Rio Tinto Group, the world’s second- largest mining company, had a better-than-expected second-half loss on a $14 billion one-time charge, as earnings at its iron ore unit beat analyst expectations and it lifted its dividend.
Australia’s planned mining tax will raise less than half the amount forecast by the nation’s Treasury in the next two years and reduce profit estimates for BHP Billiton Ltd. and Rio Tinto Ltd., UBS AG said.
BHP Billiton Ltd.’s $20 billion foray into U.S. shale gas has been hit by a decade-low plunge in prices, raising the specter over the world’s biggest mining company of the Alcan Inc. deal that almost sank Rio Tinto Group.
Sinochem Group, China’s biggest fertilizer trader, considers even a $10 billion bid for Potash Corp. of Saskatchewan Inc. by itself as too much, Caijing magazine said, citing Han Gensheng , the company’s vice president.
China, the world’s largest consumer of metals, said its companies haven’t applied to bid for Potash Corp. of Saskatchewan Inc. , the Canadian fertilizer producer fending off a $40 billion offer from BHP Billiton Ltd.
Record coal deals this year have slashed the number of potential targets in Australia, the world’s largest exporter. The combination of Whitehaven Coal Ltd. and Aston Resources Ltd. looms as the last prize standing.