Posts Tagged ‘mining companies’

Victory for Rio shareholders

Friday, June 5th, 2009

Rio Tinto has walked away from the controversial $23.9 billion deal with Chinalco, following a loud and long protest campaign by institutional and retail shareholders, as well as some political figures.

As a fund-raising alternative, Rio is now in a trading halt pending a company announcement, expected to be a rights issue valued around $US15 billion.

The collapse of the Chinalco deal is also fuelling media speculation that Rio will seal a deal with BHP Billiton over iron ore operations in the Pilbara.

Rio shares on the LSE dropped overnight, amid the rights issue speculation:

LSE code: RIO.L
Source: Market Analyser. Click here for a free trial.

For more details on this news story:

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Rio – BHP speculation

Thursday, April 23rd, 2009

For anyone interested in the ongoing speculation about Rio Tinto s plans, Malcolm Maiden has provided some new material today in his article for Fairfax.

Following Rio chief Jan du Plesssis Monday morning denial of having met with BHP chairman Don Argus, the pair did in fact meet up later that same day, according to this article.

While this could mean nothing at all, says Maiden, it could also mean a lot since Argus has been known to state that BHP would be a better partner for Rio than Chinalco.

In his first conference as Rio chairman, Jan du Plessis reaffirmed the company s commitment to the Chinalco deal, and played down talk of a rights issue.

To read the full article, click here

Codes for your watchlist:

  • BHP Billiton: BHP.AX (ASX); BLT.L (London Stock Exchange); BHP.N (New York Stock Exchange)
  • Rio Tinto: RIO.AX (ASX); RIO.L (LSE)

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BHP Xstrata takeover rumours

Friday, April 3rd, 2009

Speculation that BHP Billiton and Vale are planning a takeover of mining giant Xstrata has sent Xstrata s share price rocketing on the London Stock Exchange.

A report in the Herald Sun describes takeover rumours making the rounds of London s business circles and causing a 10% rise in Xstrata s share price.

If this rumour has any truth to it, the finance media is showing surprisingly little interest in it.

Click here to read the full article

Stocks for your watchlist:

  • BHP Billiton: BHP.AX (ASX); BLT.L (London Stock Exchange); BHP.N (New York Stock Exchange)
  • Xstrata Plc: XLT.L (LSE)
  • Rio Tinto: RIO (ASX and LSE)
  • Fortescue Metals Group: FMG.AX (ASX)

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