Rio Tinto (LSE:RIO) was formed in 1873 when a group of investors bought the mining rights to an area next to the Rio Tinto river in Southwestern Spain. The Rio Tinto has flowed red since mining began there about 5,000 years ago.
Today Rio Tinto operates on six continents, mainly focused in Australia and Canada. Rio Tinto’s operations include mining copper, diamonds, iron ore and coal. However, after purchasing Alcan in 2007, Rio Tinto became the largest aluminum producer in the world.
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The Swiss commodities giant wants to target other opportunities, and is ready to start the sales process for its Rolleston mine in Queensland.
Hedge fund Senrigan Capital Management is questioning the $2.5-billion equity raising, saying it is unfair to minority shareholders.
Yancoal plans to raise $2.5 billion in equity to fund the purchase of Rio Tinto’s coal assets in Australia.
The “Argyle Everglow” is the largest red diamond in the history of the company’s Argyle tender, and could sell for millions.
Rio Tinto has spent $90 million so far on the development of the Jadar lithium project in Serbia.
ASX-listed junior miner TerraCom has reopened the coal mine it purchased from Rio Tinto last year.
Almost four months after soundly rejecting WashCorps’ initial offer, Dominion said the US-based company will acquire all of its outstanding common shares.