Rio Tinto expects Mongolia nod for copper exports soon

Rio Tinto could be two weeks away from gaining Mongolian approval to ship copper from its Oyu Tolgoi mine, helping offset a slide in revenue from its US copper business as it faces pressure to slash costs and sell non-core assets. A landslide at...

Walsh sets stringent cost control measures as Rio posts $2.9bn net loss

Mining giant Rio Tinto’s new CEO Sam Walsh on Thursday set out stringent cost control measures in an effort to return shareholder value. “Under my leadership, Rio will have an unrelenting focus on pursuing greater value for shareholders. To...

Company Announcement: Rio Tinto impairments and management changes

Rio Tinto expects to recognise a non-cash impairment charge of approximately US$14 billion in its 2012 full year results

Rio's Albanese steps down as impairments weigh on company

Mining giant Rio Tinto on Thursday made the shock announcement that CEO Tom Albanese would step down after the company reported a $14-billion impairment for 2012. Iron-ore chief Sam Walsh has been appointed as his successor, effective immediately.

Petmin says market remains depressed, posts R112.7m profit

JSE- and Aim-listed Petmin is expecting improved production and sales volumes from its flagship Somkhele operation in the 2013 financial year, but said the anthracite mine would operate below capacity as a result of depressed market conditions....

Labtech Africa a leading supplier of sampling and sample preparation equipment

Labtech Africa was established in February 2001 as a leading supplier of sampling and sample preparation equipment throughout Africa, including South Africa. Through sustained design and delivery of cutting edge technology, Labtech Africa is able...

Rio Tinto’s 2012 capex plan remains in place despite lower profit

Diversified mining giant Rio Tinto would still stick to its $16-billion capital expenditure plan for 2012, despite reporting an earnings drop on the back of lower prices, CEO Tom Albanese said on Wednesday. First-half underlying earnings declined...

Rio announces executive changes, CFO to retire

Diversified miner Rio Tinto on Thursday announced major executive changes, as well as the retirement of its CFO Guy Elliott at the end of 2013. The miner said in a statement that Elliott would remain on the board of directors, and had been...

Rio, BHP score high in transparency ranking

Mining giants Rio Tinto and BHP Billiton have come up tops in a recent report by anti-corruption group Transparency International. Out of the 105 largest publicly-traded companies, Rio and BHP placed second and third respectively, with Norway’s...

Big business should regain trust – Rio Tinto chair

Diversified miner Rio Tinto chairperson Jan du Plessis has challenged major corporations to regain the trust lost during the global financial crisis, saying that business confidence could only be re-established once this was done. Speaking in...

Rio Tinto chair more confident than 6 months ago

Diversified miner Rio Tinto chairperson Jan du Plessis said on Thursday that while the global economy continued to experience volatility, the economic picture had improved. He told shareholders at Rio Tinto’s annual general meeting in Brisbane,...

Cliffs Q1 profit down 11% as mining, transport costs spike

Iron-ore and coal producer Cliffs Natural Resources on Wednesday reported an 11.1% drop in profit for the first quarter to $376-million, or $2.63 a share. This was the result of increased mining and transportation costs, which spiked by 85% to...