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RIO, RIO TINTO LIMITED
nipper
post Posted: May 10 2019, 12:00 PM
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.... iron ore giants Rio Tinto and BHP have moved to the top of the global pecking order thanks to the problems besetting its Brazilian rival, Vale.

Vale revealed overnight Wednesday (Australian time) that output of iron ore dropped by 11.1% year-on-year and sales slid more than 20% in the first quarter of 2019. That was due to the impact of the January 25 mine dam walls disaster at Brumadinho in the southern state of Minas Gerais and heavy rain in the north of the country – where the company’s biggest and most productive mines are based – which damaged transport links, slowed production and shipments and port operations.

The company said on Wednesday night, Australian time, that it produced 72.87 million tonnes of iron ore in the three months to March, down from 81.95 million tonnes in the first quarter of 2018, and just over 100 million tonnes in the December quarter of 2018. Vale’s iron ore sales dropped by 22.2% in the first quarter, to 55.42 million tonnes, from 71.22 a year ago and more than 81 million tonnes in the final three months of 2018. The company reaffirmed its previous guidance for iron ore and pellet production to be at the lower end of the range of 307 million tonnes to 322 million tonnes for 2019; down around 60 million tonnes from 2018.

One outcome of these falls is that Rio Tinto replaced Vale was the biggest iron ore miner in the world in the March quarter, even though its production fell. And Rio and BHP jumped above Vale in terms of sales. Rio produced 76 million tonnes of iron ore in the three months. Rival BHP produced 63.6 million tonnes, which was down on the year. Vale produced 72.87 million.

In terms of sales both Rio and BHP topped Vale for the first time. Vale’s iron ore sales were 55.42 million tonnes, Rio sold 69.1 million tonnes and BHP sold 62.8 million. Vale also sold 12.31 million tonnes of pellets, but even after adding those into its total, of 67.7 million tonnes, Rio Tinto was still Number 1.

Global iron ore prices eased on Wednesday, dipping 58 cents a tonne to $US95.57 a tonne for 62% Fe ore delivered to northern China, according to the Metal Bulletin Index.
www.sharecafe.com.au/2019/05/09/bhp-rio-overtake-embattled-vale/



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: early birds  
 
nipper
post Posted: Apr 12 2019, 07:00 PM
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"It is clear that the materials we produce will play an absolutely vital role in the transition to a low-carbon economy. Wind, solar and batteries all require the materials we produce.

An average onshore wind turbine contains nearly five tonnes of copper, and 160 tonnes of steel, and a typical electric vehicle has 80kg of copper and 36kg of nickel."

Jean-Sebastien Jacques, CEO, Rio Tinto



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Apr 9 2019, 11:41 AM
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Rio Tinto hit by another port fire
Stuart McKinnonThe West Australian
QUOTE
It seems bad luck has comes in threes for mining giant Rio Tinto with a fire understood to have damaged a screening facility at East Intercourse Island, part of its Dampier port operation in the Pilbara.

Rio has not yet confirmed the report but two WestBusiness sources reported a fire at the company’s Pilbara operations over the weekend.

The screening facility sorts lump iron ore from fines and is essential for Rio to ship its various products to customers.

The recent fire comes after a blaze damaged a similar facility at its Cape Lambert port operation in January, knocking out some of the mining giant’s shipping capacity.

And late last month, Rio was forced to close its Cape Lambert A terminal, which comprises four berths, after Cyclone Veronica damaged essential infrastructure.

The miner said last week that the damage at Port Lambert A, together with a fire at the screening plant at the port in January, would cost it about 14 million tonnes in lost shipping output this year.

But that figure is now likely to rise following the latest incident.

