Mining giant Rio Tinto has scrapped its proposed $US19.5 billion ($24.3 billion) transaction with Chinese company Chinalco in favour of a $US15.2 billion ($19 billion) equity raising and an iron ore joint venture with rival BHP Billiton.

Rio Tinto said this morning the deal with Aluminum Corporation of China (Chinalco), which would have lifted the China [...]

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Mining giant Rio Tinto has announced it will cut more than 700 jobs in central and far north Queensland, citing a sharp drop in aluminium prices and demand.
The company will slow down expansion of the Yarwun alumina refinery at Gladstone and cut back annual bauxite production at its Weipa mine from 19.4 million tonnes to [...]

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Fortescue Metals Group Ltd is a step closer to obtaining access to railways owned by BHP Billiton Ltd and Rio Tinto Ltd after Treasurer Wayne Swan ruled they should be opened to third parties.
Rio Tinto Ltd, the world’s second largest iron ore producer, says it is disappointed by the federal government’s decision to allow third-party [...]

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Global mining giant Rio Tinto Ltd has signed two agreements with the world’s largest copper producer CODELCO, to explore for the base metal in Chile.
The first agreement covers the Esteli prospect which adjoins the Exploradora property in northern Chile. 
The second agreement covers the Paloma prospect near the El Tesoro min and the BHP Billiton Ltd-operated [...]

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