Articles Tagged "NYSE:RIO"

Big 3 Iron Miners Keeping Up Volume, Price Balancing Act

Iron – Reuters columnist Clyde Russell wrote today that iron ore miners BHP Billiton (NYSE:BHP) Rio Tinto (NYSE:RIO) and Vale (NYSE:VALE) are bent on keeping their dominant position in the market by increasing low cost production. The strategy will depend on whether demand from China will continue to support prices, according to the author.

Falling Prices Could Benefit Vale, BHP, Rio Tinto

Iron – Bloomberg reported yesterday that major miners such as Rio Tinto (NYSE:RIO) BHP Billiton (NYSE:BHP) and Vale (NYSE:VALE) could counter-intuitively stand to gain as iron ore prices fall. Bloomberg cites the China Metallurgical Mining Enterprise Association as saying that 20 to 30 percent of mines in that country have closed following a 44 percent drop in the price of iron ore since February, making it a good time for the miners to move in for a greater market share.

Rio Tinto Closes Deal for Guinea Iron Ore Project

Iron – The Financial Times reported that Rio Tinto (NYSE:RIO) has struck a deal with the government of Guinea for a $20 billion iron ore development project. Rio Tinto plans to push ahead with the Simandou project now that its rights have been returned, according to the Times. The company's mineral rights were previously stripped and sold to BSG Resources and Vale (NYSE:VALE).

China to Surpass US Economy, but Weak Growth Still Weighing on Copper

Copper – China’s lukewarm economic growth may have been enough to keep investor hopes up in recent weeks, but it seems that the most recent news has finally impacted copper. Despite recent indications that China’s economy will soon be greater than that of the United states, Reuters reported today that Chinese data was weak again, as the nation’s purchasing manager’s index increased only barely from 50.3 in March to 50.4 for April.