IBTimes Australia : Rio Tinto Topic

Australian Stock Market Report – Midday 6/19/13

Wed, 19 Jun 2013 13:22:59 +1000

Australian shares are trading close to the highest levels of the day, with the All Ordinaries Index (XAO) up 0.5 per cent. There still is significant hesitation ahead of the Federal Reserve's statement on monetary policy due at 4am (AEST) tomorrow morning. Investors are hoping for further clarification on the US central bank's plans on stimulus in the future.

2 Companies Express Interest in Buying Rio Tinto’s $4B Iron Ore Operations in Canada

Wed, 19 Jun 2013 10:28:19 +1000

There are two miners that have expressed interest in purchasing Rio Tinto's (ASX: RIO) $4 billion iron ore operations in Canada.

Australian Stock Market Report – Afternoon 6/17/13

Mon, 17 Jun 2013 17:32:26 +1000

The Australian market had a very volatile start to the week, with stocks rallying strongly in the dying minutes of the session. Stocks slumped by as much as 1 per cent in the first hour of trade, only to steadily rise from 11am (AEST) onwards and spike in the final 30 minutes of trade. The All Ordinaries Index (XAO) closed 0.6 per cent higher.

Rio Australia Mines Being Eyed by China, India

Tue, 11 Jun 2013 14:54:54 +1000

Rio Tinto's coal assets in Australia are being eyed by suitors from China and India.

Australian Stock Market Report – Afternoon 6/5/13

Wed, 05 Jun 2013 18:19:44 +1000

The Australian share market was sharply sold off during Wednesday's trade as economic growth figures missed expectations and as Japanese stocks shed almost four per cent on Prime Minister Abe's growth strategy.

Rio draws up shortlist for Canada iron ore sale - sources

Mon, 03 Jun 2013 23:00:03 +1000

Mining group Rio Tinto Plc has drawn up a shortlist of half a dozen suitors for its majority stake in Canada's largest iron ore producer, sources with knowledge of the situation said on Monday.

Rio Tinto draws up shortlist for Canada iron ore sale - sources

Mon, 03 Jun 2013 22:14:04 +1000

Global miner Rio Tinto has received 13 to 15 initial bids for its majority stake in Canada's largest iron ore producer and has drawn up a shortlist of roughly half that number, sources with knowledge of the situation said.

Potential $18B Loss for Pilbara Iron Ore Producers as Commodity Price Skids Down to $112.90 per Tonne

Fri, 31 May 2013 10:33:23 +1000

Investors are leaving the iron ore industry as price of the key steel-making ingredient went down anew to $112.90 per tonne. The 22 per cent cut in iron ore price from the average price of $145 per tonne in the March quarter would result in $18 billion losses for iron ore producers in Pilbara.

Australian Stock Market Report –Afternoon 5/28/13

Tue, 28 May 2013 18:12:43 +1000

Investors have pushed the market slightly higher for the first time in six sessions, with the All Ordinaries Index (XAO) up by a modest 0.2 per cent or 12 pts to 4950.6.The moves have been indecisive so far this week, with the closure of US and UK markets due to holidays overnight.

Australian Stock Market Report – Afternoon 5/23/13

Thu, 23 May 2013 17:51:38 +1000

The Australian sharemarket had its worst day in two months, pushed lower by Ben Bernanke's much anticipated testimony before congress last night. The All Ordinaries index (XAO) slumped by 2 per cent, adding to yesterday's 0.27 per cent losses.

Asian Markets Rally after Fed Reassurance on Bond-Buying

Wed, 22 May 2013 14:48:35 +1000

US Fed chief Ben Bernanke testifies before Congress later in the day.

Nikkei Surges Above 15,000 Mark, Rest of Asia Mixed

Wed, 15 May 2013 14:38:19 +1000

The US dollar moves past the 102 yen mark, hovering closer to its 52-week high of 102.43 yen.

Nikkei breaks above 15,000 points on weak yen, dollar resilient

Wed, 15 May 2013 14:28:01 +1000

Asian share markets were mixed on Wednesday, with Australian equities dented by weakness in mining firms while Tokyo stocks surged to a 5-1/2-year high as Japanese exporters rallied after the yen's recent slide.

Australian Stock Market Report – Midday 5/15/13

Wed, 15 May 2013 12:58:53 +1000

Despite a stronger start to the session, the Australian market is slipping for the first time in six sessions. The All Ordinaries Index (XAO) is down 0.8 per cent or 44.1 pts to 5,158.4. Investors initially reacted to healthy gains from global sharemarkets overnight rather than Tuesday's federa...

Gina Rinehart Adds Another $100M to Wealth After Winning Rio Tinto (ASX: RIO) Lawsuit

Tue, 14 May 2013 08:27:41 +1000

Gina Rinehart, Australia's richest person, just added more money to her wealth. On Friday, she and another female billionaire were awarded $200 million after they won a lawsuit against Rio Tinto (ASX: RIO).

