RIO - Over $100??

[Viking]

Any taker to estimate when RIO hit the A$100 bench mark???
It has been up and down around the 90s for a while now~ it would be quite a psychological boost for the stock or perhaps it is a barrier?

[Viking]

They are well over $110 now~ since my last post~ anyway~
the rumor has it that BHP is acquiring RIO, are they any substance in them?
I remember someone talking about it a while ago on either the BHP tread of others about this~ but seems the rumor has surfaced again~

[Huang Chung]

As I understand it, European anti-trust rules would probably get in the way of a Rio BHP merger.....but if they promised to divest certain assets, there might be a possibility.

[Viking]

How do the European anti-trust coming to their picture? may i ask?

[Huang Chung]

Just what I've heard Viking....market domination and all that jazz. Not an expert in the field I'm afraid......

[Huang Chung]

After a very quick Google Viking....

Resource Investor 12/5/2007.....'However, the flip side is the anti-trust worries that might arise. Indeed, the Australian government has already stated that it would look very closely at ant-trust issues before giving its approval to any merger between BHP and Rio'.

The Australian 10/5/2007....'It would be by far the world's largest mining group, and would be the world's largest producer of copper, coking and thermal coal, and rival Brazil's CVRD as the world's largest iron ore producer.
But it would also create serious anti-trust and trade problems in several countries, and could well require significant divestments of assets, which reduce the benefits of coming together'.

But on the other hand....

Forbes 11/5/2007.....There are of course a few good reasons why a takeover wouldn't work. A BHP-Rio combination would have a 40% combined share of the seaborne iron ore market, which would rival market leader CVRD (nyse: RIO (http://finapps.forbes.com/finapps/jsp/finance/compinfo/CIAtAGlance.jsp?tkr=RIO) - news (http://www.forbes.com/markets/company_news.jhtml?ticker=RIO)- people (http://www.forbes.com/peopletracker/results.jhtml?startRow=0&name=&ticker=RIO)) of Brazil, which has a similarly sized share.

Australia's Treasurer, Peter Costello, was quoted by The Associated Press as saying that any bid by BHP would have to be scrutinized. "If BHP wants to make an offer for any company, and I'm not saying whether it will or whether it won't, it would have to pass a number of tests, including competition tests," he told reporters in Canberra. But Lehman Brothers' LaFemina believes antitrust should not be "a major issue."

[Viking]

Thank you so much HC~
Indeed looking at these quotes in May~ whether speculation of such been fuelling the RIO's rise against the trend these couple of days?

[Huang Chung]

Sky Business News said tonight that BHP had recently approached Rio's board, but was rebuffed. Looking to set up another meeting. They must have some ideas as to getting around any competition issues.

[soulman]

No rumours now. It's official and the 1 for 3 share swap pushed RIO in London up some 20 percent. It's actually equivalent to RIO being $130 plus in the Aussie market. Plus all other miners are up except BHP. Big day tomorrow for producing miners like MCR, SMY, IGO, KZL, ZFX.

[Seti]

Small error in this article - wouldn't be largest takeover ever. Vodafone's buyout of Mannesmann in 2000 was for £112b.

BHP Billiton Offers to Buy Rio; Proposal Rejected (Update7)

