Australian shares closed Monday trading on another high after iron ore prices continued to soar, based on strong demand from China and supply concerns emerging from key iron ore producing country Brazil. The ASX 200 closed up 0.6% to 6,675 points, while at one point during...
Australia has asked Rio Tinto to appoint an Australian as its next chief executive, in an attempt to sharpen the mining giant’s focus on a country that generates a significant bulk of its total earnings. The Australian government’s treasurer Josh Frydenberg made the request after Rio’s...
Australia’s peak mining lobby group – The Minerals Council of Australia – has released a road map to cut carbon emissions at mine sites, in the face of growing criticism from climate action groups. The three-page climate change policy details a ‘collective commitment’ to the goals...
Rio Tinto has apologised to the traditional owners of a 46,000-year old sacred indigenous site that was blown up with dynamite during work to expand its iron ore operation in Australia’s Pilbara region. The Anglo-Australian mining giant destroyed two ancient caves last week in Juukan Gorge,...
Rio Tinto will de-escalate its COVID-19 controls across its Western Australian operations as the state enters its second phase of easing restrictions relating to controlling the spread of the pandemic. The mining giant plans to gradually revert work rosters across its operations in the coming weeks...
A host of Australian mining companies, including global industry heavyweights Rio Tinto and BHP, have made donations to relief agencies for the bushfires that continue to burn across large swathes of the country. Rio Tinto has handed AUS$1 million to the Red Cross to aid its...
Rio Tinto has approved a AUS$1 billion investment in its Greater Tom Price operations, to help sustain production capacity at its iron ore business in the Pilbara region of Western Australia. The Anglo-Australian miner’s investment in the Western Turner Syncline Phase 2 (WTS2) mine will facilitate...
Rio Tinto has become the latest mining company to launch a large-scale iron ore replenishment drive in Western Australia, after it announced it would spend AUS$2.1 billion to maintain production capacity at two projects. The Anglo-Australian major and its joint venture partners Mitsui & Co and...
Rio Tinto has posted rising iron ore shipments in its second quarter operating report, reflecting a strong environment across the board for the sector. The Anglo-Australian mining giant said it enjoyed a ‘solid’ Q2, with iron ore shipments increasing by 14% year-on-year to 88.5 million tonnes...
Fortescue Metals Group (FMG) has bought a 15% stake in Atlas Iron, along with a cash settled swap of 4.9%, taking its overall interest in the Australian iron ore junior to 19.9%. This aggregate physical and economic interest is enough to block a takeover of Atlas...