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 [...]
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
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. [...]
By Daniella D’Alimonte – Exclusive to Potash Investing News The Potash Corporation of Saskatchewan (TSX: POT) has been fairly unpredictable for the past two weeks. It has ranged anywhere between US$164.80 to US$143.40 per share. Closing on the weekend, it seems to be on its way back up. The company believes it is heading into a [...]
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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