Rio Tinto Share Discussion Threads

[ariane] 20/7/2020 09:12

JP Morgan Cazenove Neutral UP FROM 5,440.00 TO 5,500.00 Reiterates

[podgyted] 20/7/2020 07:31

Africa beckons:-



Rio currently up 1.2% in Oz

[waldron] 20/7/2020 06:55

Stock futures slip as Wall Street struggles to extend last week’s gains

Published Sun, Jul 19 20206:01 PM EDT

Updated An Hour Ago

Fred Imbert
@foimbert

[waldron] 20/7/2020 06:49

European markets head for negative open as EU leaders fail to agree over recovery fund

Published Mon, Jul 20 20201:16 AM EDT

Updated 28 Min Ago

Holly Ellyatt
@HollyEllyatt

Key Points

London’s FTSE is seen opening 10 points lower at 6,278, Germany’s DAX is seen 30 points lower at the open at 12,903, France’s CAC 40 is seen 6 points lower at 5,059 and Italy’s FTSE MIB 53 points lower at 20,298, according to IG.

EU leaders failed so far to agree on the size and composition of a proposed 750 billion euro ($857 billion) recovery fund. Talks that started in Brussels on Friday over the fund, and the next long-term EU budget, continued over the weekend and are now expected to resume Monday.

[sarkasm] 18/7/2020 09:03

Rio Tinto's capital expenditure jumps

Michael McCrae Friday July 17, 2020 16:48

Kitco News



The world's second-largest integrated miner, Rio Tinto, said today its capital expenditure jumped due to currency appreciation against the U.S. dollar.

The company released its second quarter results today.

Capital expenditure is expected to be around A$6 billion in 2020, as opposed to a range within A$5 to A$6 billion. In 2021 and 2022 capital expenditure will hit A$7 billion.

Despite COVID-19 restrictions, the company increased production, which was up 1% compared with the second quarter of 2019 on a copper equivalent basis. The company said Pilbara iron ore shipments of 86.7 million tonnes (100% basis) were also 1% higher than the second quarter of 2019.

Rio Tinto Chief Executive J-S Jacques said the company is on track to meet guidance.

“We delivered a strong performance, particularly in iron ore and bauxite, demonstrating the underlying resilience of our business and ability to adapt in difficult conditions. Our iron ore assets are performing well in a strong pricing environment and we are on track to meet our 2020 iron ore guidance," said Jacques in a news release.

In June the company apologized after a mining blast reportedly destroyed one of the oldest known Aboriginal heritage sites in Western Australia.

The company said it launched a board-led review of our heritage management processes within its iron ore division to be completed by October 2020.
By Michael McCrae

For Kitco News
Contact [e-mail]
www.kitco.com

[waldron] 17/7/2020 17:18

Iron Ore 105.59 +0.98(+0.93%)
Gold COMEX 1,812.20 +0.86%
Silver COMEX 19.75 +0.88%
Platinum NYMEX 850.70 +2.30%
Copper COMEX 2.91 +0.45%
Brent Crude Oil NYMEX 43.24 -0.16%
Gasoline NYMEX 1.20 -1.23%
Natural Gas NYMEX 1.78 -0.17%
WTI 40.52 USD -0.63%


FTSE 100
6,290.3 +0.63%
Dow Jones
26,668.75 -0.25%
CAC 40
5,069.42 -0.31%
SBF 120
3,989.92 -0.39%
Euro STOXX 50
3,365.6 -0.03%
DAX
12,919.61 +0.35%
Ftse Mib
20,396.77 +0.20%




Rio Tinto
4,941 +2.45%



Bhp
1,799.4 +2.86%



Anglo American
1,959.2 +1.48%



Glencore
183.82 +1.11%

[christh] 17/7/2020 10:38

£49.50 today...

[stevenrevell] 17/7/2020 08:53

I'll divorce them at 52

[christh] 17/7/2020 08:28

I do expect it,hopefully.

