China may be routinely underestimating its steel sector output, with official 2013 figures coming in 40 million tons below a key industry estimate.» Read More
TORONTO, Dec 3- Rio Tinto Plc's re-commitment to diamonds with a $350 million Canadian mine expansion has highlighted the prospects for a handful of smaller players boasting one of the sector's rarest commodities- new mines. Global consumer demand for diamond jewelry is forecast to grow at 4 to 5 percent annually, to $31 billion in 2018 from $25 billion last year,...
Asian equities rose on Wednesday following better-than-expected U.S. growth data but Japan underperformed on the back of a stronger currency.
Scott Philips, Advisor at The Motley Fool, says a merger between Rio Tinto and Glencore makes sense but warns that the deal will be riskier for Glencore.
Take a look at some of Friday's midday movers:
Global equity markets jumped on Friday morning after the Chinese central bank unexpectedly cut interest rates to boost its flagging economic growth.
Nov 10- Last week's ousting of Mongolia's prime minister is likely to delay talks on resolving a long-running dispute over the huge Oyu Tolgoi copper and gold mine in the mineral-rich country, joint-mine owner Turquoise Hill Resources Ltd said on Monday. Mongolia's parliament voted last week to remove Prime Minister Norov Altankhuyag amid concerns about a...
TORONTO, Nov 10- Global mining companies stung by slumping commodity prices are looking forward to a modest consolation prize- weaker local currencies and falling oil prices that will help trim their costs. "It's definitely a silver lining," said Chris Mancini, analyst at Gabelli Gold Fund. Agnico Eagle Mines Ltd, which produces two-thirds of its gold in Canada,...
Nov 7- Canada's Turquoise Hill Resources Ltd reported a lower third-quarter loss due to the start of sales from its Oyu Tolgoi copper-gold mine in Mongolia and lower operating expenses. Net loss attributable to the company fell to $38.6 million, or 2 cents per share, in the quarter ended Sept. 30 from $94 million, or 9 cents per share, a year earlier.
Sam Walsh, CEO of Rio Tinto, discusses Chinese President Xi Jinping's announcement of an infrastructure stimulus package and explains what it means for his business.
European stocks closed lower on Friday after the U.S. economy produced fewer than expected jobs in October and tensions in Ukraine flared.
MONTREAL, Nov 6- A train operated by Rio Tinto Plc's Iron Ore Company of Canada derailed in Quebec and its single operator was missing following an apparent landslide, the Canadian iron ore miner said on Thursday. Early information indicated a landslide had caused the derailment of the train, which was transporting empty cars from Sept-Îles, Quebec.
Asian equities were mixed on Tuesday ahead of a Federal Reserve meeting with China's benchmark index outperforming the region following strong data.
Asia equities were mostly higher on Wednesday following a strong U.S. lead and reports of bond purchases by the European Central Bank.
Mounting anxiety over global growth and the spread of Ebola dragged Asian bourses lower on Thursday.
European shares closed sharply on Wednesday as investors shunned risky assets on fears of crumbling global growth and weak economic data.
John Meyer, analyst at SP Angel, says Glencore will come back with another merger bid for Rio Tinto.
Most Asian bourses traded higher on late Wednesday, as benign Chinese inflation data fueled hopes of additional easing while a weaker currency provided support for Japanese shares.
Asian shares traded mixed on Tuesday as fears of global economic weakness affected investor sentiment.
Asian shares fell on Monday, adding to last week's tumble, as strong Chinese data failed to soothe worries about sluggish global growth.
Asian shares were mostly lower on Wednesday following a global rout but Shanghai bucked the trend after a week-long holiday.