Rio Tinto Group, the world’s second- largest mining company, bolstered its dividend after reporting a 43 percent gain in second-half profit as prices for iron ore advanced and it beat a cost-cutting target.
Rio Tinto Group, the second-biggest mining company, is considering a temporary halt to construction work at its $6.2 billion Oyu Tolgoi copper and gold project in Mongolia as the government demands a greater share of profit from the mine, according to two people familiar with the plans.
Indonesia’s Bakrie family, a palm oil-to-property-empire started in 1942, offered to buy back the coal assets it helped bring to the London market with Nathaniel Rothschild in a $3 billion deal two years ago.
Samin Tan, president director of Indonesian coal supplier PT Borneo Lumbung Energi & Metal, was appointed chairman of Bumi Plc as Nathaniel Rothschild stepped down as co-chairman following a boardroom dispute last year.
Anglo American Plc, the biggest platinum producer, said output of the metal fell 24 percent in the first quarter from a year earlier after it shut a plant for maintenance, with fewer safety stoppages stemming the drop.
BHP Billiton Ltd. and Rio Tinto Group slid in London trading on speculation Australia’s incoming Prime Minister Julia Gillard will pursue a new mining tax, even after she pledged to consult companies on the plan.
Bumi Plc, the London-listed Indonesian coal venture founded by Nathaniel Rothschild, began a probe into alleged irregularities at associated companies in the Asian country, prompting a record drop in the shares.