By Tan Hwee Ann and Brett Foley

Nov. 8 (Bloomberg) -- BHP Billiton Ltd., the world's biggest mining company, plans to pursue a takeover of Rio Tinto Group after an earlier approach was rejected, in what would be the largest acquisition in history.
A purchase of Rio, which has a market value of $159 billion, would create a company that controls more than a third of the iron-ore market, supplies the most energy coal and copper, and owns mines and oilfields in six continents. Rio, the third-largest miner behind Anglo American Plc, surged 21 percent in London trading.
``If the name of the game at the moment is resources in the ground, then why pussyfoot with junior or medium-size miners when you can go to the top?'' said Stephen Pope, chief global market strategist at Cantor Fitzgerald Europe in London. ``This deal will happen, it's just a question of time.''
The combination would be the biggest in a record year for mergers -- the value of transactions through October overtook last year's $3.5 trillion total, according to data compiled by Bloomberg. A successful bid for Rio may eclipse America Online Inc.'s $124 billion purchase of Time Warner Inc. Time Warner is now half the size it was when the deal was completed.
Rio rejected BHP's three-for-one share offer, worth 4,968 pence after BHP stock declined 5.7 percent today. Rio shares advanced 946 pence to close at a record 5,296 pence. BHP, based in Melbourne and led by Chief Executive Officer Marius Kloppers, said in a statement to the Regulatory News Service it recently wrote to Rio's board with the outline plan.
Unanimous Decision
``It significantly undervalues Rio Tinto and its prospects,'' Rio, which has a dual listing in London and Sydney, said in a separate statement. ``The boards have unanimously rejected the proposal as not being in the best interests of shareholders.''
The combination would raise antitrust issues, particularly in the iron-ore market, said Charles Bailey, an analyst at Brewin Dolphin Securities in London. BHP, Rio and Brazil's Cia. Vale do Rio Doce control about 80 percent of seaborne trade in the ore.
Rio, the world's second-largest iron-ore exporter after Vale, may now decide to combine with its Brazilian rival, according to Ian Henderson at JPMorgan Asset Management in London.
Vale Partner?
``I can't conceive a competing bid from another company coming through,'' Henderson, who manages $7 billion in natural- resource assets, said in a phone interview. ``Rio and Cia. Vale do Rio Doce may throw their arms around one another instead.''
Vale spokesman Fernando Thompson declined to comment.
BHP's offer sparked a rally in mining shares. The Standard & Poor's 500 Metals and Mining Index, which includes Freeport- McMoRan Copper & Gold Inc., rose as much as 3.5 percent. BHP was the only stock in the Bloomberg Europe Metals and Mining Index to decline today as Anglo American rose 15 percent and Xstrata Plc climbed 11 percent.
A five-year advance in metals prices has spurred more than 1,448 bids in the mining industry with a value of about $185.7 billion in the past year, according to Bloomberg data.
Escondida Mine
A combination of BHP and Rio would have a market value of about $380 billion and annual sales of about $54.6 billion, based on 2006 figures. Anglo American had revenue of $33.1 billion last year.
The merger's assets would include a stake in Chile's Escondida, the world's largest copper mine, and have operations in uranium, aluminum, diamonds, silver, lead and nickel.
BHP's assets include Olympic Dam, Australia's largest underground mine acquired as part of the A$9.2 billion purchase of WMC Resources Ltd. in 2005. BHP hasn't made a major acquisition since. The mine's resources include 79 million ounces of gold, making it the fifth-largest deposit in the world.
Rio, which reported a 43 percent increase in profit last year to $7.44 billion, will become the world's largest aluminum producer this year after agreeing to buy Montreal-based Alcan Inc. for $38.1 billion. The deal, priced at 1.72 times Alcan's revenue, will quadruple Rio's output of the light metal used in planes and car parts. BHP's offer would be worth more than seven times Rio's sales.
Shareholder Value
Acquisitions don't always work, according to an Aug. 15 report by Boston Consulting Group Inc. Mergers valued at more than $1 billion destroy twice as much shareholder value as smaller transactions, it said.
Andrew Pullar, a portfolio manager at Baker Steel Capital Management LLP in London whose $900 million in assets include BHP stock, expressed concern that the potential transaction needs approval from Rio.
``If it's going to be hostile, it's going to be a case of paying too much,'' he said.
Rio hired Morgan Stanley, Macquarie Group Ltd., Credit Suisse Group and NM Rothschild & Sons Ltd. BHP will use Goldman Sachs Group Inc. and Sydney-based Gresham Advisory Partners Ltd., said people briefed on the transaction.

[Huang Chung]

Boy oh boy.....For most of us playing the smaller end of the resource sector, I don't think it will matter whether a bid succeeds or not. Just the fear of any tie ups between Rio / BHP / CVRD, either now or in the future, will likely see the Chinese / Japanese take steps to shore up their supply of commodities so they are not dictated to by just one or two mega suppliers....i.e. deals with, or takovers of our mid-sized miners.

Looks good for our smaller iron ore companies in particular......

Opinions anyone??

[Viking]

Well, the rumor now confirmed~ and rejected~
but the repercusion will be huge IMHO~
While we were talking about the Chinese coming out with big cheque book~ seems couple of our ones is already actioning to expand their territory~ :)

I guess, this may make the small/medium miners look more like a takeover target by those mega players in the short-term... be good for the SP~

[Viking]

This one seems got his fact right~ :) and quite a balanced views~

Simon Bowers
Guardian Unlimited

The world's largest mining group BHP Billiton is seeking to take over rival Rio Tinto in a deal that would catapult it to a market valuation of about $360bn (£170bn) — greater than that of Microsoft and equivalent to the gross domestic product of Ukraine.

