China continues to show off its influence over the London market as some of the big miners took a heavy dent on the first day when most trading desks were full after the festive celebrations.
Rio Tinto Group
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Thursday 24 June 2010
Rio Tinto confirmed yesterday that the Guinean government had threatened to strip the company of its stake in a huge iron ore project in the West African country. The dispute centres on the miner's failure to acknowledge an earlier decision to remove part of the project from Rio's control.
Thursday 24 June 2010
Outlook Is Rio Tinto the most accident-prone company on the FTSE 100 (except BP, of course)? It looks that way. The miner is embroiled in yet another row with a government (this time it's in Guinea, and about iron core concessions).
Tuesday 22 June 2010
Rio Tinto and BHP Billiton yesterday agreed to pay Western Australia increased royalties if the companies' huge iron ore joint venture in the state is given the green light.
Friday 21 May 2010
Rio Tinto, the mining group that analysts expect to be hardest hit by the proposed 40 per cent tax on resources groups' profits in Australia, said yesterday that it is not against a profits-based levy.
Thursday 13 May 2010
Rio Tinto's chief executive, Tom Albanese, broke his silence on Australia's proposed 40 per cent on profits in the mining industry yesterday, threatening to withdraw investment from the country.
Friday 07 May 2010
The spectre of other resources-rich countries joining Australia in imposing extra taxes on the mining industry was raised again yesterday when an influential state-run newspaper in China urged the authorities in Beijing to impose a similar levy.
Thursday 06 May 2010
Xstrata reported strong first-quarter production figures yesterday, saying it was confident about demand for metals as the recovery in the global economy gathers pace.
Tuesday 04 May 2010
Rio Tinto yesterday criticised a controversial new resource tax imposed by the Australian government, saying it could erode the country's competitiveness, curtail investment and limit jobs growth. Prime Minister Kevin Rudd announced at the weekend that a 40 per cent tax on profits at the big mining companies would be introduced in 2012, raising an additional A$9bn (£5.5bn) a year.
Wednesday 28 April 2010
G4S became the latest British company to become embroiled in an overseas bribery case yesterday, when two employees were jailed in Afghanistan for paying local officials to release impounded vehicles.
Friday 23 April 2010
Thursday 22 April 2010
BHP Billiton became the latest mining company to be embroiled in a corruption scandal yesterday when it admitted it has been under investigation by the US Securities and Exchange Commission (SEC) since August last year.
Saturday 10 April 2010
Rio Tinto has sounded the death knell for the 40-year-old practice of pricing iron ore through annual contracts, saying yesterday that it was following the world's other major producers by negotiating with steelmakers on the basis of quarterly agreements.
Wednesday 31 March 2010
Tuesday 30 March 2010
Tuesday 30 March 2010
The British engineer was shown a photograph of a local Communist Party official's daughter, and the cadre tapped the frame and said: "I hear you have good universities in Britain. But the American ones are good too. How will you compete when offering her a place? That's what it will take to secure the business!" The Briton lost the deal.
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