News Articles for Rio Tinto

Mining giant Rio Tinto has backed down from its decision to double the payment period on its supply contracts after widespread criticism from politicians and an outcry from suppliers.

The state's building commissioner says contractors and suppliers need to be paid within 50 days, as controversy over the extension of Rio Tinto's payment terms continues.

Philip Edmands has been appointed as partner to the Perth office of Gilbert + Tobin, effective 1 June 2016.

Prime Minister Malcolm Turnbull says he will raise mining contractors' concerns with Rio Tinto over the mining giant's move to double its standard payment terms, while premier Colin Barnett went further, saying its move was not fair or reasonable.

Corporate law firm Gilbert + Tobin has recruited former Rio Tinto Australia managing director Philip Edmands as a new Perth-based partner.

Suppliers to Rio Tinto face more financial pain after the global mining giant said it would double its standard payment terms to 90 days – twice as long as the average Australian business takes to pay its bills.

If money, careers and future investment in Western Australia were not being jeopardised, it would be amusing to watch some of Australian biggest companies adopt a management policy best described as ‘run and hide'.

SPECIAL REPORT: There has been a major shift in business influence in WA amid waning international investment and, with two elections on the way, there is a prospect of even bigger changes in political influence. Click through to see our listing of WA's most infliential leaders in politics and business.

Perth's importance as a national business centre may have faded during recent months, but it's a different matter in the inner suburb of West Perth, where several small mining companies have sprung back to life.

The chief executive of mining giant Rio Tinto will hand the reins over to the leader of the company's copper and coal division later this year.

There's an old saying in the exploration business - “If you want to hunt for elephants you need to go to elephant country." That message certainly hasn't been lost on Sipa Resources who have just muscled into well known elephant country in the Pilbara that hosts the 10m ounce Telfer Gold mine and the 30 000 tonne a year Nifty Copper mine. Sipa will spend $3m to earn 80%.

French company Sodexo is set to become one of the biggest service providers in the Pilbara after signing a $2.5 billion contract to manage all of Rio Tinto's mine camps and other facilities for 10 years.

Mining giant BHP Billiton has called for tax and workplace reforms in Australia, wading into the ongoing political debate ahead of the federal election later this year.

Mining giant Rio Tinto plans to cut around 170 jobs at its Pilbara operations in Western Australia over the next few months, unions have been told.

The consumer watchdog has sought further information from miner Fortescue Metals Group on its proposed tie-up with Brazilian iron ore giant Vale.

Smaller iron ore miners were the big winners today after the iron ore price surged overnight, whereas Fortescue Metals Group failed to sustain Monday's big gains despite announcing a joint venture

BHP Billiton says it is not keen on boosting iron ore supplies in a weak market, signalling a change in its long-held position, as it shifts focus to maintaining financial discipline.

Andrew Rowe has been appointed as the new chief executive officer of Perth Energy.

ANALYSIS: Rubbery figures and projections aside, WA's iron ore miners are breathing a little easier thanks to improving prices and a favourable exchange rate.

BHP Billiton has responded to its mammoth interim loss and the prospect of a prolonged downturn by slashing its dividend and adopting a new management structure that leaves Western Australia without a representative in the company's leadership group.

Ardiden has appointed Bradley Boyle as executive director and Michael Stares as general manager – Canadian operations. Mr Boyle was formerly a managing director of Triton Minerals.

Special Report: Falling commodity prices have led some mining contractors to circle the wagons, but others are cautiously targeting opportunities.

This week we discuss tough markets, the sports stadium, Woosha, Moody's downgrade, asset sales, Rio Tinto and mining services.

Mining giant Rio Tinto has reported an $US866 million ($A1.2 billion) annual loss, and has responded by cutting its future dividends, operating costs and capital spending, though the long-planned Silvergrass mine in the Pilbara is shaping up as one of the company's few big projects to proceed.

Tony Chong has been appointed as non-executive chairman of TV2U Worldwide. Mr Chong is a corporate and tax lawyer and also serves as the lead partner of Lavan Legal's corporate services group.

Mining giant BHP Billiton can defend its credit rating by scrapping its controversial progressive dividend policy, ratings agency Standard and Poor's says.

Ratings agency Standard & Poor's could force BHP Billiton's hand on its controversial dividend policy after lowering the resources giant's credit rating by a notch and putting it on negative watch.

Rio Tinto has agreed to sell its Mount Pleasant thermal coal mine site in the NSW Hunter Valley for $US224 million ($A319 million) plus royalties.

You probably wouldn't believe it if someone told you that Perth-based retailing specialist Wesfarmers was bigger than global resources leader BHP Billiton, but that was the situation last week on the Australian Securities Exchange as the company led by Richard Goyder quietly slipped past the global mining giant.

Mining giant Rio Tinto shipped 11 per cent more iron ore in 2015, helped by the expansion of its Pilbara infrastructure, but has narrowly fallen short of its full-year guidance of 340 million tonnes.

Mining giant Rio Tinto has put a freeze on salaries for all employees as it hunts for savings in the face of a continuing slump in commodities prices.

Australia's biggest iron ore miners are expected to slash dividends next month as the price of the steel-making commodity dropped to $US40 a tonne overnight.

South Australian Senator Nick Xenophon has renewed his call for an inquiry into the cause of the dramatic recent fall in the iron ore price while in Perth today, as shares in the state's biggest miners continued to fall.

Canny investors would be well advised to plan for the worst and hope for the best as 2016 bears down on us.

Recent annual meetings have failed to resolve long-running divisions at two of WA's most important Aboriginal corporations.

The liquidators of failed engineering contractor Forge Group have gained financial backing to pursue a claim worth about $200 million against Forge's former major shareholder.

Rio Tinto expects to cut its capital expenditure from a previously forecast $US6 billion to around $US5 billion next year, but it's unclear if the new figure includes the expected cost of its proposed Silvergrass iron ore mine.

Bell Group has been in the news recently, which is an apt reminder of the downside of debt, considering the state of play in the resources sector.

SPECIAL REPORT: The 2015 CEO salary survey has some surprising names near the top of the list while some of the state's best chief executives are unexpectedly low down.

With the iron ore price falling to nearly $US40 per tonne, analysts can't see an end to the pain any time soon.