals. The money will fund construction of a new underground mine, surface facilities for servicing the mine, rehabilitation of an existing m
Read moreRio Tinto To Invest $469M In Developing Kennecott Eagle Mine
15th Jun 2010 14:42
LONDON (Dow Jones)--Rio Tinto PLC (RIO.LN), an international mining group, said Tuesday it will invest $469 million in constructing the Kennecott Eagle nickel and copper mine in Michigan's Upper Peninsula following receipt of final environmental approvals. MAIN FACTS: -Construction of the m
Read moreAustralia's PM Says Mining Tax Idea Was Raised In 2008
15th Jun 2010 09:18
CANBERRA (Dow Jones)--Australian Prime Minister Kevin Rudd Tuesday said the country's mining sector shouldn't have been surprised by a planned new tax regime for the resources industry, given it was one of the ideas raised by the chief architect of the tax as far back as 2008. Rudd's comments co
Read moreMARKET TALK: S&P/ASX 200 Up 0.1%; Should Test Higher-Trader
15th Jun 2010 07:02
0602 GMT [Dow Jones] S&P/ASX 200 should test higher levels in the short term, says Cityindex dealer James Persson. "While the U.S. equities market did pull back fairly sharply from its highs last night, the currency market is still indicating that there's a fairly bullish view out there...I think we
Read moreBG Group Holds "Productive" Talks With Australia Government On Mining Tax
15th Jun 2010 05:59
CANBERRA (Dow Jones)--BG Group PLC (BG.LN) met with Australian Prime Minister Kevin Rudd Tuesday to discuss the potential impact of a new 40% tax on resource industry "super profits" on the emerging coal-seam gas sector. It comes as the BG Group board is preparing to make a final investment deci
Read moreMARKET TALK: Downgrades Priced Into Aussie Equities -Citi
15th Jun 2010 02:20
0120 GMT [Dow Jones] Earnings downgrades have been priced into the Australian equity market, so current market levels are a genuine buying opportunity, according to Citi analysts. "We believe the equity market is currently pricing in almost no earnings growth over the next year," says Citi. "With ea
Read moreWA Premier Says BHP, Rio Tinto Deal On Royalties Close - Report
14th Jun 2010 22:36
SYDNEY (Dow Jones)--Western Australian Premier Colin Barnett has said BHP Billiton Ltd. (BHP) and Rio Tinto Ltd. (RTP) have agreed to pay an extra A$300 million in mining royalties but are still in talks to gain more concessions, says a report in Tuesday's Australian Financial Review. Barnett wa
Read moreChile Mining Sector To Benefit From Australia Tax Changes-Minister
14th Jun 2010 12:36
(This article was originally published Friday.) SANTIAGO (Dow Jones)--The Chilean mining industry stands to benefit from the stir the proposed Resource Super Profits Tax is causing among miners in Australia, said Chile's Mining Minister, Laurence Golborne. Mining companies including Anglo-A
Read more