It's been a rough week for Rio Tinto, and it looks like the unexpected supply halts are taking a chunk out of uranium supply going forward.
Articles Tagged "Rio Tinto"
Mineweb reported that attendees of the Coaltrans Mozambique conference were told that the country's major coal producers, such as Rio Tinto plc (ASX:RIO,LSE:RIO,NYSE:RIO) and Vale SA (NYSE:VALE), need to decrease their logistics costs in order to become profitable.
Reuters reported that Rio Tinto plc (ASX:RIO,LSE:RIO,NYSE:RIO) will be selling its 50.1-percent stake in the Queensland-based Clermont thermal coal mine to Glencore Xstrata plc (LSE:GLEN) and Sumitomo Corp. (TSE:8053) for $1.015 billion in cash.
A new trade agreement between Canada and the EU is akin to a "new day" for Canada's uranium industry.
Linc Energy Ltd. (ASX:LNC,OTCQX:LNCGY) announced that New Emerald Coal Ltd., its 100-percent-owned subsidiary, has entered into a sale and purchase agreement under which it will acquire the Blair Athol coal mine from BACJV, a joint venture between Rio Tinto Coal Australia, Leichhardt Coal Pty Ltd., JCD Australia Pty Ltd. and J-Power.
The Wall Street Journal reported that talks regarding the sale of Rio Tinto plc's (ASX:RIO,LSE:RIO,NYSE:RIO) stake in the Queensland-based Clermont coal mine have stalled after bids from three different companies did not meet the mining giant's expectations.
Reuters reported that BHP Billiton (ASX:BHP,NYSE:BHP,LSE:BLT) will not sell its Australia-based Gregory Crinum coal mining complex. Bankers believe that the move may cause problems for other miners hoping to sell coal properties.
The Wall Street Journal reported that Rio Tinto plc (ASX:RIO,LSE:RIO,NYSE:RIO) is thinking of selling all or part of its Mozambique-based coal unit and is in the process of choosing a financial advisor to help it do so. The news follows Rio's decision earlier this week not to sell its diamond unit.
The Wall Street Journal reported that Coal India Ltd. (BSE:533278), Shenhua Group Corp. and Aditya Birla Group have said they will bid for Rio Tinto plc's (ASX:RIO,LSE:RIO,NYSE:RIO) Australian coal assets, according to "a person familiar with the matter." The companies must submit their first-round bids this week.
Uranium prices have fallen slightly, but the outlook remains bright.