Rio Tinto rules out Glencore merger

Newmont Cadia making its mark Newmont Corporation’s (ASX: NEM) Cadia operation in Orange, NSW has achieved The Copper Mark and The Molybdenum Mark, recognising responsible production practices at Australia’s largest underground mine. Cadia is Newmont’s first site globally to receive the award after successfully meeting more than 30 criteria needed in critical areas including environment, community, human rights and governance, amongst others. Newmont’s Cadia mine is the nation’s second largest copper producer and the third site in Australia to receive The Copper Mark. Cadia is the only mine to receive The Molybdenum...

Rio Tinto promises two new solar farms for energy transition Rio Tinto (ASX: RIO) has announced its plans for two new 5.25MW solar farms for the Gove Peninsula in the Northern Territory. Construction will begin in July 2024, with completion scheduled for early 2025. Aggreko will construct, own and operate the solar farms for Rio Tinto for up to 10 years. The solar farms will be built on Rio Tinto leases, following agreement with the Gumatj and Rirratjingu Traditional Owner Groups, and will help transition to a low-carbon future after mining operations cease...

China bans all BHP iron ore  China’s state-run iron ore buyer has told major steelmakers and traders to temporarily halt purchases of all new BHP (ASX: BHP) cargoes, Bloomberg reports, citing people familiar with the matter.  China Mineral Resources Group (CMRG) reportedly asked domestic buyers to suspend purchases of any dollar-denominated seaborne cargoes from BHP.  CMRG was established in 2022 in an aim to centralise iron ore demand, tighten control over the global steel market and give Chinese steel producers more control over prices.  This ban signals an escalation from CMRG, as the group similarly halted the purchase...

Rio takes full control of Jabiluka Rio Tinto (ASX: RIO) announced its compulsory acquisition of all remaining Energy Resources Australia (ERA) (ASX: ERA) shares that it does not currently own. This follows a ruling by the Takeovers Panel that Rio would assume control over rehabilitation activities at Jabiluka. As a result of Rio Tinto taking up its pro rata entitlements in the entitlement offer and the level of participation by other ERA shareholders, Rio Tinto will hold over 98% of ERA’s shares. Rio intends to proceed with the compulsory acquisition at $0.002 per ERA share, being the same...