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RIO, RIO TINTO LIMITED
blacksheep
post Posted: Dec 7 2018, 02:08 PM
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Posts: 5,074
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QUOTE
Leading off-market candidates are:
RIO Tinto (RIO)

Despite buying back ~10% of its ASX listed register for ~A$2.9bn via an off-market buy-back last month, we think RIO will return in the new year with another, potentially even larger off-market buy-back. RIO has recently announced three asset sales totaling ~US4.5bn, the proceeds of which we expect will be returned to shareholders. The largest of these is its interest in the Grasberg mine in Indonesia worth US$3.5bn. While this is subject to a number of regulatory approvals it is expected to close in 1H19. The one caveat for RIO is there is talk that they may bid for a minority interest in Teck Resources’ copper assets in Chile. This could cost ~US$2bn which would reduce the value of the potential buy-back.


https://www.livewiremarkets.com/wires/the-n...ranking-credits



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Dec 6 2018, 06:37 PM
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In Reply To: blacksheep's post @ Nov 28 2018, 01:42 PM

New road into Rio Tinto’s hush, hush find in Pilbara

Sean SmithThe West Australian

QUOTE
It remains reluctant to disclose what it is sitting on in the East Pilbara but mining giant Rio Tinto is spending more money to ensure better access.

The group yesterday confirmed it had tapped the Department of Mines and Petroleum for a licence that would make it easier to upgrade a 400km dirt road linking an exploration camp over its rumoured Winu copper discovery with the Great Northern Highway.

“The company confirms a miscellaneous licence application has been made for the purpose of undertaking maintenance on the existing road to allow for safer access to the site,” Rio said in response to questions from WestBusiness.

An upgraded road would make it easier to haul equipment to the camp, which is thought to support at least 50 workers.

Rio has already applied to build an airstrip to support the operations.


read more - https://thewest.com.au/business/mining/new-...-ng-b881041499z



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Dec 5 2018, 06:40 PM
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Posts: 5,074
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QUOTE
Rio Tinto is seen as another major investor in Serbia as it seeks to develop technology to extract lithium and borate from a 136 million-tonne reserve of jadarite, a mineral named after the Jadar River in the West of the country.

The company has not said how much it might invest in the country but Antic said it could be as high as $1 billion.

"It is not good for us, as the state, to speculate about private investments (by Rio Tinto) … but one could expect total investments of up to $1 billion," Antic said.

Officials of the Rio Sava, a Rio Tinto subsidiary in Serbia, could not be immediately reached for comment. On its corporate website, Rio Tinto says that the jadarite project is currently in the pre-feasibility stage.

"Significant investment is necessary to continue the technical analysis and planning which is required to move from pre-feasibility to feasibility, then to construction and operation," it said.

The production of lithium from jadarite, expected to start in 2023, would amount to 10 percent of the global consumption of the metal crucial for the production of batteries, Antic said.

http://www.mining.com/web/serbias-mining-s...-2023-minister/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 28 2018, 01:42 PM
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Posts: 5,074
Thanks: 2039


In Reply To: blacksheep's post @ Nov 11 2018, 11:47 AM

ASX needs to ask Rio question on Pilbara copper find as punters rush ‘nearology’ minnows
Sean Smith, CommentThe West Australian
QUOTE
The Australian Securities Exchange clearly doesn’t see a problem with the frenetic, but clearly uninformed, trading around Rio Tinto’s rumoured copper discovery in the Pilbara.

Rio remains tight-lipped about what it has stumbled on in the Paterson province, south-east of Port Hedland, where it has set up a large exploration camp to support a busy drilling effort.

To be fair, the miner is under no obligation to share what it has been up to. It obviously regards the “discovery” as immaterial in terms of its share price.

Subsequently, there is no requirement to come clean under the ASX’s listing rules.

However, its activities are clearly material to the small explorers holding tenements adjacent to Rio.

The “nearology” stocks have been running hot since speculation of a Rio find began to gain traction two weeks ago.

Antipa Resources, which holds 5000sqkm of ground in the Paterson, was in the action again yesterday, hitting a two-year high on turnover of 161 million shares.

Over at Sipa Resources, a near-record 124.5 million shares were traded as the company’s shares gained 10 per cent.

The duo have a combined share price of just 4.6¢, so the trading is hardly significant.

