Australian Securities Exchange Archive
December 08, 2014 BHP Billiton today announced that the new company it intends to create through its proposed demerger will be called South32. The majority of South32’s selected assets are located in the southern hemisphere with its two regional centres – Australia and South Africa – linked by the thirty-second parallel south line of latitude.
Rio Tinto has been notified by the Government of Mongolia that the terms of the project financing provisionally secured for the underground development of Oyu Tolgoi will need to be approved by the Mongolian Parliament. The Mongolian Parliament is currently in summer recess and the parliamentary approval process may take some time to work through.
Rio Tinto has reached a binding agreement for the sale of its 80 per cent interest in Northparkes to China Molybdenum Co., Ltd. (CMOC) for US$820 million. Rio Tinto chief financial officer Chris Lynch said “The sale of Northparkes represents great value for our shareholders and demonstrates our continued focus and discipline in the way
Coal production has started at the Kestrel Mine Extension, a US$2 billion dollar project near Emerald in central Queensland. The extension will add 20 years to the life of the Rio Tinto managed Kestrel Mine, the company’s only underground coal operation. Kestrel Mine general manager operations John Coughlan said “After four years of construction, seeing