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Stock Market & Financial Investment News

News Breaks
May 28, 2014
06:25 EDTRIORio Tinto to cut 300 jobs at Mongolia copper mine, Reuters reports
Rio Tinto plans to cut around 300 jobs at its Oyu Tolgoi copper and gold mine in Mongolia, reports Reuters. According to an Oyo Tolgoi employee who declined to be named, the company sent a memo to its staff that said "Given where we are now in the lifecycle of our project and the urgent need to reduce our costs, it is critical to the success of the business to address this now." Reference Link
News For RIO From The Last 14 Days
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December 21, 2014
19:22 EDTRIOFalling commodity prices, valuations may spur rebound in mining deals, FT says
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December 18, 2014
06:52 EDTRIOVale attempt to dismiss Rio Tinto suit rejected, WSJ says
Vale's (VALE) attempt to have a lawsuit filed against it by Rio Tinto (RIO) was rejected by U.S. Southern District of New York Judge Richard M. Berman, reports the Wall Street Journal. Judge Berman also rejected Vale's argument that the case should be tried in an English court, the Journal adds. Reference Link
December 15, 2014
09:31 EDTRIORio, BHP looking to raise copper output, Reuters says
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07:36 EDTRIORio Tinto shares look undervalued, says Bernstein
After iron ore prices sank 48% this year, Bernstein thinks that Rio Tinto would be resilient even if iron ore prices dropped much further. The firm believes that the market is applying a significant discount to the stock, making the shares undervalued. It has a $63.20 price target and Outperform rating on the shares.

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