Rio Tinto Share Discussion Threads

[high yields] 21/4/2023 15:11

Buying opportunities

[philanderer] 21/4/2023 13:41

JP Morgan's analyst Dominic O'Kane maintains his Sell rating on the stock. The target price is decreased from GBX 5300 to GBX 5110.

[montyhedge] 21/4/2023 12:55

Not great, for the risk.

[tuftymatt] 21/4/2023 12:47

Around 7.5%

[prokartace] 21/4/2023 12:27

what does the share yield at this price?

[tempted] 21/4/2023 12:03

Previously bought at 45 but sense we won’t see that again, price seems a reasonable entry if somewhat no man’s land looking at the historical chart, so have made a small purchase, looking to hold with a more long term view with RIO. Agree on adding if this drops back to year lows.

[anhar] 21/4/2023 11:53

Chart support looks to be at 4500p.

I think charts are utter nonsense, but if that level is tested I'm going to increase the already substantial holding of RIO in my income port.

[spud] 21/4/2023 11:44

Resistance becomes support on the return journey as well - 3x at 5100.

spud

[montyhedge] 21/4/2023 11:39

I would say 4500p as well.

[philanderer] 21/4/2023 10:44

Chart support looks to be at 4500p.

-------

In London, mining stocks were amongst the worst blue-chip performers in early morning trade as commodity prices declined amid a worries around the global demand outlook.

Brent oil was quoted at $80.42 a barrel early in London on Friday, down from $81.29 late Thursday. Gold was quoted at $1,985.20 an ounce, significantly lower against $2,002.90.

Rio Tinto fell 4.0%, Anglo American 2.8%, Antofagasta 2.2%, and Endeavour Mining 1.8%.

In equity markets, miners were the worst performers, with Rio Tinto, Anglo American, Antofagasta and Glencore all lower as copper prices fell.

[northernfrank] 21/4/2023 09:08

4% down. What the duck?

[craftyale] 21/4/2023 07:17

Need a temp drop in the share price for my div reinvestment :)

[sundial1] 20/4/2023 15:34

copper seems always pick up lately late on.

[philanderer] 20/4/2023 10:49

Nice dividend paid into my ii account this morning.

[tuftymatt] 20/4/2023 08:05

Yeah I agree.

There will always be challenges in various parts of the World / with new projects etc and the obvious ups and downs in terms of prices too.

That said RIO know what they are doing and I am confident we will see that reflected in the share price as the year moves on.

Good luck all 👍🏻

[eggbaconandbubble] 20/4/2023 07:54

All looks good to me. Iron ore up as China comes out of lockdown etc. Thus demand will increase going forward. The reduction in Copper will be offset by increasing prices and the technical issues affecting output will be sorted.
All good. An understated RNS I believe.

[ariane] 20/4/2023 07:34

Rio Tinto PLC reported record first-quarter iron-ore shipments from its mammoth Australian mining operations, but downgraded its full-year copper-production estimate, citing a conveyor outage at its Kennecott mine near Salt Lake City, Utah.

The company also said it is reviewing the budget and schedule for a project at its Rincon lithium development in Argentina due to searing local inflation and rising equipment costs.

The world's second-biggest miner by market value on Thursday said it shipped 82.5 million metric tons of iron ore from its mines in Australia's Pilbara region in the three months through March, up 16% on the same period a year ago. Rio Tinto's iron-ore mining operations there are the biggest in the world, alongside a network of mines run by rival Vale SA in Brazil.

Output from its iron-ore pits was 11% higher than the year-prior level and exports were boosted by a drawdown of stockpiles, the company said.

Rio Tinto said it also produced 145,000 metric tons of mined copper in the quarter, in line with the same period of 2022. However, the miner cut its full-year copper-production estimate due to disruptions at Kennecott, as well as geotechnical challenges in the pit of the Escondida mine in northern Chile.

Rio Tinto now expects to report between 590,000 and 640,000 tons of mined-copper production in 2023, from 650,000 to 710,000 tons previously.

Output at the Kennecott mine was 36% lower year-on-year because of the problems with a conveyor belt that links the mine to a concentrator. The area also experienced record snowfall -- twice the historical Utah average, the company said.

The concentrator is expected to operate at reduced rates until the third quarter, with Rio Tinto planning to truck ore while it sources replacement motors for the conveyor. The miner kept copper unit-cost guidance unchanged.

