Mining behemoths Rio Tinto and Glencore reportedly considered merger January 17, 2025 Mining giants Rio Tinto and Glencore reportedly discussed a merger last year. The two companies held discussions as late as October last year, but they didn’t progress further, as first reported by the Financial Times. A merger in full or in part of Glencore, with a market cap of £46.47bn and Rio Tinto, with £164.99bn, [...]
Rio Tinto faces renewed calls to abandon primary London listing December 4, 2024 In a letter to the board, reported by the Financial Times, Palliser Capital said Rio Tinto's dual listing in London and Sydney had been an "unmitigated failure".
Weir Group equipment orders surge as cost-cutting continues November 5, 2024 Mining specialist Weir Group saw group original equipment orders rise 15 per cent in the quarter, with the first positive original equipment orders growth since the first quarter of last year. The FTSE 100 firm’s cost-cutting programme is progressing at pace, with £19m of cumulative savings brought in so far, it said in a quarterly trading [...]
UK dividends fall sharply amid mining payout cuts October 24, 2024 UK dividends fell sharply throughout last quarter as the mining sector cut dividends by £2.6bn and a strong pound pushed down payouts. Dividends from UK companies totalled £25.6bn in the third quarter, down £2.6bn or 8.1 per cent from the same period last year, according to the latest Dividend Monitor report from Computershare. The drop [...]
BHP nears £24bn settlement in Brazil for Samarco dam disaster October 21, 2024 Miners BHP and Vale are negotiating a possible settlement worth roughly $31.7bn (£24.32bn) with Brazilian authorities over a 2015 dam failure that is considered one of the country's worst environmental disasters.
BHP’s record-breaking Samarco dam trial kicks off at the High Court October 21, 2024 The largest action of its kind hits the High Court today as mining giant BHP is faces a multi-billion pound lawsuit over a dam collapse in Brazil
BHP facing 620,000 claimants in London trial over Brazilian dam collapse October 13, 2024 A landmark trial will get under way at the High Court in London later this month against Anglo-Australian mining firm BHP. London-listed BHP will defend itself against allegations of negligence and look to avoid paying damages that could rise to as much as £33.6bn at a trial from 21 October relating to its role in [...]
Rio Tinto to buy chemical firm Arcadium Lithium in deal worth billions October 9, 2024 Rio Tinto is set to acquire the chemical producer Arcadium Lithium in a $6.7bn (£5.12bn) deal. The multinational mining behemoth announced the all-cash transaction this morning and called the acquisition of the global business a “significant step forward”. It amounts to $5.85 per share, and a premium of 90 per cent on Arcadium’s closing price [...]
FTSE 100 mining giant Rio Tinto confirms interest in Arcadium Lithium October 7, 2024 The approach comes after a sharp fall in global lithium prices, partly as a result of the economic slowdown in China and sagging demand for EVs.
London dividend payouts slow as mining gravy train runs out of steam September 10, 2024 London investors were left short-changed in the second quarter of the year as miners reined in dividends after years of blockbuster payouts, according to new research. Firms like Glencore and Rio Tinto have formed the bulk of payouts in the City in recent years as swinging commodity prices pushed up profits in the sector. However, [...]