Shares in BHP, Rio Tinto, and Fortescue Metals group should continue running higher today with global iron ore prices hitting two-year highs in Asian trading yesterday after Chinese buyers returned to the market after last week’s holiday break.
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With stocks of iron ore at ports and mills low after the holidays, Chinese buyers will chase spot ore cargoes from today and could push the already high price of standard 62% ore past $US100 a tonne.
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Australia will be the beneficiary of the terrible mining dam disaster in Brazil which has killed more than 80 people with upwards of 300 missing. In fact, it would be true to say there is a silver lining for Australia in Brazil’s pain – a surge in iron ore prices that will, in turn, boost export receipts and government tax revenues.
Read MoreGlobal iron ore prices and the share prices of Australia’s biggest iron ore exporters will jump as Vale, the big Brazilian exporter takes 10 of its mines and their 40 million tonnes of ore offline while it replaces potentially dangerous tailings dams.
Read MoreDecember quarter production was broadly in line with UBS estimates. A strong performance at Escondida and increased production at Kennecott were highlights.
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Rio Tinto is confident the buoyancy of the Chinese iron ore market won’t end soon as it forecasts a small rise in its 2019 export forecast in the wake of a small rise in its 2018 performance.
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A special thanks to Rio Tinto’s iron ore boss Chris Salisbury for providing a much-needed laugh for the exploration industry in what has been a tough year.
Read MoreRio Tinto has approved the US$2.6bn capital expenditure to develop the 43mtpa Koodaideri iron ore mine in the Pilbara.
Read MoreThe mini-boom in the iron ore industry has topped the $9 billion mark after Rio Tinto approved a $US2.6 billion (A$3.5 billion) investment in its new Koodaideri iron ore mine.
Read MoreHas a massive new gold/copper discovery been made in the Eastern Pilbara region of WA, along with suggestions of a separate copper find by one of the world’s biggest miners?
Read MoreSo much for Rio Tinto’s proposed $US1.3 billion sale of its stake in the huge Simandou iron ore prospect in the African country of Guinea – it has lapsed because Rio and the Chinese buyer couldn’t agree on terms.
Read MoreRio Tinto’s hush-hush copper discovery in WA’s remote North Paterson region is to get its own airstrip.
Read MoreRio Tinto has maintained its target to ship at the upper end of the guidance range of 330 to 340 million tonnes for the 2018 year to December 31, despite reporting a 5% slide in exports for the three months to September.
Read MoreWell, that’s it for capital management deals helping shareholders in Rio after the miner finally sold its stake in the huge Grasberg copper mine and will keep the money for itself.
Read MoreRio Tinto says it will return $US3.2 billion ($4.4 billion) to shareholders from the cash raised in the recent sale of coal assets via a share buyback.
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A glance through the latest expert views and predictions about commodities. Steel; mining & franking; diversified majors; thermal coal; and Nickel Mines.
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A glance through the latest expert views and predictions about commodities. Base metals; platinum; steel/iron ore; and major miners.
Read MoreShares in global miner Rio Tinto were sold off yesterday in the wake of the interim result as brokers reckoned the record dividend, buyback (with more to come) wasn’t enough.
Read MoreFirst half results were strong, although Morgans notes margin pressure is starting to build. Legacy contracts disappointed as they held down realised alumina prices. The broker notes a lack of diversification and low growth competes with high margins and low gearing.
Read MoreRio Tinto is on track for another record dividend in 2018 after its board approved the largest half year payout in the company’s history.
Read MoreMacquarie expects first half underlying earnings of US$4.8bn and iron ore is expected to account for around 60%. Net debt is expected to remain around US$4bn and, as cash from asset sales is still pending, an increase in the buyback is considered unlikely.
Read MoreProduction results in the June quarter were in line with UBS estimates, with the exception of copper and titanium dioxide. Given the strong result, guidance for all commodities is unchanged except for a narrowing of the titanium dioxide band and a reduction in IOC’s iron ore pellet and concentrate production.
Read MoreBoom times for the world’s major iron ore miners.
Read MoreCredit Suisse believes Rio Tinto is the clean way to play the steel cycle, as it offers exposure through its iron ore assets and the asset sales in coal have largely been completed.
Read MoreUBS found no surprises in its visit to the Rio Tinto Pilbara iron ore system. The focus on value over volume remains in place, and from mine to port the infrastructure is continuously being improved. However, this is getting harder and cost pressures are mounting.
Read MoreThe company has reaffirmed 2018 Pilbara shipment guidance of 330-340mt. Macquarie expects integration of AutoHaul together with the scheduled track improvements will lift rail capacity.
Read MoreWhile Rio is yet to confirm the discovery in what is Lawrence of Arabia-type country, latest satellite imagery suggests it is indeed on to something that just might shape up as special.
Read MoreWhile believing some of the bear scenarios regarding rapidly rising scrap consumption are premature, Deutsche Bank expects Chinese demand for iron ore to peak around 2020 and limit the growth potential for the major producers. The broker reduces assumptions for Rio Tinto’s iron ore production from 2021.
Read MoreA godsend for Rio Tinto as it looks ready to shed one of its most troublesome assets?
Read MoreRio Tinto off the hook, jobs saved in Gladstone in central Queensland?
Read MoreRio Tinto has become the world’s biggest iron ore miner, overtaking Brazil’s Vale in the three months to March to grab bragging rights, even if it’s going to be a brief reign as top miner.
Read MoreGlobal aluminium and alumina prices soared to six year highs on Friday as the impact of the sanctions on the big Russian controlled aluminium producer, Rusal continued to rattle global markets. That has seen Rio Tinto forced to join Glencore in being forced to declare force majeure on deals it has with Rusal.
Read MoreThe company has an agreement with EMR Capital and PT Adaro Energy to sell its 80% interest in the Kestrel mine for US$2.25bn. Citi expects Rio Tinto to return the post-tax net sale proceeds to shareholders once the deal is closed in the second half.
Read MoreRio Tinto completed its exit from coal with the sale of its Kestrel underground coking coal mine in Queensland for a better than expected $US2.25 billion. The buyers are a private equity company called EMR Capital and an Indonesian miner, PT Adaro Energy Tbk (Adaro).
Read MoreThe company has announced a US$1.7bn agreement with Glencore for the sale of its 82% interest in Hail Creek coal mine and 71.2% interest in the Valeria coal development.
Read MoreThe company has announced a binding agreement for the sale to Glencore of its 82% interest in the Hail Creek operating mine and a 71.2% interest in the Valeria development for US$1.7bn.
Read MoreRio Tinto has sold its Hail Creek coking coal mine in Queensland to Glencore for $US1.7 billion, expanding Glencore’s control over Australian coal exports.
Read MoreMore corruption claims for Rio Tinto, this time in Mongolia where the mining giant is in an increasingly nasty dispute with the government and fellow shareholder in the giant Oyu Tolgoi gold and copper project.
Read MoreSo much for all the hype about the resources boom from 2011 to 2014. The current boomlet is producing super returns for some companies, as the 2017 full year results for Rio Tinto confirmed yesterday.
Read MoreShares in mining giant Rio Tinto fell 3% yesterday (taking the two day fall to close to 6%) on reports, later confirmed of new tensions in Mongolia where it has the huge Oyu Tolgoi copper mine.
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