At the Rincon lithium project in Argentina, development of a lithium-carbonate starter plant is ongoing, the company said. However, it is reviewing its $140 million estimate and schedule for the plant in response to surging inflation.

"Detailed studies for the full-scale operation are ongoing, and the exploration campaign progressed to further understand Rincon's basin and brine reservoir," the miner said.



Write to Rhiannon Hoyle at [e-mail]



(END) Dow Jones Newswires

April 19, 2023 19:43 ET (23:43 GMT)

[tempted] 19/4/2023 23:45

Iron ore production +16%, copper guidance cut



Full report here

[philanderer] 18/4/2023 14:12

Date: Wednesday, 19 April 2023 23:30 (UTC+01:00)

Event title:First Quarter Operations Review 2023

London 23:30 | Sydney 08:30 (20 April)

[grupo guitarlumber] 17/4/2023 14:17

MINING.COM


Teck attracts bids from Vale, Anglo American and Freeport


Cecilia Jamasmie | April 17, 2023 | 4:49 am


Teck Resources (TSX: TECK.A, TECK.B)(NYSE: TECK) is said to have been approached by Vale (NYSE: VALE), Anglo American (LON: AAL) and Freeport-McMoRan (NYSE: FCX) on potential deals for the Canadian miner’s base metals business if shareholder approve a planned split.

The three global miners are among at least six companies that have expressed interests in transactions with Teck post-split, local paper The Globe and Mail reported on Sunday, citing sources close to the matter.


The Vancouver-based company, which is Canada’s largest diversified miner, proposed in February spinning off its steelmaking coal business to focus on base metals, particularly copper and zinc.


Swiss commodity trader and mining company Glencore Plc (LON: GLEN) launched a hostile $23.1 billion takeover of Teck, which has been sweetened since then to entice Teck’s shareholders initially opposed to the idea of being exposed to a larger coal portfolio.

The revised proposal gives Teck’s shareholders who do not want to own shares in the combined coal operation the option to receive cash plus 24% of the combined metals-focused business.

On Sunday, former chairman Norman Keevil, whose family controls Teck through its ownership of the majority of the company’s ‘A’ class of shares, reiterated his arguments against the takeover.


“As there has been much media commentary regarding my views on the future of Teck, I would like to provide a clear statement of my perspective,” he said.

“My colleagues and I are proud of what we achieved through 30 years of building Teck, growing the company 500-fold from a $25 million market cap to $12.6 billion, with double-digit compounded growth in shareholder value, and continuing growth in recent years to $25 billion today,” he added.

Keevil clarify he would support a transaction — be an operating partnership, merger, acquisition, or sale – with the “right partner”, on the “right terms” for Teck Metals after separation.

Teck’s chairman emeritus added that Glencore’s proposal was “the wrong one, as well as at the wrong time” and the split should go ahead.

With just over a week left on the clock for Teck’s shareholders to vote on the split, Glencore is trying its best to persuade the Canadian miner’s shareholders. Last week, chief executive Gary Nagle landed in Toronto to personally explain his company’s vision and intentions.

By Friday evening, two influential shareholder advisory firms had recommended against Teck’s strategy, while its largest investor, China Investment Corp., said it favoured Glencore’s proposal.


The shiny orange metal

Experts had anticipated that the company’s decision to split the business in two would make Teck Metals a takeover target. The company owns four copper mines in South America and Canada, which produced 270,000 tonnes combined last year.

Teck also expects to double copper output after the second phase of its Quebrada Blanca (QB) project in Chile ramps up to full capacity by the end of 2023.

Glencore believes that operating Quebrada Blanca jointly with the nearby Collahuasi mine, in which the Swiss multinational holds a 44% stake, would add at least a $1 billion of value to its coffers.

The idea, Glencore has explained, is that QB and Collahuasi share infrastructure rather than creating a single operation. The latter would require approval from Anglo American (LON: AAL), which has 44% of Collahuasi and Sumitomo, which holds a 30% indirect interest in the Chilean copper mine.

Top miners, in turn, are hungry for copper assets as demand for the metal accelerates and a global shortfall looms. BHP, Rio Tinto and Glencore itself have disclosed that they are actively looking to grow their copper exposure.

[eggbaconandbubble] 11/4/2023 18:24

Any bid would be about 40%+ from here . Say about £75.

Just saying!!!