Thanks.

gla

[la forge] 17/7/2020 08:28

TOP NEWS: Rio Tinto's Quarter A Mixed Bag And Boosts Spending Plans

Fri, 17th Jul 2020 05:57
Alliance News

(Alliance News) - Rio Tinto PLC on Friday left its annual guidance unchanged after posting mixed second-quarter production figures.

Bauxite and iron ore output grew in the three months to June 30, though there was a double-digit fall in titanium dioxide slag production, figures from the miner showed.

The FTSE 100-listed firm did edge its capital expenditure forecasts higher as the bite from Covid-19 eased and the US dollar weakened.

"We delivered a strong performance, particularly in iron ore and bauxite, demonstrating the underlying resilience of our business and ability to adapt in difficult conditions. Our iron ore assets are performing well in a strong pricing environment and we are on track to meet our 2020 iron ore guidance. Despite various Covid-19 related challenges, all our assets have continued to operate, with our first priority to protect the health and safety of all our employees and communities," Chief Executive Officer Jean-Sebastien Jacques said.

Pilbara iron ore production rose 4% year-on-year in the second quarter to 83.2 million tonnes, with shipments edging 1% higher to 86.7 million tonnes.

IOC iron ore pellets & concentrate output climbed 9% to 2.8 million tonnes during the second quarter. Also seeing a 9% annual hike was bauxite production which rose to 14.6 million tonnes.

Dropping annually, however, was second-quarter titanium dioxide slag production, by 13% to 262,000. Rio Tinto noted that this was due to Covid-19 restrictions in South Africa and Quebec.

Mined copper output slipped by 3% to 132,800 tonnes, while aluminium production decreased by 2% to 785,000.

Rio Tinto last week Thursday said it will wind-down and then eventually close its New Zealand aluminium smelters amid a "challenging" time for the industry.

The FTSE 100-listed miner said NZAS had served Meridian Energy with a notice to terminate the power contract which ends in August next year. The news follows a strategic review which Rio said showed "the business is no longer viable given high energy costs and a challenging outlook for the aluminium industry".

Rio Tinto also has aluminium assets in Australia, Canada and Iceland.

"Governments are gradually lifting restrictions on the movement of goods and people as part of their Covid-19 recovery plans. However, some restrictions remain in place or are being reintroduced. As a result, there continues to be an impact on projects in general although to a lesser degree than earlier in the year," Rio Tinto said.

It added that capital expenditure for 2020 will be around USD6 billion, due to a weaker US dollar and a "reduced impact of Covid-19 on both sustaining and development expenditure".

It had previously forecast annual capex between USD5 billion and USD6 billion.

Capex forecasts for 2021 and 2022 have been nudged higher to USD7 billion from USD6.5 billion.

"Production guidance remains unchanged across all commodities," the miner added.

By Eric Cunha; [e-mail]

[stevenrevell] 17/7/2020 08:23

Christ we may get 52 to 54 report not bad

[waldron] 17/7/2020 07:31

European stocks seen slightly higher as EU leaders meet for stimulus talks

Published Fri, Jul 17 20202:09 AM EDT

Elliot Smith
@ElliotSmithCNBC

Key Points

European leaders will meet in Brussels on Friday looking to hash out a deal on the proposed 750 billion euro ($853.8 billion), which could face opposition from the “frugal four” member states.

U.S. initial jobless claims came in at 1.3 million for the week ending July 11, the Labor Department said Thursday, missing expectations from economists polled by Dow Jones for 1.25 million new filings.

Daimler revealed ahead of its July 23 earnings report that it will post a smaller-than-expected operating loss of 1.68 billion euros for the second quarter.

European stocks are set for a cautiously higher open Friday as European Union leaders prepare to discuss a deal on the bloc’s key coronavirus recovery package, while U.S. coronavirus cases continue to soar.

Britain’s FTSE 100 is seen around 14 points higher at 6,265, Germany’s DAX is set to gain around 22 points to 12,897 and France’s CAC 40 is expected to inch five points higher to 5,090, according to IG data.