Rio is expected to make an announcement on the East Intercourse Island fire later today.


read more - https://thewest.com.au/business/mining/rio-...-ng-b881162592z



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Apr 7 2019, 12:02 PM
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Investors with $10 trillion in assets pressure miners over tailings safety
Cecilia Jamasmie
QUOTE
The Investor Mining & Tailings Safety Initiative has requested that over 600 resource companies, including major miners, reveal the safety records of their waste storage facilities, following the collapse of Vale’s Brumadinho dam in Brazil in January, which killed hundreds.

Following the disaster, a group of 96 institutional investors (representing more than $10.3 trillion assets under management) have written to 683 extractive companies seeking greater disclosure on the management of tailings storage facilities.

The companies addressed, including major names in the mining industry such as BHP, Rio Tinto, Anglo American, Glencore and Vale itself, have been given 45 days to publicly disclose their dams’ size, construction methods and safety records.

read more - http://www.mining.com/miners-challenged-ur...safety-records/

*Individualised letter to Mining company CEO/Chair*
https://www.churchofengland.org/sites/defau...Industry%20.pdf



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Apr 5 2019, 09:13 PM
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Mongolia lawmakers seek to rewrite Oyu Tolgoi deal
Munkhchimeg Davaasharav
QUOTE
* Group recommends 2015 Oyu Tolgoi expansion deal be scrapped

* Flagship project subject to repeated political disputes

* Any changes could undermine investor sentiment - advisor


https://www.shortman.com.au/stock?q=rio

Been a while since RIO's SP was circa $100.00/share - Sept 2008



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Mar 24 2019, 11:14 AM
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extract from Bloomberg article - https://www.bloomberg.com/news/articles/201...atter-australia
QUOTE
Following is a table of some of the companies and operations that may be affected by the cyclones.

COMPANY CYCLONE OPERATIONS PRODUCT REGION
Glencore Trevor McArthur River Zinc Northern Territory
South32 Trevor GEMCO Manganese Northern Territory
BHP Veronica Pilbara/Offshore WA Iron ore/oil Western Australia
Rio Tinto Veronica Pilbara Iron ore Western Australia
Fortescue Veronica Pilbara Iron ore Western Australia
Woodside Veronica NWS/Pluto LNG Western Australia
Chevron Veronica Gorgon LNG Western Australia
Santos Veronica Varanus/Devil Creek Gas Western Australia
Jadestone Veronica Stag Oil Western Australia
Barrick-Newmont Veronica Kalgoorlie Gold Western Australia


Might also impact IO prices - Mass evacuations as Brazil's Vale reports dam in danger of collapse - https://www.theage.com.au/world/south-ameri...324-p516zy.html



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


blacksheep
post Posted: Mar 8 2019, 11:22 AM
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Rio Tinto's shares take hit after two analyst downgrades

QUOTE
Iron ore mining giant Rio Tinto's (LON: RIO) shares dropped more than 7% on the London Stock Exchange Thursday, following two consecutive analyst downgrades.

On Wednesday, Swiss bank UBS lowered its Buy rating for Rio Tinto to Neutral, citing a possible downturn in iron ore prices over the next six months.

This was followed up Thursday by another downgrade — from Hold to Sell by French investment bank Société Générale (SocGen), which cut ratings for both Rio Tinto and BHP.

The hit comes just days after the miner's investors were handed a $4 billion special dividend or $2.43 cent a share, after posting its highest annual underlying earnings since 2014.


QUOTE
On a positive note, SocGen has increased their price target for Rio Tinto, while UBS kept the price target at 4,500 pence sterling.


read more - http://www.mining.com/rio-tintos-shares-ta...yst-downgrades/

Short alert Wednesday 6 March. Total short positions as at 1/3/2019 = 4.04%
QUOTE
Wed 6th Mar, 2019 2,023,112 371,216,214 0.54% 2,631,750 76.87%

https://www.shortman.com.au/stock?q=rio
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Feb 28 2019, 10:42 AM
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In Reply To: blacksheep's post @ Nov 28 2018, 01:42 PM

Nearology minnows SRI up 6.25% currently, while AZY is flat

QUOTE
Rio Tinto has finally pulled the covers off its rumoured big copper find in the remote Paterson province of the East Pilbara, revealing an encouraging discovery but one that is still in its infancy.

