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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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July 23, 2014
06:13 EDTRIORio Tinto says Chinese demand for iron ore 'strong,' Daily Telegraph says
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July 16, 2014
05:15 EDTRIORio Tinto raises FY14 thermal coal production outlook to 17.5M tonnes
The company's previous thermal coal production guidance was 16.7M tons. This follows a change in the production profile to produce additional higher margin thermal coal from a processing plant by-product stream at Hail Creek. As a result of this change and lower than expected production during the ramp up at Kestrel, Australian hard coking coal production has decreased to 7.4M tonnes, previously 8.2M tonnes. Semi-soft coking coal production guidance remains unchanged at 3M tonnes.Rio Tinto’s share of uranium production across Rössing and ERA in 2014 is expected to be between 4.3M-5.1M pounds. This follows operational changes at Rössing in response to current market conditions. Progression to full processing capacity at ERA is anticipated in Q3. Reference Link
05:11 EDTRIORio Tinto reports Q2 global iron ore production up 11% to 73.1M tons
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July 15, 2014
20:05 EDTRIORio Tinto iron ore output rose 10% in first half of year, WSJ reports
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