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 "rio tinto"
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.
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.
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.
For the first time in three years, Citibank has moved its 12-month sector stance from neutral to bullish. The New York-based bank said it favors diversified miners over pure-play producers this year.
Coal – Bloomberg reported that Rio Tinto plc's (LSE:RIO,ASX:RIO,NYSE:RIO) attributable thermal coal production came to 26.8 million metric tons in 2013. That's a record as well as a 12-percent increase from the previous year.
Iron – Rio Tinto (LSE:RIO,NYSE:RIO,ASX:RIO) has beaten its 2013 copper and iron ore guidance, The Australian reported.
Uranium – It may be time to take a closer look at Denison Mines.