Global miner Rio Tinto on Wednesday said it had agreed to sell its 40 per cent stake in the Bengalla coal mine in Australia to New Hope Corp for $606 million, the latest shuffle of Australian coal assets amid a sector-wide downturn.
The second phase of expansion of the Robe River Joint Venture, an iron ore project jointly operated by Nippon Steel & Sumitomo Metal Corp (NSSMC) and Rio Tinto (Australia & UK), in Western Australia has been completed.
As Rio Tinto and BHP Billiton ship more iron ore than ever to China, the Australia mining giants face a fightback from Brazil's Vale for market share that threatens to drive already weak prices even lower.
The Australian compa
Mining firm Rio Tinto has pledged to invest at least $250 million to $300 million in the construction of the underground section of the massive Oyu Tolgoi copper and gold mine in Mongolia this year, Mongolia's prime minister said.
Global mining company Rio Tinto plans to invest $500 million in a diamond project in the Indian state of Madhya Pradesh, its chief executive officer Sam Walsh said on Monday.
The company is waiting for environment approvals from the Ind
Rio Tinto declined to comment on Monday on whether it would be willing to settle a lawsuit it brought against Brazil's Vale over valuable iron ore concessions in Guinea.
Vale's general counsel said last Friday the company
Anglo-Australian miner Rio Tinto offered $3.9 billion to buy African-focused coal miner Riversdale in an agreed deal that is likely to be challenged by rivals seeking to secure coking coal reserves.
Rio's first big acquisition since it
Iran can keep its stake in a uranium mine in Namibia owned by Anglo-Australian mining giant Rio Tinto, despite new UN sanctions restricting such investments, the firm said.
UN Security Council resolution 1929, adopted in June, bans the
A Shanghai court on Monday sentenced a Chinese-Australian executive of Rio Tinto to seven years in prison on charges of accepting bribes and five years on charges of stealing commercial secrets.
The Shanghai Intermediate People's Court
A joint venture between BP and Rio Tinto, Hydrogen Energy, is pushing on with the world's first large-scale carbon capture and storage (CCS) project despite the credit crunch hitting both Abu Dhabi and California.
Hydrogen Energy chief