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RIO - Rio Tinto News Story

5926p 45.0  0.8%

Last Trade - 4:45pm

Sector
Basic Materials
Size
Large Cap
Market Cap £95.21bn
Enterprise Value £99.12bn
Revenue £31.99bn
Position in Universe 14th / 1813

BREAKINGVIEWS-Crazy metal prices inflate miners’ capex conundrum

Fri 14th May, 2021 10:39am
(The author is a Reuters Breakingviews columnist. The opinions expressed are his own.) By George Hay LONDON, May 14 (Reuters Breakingviews) - Sky-high copper and iron ore values should make the likes of Rio Tinto and BHP invest in extra supply for the green energy transition. But shareholders wary of past write-downs want dividends, not risky new projects. The higher prices climb, the starker the disconnect. Full view will be published shortly. Follow @gfhay https://twitter.com/gfhay on Twitter CONTEXT NEWS - The Bloomberg Commodity Index of top commodities was trading at $92.36 on May 14, up 51% on a year ago. - Copper traded on the London Metal Exchange was trading at $10,243 a tonne, up 97% on a year ago. - Benchmark iron ore futures on China’s Dalian Commodity Exchange, for June delivery, have fallen from 1380.50 yuan a tonne on May 12 to 1,236.50 yuan on May 14. - For previous columns by the author, Reuters customers can click on HAY/ <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Wood Mackenzie article https://www.woodmac.com/news/opinion/mining-risk-will-fortune-favour-the-brave/ BREAKINGVIEWS-Cobalt angst will turn carmakers into mine owners urn:newsml:reuters.com:*:nL8N2MX1UY ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS http://bit.ly/BVsubscribe | Editing by Ed Cropley and Oliver Taslic) ((george.hay@thomsonreuters.com; Reuters Messaging: george.hay.thomsonreuters.com@reuters.net))
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