BHP Billiton streets ahead of the rest
The latest numbers show BHP Billiton is continuing to widen its hefty lead on its global diversified mining peers. BHP Billiton’s results for its fiscal year to 30 June 2010 unravel much about why the group recently launched a USD 40bn hostile bid for PotashCorp, the world’s biggest miner of raw materials for fertiliser (NPK, [...]
Rio Tinto approves $1.6 bln for new iron ore mine
Rio Tinto on Monday signalled it was pushing ahead with its expansion plans in iron ore while it awaits competition authority clearance to form a partnership with rival BHP Billiton in Australia. The world no. 2 producer of the steel making raw material said it had approved $1.6 billion to expand its Hopes Downs iron [...]
Are $14bn worth of Indonesian mining projects at risk?
The latest round in the battle to halt all mining in Indonesia’s protected forest areas seems to have been won by the environmentalists. This could affect, among other companies, BHP Billiton and Rio Tinto. But it is unclear just how many projects will be affected by a proposed moratorium – and how effective it will [...]
Rio Tinto in Michigan: Native Americans make a stand and bear the brunt
In 2005, the Keweenaw Bay Indian Community tried to lease the sacred Eagle Rock site from the State of Michigan for ceremonial use. Located in Michigan’s Upper Peninsula near Marquette, Eagle Rock and the surrounding Yellow Dog Plains are part of lands ceded to the tribe for hunting and fishing by an 1842 government treaty [...]
Client Earth report on Rio Tinto
London law firm Client Earth has recently published a critique of Rio Tinto’s corporate reporting in the light of the Companies Act 2006 requirements, comparing Rio Tinto’s record with its reporting, and referring the company to the Financial Reporting Review Panel, which is responsible for ensuring full and honest reporting by UK listed companies. See [...]
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