Rio Tinto is the world's lowest-cost iron ore miner, but boomtime investment destroyed returns.
Mined commodities and mining stocks have seen massive gains in 2016. The coking coal price quadrupled, iron ore and thermal coal doubled, and copper is up about 35% this year. We still see meaningful downside for commodity prices from current levels but acknowledge tighter markets will take time to normalise. For iron ore, we raise our near-term forecasts (in real terms) to USD 60 per tonne in 2017 and USD 50 per tonne in 2018 from USD 35 per tonne previously. For metallurgical coal, we forecast...Rio Tinto is a mining group based in the United Kingdom and Australia. Co. is engaged in the business of finding, mining and processing mineral resources. Co.'s major products are iron ore, aluminium, copper, diamonds, coal, uranium, gold and industrial minerals (borax, titanium dioxide and salt). Co.'s activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and Africa. Co.'s operations comprise four principal product groups - Iron Ore, Aluminium, Copper and Diamonds, and Energy & Minerals.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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