INTERVIEW: Alcoa CEO Says Saudi Smelter Financing Nearly Done
16th Jun 2010 09:35
By Andrea Hotter Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Financing for Alcoa Inc.'s (AA) vast aluminum project in Saudi Arabia is almost complete, with local banks providing the lion's share, the chief executive of the U.S. producer told Dow Jones Newswires. The project, a joint ven
Read moreRio Tinto warns again over Aussie 'super tax'
16th Jun 2010 08:41
Rio Tinto has had another moan about the proposed Australian 'super tax' on the mining industry and tried to clear up speculation about the amount of tax it has actually paid Down Under. "Your board has serious concerns about the impact of this proposed new tax, not only for Rio Tinto and the minin
Read more3rd UPDATE: Australia Government Hails Progress But Miners Say Little Headway In Mining Tax Talks
16th Jun 2010 06:43
(adds comment from PM, BHP, Rio, Xstrata) By Alex Wilson and Rachel Pannett OF DOW JONES NEWSWIRES MELBOURNE (Dow Jones)--Australia's government signalled Wednesday it will consider varying the way its planned new mining tax is applied to some sectors of the resources industry, but min
Read moreMARKET TALK: S&P/ASX 200 Up 1.2%; Cyclicals Remain Firm
16th Jun 2010 06:13
0513 GMT [Dow Jones] S&P/ASX 200 up 1.2% at 4556.9 after fading from 4-week high of 4572.4 on light volume. Cyclicals remain firm after offshore gains, with BHP (BHP.AU) up 2.0%, Rio (RIO.AU) up 2.4%, Qantas (QAN.AU) up 4.6%, Asciano (AIO.AU) up 4.4%, Brambles (BXB.AU) up 2.6%, Bluescope Steel (BSL.
Read moreBHP, Rio Tinto, Xstrata Met With Australian Government Wednesday
16th Jun 2010 05:15
CANBERRA (Dow Jones)--Mining giants BHP Billiton Ltd. (BHP.AU), Rio Tinto PLC (RIO.AU) and Xstrata PLC (XTA.LN) met with the Australian government in Canberra Wednesday to discuss a proposed 40% tax on resource sector "super profits" but appear no closer to any compromise deal. The meeting was a
Read moreRio 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
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