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RIO, RIO TINTO LIMITED
early birds
post Posted: Mar 22 2021, 08:00 AM
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Rio Ahead of the Curve on Climate Change

Did Rio Tinto spot this major change coming from the US Securities and Exchange Commission that will force every energy company in the world to take climate change issues far more seriously?

Media reports at the weekend revealed that the powerful US Securities and Exchange Commission has directed two of America’s biggest oil companies to hold shareholder votes on far-reaching new emissions targets.

It came two days after Rio revealed that it will back shareholder resolutions on climate issues at its annual meetings in two months’ time.

The SEC move is unprecedented as the world’s toughest corporate regulator takes a tougher approach to climate change issues than previously.

The Financial Times reported that the SEC denied requests from both ConocoPhillips and Occidental Petroleum to reject shareholder motions that would force the two companies to lay out detailed plans for cutting their so-called “Scope 3” emissions — those from the burning of their products by customers.

It’s a fallback issue most energy companies have taken in the face of rising pressure for action on emissions.

All major energy companies, one way or another, have revealed plans to cut their own emissions and to reduce either the emissions generated in producing and selling their products, or to move gradually from fossil-based fuels to cleaner products (such as moving from oil based products to renewables).

But they have resisted dealing with how their customers use their products and their emission cutting measures and targets.

Rio Tinto’s prescience – if it can be labelled that – emerged late Friday with a statement from the mining giant that revealed it would back a shareholder push that would require the company to set emissions targets consistent with the Paris agreement and suspend membership of industry associations that lobby against action on the climate crisis.

In a statement to the ASX Rio recommended shareholders endorse two resolutions brought by activist groups, the Australasian Centre for Corporate Responsibility (ACCR) and Market Forces, ahead of Rio’s annual general meetings in London and Australia in May (Rio is a dual listed company, like BHP).

But it is easy for Rio to make a decision like this – it has sold off most of its energy products – thermal and some met coal – and has energy consuming businesses in aluminium, alumina and bauxite production. The alumina and aluminium assets though are significant direct and indirect emitters.

The SEC decision though is a major change in policy. Every major energy company is involved in the US economy – either selling or trading energy products in some way, through financial (fund raising) links with US-based investors, or investors who in turn are linked to US financial activities.

US regulators are not backward in extending their reach beyond America’s physical borders to the rest of the world, so Australian energy companies such as BHP, Woodside, Whitehaven Coal, New Hope, Santos, Oil Search and Beach Energy could very well find themselves pressure from regulators or activist investors.

And having seen the SEC take this very activist stance, will ASIC here be far behind?
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smart move by RIO, but i still think RIO'a sp will go below 100 bucks as iron ore price faces headwin. imho

 
nipper
post Posted: Feb 17 2021, 04:28 PM
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In Reply To: nipper's post @ Feb 4 2021, 09:31 AM

Rio Tinto has declared a final dividend of $US3.09 and special dividend of US$0.93 on top. Paying out US$9B in total


Iron awe



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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: Feb 4 2021, 09:31 AM
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In Reply To: early birds's post @ Feb 4 2021, 07:53 AM

Whenever the environmental reasons excuse is trotted out, I get suspicious...
QUOTE
Tuesday saw the price of 62% Fe fines fall under $US150 a tonne for the first time in several months. The price settled at $US149.80, down 4.6% or $US7.27 a tonne on the day.

The price of 65% Fines (mostly from Brazil) fell $US7.50 to $US173 a tonne.

Both are down from most recent highs. 62% Fines peaked in mid December around the $US176.40 a tonne – a 9 year high. The price of 65% fines peaked at $US195.30 in mid January.

But the fall is also being blamed on another factor – the Chinese government’s new policy which calls for the size of the steel industry to shrink over the next five years (the 14th five year plan!) for environmental reasons.




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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
 
early birds
post Posted: Feb 4 2021, 07:53 AM
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https://www.sharecafe.com.au/2021/02/03/poo...b-for-iron-ore/


So what’s this mean for Australia’s iron ore exporters – Rio, BHP and Fortescue and the smaller operators?

Well, if productive capacity starts reducing then demand for lower quality ore – 58%Fe fines to start with – will fade quickly.

Steel mills are now blending 62% ore with 65% (the price of 65% fines has fallen less than the 62% price in recent days) to lower costs.

Closing capacity and looking to make steel plants greener will raise demand for 65% ore (most of which comes from Brazil) and some 62% fines from Australia.

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emmm, seems FMG would be the short target. but i still hold little shorts with RIO, aim it 100ish bucks!




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early birds
post Posted: Jan 28 2021, 10:09 AM
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In Reply To: early birds's post @ Jan 20 2021, 08:44 AM

still holding my little shorts with RIO
aim for under 100 bucks, as i think ore price might be due for a pull back.
might be my "wishful thinking" as i'm little biased on this trade. tongue.gif



 
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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Rio’s 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.




--------------------
"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.
 
 


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