After weeks of market rumours, Rio today confirmed it had recently received an all-share indicative offer, which had been swiftly rejected. BHP added it was continuing to push for a meeting to discuss its proposals.

BHP's spurned takeover approach, marks a breath-taking first move for 45-year-old Marius Kloppers, who was only promoted to the post of chief executive last month after the retirement of his mentor Chip Goodyear.

Mr Goodyear had run the company since 2003, when his predecessor Brian Gilbertson resigned after failing to persuade BHP chairman Don Argus to back a planned bid for Rio. Mr Argus is firmly behind the latest approach.

Both companies have major listings on the London stock exchange but have strong roots in Australia where many of their mines are located and where they form a central a pillar of the economy.

A combination would underscore Austraila's vital role in supplying iron ore to the seemingly insatiable Chinese steelmakers in the midst of an unprecedented economic boom.

While Brazilian firm CVRD is currently the world's largest iron ore supplier, with about 36% of the global market, Rio and BHP's Australian operations are the number one and two suppliers to China, benefiting from comparatively low shipping costs. A merger would give them a global share similar to that of CVRD.

China accounts for about 40% of world iron ore consumption. Some analysts believe it will produce more than 480m tons of steel this year — double the production levels of 2003.

BHP wants to offer three shares for every Rio share, valuing Rio at a premium of about 20% using Wednesday night's share price. But Rio rejected the indicative offer — which, if successful, would be the world's second largest after Vodafone's acquisition of Mannesmann — saying it "significantly undervalues Rio Tinto and its prospects". BHP nevertheless said yesterday it "intends to continue to seek an opportunity to meet and discuss its proposals with Rio Tinto".

Last night Rio shares closed up 946p, or almost 22%, in London at £52.96. The prospect of the merger of the world number one and number three mining groups by market capitalisation sent a wave of speculative buying through the extraction stocks. Among the risers were Anglo American up 474p, or 15%, to £36.45 and Xstrata, up 348p or almost 11% to £35.73. Meanwhile, BHP closed down 100p at £16.56.

A union of BHP and Rio is unlikely to be cheered by Chinese steelmakers, led by Baosteel. They are already in the middle of tense annual negotiations with the two Anglo-Australian firms and others to set the price for iron ore next year. Mining groups are pushing for rises of up to 50% and believe they have a strong negotiating hand.

While there may be little Chinese competition regulators can do to block the possible union, analysts believe disgruntled customers may be appeased by the offer of minority stakes in certain assets, if a deal eventually materialises. Other competition issues could be satisfied by selling off assets.

Conservative analysts' estimates suggest cost savings from a takeover of Rio would be more than $500m, with much of that coming from the two group's operations in Pilbara, Western Australia, where they operate neighbouring iron ore mines with parallel rail and port facilities.

The value of iron ore mines, and potential synergies from them, are likely to prove central to any takeover discussions should they materialise, but BHP and Rio also have overlapping operations in copper, coal and aluminium.

Nevertheless, BHP said: "In preparing its proposal, BHP Billiton has examined in detail the regulatory issues and other practicalities of a combination." Rio, meanwhile, made no mention of regulatory obstacles to a merger in its rejection statement.

[Huang Chung]

Just saw Terry McCrann's piece on Sky Sunday Business where he made the suggestion that if BHP were allowed to take over Rio, then they would have to give the junior iron ore players in the Pilbera everything they want in terms of infrastructure access (i.e. rail and ports)...hence FMG's big rise on Friday.

[Huang Chung]

Boy oh boy.....For most of us playing the smaller end of the resource sector, I don't think it will matter whether a bid succeeds or not. Just the fear of any tie ups between Rio / BHP / CVRD, either now or in the future, will likely see the Chinese / Japanese take steps to shore up their supply of commodities so they are not dictated to by just one or two mega suppliers....i.e. deals with, or takovers of our mid-sized miners.

Looks good for our smaller iron ore companies in particular......

Opinions anyone??

Less than one month later and Sinosteel is bidding for Midwest.

Let the games begin. :)

[yogi-in-oz]

:)

Hi folks,

RIO ... technically, the price action on 28072008 has confirmed 25072008,
as a morning star pattern and working from a geo perspective, we can
confirm 28082008 as another significant date.

