Rio Tinto Share Discussion Threads

[podgyted] 09/5/2019 11:23

The tweets are for the rednecks - I suspect other things are being said behind closed doors.

You have a good one too.

[podgyted] 09/5/2019 11:18

Vale iron ore production down 28% Q on Q.

[waldron] 09/5/2019 10:21

Yep, too true podgy

the trump tweet affect adds to the malaise

enjoy your day

[podgyted] 09/5/2019 09:12

Iran sanctions to have an impact?

[christh] 09/5/2019 07:54

Aiming at £53 in the near future.

Still to capture the £70-£90 mark but on the way.

Copper, gold,Aluminium,iron all in great demand and more secure than currency.

[maywillow] 08/5/2019 17:58

Rio Tinto and Caterpillar join forces to build intelligent mine in Western Australia
MINING.com Staff | about 3 hours ago |
Photo by Caterpillar.

Mining giant Rio Tinto (ASX, LON:RIO) and Caterpillar (NYSE: CAT), the world's no.1 heavy machinery maker, announced this week the signing of an agreement whose main goal is to create a technologically advanced Koodaideri mine.

In a press release, the companies explained that the iron ore operation located in Western Australia will soon be receiving a supply of mining machines, and automation and enterprise technology systems via WesTrac, the official Cat dealer in the region.

“Technology is rapidly changing our mining operations as we harness innovation to make our operations safer, smarter and more productive," Chris Salisbury, Rio Tinto's iron ore chief executive, said in the media statement. "This extension of our partnership with Caterpillar and WesTrac represents an exciting step for our business.”

Koodaideri, still under construction, is expected to deliver a new production hub for Rio Tinto’s iron ore business in the Pilbara region. First production is planned for late 2021.

Once completed, the mine will have an annual capacity of 43 million tonnes, underpinning output of the Pilbara Blend, Rio Tinto’s flagship iron ore product.

[waldron] 08/5/2019 17:33

Rio Tinto
4,422 +0.27%


Anglo American
1,933.2 -0.54%


Glencore
286.95 -0.88%

(BHP) - 05/08 04:30:00 pm
1767.7 GBp +0.16%

Gold COMEX 1,281.70 -0.30%
Silver COMEX 14.85 -0.54%
Copper COMEX 2.77 -0.48%
Brent Crude Oil NYMEX 70.26 +0.54%
Gasoline NYMEX 1.96 +0.76%
Natural Gas NYMEX 2.60 +2.56%

[waldron] 08/5/2019 15:55

4 INTEREST


In his six years at the helm of mining giant BHP Group Ltd., Andrew Mackenzie has tangled with an activist investor, faced a fatal mining disaster and made moves aimed at streamlining the company's business.

The result, he says, is a more transparent, less bureaucratic BHP.

The company's operations range from vast iron-ore pits in Western Australia to copper mines in Chile and offshore oil fields in the Gulf of Mexico. While his predecessors chased deals, Mr. Mackenzie, a geochemist who speaks five languages, has spun off assets, cut spending and dealt with an environmental crisis.

Last year, BHP sold the majority of its U.S. onshore oil-and-gas unit to BP PLC for $10.5 billion, ending a costly bet on U.S. shale. Activist hedge fund Elliott Management Corp. had lobbied BHP to sell the business after building up a stake of more than 5% in its U.K.-listed shares.

The company also has worked through the fallout from a November 2015 dam collapse at an iron-ore joint venture in southeast Brazil that BHP owns with Brazilian mining company Vale SA. The collapse killed 19 people and polluted hundreds of miles of rivers. The Brazilian government later sought billions in damages, and BHP and Vale agreed to settle some claims.

Now, Mr. Mackenzie sees other changes ahead. He wants to add technology to more of the company's processes and says employees' jobs are bound to evolve, among the reasons BHP recently appointed a chief transformation officer.

He recently sat down with The Wall Street Journal. Here are edited excerpts:

The Wall Street Journal: How has automation changed mining, and how do you see it evolving?

Mr. Mackenzie: I would say the changes have so far been quite small, but I think they're going to get a lot bigger. The whole future of work is one of our top challenges to figure out, because clearly there are opportunities for us to make our operations more productive or environmentally friendly and safer through embracing all of those things.

WSJ: What roles go away, and what does the workforce look like a decade from now?

Mr. Mackenzie: I think we'll have some of our more basic tasks like driving trucks, operating drills and some back-office work done more automatically, using bots or fully autonomous machines, and therefore it'd be a lot safer. We'll be much better at planning, and planners probably would have a bigger role. But the big change that will happen in my view, in a decade's time, is that we will be approaching a 50-50 male and female [workforce].

We've set this as a target, as a company. We really believe in gender balance, and we've worked at it very hard. It's tough. There's a lot we have to do to get there. We have to make ourselves accessible to a wider group of people.

WSJ: Mining is a male-dominated industry. Are new technologies changing that?

Mr. Mackenzie: It's not just automation that's allowing that. We've had to really shift our culture. You can't get away from the fact that there are a lot of unconscious biases, I would say in the world, but particularly in an industry that has been so male-dominated, where all the rules had been written by predominantly males, and predominantly white males. A lot of things we've had to change. You don't realize until you tackle a tiger like 50-50 [gender representation] as to how much discrimination exists and how much naysaying there is and how much you have to tackle head on.

