Rio Tinto

4 Stories

Miner Rio Tinto Cuts 14,000 Jobs

Plan to reduce debt $10B also means cuts in spending on exploration

(Newser) - Global mining firm Rio Tinto will cut 14,000 jobs and scale back spending on exploration, reports the BBC, in a bid to slash its $40 billion debt 25% by 2010. The miner, the third largest in the world, said the “rapidity and severity of the global economic downturn"... More »

Mining Mergers May Take Page From Big Oil

Proposed consolidation could drive commodity prices even higher

(Newser) - When Anglo-Australian mining giant BHP Billiton announced its bid to merge with archrival Rio Tinto, the Wall Street Journal got déjà vu. The deal, which would combine the world’s largest and third-largest miners, looks a lot like the late-'90s megamergers that produced today’s Big Oil titans. “... More »

Deal Could Forge Mining Goliath

Sky-high demand for minerals driving mergers

(Newser) - The biggest mining company in the world is aiming to get even bigger. BHP Billiton's $142 billion bid for Rio Tinto has been turned down, but the firm is still keen to make a deal, reports the Wall Street Journal. The deal would be the second-largest in history, and the... More »

Retail Reports Catapult Markets

Dow's 283.86 point gain is biggest in 5 years; Rio Tinto buys Alcan

(Newser) - The Dow soared 283.86 points to 13861.73 today, its largest single-day rally since 2002 and another record close. Traders ignored ongoing bearish rumors from the subprime sector, focusing on better-than-expected June reports from a host of retailers including Wal-Mart, J.C. Penney and American Express. More »

4 Stories