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Business Description: Rio Tinto Limited (RIO) is one of the world's largest international mining groups, involved in every stage of metal and mineral production. Rio Tinto comprises five principal product groups - Aluminium, Copper, Diamonds & Minerals, Energy and Iron Ore - plus two support groups: Technology & Innovation and Exploration.
Strategy Analysis: RIO's aim is to invest in and operate large, long term, cost competitive mines and businesses. The Group concentrates on the discovery of Tier 1 orebodies and the development of Group assets into large scale, long life and low cost operations to ensure the Group can operate profitably at every stage of the commodity cycle.
Rio Tinto provided its results for the year ended 31 December 2012, reporting that 2012 underlying financial results reflect record iron ore production and shipments and a second half recovery in copper volumes. This was in the context of lower average market prices in 2012 which reduced underlying earnings by $5.3bn compared with 2011: underlying earnings of $9.3bn; a net loss of $3.0bn after impairments of $14.4bn, primarily relating to aluminium businesses as well as coal assets in Mozambique; and a 15% increase in the full year dividend to 167 cents per share.
The Age 19/06/2013 |
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The Age 19/06/2013 |
Done well, value investing is a successful, safe way to invest. The logic of the approach - buying an asset for less than its underlying value - is irrefutable.
The Age 19/06/2013 |
Snowballing debts and no means to repay them ... going bankrupt is the last-ditch option for those in a financial hole too deep to climb out from.
The Age 19/06/2013 |
One of the weapons an individual has over institutions is time, and with real value emerging at the micro-cap end of the market, smaller stocks are an area worth holding on to.
The Age 19/06/2013 |
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The Age 19/06/2013 |
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