However, it should concern the ASX that the punters effectively gambling on the “nearology” stocks are operating in an information vacuum.

So, if the ASX is able to regularly go banging down the doors of under-resourced junior explorers demanding improved disclosure, perhaps it can put in a call to Rio asking — just asking, mind you — for some clarity about the Paterson, in the interests of an informed market.


https://thewest.com.au/business/mining/asx-...-ng-b881033798z



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 26 2018, 08:29 PM
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Posts: 5,074
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Rio Tinto agrees sale of its stake in Rössing Uranium Limited
QUOTE
26 November 2018
Rio Tinto has entered into a binding agreement with China National Uranium Corporation Limited (“CNUC”) for
the sale of its entire 68.62 per cent stake in Rössing Uranium Limited (“Rössing”), owners of the Rössing mine in
Namibia, for up to $106.5 million.

The total consideration comprises an initial cash payment of $6.5 million, payable at completion, and a
contingent payment of up to $100 million following completion. The contingent payment is linked to uranium spot
prices and Rössing’s net income during the next seven calendar years. In addition, Rio Tinto will receive a cash
payment if CNUC sells the Zelda 20 Mineral Deposit during a restricted period following completion. The total
consideration is subject to a maximum cap of $106.5 million.

The transaction represents the culmination of an extensive assessment of strategic options considered by Rio
Tinto in relation to Rössing.

Rio Tinto chief executive J-S Jacques said “The sale of our interest in Rössing once again demonstrates our
commitment to strengthening our portfolio and focussing on our core assets, which deliver sector leading returns
in the short, medium and long term.

“Rio Tinto has a long history in Namibia and I would like to thank the many people across Rio Tinto and the
communities in which we operate who have contributed to the success of Rössing. I wish them continued
success under new ownership. Rio Tinto will work closely with CNUC to ensure a smooth transition and ongoing
sustainable operation at Rössing.”

The transaction is subject to certain conditions precedent, including merger approval from the Namibian
Competition Commission. Subject to these conditions being met, the transaction is expected to complete in the
first half of 2019.

Attached thumbnail(s)
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 15 2018, 01:35 PM
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Posts: 5,074
Thanks: 2039


Rio Tinto joins race for Teck's copper project stake: sources
Clara Denina
QUOTE
LONDON (Reuters) - Rio Tinto is among parties making a final offer for a minority stake in Teck Resources Ltd’s Quebrada Blanca copper mine expansion in northern Chile, a development worth $4.8 billion, two sources close to the matter said.

The world’s second largest mining company is eager to boost its copper assets, with the metal viewed in the industry as having one of strongest outlooks. Existing reserves are dwindling and increased electrification means demand is likely to be strong.

https://www.reuters.com/article/us-teck-res...s-idUSKCN1NJ23P



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


blacksheep
post Posted: Nov 13 2018, 10:43 AM
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Rio Tinto Limited successfully completes A$2,871 million off-market buy-back

Buy back completed - short positions building - notable short alert reported yesterday

QUOTE
Mon 12th Nov, 2018 7,726,570 412,414,348 1.87% 7,034,760 109.83%

https://www.shortman.com.au/stock?q=RIO

SP currently down 1.99% @ $80.935 - the market is down some 1.72% currently

Rio Tinto sells Kitimat wharf to LNG Canada for $576 million
Canadian Mining Journal Staff | about 3 hours ago
http://www.mining.com/rio-tinto-sells-kiti...arf-lng-canada/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 11 2018, 11:47 AM
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Posts: 5,074
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Speculation builds over Rio Tinto’s East Pilbara copper find as first images emerge

Ben HarveyThe West Australian
Saturday, 10 November 2018 5:00AM

QUOTE
The first clear pictures of Rio Tinto’s activities in an area of the East Pilbara rumoured to host one of the world’s great copper deposits have emerged.

Satellite pictures showing a drilling campaign have for months stoked speculation that Rio has discovered a jaw-dropping copper resource in the remote Paterson province.

An application to build an airstrip, which observers say will cost at least $10 million, was more grist to the rumour mill because it appeared to confirm a resource that justified significant outlay.

Today’s crystal-clear photos taken from a low-flying plane will likely see that speculation reach fever pitch as the scale of the drilling program becomes clear.

