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Nyrstar May Forego Expanding in Australia Because of Super Tax
Zinc producer Nyrstar NV said the 40 percent super tax on mining companies in Australia could keep them from expanding their business in the country, although current operations won't be affected. In an interview today, Nyrstar’s legal and external affa...
Commodity Markets (May 6th, 10)
World Steel Association Furious Over BHP Billiton (ASE:BHP) and Rio Tinto (TSE:RIO) and Vale SA Contract Changes
The World Steel Association is up in arms about the changes in the way iron ore contracts by leading companies BHP Billiton (ASE:BHP) and Rio Tinto (TSE:RIO) and Vale SA, as they've changes from an annual to a quarterly time-frame. Representing about 180 coun...
Commodities (Apr 2nd, 10)
Australian Foreign Minister Stephen Smith Says Verdict against Rio Tinto's (ASE:RIO) 'Hu' Could Harm Business Ties
Australian Foreign Minister Stephen Smith said today the trial, conviction and sentencing of Australian national Stern Hu to 10 years in prison could harm business relationships between the two countries. Smith said to reporters, “This was an opportunit...
Australia (Mar 29th, 10)
Rio Tinto (ASE:RIO) Australian Executive Confesses to Accepting Bribes in China
With much at stake, a Rio Tinto executive confessed he had taken bribes, and now Stern Hu faces up to 20 years in prison as a result. Hu was the lead negotiator for iron ore for Rio Tinto with China. It's hard to tell if the sentencing will take into account ...
Australia (Mar 22nd, 10)
China Warns Australia on Rio Tinto (LON:RIO) Case
The upcoming trial of four employees of Australian-based Rio Tinto (LON:RIO) are going on trial for commercial espionage in China next week, and China has warned Australia not to politicize the trial. After taking some time to smooth over some ruffled feather...
Australia (Mar 18th, 10)
China Indicts Four Rio Tinto (LON:RIO) Employees
Four employees from Rio Tinto (LON:RIO) have been indicted by China, with three being Chinese nationals and the fourth an Australian named Stern Hu. The three Chinese are Ge Minqiang, Liu Caikui and Wang Yong. Charges against the four are for bribery and ille...
Australia (Feb 10th, 10)
Rio Tinto (RIO.L) May Reinstate Dividend After Halving Debt
Reports are Rio Tinto (RIO.L) has a good chance of reinstating its dividend after it is expected to announce it has paid down half of its debt load. After acquiring the Canadian aluminium group Alcan, Rio Tinto had 24.9 billion pounds of debt on its books, ab...
United Kingdom (Feb 7th, 10)