By Leia Michele Toovey-Exclusive to Potash Investing News North American potash producers believe the potash market is due for a rebound after a dismal 2009, but analysts claim that potash prices will be sluggish to rebound in 2010. Last month, Belarusian Potash Company reached a deal to sell about one million tonnes of potash to [...]
The hullabaloo around Rio Tinto’s abandonment of its posed near-USD 20bn capital injection from smaller rival Chinalco replaced by the announcement of a general rights issue to raise the equivalent of USD 15.2bn, and agreeing a monster joint venture with BHP Billiton over the two companies’ West Australian iron ore assets, has sidelined the potential [...]
Rio sold assets in Argentina, Brazil and Paraguay for $1.6b to Brazilian mining group Vale, and is in talks with Chinese national aluminium producer Chinalco to sell interests in other operating businesses. For full story, click here
UK mining bellwether Rio Tinto built on Australian gains in London deals as investors warmed their hands on news it is in talks with Chinlco over a possible asset sale and investment combination. For full story, click here
Vale may have paid too much in its purchase of Brazilian iron-ore and potash assets from Rio tinto Group, according to JPMorgan Chase & Co. and Banco Santander SA. For full story, click here
Mining companies have suffered an astounding reversal of fortunes in the past few months. As boom has turned to gloom, commodity prices have slumped, leaving mining firms with painful decisions to make. Rio Tinto is the latest to suffer. For full story, click here
Rio Tinto the world’s third- largest mining company, agreed to sell South American potash and iron-ore assets to Cla Vale do, Rio Doce for $1.6 billion in cash to help meet a debt-reduction goal. Sam Catalano, an analyst at Macquarie Bank Ltd, said: This is a very positive step, given the market’s focus on its balance [...]
Rio Tinto Group, said that it won’t commit to a planned $3.5 bn potash mine in Argentina until the government gives guarantees on energy supplies & taxes. General manager with Rio Tinto, Kevin Fox, said: Rio may need to tap alternative energy sources such as coal because Argentina’s power availability is “under fairly sufficient strain. Rio also wants [...]
Rio Tinto Plc is cautiously pushing forward with a $900 mn potash mine project which the company hopes to have online in 2013. Susan Keefe, Rio Tinto communications vice president, said: The company is working with federal and provincial government officials to determine mutually acceptable solutions to the issues that require resolution to bring this project to fruition. [...]
Preston Chiaro, chief executive of Rio’s energy and minerals unit, said: Rio Tinto wants to grab 10 percent of the world potash market as demand for the fertiliser grows in step with biofuel production. For full story, click here
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