Rio Tinto Share Discussion Threads

[philanderer] 07/9/2022 09:42

Weak economic data from China overninght.

Miners (and oil) marked down this morning.

[greendig] 06/9/2022 21:02

Steel stocks are around 40% down on last year while consumption is relatively steady. Despite low profitability mills are starting up again after maintenance and China is desperately pushing infrastructure stimulus now.

It’s not a guarantee but this looks positive for iron ore at least in the short term.

DYOR!

hxxps://news.metal.com/newscontent/101936524/china-rebar-stocks-up-05-on-week

[tuftymatt] 06/9/2022 14:59

The yanks get going today and down we all drop!!
US Futures were positive when I made my top up but that soon went south once the market opened 😩

[spud] 06/9/2022 14:26

Still keeping some powder dry for a possible move back to 4250p - Only represents the final 10% of my intended holding. spud

[halfpenny] 06/9/2022 14:09

Tufty…I agree soon over 5000 and will happen quickly…good level to get in..

[tuftymatt] 06/9/2022 14:02

I took a few more today.
It helps with my average and I don't think it would take too much positive news to see this spin back to over 5000

[philanderer] 06/9/2022 13:58

Rio Tinto CEO meets top executives at new Chinese ore-buying company

[gibbs1] 06/9/2022 11:58

McEwen Mining Inc. said Tuesday that it has signed an option to become a majority joint-venture partner with mining major Rio Tinto PLC in Nevada.

The Canadian gold and silver producer said that it has entered into a binding term agreement with Rio Tinto's subsidiary, Kennecott Exploration Co., for an option to earn a 60% interest in the Elder Creek property.

To exercise the option, McEwen would have to pay $18 million, after which the two parties would form an unincorporated joint venture where McEwen would be the largest partner, and Kennecott would be the project operator.



Write to Adriano Marchese at [e-mail]



(END) Dow Jones Newswires

September 06, 2022 06:36 ET (10:36 GMT)

[grupo] 06/9/2022 08:53

Rio Tinto Enters Binding Agreement to Acquire Turquoise Hill


Rio Tinto PLC has entered a binding agreement with Turquoise Hill Resources Ltd. to acquire the remaining shares in the Mongolia-focused copper miner that it doesn't already own.

[grupo] 06/9/2022 08:43

SYDNEY--Rio Tinto PLC said it has entered a binding agreement with Turquoise Hill Resources Ltd. to acquire the remaining shares in the Mongolia-focused copper miner that it doesn't already own.

Rio Tinto said Turquoise Hill's independent directors had unanimously recommended its cash offer of 43.00 Canadian dollars (US$32.72) per share for all outstanding shares. It previously offered C$40.00 per share.

Turquoise Hill, which is 51%-owned by Rio Tinto, has a 66% interest in the Oyu Tolgoi copper-gold mine in Mongolia.

Rio Tinto expects Turquoise Hill shareholders to vote on the offer in the December quarter and to close the transaction shortly after.



Write to Stuart Condie at [e-mail]



(END) Dow Jones Newswires

September 05, 2022 22:47 ET (02:47 GMT)

[1viky] 06/9/2022 01:10

Hi All, I have RIO on LSE. Is there an option of getting dividends in USD instead of pounds and if so will there be a US withholding tax? Thanks

[waldron] 05/9/2022 10:21

Logo Rio Tinto plc
Rio Tinto plc is one of the world's leaders in mining research, prospecting and operating. Net sales break down by family of products as follows:

- iron ore (64.8%): 285.9 Mt produced in 2020;

- aluminum, alumina and bauxite (20.9%): 56.1 Mt bauxite, 8 Mt alumina and 3.2 Mt aluminum produced;

- industrial minerals (4.7%): titanium dioxide pigments (1,120 Kt produced), borates (480 Kt produced) and salts (4.9 Mt produced);

- copper (4%) : 537.9 Kt produced;

- gold (1.1%) : 283,000 ounces produced;

- diamonds (1.1%) : 14.7 million carats produced;

- other (3.4%): uranium, silver, zinc and molybdenum.

Net sales are distributed geographically as follows: the United Kingdom (0.5%), Europe (5.9%), China (58.1%), Japan (7.5%), Asia (10.2%), the United States (10.9%), Canada (2.9%), Australia (1.7%) and other (2.3%).

