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RIO, RIO TINTO LIMITED
early birds
post Posted: Jan 20 2021, 08:44 AM
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https://www.sharecafe.com.au/2021/01/20/nat...s-winu-project/

from our own share cafe


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Rios average price in 2020 was $US91 a dry tonne of iron ore (up 15.1%, or $12 a tonne from 2019) or $US98.9 a tonne per wet tonne also up 15.1% or $US13 a tonne.

With barely any increase forecast for this year for shipments, and analysts not confident of further big sustainable gains in the iron ore price, Rio will find it tough to lift earnings in 2021.

This pressure will be offset though by a forecast surge in copper production from 155,000 tonnes of refined metal in 2020 to a range of 210,000 to 250,000.

The increase could be as much as 50% and copper prices are forecast to remain solid this year with supply/demand in rough balance, COVID still impacting output in Chile and Peru and rising demand from renewables such as EVs.


The future impact on our Pilbara iron ore operations, mine developments and heritage approach from the reform of the Aboriginal Heritage Act 1972 remains unknown, Rio said.

We will maintain a high level of engagement with traditional owners regarding current and proposed plans for mining activities.

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to me this one has more troubles than BHP FMG. I'm biased as i hold little shorts on it!!



 
early birds
post Posted: Jan 13 2021, 08:56 AM
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In Reply To: early birds's post @ Dec 18 2020, 07:47 AM

https://www.afr.com/companies/mining/mongol...20210112-p56tep

Mongolia threatens to terminate Rio Tinto's Oyu Tolgoi expansion


Mongolia escalated the stoush over the troubled copper project on Monday, when it told Rio and other foreign investors that it would use its powers to terminate the 2015 agreement that governs the fiscal terms for the underground expansion of Oyu Tolgoi unless it became more economically attractive to the host nation.

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freaking risk to do biz with these kinda govt.!!

i'm biased , had shorts on RIO [small stake though]



 
early birds
post Posted: Dec 18 2020, 07:47 AM
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https://www.afr.com/chanticleer/huge-task-a...20201217-p56of1

dosen't sound OK to me!!
try to pick a short trade in these sector, seems RIO likely a target ?? unsure.gif



 
nipper
post Posted: Jul 17 2020, 10:36 AM
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Rio Tinto PLC said its iron ore shipments rose by 1pc in the three months through June as it capitalised on strong prices of the steelmaking ingredient, although production of other key commodities was mixed.

The miner said it shipped 86.7 million tonnes of iron ore in its fiscal second quarter. Half-year shipments were 3pc higher than a year earlier at 159.6 million tonnes and were achieved despite damage to infrastructure such as access roads, accommodation and power lines caused by Tropical Cyclone Damien in February.

Rio Tinto said it continued to expect annual iron-ore shipments of between 324 million tonnes and 334 million tonnes.

Management said it now expected capital expenditure of around $US6bn this year, narrowing an earlier forecast of between $US5bn and $US6bn. That reflected
QUOTE
...an appreciation in our major operating currencies against the US dollar since the first quarter and a reduced impact of COVID-19 on both sustaining and development expenditure,
the company said.




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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
 
mullokintyre
post Posted: Feb 1 2020, 03:27 PM
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In Reply To: nipper's post @ Feb 1 2020, 01:30 PM

To be fair, the original article included a number of businesses, including telstra, who were planning to use the US based factoring company to screw their suppliers.
They have all backed down since.
Robert Gotliebson in the same publication Friday suggests that pending fed laws may up end the way big business pays their suppliers.
Not a good look for any of them.
Mick



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sent from my Olivetti Typewriter.
 
nipper
post Posted: Feb 1 2020, 01:30 PM
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What has happened to Rio Tinto?
Joe Aston: Columnist, Rear Window
QUOTE
It was a telling garnish on the whole sorry affair: three days into The Australian’s exposure of Rio Tinto’s Orwellian “dynamic discounting” program screwing its suppliers, the miner’s chief commercial officer Simon Trott was, well, trotted out to front the grovelling backdown. Group chief executive Jean-Sebastien Jacques exhibited his kind of leadership from the distant rear. In no way is the man more French than in his truancy of character.

Rio’s behaviour under Jacques gives rise to its increasing isolation.

Only in October, a House of Representatives standing committee held an inquiry "into how the mining sector can support businesses in regional economies" and received submissions from BHP, Glencore and the Minerals Council of Australia; but not a peep from Rio. The inquiry’s first term of reference was “the appropriateness of the payment terms offered to businesses by the mining sector”. Engaged in an AI-driven supply chain shakedown, what could Rio have possibly tendered?

Last month, the Takeovers Panel found adversely against Rio’s attempt to underwrite an equity raising in Energy Resources of Australia to dilute the uranium miner’s minority shareholders into oblivion. Rio’s representative ERA director even attended meetings of its board’s “independent panel” assessing the deal.

For its Bell Bay, Boyne Island and Tomago aluminium smelters in Tasmania, Queensland and New South Wales, Rio has been seeking to gouge cheaper (read: subsidised) electricity from those state governments and holding the futures of local workers over their heads. It's called extortion.

And Rio’s indecent mania for greenwashing – claiming risible “fossil free” leadership while denying its Scope 3 emissions responsibility, which BHP and Vale have accepted – has been well established.

What has happened to Rio Tinto’s hallowed conduct manual, The Way We Work, alleged breaches of which were once enough to sack members of Jacques’ group executive committee and are still deemed sufficient to withhold remuneration entitlements from Jacques’ predecessor Sam Walsh?!

