|Bid||76.08 x 416200|
|Ask||65.36 x 144900|
|Day's range||68.39 - 69.31|
|52-week range||50.92 - 72.01|
|PE ratio (TTM)||20.17|
|Forward Dividend & Yield||N/A (N/A)|
|1y target est||57.48|
The U.S. Securities and Exchange Commission has charged mining company Rio Tinto and two of its former top executives with fraud, saying they inflated the value of coal assets in Mozambique. Laura Frykberg reports
Oct.16 -- Rio Tinto Group is on track for record annual shipments of iron ore as the world’s second-largest exporter’s rail capacity increases and imports by China’s steel mills keep surging. Bloomberg's David Stringer reports on "Bloomberg Daybreak: Asia."
Rio Tinto Group has held talks with Indonesian groups, including state-owned PT Indonesia Asahan Aluminium, about a possible exit from its interest in the giant Grasberg copper and gold operation, according ...
Capitalism is supposed to be a fight for survival. Most discussions of markets lapse into Darwinian clichés before too long. In particular instances, however, the market can be remarkably forgiving of ...
South32 Ltd. is studying a potential bid for Rio Tinto Group’s A$2 billion ($1.6 billion) coking coal portfolio, people familiar with the matter said, as it seeks to take advantage of surging prices for ...
Rio Tinto's ill-conceived foray into Mozambique coal - which became one of the worst mining deals of the decade-long commodities boom - has returned to haunt the Anglo Australian company, raising questions ...
A continued pullback in the pound helps push U.K. stocks higher Wednesday, as lackluster figures on British wages may help shape the Bank of England’s thinking on an interest-rate hike.
For executives in the mining industry, only just emerging from a decade of disastrous investments, the prosecution of two former Rio Tinto Group officers by U.S. authorities is the latest reminder of how ...
Rio Tinto and two former senior executives were hit with US fraud charges, and the miner with a UK penalty, on Tuesday for allegedly trying to hide a multibillion-dollar business failure by inflating the ...
Mining giant Rio Tinto and two top former executives have been charged with fraud by the US market regulator for allegedly inflating the value of an African coal business that cost the company a $2.9 billion writedown. The Securities and Exchange Commission (SEC) has accused RioTinto, former chief executive Tom Albanese and former finance head Guy Elliott of seeking to "hide or delay" disclosure of problems at the Rio Tinto Coal Mozambique (RTCM) business, which was acquired in 2011 for $4 billion and sold for just $50 million three years later. The SEC will allege in court that Rio's top executives breached disclosure rules "by hiding from their board, auditor and investors the crucial fact that a multi-billion dollar transaction was a failure".
Rio Tinto (RIO.AU) said it will vigorously defend itself against fraud allegations over the timing of the impairment in relation to its failed acquisition of the Australian-listed, Mozambique-focused coking coal explorer Riversdale Mining. The U.S Securities and Exchange Commission has charged Rio Tinto, its former CEO Thomas Albanese, and its former CFO Guy Elliott with fraud for inflating the value of the Mozambique coal assets acquired for $3.7 billion and sold a few years later for $50 million. The SEC’s complaint, which was filed in federal court in Manhattan, alleges that the miner and and the two former executives failed to follow accounting standards and company policies to accurately value and record its assets. “As alleged in our complaint, Rio Tinto’s top executives allegedly breached their disclosure obligations and corporate duties by hiding from their board, auditor, and investors the crucial fact that a multi-billion dollar transaction was a failure,” said Stephanie Avakian, Co-Director of the SEC’s Enforcement Division.
Two former top executives from mining conglomerate Rio Tinto PLC have been charged with fraud, according to a Securities and Exchange Commission announcement Tuesday. The SEC has accused former Chief Executive ...
Rio Tinto Group’s calamitous $3.7 billion coal deal in Mozambique keeps coming back to haunt the world’s second-biggest miner, three years after it unloaded the mine.
Rio Tinto and two former top executives were charged with fraud by US authorities Wednesday, accused of inflating the value of the company's Mozambique coal assets and failing to disclose mounting losses. The world's second biggest miner vowed to "vigorously" defend itself against the allegations, while announcing it had separately settled a case with Britain's Financial Conduct Authority about the timing of writing down the same projects. Under that arrangement, Rio was fined 27.35 million pounds (US$36 million) for breaching disclosure and transparency rules by failing to carry out an impairment review in a timely manner.
Mining giant Rio Tinto has lifted iron ore shipments by slightly more than expected in the third quarter, helped by improved rail capacity and performance at its Pilbara operations. The world's second-largest iron ore exporter - after Brazil's Vale - shipped 85.8 million tonnes of iron ore in the September quarter, up six per cent from a year ago. UBS had forecast quarterly shipments of 84.6 million tonnes.
Rio Tinto lifted third quarter iron ore shipments from its Pilbara operations by slightly more than expected on the back of an improvement in rail capacity and performance. The world's second largest iron ore exporter shipped 85.8 million tonnes of iron ore in the September quarter, up six per cent from a year ago. UBS had forecast quarterly shipments of 84.6 million tonnes.
Rio Tinto Group is on track for record annual shipments of iron ore as the world’s second-largest exporter’s rail capacity increases and imports by China’s steel mills keep surging.
Rio Tinto Group is weighing the sale of Europe’s biggest aluminum smelter, according to people with knowledge of the matter, amid a rebound in the price of metal used in airliners and beverage cans.
Shares in mining giants Rio Tinto and BHP Billiton are overvalued because investors are "too optimistic" about future growth in demand for commodities, according to a sector analyst. MorningStar's Matthew Hodge has recommended investors reduce their stake in BHP and sell Rio, saying the recent uptick in commodity demand and prices is just a "cyclical upturn" driven by China's 2016 stimulus. The renewed activity from China has helped push BHP and Rio into a strong recovery from steep falls in February 2016, when shares dropped to $14.27 and $37.03, respectively.