Company
LON:RIO
Rio Tinto Ltd is a leading international mining group that finds, mines and processes the earth's mineral resources. The Group's major products include aluminium, copper, diamonds, energy products, gold, industrial minerals (borates, titanium dioxide, salt and talc), and iron ore. Its activities span the world but are strongly represented in Australia and North America. There are also significant businesses in South America, Asia, Europe and southern Africa.
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The Canadian bank also reduced its target for the FTSE 100-listed miner to 3,400p from 3,900p, with the stock currently changing hands at 4,161.5p, down 2.2%
Iron ore shipments rose 14% in the second quarter, ahead of expectations, but Rio has warned that it is operating in an “environment of rising cost inflation”
Footsie added nearly 26 points to stand at 7,626, while FTSE 250 also finished higher - up almost 71 points at 20,871
The UK-listed miner has a joint venture with US giant Freeport-McMoRan Inc., owner and operator of the Grasberg mine, for a 40% share of its production above specific levels until 2021 and 40% of all production after 2021
FTSE 100 closed around 21 points higher on Friday at 7,636, the FTSE 250 added nearly 147 points at 20,830.
Companies need to move to a more balanced capital allocation approach, make cautious input assumptions and invest in strong market fundamentals. They need to move with the changing world, HSBC said, adding that the risks of not investing in
Investments and investor services
The market has been seeming complacent on Trump’s tough protectionist rhetoric..until now
The FTSE 100-listed miner said Stausholm will join as an executive director and take over as chief financial officer on 3 September 2018
In a note to clients, the German bank’s analysts said: “The iron ore market faces medium-long term headwinds from peaking demand and rising scrap use in China”
The US bank said it has upgraded its stance on Randgold to ‘overweight’ from ‘neutral’ after a 15% share price fall in the year-to-date
The uranium price has been showing some green shoots in recent weeks.
The AIM-listed firm said his primary responsibility will be to lead the development of Zamsort’s commercial-scale demonstration plant processing copper and cobalt
The property is a joint venture. Margaret Lake Diamonds holds a 60% interest and acts as project operator..
Investments and investor services
The UK blue-chip benchmark closed around 11 points higher at 7,334..
During the opening three months of 2018, Anglo Pacific generated £13.3mln in free cash flow, helped by the continued recovery of commodities prices
Hardware & electrical equipment
The new process involves the use of a proprietary material that can be used instead of carbon in smelters
Jackson has extensive experience as a director and finance chief of numerous publicly traded firms in the mining industry
Investments and investor services
Thursday is set to be a busy one for corporate results with the likes of BT Group, Barratt Developments, Next and Supergroup among the day's highlights.
Barclays analysts said: “Following 40% underperformance vs. RIO over the last 5 years, we believe the stage is now set for BHP to recover at least some of that underperformance over the next 12 months”
BT's new chairman Jan Du Plessis is expected to focus on repairing relations with Ofcom as part of the company's strategy