[waldron] 17/7/2020 06:43

SYDNEY--Rio Tinto PLC said its iron-ore shipments rose by 1% in the three months through June as it capitalized on strong prices of the steelmaking ingredient, although production of other key commodities was mixed.

The miner said it shipped 86.7 million metric tons of iron ore in its fiscal second quarter. Half-year shipments were 3% higher than a year earlier at 159.6 million tons 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 tons and 334 million tons.

Management said it now expected capital expenditure of around US$6 billion this year, narrowing an earlier forecast of between US$5 billion and US$6 billion. That reflected "an appreciation in our major operating currencies against the U.S. dollar since the first quarter and a reduced impact of Covid-19 on both sustaining and development expenditure," the company said.

Iron-ore prices this month topped US$110 a ton after supply from Brazil was disrupted by the spread of the novel coronavirus and demand strengthened in China, the world's top buyer of the commodity. On Thursday, China said its economy grew 3.2% from a year earlier in the second quarter, as authorities benefited from an aggressive campaign to eradicate the virus within its borders.

Mining executives say key indicators, such as utilization rates at steel mills, have recovered to levels before coronavirus pandemic. Steel inventories are also falling from high levels, signaling demand has gotten stronger.

The World Steel Association, an industry group, expects Chinese steel demand to increase by 1.0% this year, despite the early disruption to manufacturing. Infrastructure projects begun this year will also support steel consumption in 2021, it says.

Still, the virus pandemic has forced Rio Tinto to shutter some operations temporarily, reduce output at others, and rethink how it staffs operations that have traditionally relied on open borders to bring in mineworkers from far away.

On Friday, Rio Tinto said capital expenditure for next year and 2022 is expected to be around US$7 billion annually, up from a prior forecast of US$6.5 billion per year. "This includes spend from 2020 that has been rephased as a result of Covid-19 restrictions," the company said.

Among its other commodities, Rio Tinto said quarterly bauxite output rose by 9% to 14.6 million tons while copper production dropped by 3% to 132,800 tons and aluminum output fell by 2% to 785,000 tons.



Write to David Winning at [e-mail]



(END) Dow Jones Newswires

July 16, 2020 18:49 ET (22:49 GMT)

[podgyted] 17/7/2020 00:19

Volumes rise, prices rise - hopefully looks good for Rio - but WTFDIK.

[waldron] 16/7/2020 17:14

Iron Ore 105.59 +0.98( +0.93%)
Gold COMEX 1,808.00 -0.27%
Silver COMEX 19.75 -0.30%
Platinum NYMEX 842.20 -0.27%
Copper COMEX 2.90 +0.61%
Brent Crude Oil NYMEX 43.61 -0.05%
Gasoline NYMEX 1.22 -1.82%
Natural Gas NYMEX 1.80 -1.43%
(WTI) 41.015 USD +0.12%


FTSE 100
6,250.69 -0.67%
Dow Jones
26,728.52 -0.53%
CAC 40
5,085.28 -0.46%
SBF 120
4,005.41 -0.34%
Euro STOXX 50
3,365.35 -0.57%
DAX
12,874.97 -0.43%
Ftse Mib
20,368.7 +0.43%




Rio Tinto
4,823 -0.44%


Bhp
1,749.4 -0.62%


Anglo American
1,930.6 -1.17%



Glencore
181.8 -0.50%

[christh] 16/7/2020 15:34

Hi Ian,
long time no see!
I hope all is well,good to hear from you.

Well I was hoping but never mind, I hope Rio gets to £54 or £57 by end of July.
Trading update tomorrow!

gla

[waldron] 16/7/2020 10:28

Dow futures drop 200 points as investors focus on earnings, China sell-off

Published Wed, Jul 15 20206:04 PM EDT

Updated 18 Min Ago

Pippa Stevens
@PippaStevens13

[ian davenport] 16/7/2020 07:44

Chris - housing only! Probably of more concern for us investors, he's looking at capital gains tax reform to raise some of the billions he needs