Releasing its 2018 full-year results yesterday, the mining giant also announced that drilling at its Winu project 130km north of Telfer had intercepted copper, gold and silver.

The company revealed it had drilled eight RC holes and 20 diamond holes between December 2017 and the end of last year for a total of 13,286m. Assay results revealed some wide intersections of vein-style mineralisation with grades above one per cent copper, 1g/t gold and up to 26.41g/t silver.

Rio said the mineralisation had been encountered beneath relatively shallow cover from 50-100m and remained open at depth and to the east, north and south.

However, it is yet to establish a resource estimate for the find.

Four holes covering 1409m have been completed since drilling resumed in mid-January with assay results pending.

Rio chief executive J-S Jacques described the Winu discovery as promising, although it was early days and more work needed to be done.

“But the initial results from the first phase of drilling are pretty encouraging, there is copper, there is gold, there is silver,” he said.

“And I’m really looking forward to the second phase and for sure we will keep you and the market updated.”

Speculation about the scale of Rio’s find in the East Pilbara went into overdrive late last year after it was revealed the company had set up an exploration camp at Winu, applied to upgrade roads to the location and planned to build an airstrip on site.

The activity has stoked hopes of belt-scale mineralisation across the Paterson province and prompted a scramble for land adjacent to Rio’s vast 11,000sqkm tenement package in the area.

Mr Jacques said the company had agreed to increase its investment at Winu, its adjacent tenements and joint venture licences to support drill work as part of the mining giant’s $US250 million global exploration spend this year, with a focus on copper.

https://thewest.com.au/business/mining/at-l...-ng-b881120449z



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Feb 28 2019, 10:15 AM
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In Reply To: blacksheep's post @ Feb 27 2019, 08:23 PM

QUOTE
Deutsche Bank rates RIO as Hold

2018 earnings were in line with Deutsche Bank's estimates. The broker observes the company's preference now appears to have switched to dividends as opposed to buybacks, with the first special dividend declared since 2006.

On the negative side, the Oyu Tolgoi copper project is now under review. The broker maintains a Hold rating and $82.50 target.




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: early birds  
 
nipper
post Posted: Feb 27 2019, 09:21 PM
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It’s raining dividends
QUOTE
Rio Tinto Limited (ASX: RIO) share price is likely to find support tomorrow morning after the miner declared a special dividend as it posted a consensus-beating underlying full year profit.

UK investors were the first to react to the news with the Rio Tinto’s London-listed shares jumping 1.9% at the open to 4,470 pence.

The miner said it would reward shareholders with a fully franked special dividend worth US$4 billion on top of its final dividend of US$1.80, which was the same amount it paid out last year although the weaker Australian dollar means Aussie shareholders should see around an 11% boost.

The total distribution Aussie shareholders will receive is nearly $5.90 per share. Add in its interim dividend plus all the franking credits and the stock has a whopping 11.4% yield for 2018 based on Wednesay’s closing share price! This doesn’t consider the share buybacks that Rio Tinto had undertaken.

The dividends will lift the total capital returns from Rio Tinto to a record US$13.5 billion as the miner’s coffers overflowed from asset sales, like the Grasberg copper mine in Indonesia and the Dunkerque aluminium smelter in France, and the stubbornly high iron ore price.

However, Rio Tinto reported a 15% drop in its 2018 operating cash flow to US$11.8 billion from the year before due to the timing of tax payments and higher inventory balances. Rio Tinto’s financial year is the same as the calendar year.

The miner was also plagued by higher costs with rises in energy and raw materials putting pressure on margins, which was evidenced by a US$0.5 billion increase in revenue to $40.5 billion but a 2% drop in underlying earnings before interest, tax, depreciation and amortisation (EBITDA) to US$18.1 billion.




--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: early birds  
 
 


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