Here's our astroanalysis for RIO, over the next few months:

11082008 ... significant and positive ... finance-related???

13-14082008 ... 2 significant cycles and positive news expected here

22082008 ... minor and positive lunar aspect

28-29082008 ... 2 significant and conflicting time cycles, one
positive and one negative = flat trading at a high ???

03-05092008 ... significant and negative news expected here,
as 2 negative RIO cycles, come out to play

29092008 ... 2 negative and one positive cycle, should focus
a negative spotlight on RIO, at New Moon

06102008 ... minor and positive lunar aspect

13-14102008 ... minor and positive cycle

24102008 ... minor time cycle

29-30102008 ... minor and positive light on RIO

07-10112008 ... minor and positive news expected

17-18112008 ... significant and positive cycle - finance-related ???

25-28112008 ... 3 time cycles to bring minor news

15-16122008 ... 2 aspects to bring significant and positive news

29122008 ... positive spotlight on RIO

02-05012009 ... expecting a short and aggressive rally

07012009 ... minor news

09-12012009 ... minor and positive ... finances ... ???

15012009 ... minor news

26012009 ... minor cycle

-----

After a strong start to February 2009, particularly around 02022009,
the next round of negative cycles should begin, about 11022009 ... :)

More later

have a great day

paul

:)

=====

[Joshuatree]

ARE WE THERE YET!!!

Near a bottom!!?

Craigs have a buy,12 mth target price $66 current price $43.06. "Tier 1 Aluminium will beat expectations again" PE 2015 est 10 , D/Y 7.3% NETT
EV/EBITDA 5.2

4 traders 4 buys 6 outperforms 4 holds 4 sells but not upgraded since 12 /10.

M/star hold valn $38 on 8th Dec

[Joshuatree]

S/P $39. 15 Low debt, sustainable div (unlike BHP) re 7.5% yield but fully franked? Two thirds of worlds Iron Ore miners are underwater, many won't re open for a long ,long time.

[macduffy]

Remember when the title of this thread was a serious prospect?

Can't count the number of times I was tempted to buy a few - somehow, never did.

[Joshuatree]

For the first time in my life I'm seriously considering an op here.Will continue watching and reading about this massive lowest cost producer.DYOR

[Entrep]

BHP or RIO?

[macduffy]

BHP or RIO?

For me, neither - until the price of iron ore shows signs of an upturn. BHP is the more diversified of the two but then diversification isn't helping when all metal prices are under pressure!

[Joshuatree]

Im reading RIO (a lowest cost producer)has a sustainable yield over 7% and BHP has to borrow to pay a divv!!.This article below is suggesting the mkt is getting down there;am watching.

http://www.afr.com/business/mining/...-of-shares-to-fund-asset-buys-20160106-gm0pu3 (http://www.afr.com/business/mining/bhp-rio-tinto-tipped-to-sell-30b-of-shares-to-fund-asset-buys-20160106-gm0pu3)

[macduffy]

RIO expects the mining downturn to deteriorate further this year.

http://www.ft.com/intl/cms/s/0/af7de1cc-babe-11e5-b151-8e15c9a029fb.html#axzz3xFa5aBzr

[Joshuatree]

Feb 12 (Reuters) - Rio Tinto Ltd (RIO (http://hotcopper.com.au/asx/rio)) :


Rio Tinto 2015 full year results (RIO (http://hotcopper.com.au/asx/rio))
FY underlying earnings $4.5 billion versus $9.31 billion a year ago
Final dividend of 107.5 US cents per share
Capital expenditure expected to be around $4.0 billion in 2016
Continuing to target 20 to 30 per cent gearing ratio through the cycle.
Underlying effective tax rate of approximately 27 to 30 per cent expected in 2016.
Operating cash cost improvements (including exploration and evaluation savings) of $1 billion (pre-tax) expected in 2016
Production guidance is unchanged from the fourth quarter operations review.
Operating cash cost improvements additional goal of $1 billion (pre-tax) in 2017
Net debt as at December 31, 2015 $13.78 billion versus $12.5 billion a year ago
FY net loss $866 million versus net earnings of $6.53 billion a year ago
Sees underlying effective tax rate of approximately 27 to 30 per cent expected in 2016
Says "for 2016, we intend that the full year dividend will not be less than 110 US cents per share"
Believes that maintaining the current progressive dividend policy would constrain the business
Expects total cash returns to shareholders over longer term to be in range of 40 to 60 percent of underlying earnings in aggregate through the cycle
Believes maintaining the current progressive dividend policy would act against shareholders' long-term interests
Replacing the progressive dividend policy with a more flexible approach
Low capital paths being pursued with spend focused around silvergrass and Oyu Tolgoi underground

[Joshuatree]

Rio TintoSales and marketing
" China’s steel industry is undergoing a structural change.
o Removal of less efficient steel-making capacity and strong demand is supporting steel pricing
and currently provides a robust backdrop for high quality iron ore.
 Shipment guidance for 2018 remains unchanged at between 330 million and 340 million tonnes.