WSJ: Tell me about a specific role and how it might be different a decade from now because of technology.

Mr. Mackenzie: We employ a lot of people as truck drivers. You'll have some truck drivers who have so much more information that they'll be much more flexible and creative, and their trucks will be maintained in a way that they will operate for a much higher level of uptime.

For the more routine jobs of just shuttling back between the mine face and where the ore is processed, that will increasingly be done by fully autonomous trucks. Some of the people who are driving these trucks might find that they actually end up controlling those trucks from a remote location.

WSJ: As a leader, how do you explain to employees that roles will change going forward without freaking them out?

Mr. Mackenzie: It's hard to completely calm individuals down if they like a particular role and don't want it to change. How we communicate is that we say a number of these jobs will just allow you to be much more effective at what a human does, and therefore you will have a more enjoyable job. You'll have machines to do the things machines do better.

In some cases where we have a lot of manual labor, we're likely to make the work easier. So you can do that work later in your career. You don't get timed out by age as much. It's much more accessible, for example, for women to do jobs.

WSJ: When you became CEO, I don't think you had a lot of experience with activist investors. How have they changed your management style?

Mr. Mackenzie: I do feel there were aspects of having an activist shareholder coming to me that I didn't fully appreciate. They're a big shareholder, they've got some good ideas. So, I said: Let's bring them on board and listen to them. We did listen to them hard. The challenge for me was that much of what they were telling me I knew, and we were doing things about. So the big learning I got was that in this modern world, we just have to be super transparent, and we have to accept that the world demands that.

Write to Chip Cutter at [e-mail]



(END) Dow Jones Newswires



(END) Dow Jones Newswires

[ariane] 08/5/2019 11:59

Real-time Quote. Real-time CHI-X - 05/08 11:57:37 am
4409.75 GBp -0.01%

[grupo] 08/5/2019 08:20

sp seems to be holding up this morning despite market negatives

Rio Tinto
4,415 +0.11%

[grupo] 08/5/2019 08:16

Whoops! Rio Tinto to produce more missed documents for SEC
Myriam RobinColumnist
May 7, 2019 — 11.00pm

Rio Tinto's had a few early successes against the US Securities and Exchange Commission, which in 2017 sensationally claimed ex-chief Tom Albanese and ex-CFO Guy Elliott delayed informing investors about writedowns in the company's Mozambique investments to protect their reputations and raise money.

Rio, Albanese and Elliott are contesting the charges. But the mining giant's "document vendor" has really let the side down.

In 2017 the SEC claimed ex-chief Tom Albanese (pictured) and ex-CFO Guy Elliott delayed informing investors about writedowns in the company's Mozambique investments to protect their reputations and raise money. Glenn Hunt

Back in April, the SEC sought leave to amend its charges against Rio Tinto, after several had earlier this year been thrown out. The application didn't succeed, despite Rio Tinto having informed the SEC in March that — due to the technical ineptitude of said "document vendor" — it hadn't found and produced all the documents it should have for the SEC's ongoing case.

Last week, Rio Tinto informed the SEC of a further 1350 possibly relevant documents its vendor has only now discovered.

It is currently reviewing these new documents to see which it may have to hand over. This is as Rio works with the SEC to address the fact that the regulators still haven't been able to open many of the documents it belatedly handed over in April!

The SEC is now seeking another motion to amend its charges, in light of these new discoveries. Which Rio Tinto naturally opposes, partly citing the "significant prejudice" such a motion would pose to Albanese and Elliott "who have already spent years fighting the SEC's sensationalised, false allegations, including several claims, which the court has now dismissed".

Here's hoping Rio has seen the last of such disappearing paperwork.
License article
Topics

Rear WindowRio Tinto

Myriam Robin is a Rear Window columnist based in the Financial Review's Melbourne newsroom. Connect with Myriam on Twitter. Email Myriam at [e-mail]

[grupo] 08/5/2019 08:10

Barclays Capital Equal weight 4,150.00 - Reiterates

Seems a strange target

[maywillow] 07/5/2019 15:25

Rio Tinto to Deliver Record Returns as Mining Firms Shower Investors With Cash
The windfalls, however, come as executives sound notes of caution about what might lie ahead
By Rhiannon Hoyle
Updated Feb. 27, 2019 5:23 a.m. ET

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Text

SYDNEY—Rio Tinto PLC pledged record returns to shareholders as the mining industry’s cash bonanza continues, even as executives signal concern over the global outlook.

Rio Tinto, the world’s second-biggest mining company by market value, said Wednesday annual capital returns would total $13.5 billion for 2018, including a final dividend valued at $3.1 billion and a special dividend amounting to $4.0 billion.

That...

[maywillow] 07/5/2019 15:24

Rio Tinto to Deliver Record Returns as Mining Firms Shower Investors With Cash
The windfalls, however, come as executives sound notes of caution about what might lie ahead
By Rhiannon Hoyle
Updated Feb. 27, 2019 5:23 a.m. ET

Share
Text

SYDNEY—Rio Tinto PLC pledged record returns to shareholders as the mining industry’s cash bonanza continues, even as executives signal concern over the global outlook.

