Coal – Bloomberg reported that Australian mining companies are producing and exporting coal at a loss due to take-or-pay contracts with freight companies.Losses from exporting coal at current low prices are much less than what it would cost to default on the freight agreements.
Articles Tagged "NYSE:RIO"
Iron – Iron ore prices have lost 16 percent so far this year, and that trend does not look ready to change anytime soon.
Iron – Bloomberg reported that Rio Tinto (NYSE:RIO) has announced record iron ore production for the first quarter of 2014. The increased outputs will add to a rising global surplus, according to Bloomberg.
Coal – Reuters reported today that Rio Tinto (ASX:RIO,NYSE:RIO) lost an appeal to the Australian Supreme Court to expand its Warkworth coal mine in New South Wales, Australia. Managing Director Chris Salisbury told Reuters that Rio Tinto will submit a revised plan for the mine that will include funding for woodland and employment programs and a 1,800 hectare National Park.
Iron – BHP Billiton (ASX:BHP, NYSE:BBL) is looking to "simplify" its portfolio, potentially spinning-off its non-core assets into a new company.
Iron – Bloomberg reported that according to Charles Siwawa, CEO of the Botswana Chamber of Mines, Rio Tinto plc (ASX:RIO,LSE:RIO,NYSE:RIO) may have found "huge" iron ore deposits in the country.
Potash – Rio Tinto's well-kept secret is out. The company is a joint venture partner in a rather large potash deposit in Saskatchewan, not too far from BHP's Jansen mine.
Iron – Mining Weekly reported that the government of Western Australia has okayed Rio Tinto plc's (ASX:RIO,NYSE:RIO,LSE:RIO) expansion of two of its Pilbara-based iron ore operations.
Potash – Shares of Western Potash spiked today, fueled by rumors that the development and acquisitions company could be at the center of a bidding war.
Iron – Mining Weekly reported that Rio Tinto plc's (ASX:RIO,LSE:RIO,NYSE:RIO) Alan Davies said at Investing in African Mining Indaba that the Simandou project, which is expected to put out about 100 million tonnes of iron ore annually, is a "very important investment" for the company.