Expected spending of ~$2.2 billion on replacement mines over the next three years including initial spending on the Koodaideri,
West Angelas and Robe Valley developments.




Sustaining capital spending of ~$1 billion per year for the next three years in the Pilbara."

BHP , new $3.2 billion iron ore project too.

Looks like a good few years coming for M/S companies as the cycle enters an active up period. Holding MND indirectly, SRG and a few TPP. What are you into M/S wise.?

[peat]

I'm feeling a little bit nervous about RIO


10902

BHP confirms.

What's going to happen in the commodities sector? It looks like something will,to me.
I could be wrong of course but really looks like a bearish pattern to me.!

[wizAlvin]

only 30 + hours to get your 2020 picks in .... about ONE DAY

[peat]

just over two months ago I said


I'm feeling a little bit nervous about RIO


10902

BHP confirms.

What's going to happen in the commodities sector? It looks like something will,to me.
I could be wrong of course but really looks like a bearish pattern to me.!


turned out being more of a double top but **** really has hit the extractor now.
11100

[winner69]

Arrogant management ...somebody should blow up their HQ

Hope these Aberdeen people sell their shares

https://www.smh.com.au/business/companies/rio-tinto-feels-more-heat-on-cave-blast-as-investor-pressure-rises-20200602-p54yqm.html

[winner69]

Good news ...investors force CEO and 2 others out for RIO wanton destruction of heritage aboriginal shelters.

Hope they don’t get any severance pay

https://www.smh.com.au/business/companies/rio-tinto-ceo-top-executives-resign-amid-cave-blast-crisis-20200910-p55uf8.html

[peat]

it seems like a contradiction in goals to me for a mining company. What if the company destroyed say a years dividends in the name of heritage preservation. How would the shareholders react then?

Let the shareholders give their dividends to preservation and restoration of heritage sites if thats what they want but dont expect mining executives to not dig where they can and where they have permission to, as they did in this case.

[Jaa]

Some things are more important than money.

[kiora]

This looks and smells pretty ugly!
"The mining giant, which owns just under 80 per cent of New Zealand Aluminium Smelters (NZAS), said it estimated there were 217,000 tonnes of spent cell lining (SCL) on the site, about 20 per cent more than the amount previously reported.

While the material is mineral rich, it is also hazardous and costly to move"
https://www.nzherald.co.nz/business/auditors-raise-estimates-of-waste-at-tiwai-point-months-after-government-questioned-provision/VIWCXGIEIJKFWHTJL6UHHU5FKU/?utm_source=ST&utm_medium=email&utm_campaign=ShareTrader+AM+Update+for+Saturday+1+ May+2021

And this doesn't even cover the gooey stuff stored off site. Sounds like a cesspit waiting to happen.
Making money hand over fist on the back of their cheap power price but were is their corporate governance?

[macduffy]

NZAS CEO resigns. Tiwai will become someone else's problem!

https://www.stuff.co.nz/business/125059785/tiwai-point-smelter-chief-executive-resigns

[kiora]

Yuck
"Robertson had laid out five conditions for Rio Tinto to get the payment, mostly around site remediation; the key one was that the company had to commit to excavating the huge smelter landfill.

That would be very expensive.

Rio Tinto has not committed to that.

"We have not yet determined the appropriate action to take with respect to the landfill," the smelter told RNZ on Thursday."
https://www.odt.co.nz/business/documents-reveal-government-offered-pay-millions-rio-tinto

What are they committed to?

[Bobdn]

https://www.bloomberg.com/news/articles/2021-07-25/record-profits-and-blockbuster-dividends-here-come-the-miners

It's going to be raining cash soon, it's so exciting!!

[jonu]

https://www.bloomberg.com/news/articles/2021-07-25/record-profits-and-blockbuster-dividends-here-come-the-miners

It's going to be raining cash soon, it's so exciting!!

