Rio Tinto’s Sale of Simandou May See China Develop a Strategic Iron Ore Deposit
We raise our fair value estimate from AUD 32 to AUD 33 per share due to better-than-expected third-quarter 2016 production and higher near-term commodity prices. Aluminium and coal volumes were stronger than expected, as were the prices for coal, aluminium and iron ore. Commodity prices have generally remained favourable into the final quarter of 2016. Third-quarter copper output was slightly weaker than we forecast and 2016 volume guidance was lowered by about 4%. The overall result was positiv...Rio Tinto is engaged in finding, mining and processing mineral resources. Co. has four product groups: iron ore, which supplies the global seaborne iron ore trade; aluminium, which includes bauxite mines, alumina refineries, and aluminium smelters; Copper and Diamonds, which has managed operations in Australia, Canada, Mongolia and the U.S., and non-managed operations in Chile and Indonesia, with by-product including gold, silver, molybdenum and others such as sulphuric acid, rhenium, and lead carbonate; and Energy and Minerals, which comprises mining, refining and marketing operations across borates, coal, iron ore concentrate and pellets, salt, titanium dioxide and uranium sectors.
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