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Not sure why they'd do this. For what? Iron Ore in the toilet - maybe just for a while, coal being replaced by hot air. Maybe Glencore have some copper and they sell off the crap.
Usually when the deal flow has tapered off for the big merchant banks.
Mar 8, 2025 – 6.51am
EDIT: AFR
Rio Tinto Group has scrapped plans to raise as much as $US5 billion ($8 billion) in a share sale following pushback from investors, people with knowledge of the matter said.
Executives at the mining giant had floated the possibility of an equity offering in recent investor meetings after announcing its results, the people said, asking not to be identified because the information is private. The fundraising could have been used to help pay for its $US6.7 billion takeover of Arcadium Lithium as well as rebalance its shareholding between UK and Australian investors.
Chief executive officer Jakob Stausholm said last month that raising money to rebalance the company’s share register was a possibility, but that no decision had been made.
Rio decided to shelve the idea after getting significant pushback from investors in recent meetings, especially as the company didn’t think the offering was a financial necessity, the people said.
A representative for Rio declined to comment.
Kind regards
rcw1
My father held Norths and the contemptuous way they took them out, way back when, to get the Pilbara. left a bad taste. CRA was their plaything.
Toffee noses, with their 'colonial' sneers.
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@rcw1 Yeah he turned 50 a couple of months ago. Has just had a new home finished on the few acres east of Geraldton and from the murmurings he is making will probably snatch his time in the Pilbara and look for a job around there and go fishing as is his passion.
RIO 1/4erly published today (16/01/25); see attached
Reported via News Corp Media outlets today:
RBC Capital Markets analysts Kaan Peker and Ben Davis hailed Rio’s ‘good finish to the year with beats across divisions, with the small exception of titanium dioxide’.
Production guidance has been reaffirmed and projects remain all on track with Rio Tinto hoping to achieve 3 per cent compound annual growth in copper (Oyu Tolgoi), iron ore (Simandou) and lithium for the next decade, they noted.
It comes after December quarter production of 86.5 million tonnes came in 1 per cent ahead of RBC’s estimates and in line with consensus expectations of 86.8 million tonnes. That took FY24 shipments to 328.6 million tonnes, in line with Rio’s guidance of 323 million tonnes to 338 million tonnes.
But Rio’s flat shipments result for the year came as Pilbara iron ore unit cash costs likely rose to the higher range of its $US21.75-$US23.50 per tonne guidance due to inflation being at “the higher end of our expectations and lower production”.
Citi’s equity team, led by Paul McTaggart, also said it was a “solid DecQ prodn result” as RIO focuses on delivering growth from major projects. “The Oyu Tolgoi underground copper mine continues to ramp up successfully and the Simandou high-grade iron ore project & Western Range mine are on schedule for first prodn this year,” Citi noted.
Kind regards
rcw1
Reported via News Corp Media outlets today:
RBC Capital Markets analysts Kaan Peker and Ben Davis hailed Rio’s ‘good finish to the year with beats across divisions, with the small exception of titanium dioxide’.
Production guidance has been reaffirmed and projects remain all on track with Rio Tinto hoping to achieve 3 per cent compound annual growth in copper (Oyu Tolgoi), iron ore (Simandou) and lithium for the next decade, they noted.
It comes after December quarter production of 86.5 million tonnes came in 1 per cent ahead of RBC’s estimates and in line with consensus expectations of 86.8 million tonnes. That took FY24 shipments to 328.6 million tonnes, in line with Rio’s guidance of 323 million tonnes to 338 million tonnes.
But Rio’s flat shipments result for the year came as Pilbara iron ore unit cash costs likely rose to the higher range of its $US21.75-$US23.50 per tonne guidance due to inflation being at “the higher end of our expectations and lower production”.
Citi’s equity team, led by Paul McTaggart, also said it was a “solid DecQ prodn result” as RIO focuses on delivering growth from major projects. “The Oyu Tolgoi underground copper mine continues to ramp up successfully and the Simandou high-grade iron ore project & Western Range mine are on schedule for first prodn this year,” Citi noted.
Kind regards
rcw1
Dona Ferentes
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Bloomberg is reporting that Rio Tinto and Glencore are holding talks about merging their businesses, a combination that would leapfrog BHP as the world’s largest mining group.
Sean K
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Not sure why they'd do this. For what? Iron Ore in the toilet - maybe just for a while, coal being replaced by hot air. Maybe Glencore have some copper and they sell off the crap.
![](data:image/svg+xml;charset=utf-8,<svg height="796px" width="1600px" xmlns="http://www.w3.org/2000/svg" version="1.1"/>)
Garpal Gumnut
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Apart from rationalising production from similar assets RIOs board has been under considerable pressure to delist from London and just be listed on the ASX. This may be an issue for UK based directors.