Let's hope Rio Tinto put some aside to cover their environmental responsibilities at Tiwai, and stop holding our government over a barrel at every opportunity.
Was very pleased to see Contact and Meridian's plan to make use of the surplus electricity for hydrogen production once these ****holes are gone

[kiora]

Yuck
"Rio Tinto, the owner of the Bluff aluminium smelter, noted in its results statement how successful its threat to shut down the smelter late last year had been. The threat led 51% state-owned Meridian Energy to give Rio Tinto a $60m per year electricity price cut, which means the smelter now pays just $35 per megawatt/hr. That compares with the average wholesale electricity price since January, when the price cut was introduced, of $239 per megawatt/hr. The price this week in the lower South Island is $103/mw/hr."
https://thespinoff.co.nz/business/29-07-2021/why-those-in-energy-poverty-should-be-angry-about-rio-tintos-latest-results/?utm_source=ST&utm_medium=email&utm_campaign=ShareTrader+AM+Update+for+Saturday+31 +July+2021

[Bobdn]

This looks like good news too for Rio and BHP. A looming copper shortage..

https://www.youtube.com/watch?v=6LBC8ntzgIA

I get most of my copper exposure through asr.nzx, asd.nzx and Vanguard's materials ETF (VAW). I'm highly diversified across sectors and countries - while I'm loving the commodities boom and will let my investments ride, who knows where this will go. We've all been here before and we know the music can stop abruptly.

[kiora]

"Actions speak louder than words; let your words teach and your actions speak." - Anthony of Padua."

https://www.stuff.co.nz/national/126642522/rio-tinto-commits-to-removing-toxic-substance-being-stored-at-tiwai-point
" They contain fluorides, cyanides and nitrides, and can produce explosive gases when mixed with water."

[peat]

13080
we know the music can stop abruptly.

34% down in one single quarter.

[kiora]

I wonder how many squillions it will cost to clean up Bluff properly?
They seem to be good at kicking the can around the road then screwing cheaper & cheaper power

[RTM]

I wonder how many squillions it will cost to clean up Bluff properly?
They seem to be good at kicking the can around the road then screwing cheaper & cheaper power

If the price of aluminum holds, we may never find out.

[Beagle]

13080

34% down in one single quarter.

BHP graph looks very similar. I don't get it, commodity and oil prices are going gang busters and the share prices of both are tanking ?

[clearasmud]

BHP graph looks very similar. I don't get it, commodity and oil prices are going gang busters and the share prices of both are tanking ?
Hi Beagle, BHP sold off its oil and gas recently, also their main product, iron ore has recently collapsed.

[Beagle]

Hi Beagle, BHP sold off its oil and gas recently, also their main product, iron ore has recently collapsed.

Thanks. Also noted overnight some experts expecting a really bad slowdown in China which could badly affect most commodity prices.

[kiora]

Did you know every household in NZ is subsidising Rio $200/year?
"He said as a consequence households could be paying up to $200 more per until 2024, when the power supply contract between the power generators and the smelter expires.

Stevenson-Wallace said the arrangement had led to greater electricity demand, higher wholesale electricity prices, and more gas and coal generation."
https://www.1news.co.nz/2021/10/26/tiwai-subsidy-may-leave-households-paying-200-more-in-power-ea/?utm_source=ST&utm_medium=email&utm_campaign=ShareTrader+AM+Update+for+Thursday+28 +October+2021

[peat]

I've put in an order just above $A94

[peat]

I've put in an order just above $A94
That order at the end of 2021 never got hit but I did pick up some in July this year at 96

Starting to look interesting as tho 9 months of bear is the finish.

14323

[peat]

On a tear!

[kiora]

So how far have they got in cleaning the s#%^t up?
Only mentions on site clean up???
"Blenkiron said the smelter would clean up residual pollution at the site, whether or not it continued manufacturing after 2024."
https://www.odt.co.nz/regions/southland/tiwai-smelter-head-focused-continuing-operations

""I'm hopeful that through our aluminium, our participation in the energy sector and our determination to be responsible environmental guardians that our story can continue beyond 2024," he said."

yeah right???

What about offsite slag ?

[kiora]

The slag ouvea premix from aluminium smelter isn't going away by itself. Now left with Mataura council/residents to deal with ???