The photos show a 40 or 50-person camp manned by workers from drilling companies DDH1 and Titeline, a helicopter landing pad, about two dozen dongas, drilling rigs, drill ponds and a core farm in which samples are inspected.


QUOTE
Rio’s size precludes its share price from moving too much on the back of rumours but the continuing speculation has not stopped nearology plays enjoying moments in the sun. Fortescue Metals Group is the biggest player besides Rio but ASX tiddlers also have a piece of the action.

High-volume trading last week put a rocket under the price of Antipa Minerals and Sipa Resources, the wild ride experienced by the former triggering a query from the Australian Securities Exchange.

https://thewest.com.au/business/speculation...-ng-b881017433z



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 30 2018, 12:39 PM
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Posts: 5,074
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Short and sweet
Rio Tinto update on Simandou
29 October 2018
QUOTE
The non-binding heads of agreement, originally signed on 28 October 2016, for Chinalco to acquire Rio Tinto’s
entire interest in the Simandou iron ore project in Guinea has lapsed.
Rio Tinto and Chinalco, who respectively
own 45.05 per cent and 39.95 per cent of Simandou, will continue to work with the Government of Guinea to
explore other options to realise value from the world-class Simandou iron ore deposit. The Government of
Guinea owns a 15 per cent stake in the project.


The curse of Simandou
Published on October 29, 2018
QUOTE
Corruption has sterilised one of the greatest iron ore deposits on earth, writes Leon Louw.

One of the most tainted projects in African mining history has made the headlines again after Rio Tinto and Chinese company Chinalco failed to pull off a sales agreement signed in October 2016. Simandou’s history reads like the script of a Hollywood movie. Corruption, deceit, intimidation, threats, insults and accusations involving some of the most controversial business characters and political heavyweights around, has dominated the discourse about what should be the most prolific iron ore mine in the world. The announcement by Rio Tinto is the latest in a long list of statements by several entities, media houses, individuals, governments and companies; and yet it appears that there is still no clarity about who should legally own what.

read more - https://www.linkedin.com/pulse/curse-simand...icle-card_title



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 24 2018, 09:43 AM
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Posts: 5,074
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BHP may settle ATO's $1b-plus tax claim
By business reporter Nassim Khadem
Posted about an hour ago
QUOTE
The ABC understands that the world's largest miner, BHP, could soon announce it has settled a billion-dollar-plus tax dispute with the Australian Taxation Office over its Singapore marketing hub.

Big miners, BHP and Rio Tinto, had in 2015 told the Senate inquiry into corporate tax avoidance that they were under ATO investigation for allegedly shifting profits through marketing hubs in Singapore.

BHP would not comment when approached about the possible settlement with the ATO.

The company has long argued that not only is it confident of its position, but that it is willing to head to court to fight the tax man.

"BHP does not agree with the ATO's position," the miner recently said in its annual Economic Contribution Report.

Why settle rather than fight in court?
For both large corporates and the ATO there is typically a stronger pull towards settling rather than fighting matters out in court, in order to get a quick resolution.

BHP does not want interest bills on any tax owed to keep increasing.

The miner has been hit with tax bills spanning 11 years — between 2003 to 2013 — that total $661 million in primary tax. When you add in interest and penalties, this takes the total to more than $1 billion.


QUOTE
Rio Tinto also fights its tax bill
BHP is not the only miner in dispute with the ATO over its marketing hub. In 2017 Rio Tinto revealed it had been hit with a tax assessment of about $500 million for the calendar years 2010 to 2013 after it voluntarily approached the ATO more than a decade ago seeking to confirm its pricing arrangements.

The assessment was, according to its April 2017 press release, for $379 million in primary tax, plus interest of $68 million (a total of $447 million at the time).

"The amended assessments do not relate to any tax avoidance schemes as confirmed by the Australian Tax Office," Rio Tinto said in that press release.

"No penalties are payable. The issue in dispute is the pricing of certain transactions between Rio Tinto entities based in Australia and the group's commercial centre in Singapore.

"Rio Tinto considers that its pricing is in accordance with the internationally recognised OECD guidelines and Australian domestic law."

The company said it would challenge the amended tax assessments — like BHP, Rio has already paid half of the amount the ATO says it owes — as it will result in double taxation.

ABC News contacted Rio Tinto, which said there was no update on the tax matter.


https://www.abc.net.au/news/2018-10-24/bhp-...x-bill/10420346



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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