Mining Stocks News: Rio Tinto (RIO)
26th Sep 2011
Rio Tinto (ASX:RIO) is one of the world’s largest miners, mining and processing a wide range of metals and minerals including all the key base metals, precious metals, diamonds, iron ore and energy products.
The miner is widely considered among the blue chip stocks, and it is also among the biggest companies in the Australian share market.
Today, media reports have suggested that RIO is considering spinning off its aluminium assets in Australia.
RIO said last week it was planning asset sales in the aim of achieving a 40% EBITDA margin from its aluminium division by 2014.
The reports said RIO would hold its two bauxite mines as these offered the highest margins due to a supply shortage in China. Bauxite is a key source of aluminium.
Instead the asset sale would comprise three refineries and three smelters, according to the reports.
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Posted in ASX Blue Chip Shares, ASX Top 200 XJO, ASX Top 500 All Ordinaries, Financial News, Market Sectors News, Materials Stocks, Mining Shares Australia, Watch Stocks
