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Rio Tinto Share Discussion Threads
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|Positive RNS due, resources sector on fire today..|
|Coal price soars, sees mines reopen
October 25, 2016News Sharon Masige
The current surge in coal prices has signalled positivity in the resources sector, leading to announcements of mines reopening both in Australia and overseas.
Last week the coking coal price reached $230/tonne, soaring from the $75 mark a few months prior, according to the Financial Times. Thermal coal also had a hike in price, reaching more than $100/tonne, and ending a five-year bear market where prices dropped to as low as $40.
The price increase follows China’s decision to reduce coal mine production from 330 days a year to 276, decreasing production by 10 per cent compared this year.
This has also sparked a surge in imports, with September coal imports increasing by a third to 24.4m tonnes, compared to last year.
It has also had coal producing nations awaiting an economic boost as they begin reopening halted mines.
Glencore recently announced the reopening of the Collinsville mine in Queensland, creating 200 jobs in the region. This was welcomed by the state premier Annastacia Palaszczuk who said, “This is yet another piece of positive news for the north and ongoing evidence of green shoots appearing in the resources sector.”
The state is also expecting the reopening of at least three other mines, with NSW planning three as well.
“What we are seeing in the coal industry are companies willing to invest because they see the fundamental drivers of global demand for high-quality Queensland coals as remaining strong,” Queensland Resources Council CEO Michael Roche said.
Since 2011, 500 mines have closed in the US, leaving around 30,000 workers out of a job.
Last month, US company ERP Compliant Fuels purchased three mothballed mines in British Columbia, Canada and is recommencing operations. Another US company, Ramaco, is also planning to restart two coking coal mines this year.
Whitehaven has also noted a ramp up of production following the surge in price, having quadrupled production in four years according to chief executive Paul Flynn.
The company’s September quarter results recorded an increase in coal output, attributing it to strong demand and China’s crackdown on production.
Flynn also went on to suggest that if prices stayed at $75 for a sustained period of time, miners may begin to invest in new mines.
However, other groups believe the rally will be short lived, with analyst at the Institute for Energy Economics and Financial Analysis, Tim Buckley, saying the seaborne trade is in structural decline and global coal demand will drop by 2.3% this year.
|had a nice trade for a change by buying late yesterday and selling in opening auction . Bit risky to take it overnight ! Short term trend is still up I think which bodes well for those holding stock .|
|they mark 'em up and they mark 'em down.
looks like the commodity bull run is over again so down we go.
grom £32 to £15 to £27 to....
such wild swings,a 25% fall will be nothing if recent past form is any guide.|
|still falling and no sign of bottoming yet . Builders rocketed today !|
|hopefully u r following u r own advice|
|The trend is still upwards, so cherish the time now and treat this as a Buying opportunity.|
|Date........Broker..............Recommendation..New target price...Notes
05 Oct 16..Deutsche Bank.........Buy...........3245.00...........Reiterates
04 Oct 16..RBC Capital Markets...Outperform ...34.00.00..........Reiterates
20 Sep 16..Macquarie.............Outperform....3300.00...........Reiterates
15 Sep 16..JP Morgan Cazenove....Overweight....3150.00...........Reiterates|
|RIO got hammered in OZ last night abd flowed through to the UK . tempting to look for an intra day trade at times like this when it appears to have bottomed for the day . Not sure why the selloff but presumably base metal prices fell .|
|something special about christh . every time he appears rio sells of in a major way lol rio hits 28 and christ appears and now back to 26|
|I am still here christh . nice of you to remember me|
are u still around?
keep buying, £36 target price .|
|Any ideas on how to invest (£s) when Sterling rallies back up?
It seems UK stocks (especially miners), UK bonds, UK property will all fall during that period. I'm not comfortable shorting markets.|
|bigT - welldone as RIO retreated after the great start . I think sterling has further to fall based on what chart is saying but might have a rally before resuming downtrend|
|That's it - I'm all out today at 2780.
With 30% profit in 4 months I'd be pushing my luck to stay in longer, as Stirling now cannot go much lower and global risks have escalated.
Good luck all.|
|RIO and mining stocks at last have nice uptrending charts .|
|did well until reversing as dow came off .|
|not advice, but my best guess.... sterling going lower, so miners going up for a while yet|
|Fingers are now twitching to sell any advice|
|THIS IS VERY IMPORTANT-TAKE NOTICE
By reducing the debt Rio will be able to maintain the dividend which recently had to curtail.
Rio Tinto launches debt reduction program
September 27, 2016,
Rio Tinto has begun yet another debt reduction program, launching a bond purchase program for up to US$3 billion.
It follows the miner’s earlier ventures this year to pay down its debt early, after repurchasing around US$1.359 billion in outstanding notes in April and launching a cash tender offer for US$3 billion worth of notes in June, both of which were successful.
According to the miner, it has launched its latest buyback in order to take advantage of its strong liquidity position and the improved market.
Under its new plan, Rio Tinto has offered a redemption notice for approximately US$1.5 billion of its 2017 and 2018 notes and begun a cash offer to purchase around US$1.5 billion of its 2019, 2020, 2021, and 2022 notes.
Today, Rio Tinto issued a notice of redemption for all of its 2.000% notes due 22 March 2017, 1.625% notes due 21 August 2017 and 2.250% notes due 14 December 2018 issued by Rio Tinto Finance (USA) plc and for all of its 6.500% notes due 15 July 2018 issued by Rio Tinto Finance (USA) Limited.
These notes are guaranteed by Rio Tinto plc and Rio Tinto Limited and approximately $1.5 billion in aggregate principal amount is outstanding. The redemption date is 26 October 2016.
Rio Tinto Finance (USA) plc and Rio Tinto Finance (USA) Limited are making cash tender offers to purchase up to approximately $1.5 billion of the outstanding securities, each guaranteed by Rio Tinto plc and Rio Tinto Limited.
|We will not leave the EU in any meaningful way.
The heaps of legislation that needs to be cancelled will never get through parliament.
It would take years and no one knows how to do it.
Most of it they agree with anyway and helped to draft.
The simple minded Brits thought that getting out would be it would be easy.|
|but DOW fell sharply after UK close but RIO closed at £25.98 equiv thanks to a weaker pound . In time the pound will probably weaken further thanks to the crazy decision to leave the EU !|
|nice close above the 53 week high.|