Billion-dollar mining giant Rio Tinto Ltd [ASX:RIO] fell more than 3%, to $61.51, in mid-afternoon trade. The fall pushed Rio’s market cap below $100 billion, to $99.92 billion.Resource and Mining Stocks
Billion-dollar mining giant Rio Tinto Ltd [ASX:RIO] fell more than 3%, to $61.51, in mid-afternoon trade. The fall pushed Rio’s market cap below $100 billion, to $99.92 billion.
Alumina’s price jumped nearly 10%. The move came on the back of overnight news that China’s leadership is cutting back on steel and aluminium production.
While the bounce in commodity prices helped lift its profit, RCR Tomlinson is looking for new ways to diversify its revenue base.Shares of Rio Tinto Ltd [ASX:RIO] slumped more than 4.1% today as the iron ore price retreated from recent highs.
Given the strong run in BHP’s share price over the past year (up more than 90% from the low in early 2016) the response to the results was muted.
Shares of Santos Ltd [ASX:STO] have been trading sideways for much of 2017. However, this could all change with an upcoming ‘uber-project’ that could see a potential reversal of their five-year-long 70% fall in the stock price.
Among the commodities surging in 2016 were iron ore, thermal coal and oil. Oil in particular has doubled since February. But it hasn’t completely recovered.
Our stock market’s driven by commodity prices and the banks. That’s not great news. Despite a few promising sectors, the resources bear's alive and kicking.
We can’t be certain, but gold could start nosediving soon. If you want to prosper, I recommend shorting gold and/or buying a certain type of gold stock.Mining industry veteran Dermot Ryan joins Callum on the podcast to discuss… Why 2013 was the pivot year for Australian miners...