“In everything we do, we hold ourselves accountable to the highest industry standards and our own stringent requirements for ethical conduct,” it pledges. Yet time and again over the past three years, Rio has been, demonstrably, a bad faith actor in Australian society.

And the miner’s board of directors – sitting far, far away from any red dirt, twirling their moustaches atop St James’s Square – has been utterly inanimate, rendered so by their plenteous profits.

Our eminent neighbour Chanticleer landed it impeccably yesterday: “It’s as if [they] have learnt nothing from the way the banks’ relentless focus on profits above all else brought them unstuck.

https://www.afr.com/rear-window/what-has-ha...20200130-p53w8h

- been that way all along, I'd reckon. CRA was the high (or low) point.



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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: mullokintyre  
 


blacksheep
post Posted: Dec 5 2019, 10:02 AM
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Rio Tinto to curtail operations at Richards Bay Minerals
04 December 2019

QUOTE
Rio Tinto has decided to curtail operations at Richards Bay Minerals (RBM) in South Africa to ensure the safety
and security of its employees due to an escalation in violence in the communities surrounding the operations.

There has been an escalation of criminal activity towards RBM employees and one was shot and seriously
injured in the last few days. As a result, all mining operations at RBM have been halted and the smelters are
operating at a reduced level, with a minimum number of employees now on site. Construction of the Zulti South
project has also been temporarily paused.

Bold Baatar, chief executive, Energy & Minerals said “The safety of our people is Rio Tinto’s key priority and we
have taken decisive action to stop operations to reduce the risk of serious harm to our team members.

“We are in discussions with the local communities, regional and national governments, and the police in order to
find a way to address the safety and security issues. Our goal is to return RBM to normal operations in a safe
and sustainable way. We would like to acknowledge and thank the police and authorities for their support.”

Rio Tinto will contact customers to discuss how to minimise any potential disruptions. Titanium dioxide slag
production for 2019 is now expected to be at the bottom end of 2019 guidance of between 1.2 and 1.4 million
tonnes.

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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: Nov 22 2019, 02:59 PM
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In Reply To: blacksheep's post @ Nov 20 2019, 01:17 PM

Rio Tinto faces having to renegotiate terms at Oyu Tolgoi
Reuters | November 21, 2019
QUOTE
Rio Tinto faces renegotiating the terms of an agreement underpinning its Mongolian copper mine project, after lawmakers on Thursday approved plans to revise the deal to make it more beneficial for Mongolia.

The Oyu Tolgoi mine, Mongolia’s biggest foreign investment project, has already been subject to delays and ballooning costs, leaving Mongolian lawmakers impatient for income, while Rio Tinto says it has invested billions.

Rio Tinto-owned Turquoise Hill Resources has a 66% stake in the multi-billion-dollar project and the Mongolian state owns 34%, with investment terms agreed in 2015 in a deal known as the Dubai Agreement.

Rio Tinto said in an email that it understood that the Mongolian parliament’s vote on Thursday to revise the deal needed to be finalised and it would provide a further update once that happened.

Thursday’s vote was the culmination of a two-year process after a working group was set up to establish the benefits of the Dubai Agreement and submitted its report to parliament.

“For now, the Oyu Tolgoi agreement is not benefiting Mongolian citizens,” Battumur Baagaa, a member of the Mongolian parliamentary working group, said when he first presented the report in July.

“It is good to attract foreign investment but that doesn’t mean foreign investment should only benefit the foreign side.”

In July, Rio Tinto announced a cost overrun of up to $1.9 billion, saying total capital expenditure was expected to be in a range of $6.5 billion-$7.2 billion, and it expected a delay of up to 30 months at the Oyu Tolgoi underground extension.

The recommendations approved by parliament include replacing the 34% interest with a special royalty and bringing forward the date – currently set at 2041 – when Mongolia begins receiving dividends.

The working group argued the Dubai agreement was never ratified by parliament and was not legally binding.

On Monday, Mongolia’s Administrative Court ruled that former prime minister Chimed Saikhanbileg had violated the law when he signed the Dubai Agreement. A non-governmental organisation named Darkhan Mongol Nogoo Negdel had asked the court to check the legality of Saikhanbileg’s approval of the agreement.

Turquoise Hill, which is 51%-owned by Rio Tinto, also said it would provide a further update once the parliamentary resolution was finalised.

Rio’s difficulties in Mongolia have held back its share price, analysts say. Rio shares fell 1.2% on Thursday. They have gained around 11% this year, but Turquoise Hill shares have shed around 74% this year.

(By Anand Dairtan, Barbara Lewis and Jeff Lewis; Editing by Susan Fenton)

https://www.mining.com/web/rio-tinto-faces-...copper-project/




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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: Nov 20 2019, 01:17 PM
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In Reply To: early birds's post @ Nov 20 2019, 10:11 AM

Delays, budget over runs, legal problems - Oyu Tolgoi has got the lot. Must rank up there with their Alcan Aluminium and Mozambican coal ventures. Probably more to come.



--------------------
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
 
early birds
post Posted: Nov 20 2019, 10:11 AM
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In Reply To: blacksheep's post @ Nov 20 2019, 09:09 AM

more than 2 years ago...i thought Oyu Tolgoi copper mine will be huge plus for RIO

seems the geo political issues got that mine with opposite effect. not what i expected.. ohmy.gif

no holding atm. just keep eye on it.




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