The owners of Anglesey Aluminium, Rio Tinto PLC and Kaiser Aluminum Corp. (KALU), are to reconsider a U.K. government rescue deal worth almost GBP50 million. For full story, click here
Continue reading "Rio Tinto has rethought UK Govt. Rescue Offer"
Thursday, July 16, 2009
Rio Tinto’s second-quarter aluminum output slipped to 942,000 tonnes, down 1 percent from the previous quarter and 5 percent lower year on year, as it continued to close operations in an effort to slash costs. For full story, click here
Continue reading "Rio Tinto has registered 1% dip in 2nd quarter aluminum output"
Wednesday, July 15, 2009
Rio Tinto Ltd. has posted a big leap in second quarter iron ore output but warned that foreign exchange and non-cash effects at its struggling aluminum business would have a negative impact on its first half earnings. For full story, click here
Continue reading "Rio Tinto has boosted Iron Ore Output, has warned on Aluminum"
Friday, June 12, 2009
Global aluminum demand will slip 12 percent this year to 33.5 million tons because of a slump in housing starts and car purchases. For full story, click here
Continue reading "Rio Tinto declared Aluminum demand to slip 12% this year"
Sunday, June 7, 2009
Rio Tinto, the world’s third- leading mining company, has run up a bill of about $1 billion after it scrapped an investment from Aluminum Corp. of China in favor of a rights offer. For full story, click here
Continue reading "Rio Tinto will pay $1 bln after aborted deal"
Wednesday, May 20, 2009
Anglo-Australian mining giant Rio Tinto decalred that it is to consider making changes to its planned 19.5 billion US dollar tie-up with China’s Chinalco to head off a shareholder revolt. For full story, click here
Continue reading "Rio Tinto is considering changes to Chinalco deal"
Wednesday, April 15, 2009
Tom Albanese’s proposed bailout of Rio Tinto Group by Aluminum Corp. of China is expected be his last chance to hold on as chief executive officer. For full story, click here
Continue reading "Rio Tinto has got last chance with China bailout"
Tuesday, April 7, 2009
Rio Tinto Ltd. declared that it would cut more than 700 jobs at Australian mines due to a drop in aluminum demand and prices. For full story, click here
Continue reading "Rio Tinto announced cut in jobs due to low aluminum demand"
Monday, April 6, 2009
Rio Tinto PLC asked and received government permit to undertake a 3 months extra surveying for the planned deep sea port in the Cameroonian Atlantic town of Kribi. For full story, click here
Continue reading "Rio Tinto extended survey for planned cameroon port"
Wednesday, March 25, 2009
Aluminum’s fundamentals remain dire, despite the upswing in Chinese Imports. Imports in the country are rising due to an arbitrage opportunity as Shanghai Futures Exchange aluminum is selling at a premium of $400-$500 per tonne on the London Metal Exchange.
Continue reading "Arbitrage opportunity increases China’s aluminum imports"
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Tuesday, July 21, 2009