Rio Tinto News

LONDON: Excess capacity in aluminum smelting will drag on for years to come, even while losses weigh on producers, as political pressures in China and Russia to keep jobs and push self-sufficiency prevent or delay plant closures.A Rio Tinto acknowledged a gloomy outlook for the sector this week, when it slashed the book value of its Alcan unit by ... (more)

The world is in the grip of a commodity price revolution. Tom Bawden explains why scarce resources are going through the roof The world is in the midst of an unprecedented scramble for resources - and it's only going to get worse.

Rio Tinto PLC , the mining company, said Friday that it acquired 600,000 ordinary shares for cancellation at an average price of 3,752.8 pence per share.Copyright © 2012 ... Read the full story at Fox Business UAE seeks stronger relations with Kyrgyzstan The United Arab Emirates has reiterated its interest in boosting bilateral relations with ... (more)

Excess capacity in aluminium smelting will drag on for years to come, even while losses weigh on producers, as political pressures in China and Russia to keep jobs and push self-sufficiency prevent or delay plant closures.

RIO Tinto has not been allowed to appeal against a court's decision to declare an employment agreement for its Pilbara iron ore workforce invalid.

The company also was affected by high cost inflation, which has impacted the global mining industry as a whole.

World no.2 iron ore miner Rio Tinto lost a court fight on Friday over an old non-union agreement at its highly profitable iron ore mines, ending a three-year-old battle rendered moot by changes in Australian industrial relations laws.

Rio Tinto Group lost a bid to keep using non-unionized workers in Western Australia's Pilbara region, a decision a lawyer for the world's third-biggest mining company said could affect other companies.

LINKEDIN is reporting a strong fourth quarter as the online professional networking service added 14 million members.

Credit Suisse posted a surprise fourth-quarter net loss as its investment bank struggled and it took almost 1bn Swiss francs of charges as it slashes costs and risky assets to meet stiffer capital rules.

Rio Tinto chief executive Tom Albanese today announced he will forgo his bonus for 2011 as retribution for his disastrous acquisition of the Alcan aluminium business.

Shares struggled but the euro recovered on Thursday, as markets were left without a clear direction after Greek political leaders failed again to conclude a deal for a bailout package, which Athens needs to avoid a messy debt default.

Tom Albanese , who received salaries, bonus and benefits of $2.97m in 2010, has said he will waive his bonus entitlement after Rio was forced to take a $9.3bn charge, largely in relation to its $38.7bn acquisition of Alcan in 2007.High raw material costs, stuttering growth in many economies around and stronger than expected competition from... ...

Rio Tinto, which said last year it would sell 13 aluminum assets, booked a $8.9 billion impairment charge on the business.

Global miner Rio Tinto reported a 6 percent drop in underlying second-half profits and took a $9.3 billion charge mainly against its aluminum business, but appeased investors with a huge dividend hike, underscoring its long-term confidence.

Global miner Rio Tinto reported a 6 percent drop in underlying second-half profits and took a $9.3 billion charge mainly against its aluminium business, but appeased investors with a huge dividend hike, underscoring its long-term confidence.

Rio Tinto has booked a 59 per cent slump in full year net profit due mainly to a writedown of its aluminium business, but underlying earnings jumped eleven per cent.

Tom Albanese, Rio's boss, reckoned that was "ball parks" away from fair value. Even when BHP raised its offer from three to 3.4 of its shares for every Rio share, Albanese protested about a "significant" u... ... Read the full story at Guardian

100 per cent) to extend the life of the Nammuldi iron ore mine. With this funding, the project to increase production capacity in the Pilbara to 283 million tonnes a year is now fully approved.

Rio Tinto PLC said Wednesday a further US$3.4 billion will be spent expanding its iron ore operations in Western Australia's Pilbara region.