Rio Tinto and Ivanhoe Mines Ltd. have signed an agreement under which Rio Tinto has agreed to support and provide certain elements of a comprehensive funding package for Ivanhoe that will underpin the development of the Oyu Tolgoi copper/gold mine in Mongolia, Rio Tinto said this morning. The parties also have agreed that Rio Tinto,...
An analysis of reports on last year’s financial by the Big 4 miners show that cost inflation — for the most part — is here to stay, Jefferies & Co. said in a report issued today. In its “Metals & Mining: Takeaways from the Big 4,” looking at the 2011 reports by Anglo American, BHP Billiton, Rio Tinto...
By acquiring shares from third parties, Rio Tinto has become majority owner of Ivanhoe Mines Ltd., which in turn is majority owner of the Oyu Tolgoi copper/gold project in Mongolia. Rio Tinto’s stake in the Canadian firm is now 51%, it reported this morning. “Rio Tinto’s move to a majority stake in Ivanhoe further...
Early last week, Ivanhoe Mines Ltd. issued a press release stating it believed the government of Mongolia was happy with the deal it got on the giant Oyu Tolgoi copper/gold mine, despite some buzz that it would be asking more from its Canadian partner and thus from Rio Tinto as well. On Monday, the...
Ivanhoe Mines Ltd. said this morning that expects the Mongolian government to continue to support the existing deal of the nation’s ownership interest in the giant Oyu Tolgoi copper/gold mine project rather than accelerating its buy-in. The company also reported that the schedule for supply of interim electric power for the mine in on...
A page from a PowerPoint presentation given by Rio Tinto at an investor relations seminar Tuesday provides an interesting perspective on what the industry is facing during the current phenomenal demand. While opportunities abound and while Rio Tinto now has $27 billion of major capital projects under way, Guy Elliott, the company’s CFO told...
Rio Tinto has decided to break off its proposed relationship with Aluminum Corp. of China, once valued at almost $20 billion, paying the Chinese state firm an agreed-to fee of $195 million, and instead issued new stock rights to bring in a gross of $15.2 billion for its plc and Ltd. entities. Rio Tinto...
Arch Coal Inc. has agreed to purchase Rio Tinto‘s Jacobs Ranch mine in the Powder River Basin of Wyoming for $761 million, it said today. In 2008, Jacobs Ranch produced 42.1 million tons of high-quality sub-bituminous coal for sale to power generators located throughout the United States. The deal gives Arch 381 million tons...