Number of employees : 49 345 people.

[waldron] 05/9/2022 10:19

Rio Tinto sold its last coal mines in 2018, becoming the first mining major to go coal-free.

[montyhedge] 05/9/2022 10:10

Does Rio have coal mines, hopefully they do, Newcastle Coal Oct 22, gone to record high $462.75

[coxsmn] 01/9/2022 21:44

Rio Tinto: M&A Optionality https://seekingalpha.com/article/4538123-rio-tinto-m-and-a-optionality

[podgyted] 01/9/2022 17:45

I'm out of all resource stocks at the moment.

Iron ore is on a down-leg and RIO picked a great day to take control of TH with copper falling over 3% - Freeport MacMoRan down over 6% today - and aluminium is looking worrying.

Need to see some upward movement on metal prices or RIO will do more than test 4500.

BWDIK

[fuji99] 01/9/2022 15:47

Good luck to you thamestrader !

[coxsmn] 01/9/2022 11:11

Some good newshttps://uk.finance.yahoo.com/news/ftse-100-rio-tinto-canada-turquois-hill-deal-091443370.html

[thamestrader] 01/9/2022 11:02

No hiding place fuji?
Try XSPS and XUKS. Short-swap ETFs. Good 'insurance policies' which have served me well in the last few weeks.

[halfpenny] 01/9/2022 09:45

RIO has further to fall and will test 4500. Too Risky at these levels. Remember September/October is a bad month for the market eg Black Monday October CRASH. Further pullback expected as volumes increase now holidays are over…

[fuji99] 01/9/2022 09:38

I don't think there is any hiding place in this markets. Inflation coupled with no ending geopolitical issues (Ukraine/Taiwan) have already triggered a long lasting bear market. We will see the odd dead cat bounces but the ascendant trend will persist for at least next year. At present, notice everyday new low for almost every stock. Better be in cash ant pick them 50% cheaper, another way to make money.

[johnrxx99] 01/9/2022 08:55

Bloody expensive!

[blackhorse23] 01/9/2022 08:42

Moved some investment to CURY (LSE) excellent value , debt free high growth & liquidity stocks , free cash 400p per share

[the grumpy old men] 01/9/2022 08:39

Rio Tinto to gain control of Mongolian copper mine as it snaps up remaining stake in Canadian rival for £2.9bn

Oyu Tolgoi project in Mongolia is one of the world's largest copper deposits
Rio Tinto's previous £2.3bn and £2.6bn bids had been rejected

By Camilla Canocchi for Thisismoney.co.uk

Published: 08:18 BST, 1 September 2022 | Updated: 08:18 BST, 1 September 2022

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Rio Tinto has agreed to buy the rest of Canadian copper miner Turquoise Hill Resources it does not already own for $3.3billion (£2.9billion).

The deal will allow the dual-listed company to secure direct ownership of the Oyu Tolgoi project in Mongolia, one of the world's largest known copper deposits.

Rio operates the mine but does not have direct ownership of it. Rio currently holds a 51 per cent stake in Turquoise Hill, which itself owns 66 per cent of the mine, while the remainder is controlled by the Mongolian government.


Rio Tinto expects the deal to close towards the end of year, if shareholders approve it



Oyu Tolgoi is vital for Rio as it looks to mine more metals used in low-carbon technology and shift away from iron ore, a key steelmaking ingredient which generates most of its revenue.


Rio Tinto will pay C$43 per share in cash, which represents a more than 19 per cent premium to the stock's last close.

The offer is also higher than the sweetened £2.6billion it made last month and the £2.3billion bid it made in March, both of which were rejected.




Rio Tinto expects the deal to close towards the end of year if it gets the approval of 67 per cent of shareholders.

Rio Tinto chief executive, Jakob Stausholm, said: 'Rio Tinto is committed to moving Oyu Tolgoi forward in direct partnership with the Government of Mongolia to realise its full potential for all stakeholders.

'This agreement represents another significant step following the recent commencement of the underground operations, and will simplify governance, improve efficiency and create greater certainty of funding for the long-term success of the Oyu Tolgoi project.'

Rio Tinto shares fell 2.3 per cent at the open in London to 4,660p.