"Mataura used to be a paper mill town. Nowadays the old white warehouse building that sits by the river, right in the middle of town, is used for storage. But not ordinary storage. For years it has been the resting place of what they call ouvea premix – waste from the aluminium smelter that, once wet, is highly toxic and releases ammonia."
"Environment Southland is warning Mataura residents to be prepared to evacuate their homes at short notice after engineers have raised concerns about section of stop bank at risk of erosion in flood.

The regional council was immediately procuring 27,000 tonne of rock for a permanent solution after a geophysical report found high river flows could create erosion leading to failure of the stop bank and flooding of the township on the true left bank– upstream of the old Mataura paper mill."

https://www.stuff.co.nz/environment/130822581/mataura-residents-warned-to-be-prepared-to-evacuate-homes-at-short-notice-after-section-of-stop-bank-at-risk-of-erosion-in-flood

https://www.stuff.co.nz/national/the-detail/119657567/the-detail-matauras-toxic-problem-with-ouvea-premix-isnt-going-away

[nztx]

The slag ouvea premix from aluminium smelter isn't going away by itself. Now left with Mataura council/residents to deal with ???


"Mataura used to be a paper mill town. Nowadays the old white warehouse building that sits by the river, right in the middle of town, is used for storage. But not ordinary storage. For years it has been the resting place of what they call ouvea premix – waste from the aluminium smelter that, once wet, is highly toxic and releases ammonia."
"Environment Southland is warning Mataura residents to be prepared to evacuate their homes at short notice after engineers have raised concerns about section of stop bank at risk of erosion in flood.

The regional council was immediately procuring 27,000 tonne of rock for a permanent solution after a geophysical report found high river flows could create erosion leading to failure of the stop bank and flooding of the township on the true left bank– upstream of the old Mataura paper mill."

https://www.stuff.co.nz/environment/130822581/mataura-residents-warned-to-be-prepared-to-evacuate-homes-at-short-notice-after-section-of-stop-bank-at-risk-of-erosion-in-flood

https://www.stuff.co.nz/national/the-detail/119657567/the-detail-matauras-toxic-problem-with-ouvea-premix-isnt-going-away


in the more recent article of the two linked:

"It’s a highly toxic substance if it becomes wet and while many Mataura homes were flooded, a major disaster was narrowly escaped as it remained dry. It has since been removed."

[peat]

Rio still looking strong and of course there could be a correction at any time the move looks more and more impulsive. glad to have got some at 96 and will add if it goes below 100 which it might do without necessarily changing the outlook
14393

having some BHP does NOT count as diversification much (tho a little say if either has a bad disaster like BHP did a while back)

these companies are both large enough esp BHP that even within themselves they contain a wide range of products and hence diversificiation - though usually of course all the commodities move in the same direction..

[peat]

We are now in the 122's and its looking a bit extended in my view - could well be a fifth wave in place. soon be time to take some off the table and wait for a retracement I think - although as often with me I get out too soon. I have a bad habit of not letting my profits run , but given we are generally considered to be facing a global recession it may pay to bank it. So next week I will look to sell into any further rally, certainly keep an eye out for any reversal patterns - there is one already, RSI divergence, but of course that can run for longer than expected or be negated. Will we see any candle patterns that point to a change of trend?

14417

[peat]

guess I will have to make a hat-trick on this thread

is that an abandoned baby?

14454

[nztx]

https://hotcopper.com.au/asx/rio/

Plenty of fresh news on lost item - infact every line

but alas what goes up .. when the spotlight goes off .. does what ?

When does next capsule drop occur to continue all the media attention ? ;)

[peat]

https://hotcopper.com.au/asx/rio/

Plenty of fresh news on lost item - infact every line

but alas what goes up .. when the spotlight goes off .. does what ?

When does next capsule drop occur to continue all the media attention ? ;)

are you saying RIO price has been going up because of their losing a radioactive capsule, and the media attention arising from that?

[nztx]

are you saying RIO price has been going up because of their losing a radioactive capsule, and the media attention arising from that?

I didn't say that - did I ? :)

[kiora]

No worries ? Yeh right ! Its just not there back yard.
"Aluminium leaching into Tiwai Pt reserve '440 times' above limit"


https://businessdesk.co.nz/article/property/aluminium-leaching-into-tiwai-pt-reserve-440-times-above-limit?utm_source=7am+Headlines+from+BusinessDesk&utm_campaign=918e1e6746-7am+Headlines&utm_medium=email&utm_term=0_617c2ef34a-918e1e6746-446239310