Rio Tinto, the world’s second-biggest mining company by market value, said Wednesday annual capital returns would total $13.5 billion for 2018, including a final dividend valued at $3.1 billion and a special dividend amounting to $4.0 billion.

That...

[turvart] 04/5/2019 17:18

May willow,
What a great post!

[maywillow] 04/5/2019 14:40

Rio Tinto retiring coal power plant in Utah to move to renewables
Source: Rio Tinto

May 3 (Renewables Now) - Rio Tinto Plc (LON:RIO) plans to permanently shut down its coal-fired power plant in Utah and start buying renewable energy certificates in order to reduce the annual carbon footprint of its Kennecott Utah Copper facility.

The Anglo-Australian mining group said in a statement that Kennecott’s electricity needs will be covered by 1.5 million MWh of renewable energy certificates supplied by Rocky Mountain Power. The certificates will be sourced mainly from the latter’s Utah allocated portfolio, including wind power from Wyoming, according to the announcement.

Rio Tinto said that those changes should result in Kennecott reducing its annual carbon footprint by up to 65%.

The move is awaiting regulatory clearance from the Utah Public Service Commission. It is the result of collaboration with the state government, local communities and Rocky Mountain Power, aimed at improving air quality and delivering an alternative power solution, the miner noted.

Kennecott’s Utah power plant has been idle since 2017, having operated for 75 years before that. The facility was a four-unit, 175-MW thermal generator that could be fired with coal or natural gas.

[podgyted] 04/5/2019 09:26

CP - yeah I saw the higher grade mentioned somewhere but can't remember where.

Why I was quite pleased T set this up - perhaps people can put stuff here as a central point.

[cheshire pete] 03/5/2019 22:02

Turvart: thanks for starting this thread. Also a great fan of RIO.

Podgyted #4: Saw something a while back about RIOs iron ore being of higher grade and preferred in China following a tightening on pollution from smelting.

Re: share split, would attract more small PIs but won't matter to big institutions who between them hold most of the shares.

[turvart] 03/5/2019 20:22

The Footsie is going to push 8000 this year, it may even smash through it and take all these negative shorters to the cleaners! Dyor on forex.

[turvart] 03/5/2019 19:48

When you see my 3 shares go through, that’s my weekly allowance 😂, “But it all adds up” said the little old lady who pee’d in the sea.
☝️

[the grumpy old men] 03/5/2019 19:39

MINING.COM


Rio Tinto speeds up exploration at Winu copper find in Western Australia
Cecilia Jamasmie | about 2 hours ago |
Rio Tinto speeds up exploration at Winu copper find in Western Australia
Rio has already applied to build an airstrip to support the operations. (Image courtesy of Rio Tinto.)

Mining giant Rio Tinto (ASX, LON:RIO) is ramping up exploration at its Winu discovery in Western Australia, which could be the company’s next major copper project.

Speaking at conference in Sydney this week, group executive of growth and innovation Stephen McIntosh said the company’s main goal for now is to determine whether Winu was a “Rio Tinto scale” project.

The copper-gold-silver discovery, a potential major boost for the company's growth options, is about 130 km. from Newcrest's Telfer copper-gold mine in the East Pilbara. It’s also close to numerous copper prospects discovered recently by juniors and 350 km southeast of Port Hedland, the world's largest bulk export port.
"Winu copper-gold-silver discovery, a potential major boost for the company's growth options, is about 130 km. from Newcrest's Telfer copper-gold mine in the East Pilbara"

Rio has so far drilled 24 holes at the site and will continue extensive drilling in months to come as part of its $250 million exploration program. If the company finds that Winu is not a “Tier 1” asset, it would move on to other exploration projects.

Analysts have questioned Rio’s ability to scale up its copper business quickly without making an expensive acquisition. The company recently had to delay first production from the $5.3 billion underground expansion of its Oyu Tolgoi copper-gold-silver mine in Mongolia. Originally scheduled for early 2020, it's now expected to happen in the third quarter of 2021.

In December, Rio sold its entire interest in the Grasberg mine in Indonesia, the world’s second-biggest copper mine, as part of a deal that put an end to years of disagreements between operator Freeport McMoRan (NYSE:FCX) and the country’s government.

Rio Tinto believes the copper market will go into deficit by 2020 amid expectations that bigger power grids around the world and an electric-vehicle boom will boost demand, while supplies will remain constrained.

Last month, the world’s second largest miner decided to invest a further $302 million to advance its Resolution copper project, in the U.S. state of Arizona, as part of its bid for increasing its exposure to the red metal.

However, industry analysts at CRU say the coming online of major projects — Anglo’s Quellaveco (2022), Teck’s Quebrada Blanca expansion (2021) and First Quantum’s Cobre Panama (already in production) will momentarily eliminate the gap between supply and demand.

The research group has cut its forecast deficit and now expects the market will be in a small surplus this year and next, but short again by 250,000 tonnes by 2023.