Japanese Stocks Rally as Dollar Breaks 100-Yen Mark

Fri, 10 May 2013 15:13:38 +1000

Japanese firms' shares zoom on the back of weak yen which is boosting exports.

China Demand for Iron Ore Makes Rio Tinto More Optimistic About Future

Thu, 09 May 2013 14:36:18 +1000

At last, mining giants such as Rio Tinto Plc and BHP Billiton Ltd are more than satisfied as they enjoy strong China's demand for iron ore. The industry leaders note that iron ore imports by the world's second economy jumped to the highest level in four months as the country has been recently witnessing the slow revival in the steel sector.

Australian Stock Market Report – Midday 5-9-13

Thu, 09 May 2013 13:23:30 +1000

The Australian market has extended its gains following much better than forecast job numbers and an unsurprising inflation report in China. The All Ordinaries Index (XAO) is up 0.2 per cent or 11.7 pts to 5,189.6, making it the third day of improvements this week. There were 50,100 jobs added in April, 34,500 of which were full-time positions. The unemployment rate eased from 5.6 per cent to 5.

Rio Tinto (RIO) Forecasts China’s Steel Demand to Hit 1B Tonnes in 2013

Thu, 09 May 2013 09:12:56 +1000

Rio Tinto (ASX: RIO) expects to benefit from the rising demand for steel by China with higher iron ore sales, a company executive said at an international conference in Singapore on Wednesday.

Asian Markets Rise After Strong China Trade Data

Wed, 08 May 2013 14:41:04 +1000

Asian markets continue to gain for the third day in the week.

Australian Stock Market Report – Midday 5-8-13

Wed, 08 May 2013 13:45:47 +1000

The Australian market is rising thanks to a better than expected Chinese trade surplus and US shares closing at record highs. The All Ordinaries index (XAO) is up 0.7 per cent or 35.8 pts to 5,158.5. A US$18.16bn trade surplus in China at 11.49am (AEST) pushed local shares slightly higher initially while the Australian dollar recorded a more obvious rise to US101.9 cents.

Australian Stock Market Report – Afternoon 5-7-13

Tue, 07 May 2013 18:22:32 +1000

The Reserve Bank of Australia's (RBA) somewhat surprise decision to cut rates for the first time this calendar year helped reduce market weakness. The All Ordinaries Index (XAO) slipped by just 0.2 per cent or 11 pts to 5,122.7. At around 2.45pm (AEST), the ASX200 index was up by 0.2 per cent while the Australian dollar hit a low of US101.

Australian Stock Market Report – Afternoon 5-6-13

Mon, 06 May 2013 17:27:30 +1000

The Australian share market has started the week's trade on a positive note, following a positive lead from Wall Street at the end of last week on the back of better than expected US Jobs numbers.

At least three killed in violent Guinea election protest

Sat, 04 May 2013 09:21:02 +1000

At least three people died on Friday on the second day of violent street protests that have swept the Guinean capital over the organisation of delayed legislative elections, witnesses and officials said.

Australian Stock Market Report – Midday 5-1-13

Wed, 01 May 2013 13:17:02 +1000

Local shares are slipping for the first time this week despite firmer global markets overnight. A lower than expected reading for China's official manufacturing PMI has kept investors in a selling mood. The All Ordinaries Index (XAO) is down 0.3 per cent or 18 pts to 5,150.6.

Rio Tinto Opens $2.2B Diamond Mine in Argyle That Will Produce 20 Million Carats a Year

Wed, 01 May 2013 10:33:17 +1000

Rio Tinto (ASX: RIO) opened on Tuesday its $2.2 billion diamond mine in Argyle, Kimberley, Western Australia with a tradition ceremony to ward off evil spirits.

BHP Gets Rid of Pinto Valley for $650m

Tue, 30 Apr 2013 09:32:52 +1000

BHP Billiton informed that it finally got rid of the Pinto Valley copper mine and a railroad in Arizona. The lucky buyer of these assets is Canada's Capstone Mining Corp. which is to pay as much as $650 million to the global mining giant.

Australian Stock Market Report – Midday 4-26-13

Fri, 26 Apr 2013 13:53:07 +1000

The Australian market is improving for the fifth straight trading session, making it the second longest winning streak of the year. The All Ordinaries Index (XAO) is up 0.1 per cent or 5.00 pts to 5,089.2. As long as the market holds on to the gains, shares would have improved by more than 3.5 per cent this week.

Australian Stock Market Report – Midday 4-24-13

Wed, 24 Apr 2013 13:18:22 +1000

Australian shares are 1.2 per cent higher at midday following a strong end to trade overnight and a weaker than forecast inflation reading. The All Ordinaries Index (XAO) is currently higher for the fourth straight day, making it the second longest winning streak of the year. The index is also above 5000.0 points.

In Paraguay, a rich conservative must now tackle poverty

Tue, 23 Apr 2013 06:14:03 +1000

For Horacio Cartes, a millionaire cigarette and soft drink magnate who won Paraguay's presidential election on Sunday, the challenge now is to run a country where most people can only dream of having a sliver of the wealth he does.