Both stocks fell a bit on the news, Glencore more than RIO. I don’t believe it is a goer.
gg
Both stocks fell a bit on the news, Glencore more than RIO. I don’t believe it is a goer.
gg
Dona Ferentes
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these configurations come and go with remarkable regularity.
Usually when the deal flow has tapered off for the big merchant banks.
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Rio Tinto cuts dividends and jobs as Pilbara costs surge
The miner will pay its lowest dividend in seven years and enact “strict” cost controls on its flagship iron ore division, ending a golden era of shareholder returns.
Garpal Gumnut
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RIO has been a very big disappointment. It is my longest hold. I cannot see any improvement until the board finally moves to Sydney and it is delisted from the FTSE to trade solely on the ASX. Up 3.56% today. A 10 year monthly chart. Price has stagnated since Dec 2020. The RSI slopes down so not a buy for me atm. but a possible buy on weakness towards the bottom of it's trading range.
gg
![](data:image/svg+xml;charset=utf-8,<svg height="978px" width="1600px" xmlns="http://www.w3.org/2000/svg" version="1.1"/>)
gg
Rio Tinto scraps plans to raise up to $8b in share sale
Paul-Alain Hunt, Dinesh Nair, Thomas Biesheuvel and Swetha GopinathMar 8, 2025 – 6.51am
EDIT: AFR
Rio Tinto Group has scrapped plans to raise as much as $US5 billion ($8 billion) in a share sale following pushback from investors, people with knowledge of the matter said.
Executives at the mining giant had floated the possibility of an equity offering in recent investor meetings after announcing its results, the people said, asking not to be identified because the information is private. The fundraising could have been used to help pay for its $US6.7 billion takeover of Arcadium Lithium as well as rebalance its shareholding between UK and Australian investors.
Chief executive officer Jakob Stausholm said last month that raising money to rebalance the company’s share register was a possibility, but that no decision had been made.
Rio decided to shelve the idea after getting significant pushback from investors in recent meetings, especially as the company didn’t think the offering was a financial necessity, the people said.
A representative for Rio declined to comment.
...
Kind regards
rcw1
Garpal Gumnut
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Indeed @rcw1 . RIO is one of my picks in the yearly comp @mullokintyre and was one of the few stocks to gain yesterday, which makes me feel good about my largish holding.
I do wish they would delist from the FTSE as many large companies have.
gg
I do wish they would delist from the FTSE as many large companies have.
gg
Dona Ferentes
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I have never held RIO mainly because of the London management style. There was always an alternative ; BHP
My father held Norths and the contemptuous way they took them out, way back when, to get the Pilbara. left a bad taste. CRA was their plaything.
Toffee noses, with their 'colonial' sneers.
Sean K
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What are the chances that someone from the EDO has a recording of a Night Parrot and then crept out there and played it?
Rio Tinto has redrawn its plans for Australia’s next big copper-gold mine after the shock discovery of one of the world’s rarest birds within its project perimeter.
The night parrot, feared extinct for more than a century, has been detected at Rio’s Winu project – dubbed the copper whopper – in the Great Sandy Desert in Western Australia.
Rio has cut all identified night parrot habitat from the project’s development envelope to minimise any possibility of disturbing the critically endangered bird.
The call of a lone night parrot was detected in an area Rio had earmarked for a borefield, some distance away from the mine.
No one has seen the bird, which emerges at dusk to feed, but it was detected by audio monitoring of the site. This happened in mid-2024 after no calls were picked up in the previous 2500 nights of monitoring.
![](data:image/svg+xml;charset=utf-8,<svg height="924px" width="1580px" xmlns="http://www.w3.org/2000/svg" version="1.1"/>)
Rio Tinto has redrawn its plans for Australia’s next big copper-gold mine after the shock discovery of one of the world’s rarest birds within its project perimeter.
The night parrot, feared extinct for more than a century, has been detected at Rio’s Winu project – dubbed the copper whopper – in the Great Sandy Desert in Western Australia.
Rio has cut all identified night parrot habitat from the project’s development envelope to minimise any possibility of disturbing the critically endangered bird.
The call of a lone night parrot was detected in an area Rio had earmarked for a borefield, some distance away from the mine.
No one has seen the bird, which emerges at dusk to feed, but it was detected by audio monitoring of the site. This happened in mid-2024 after no calls were picked up in the previous 2500 nights of monitoring.
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If it was a comedy, it would be reviewed as outrageous and too caricatural....
Sean K
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Garpal Gumnut
Ross Island Hotel
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RIO is one of my picks in the 2025 year stock pick competition @mullokintyre
Some very important news for shareholders. A vote is to be held soon on it's dual listing. Palliser a major holder are keen to have it solely listed in Sydney rather than in London as well. I'm in favour. Holders check your mail and/or email for information and voting instructions.
gg
Some very important news for shareholders. A vote is to be held soon on it's dual listing. Palliser a major holder are keen to have it solely listed in Sydney rather than in London as well. I'm in favour. Holders check your mail and/or email for information and voting instructions.
gg