The sharemarket fell slightly in quiet trading yesterday as global equity markets awaited the outcome of negotiations to avoid the so-called fiscal cliff that threatens to slow the US economy next year unless politicians reach agreement on ...
Tags: sharemarket, fiscal, Banks, Share trading volume
THE Australian sharemarket finished on a 16-month closing high as progress with the US fiscal cliff negotiations led to across the board gains for local stocks. At the close,the benchmark S&P/ASX200 index was up 21.8 points,or 0.48 per ...
The growth of the developing world will likely require as many mineral resources over the next 25 years as have been used since the dawn of the Industrial Revolution. But those scarce minerals will become increasingly difficult to recover ...
Tags: IT, mineral resources, Industrial Revolution
WA's mining industry has called for full review of resource development in the Kimberley after Premier Colin Barnett appeared to rule out the development of a massive bauxite resource in the region owned by Rio Tinto and Alcoa. Mr Simon ...
Tags: AMEC Australia, WA's mining industry, Premier Colin Barnett, Metallurgy
AUSTRALIAN stocks are expected to start the last full trading week before Christmas on a cautious note amid ongoing negotiations over the looming US budget deadline. Futures trading was pointing to a weak start on the local market today, ...
Tags: Markets Struggle, Fiscal Cliff, US budget
A consortium of Chinese and South African entities has agreed to purchase the 74.5% interest in South African copper producer Palabora Mining currently held by major miners Rio Tinto and Anglo American. The transaction in which Rio Tinto ...
Tags: copper stake, copper, copper producer, refined copper
Reuters reported that Japanese buyers have agreed an aluminium premium of USD 240 per tonne with Rio Tinto Alcan for some January to March shipments down from a record USD 254 to USD 255 PREM ALUM JP in the previous quarter. Sources ...
Tags: aluminium, Japanese buyer, aluminium price, aluminium market
Reuters reported that spot iron ore touched 6 week lows as demand from top buyer China declined in tandem with falling steel prices, putting the raw material on course for its first monthly loss in 3. For November, iron ore is down 2% ...
Tags: spot iron ore, falling steel prices, first monthly loss
Financial cited Mr Guy Elliott CFO of Global miner Rio Tinto Plc as saying that the company which has already sold assets worth USD 12 billion since 2008 sees substantial cash coming in next year from the sale of further operations ...
Tags: Pacific aluminium and diamonds businesses, mining group, Rio Tinto Plc
Bloomberg quoted Codelco as saying that there's sound and solid interest from customers in China for next year amid signs of an economic recovery in the world's biggest market for the metal. Mr Thomas Keller CEO of Codelco said that ...
Tags: world's biggest market for the metal, Codelco, Bloomberg
New Zealand Aluminium Smelters has confirmed it has completed its plan to reduce the size of its organization by 100 roles but it is still losing money and further cuts are expected. A spokesman for Pacific Aluminium said that the Rio ...
Tags: aluminium extrudé, aluminium extrusion, job new zealand
The multi national mining company Rio Tinto has long promised that its proposed new copper mine near the small town of Superior, Ariz., would provide 4,000 jobs and economic salvation for a local population that has struggled to find work ...
Bloomberg reported that Hebei Iron & Steel Group led a group including Industrial Development Corp of South Africa Ltd in agreeing to buy Rio Tinto Group's Palabora Mining Co Rio will sell the companies a 57.7% stake for USD 373 million. ...
Reuters reported that unionized workers at Chile's Escondida have voted in favor of early labor talks with the mine's controller, global miner BHP Billiton. A union leader said that Escondida's union stunned the copper market last ...
Tags: labor talks, copper market, mine union
RIO Tinto has warned it may cut more jobs from its aluminium and coal businesses as it seeks to rein in unsustainable cost increases. In an investor update, the mining giant also says it expects growth in China's steel demand to peak ...
Tags: aluminium business, Rio Tinto, global mining operation