https://www.engineeringnews.co.za

Rio Tinto concerned about trade war, but suffered no impact so far – CEO

1st August 2018

By: Reuters

  

Font size: - +

MELBOURNE – Global miner Rio Tinto is concerned about an escalating trade war between the United States and China but has yet to feel any impact from it, CEO Jean-Sébastien Jacques said on Wednesday.

"To date it has had limited to no impact on Rio Tinto," Jacques told reporters. Rio has had no issues with orders from its US and Chinese customers, he said.

He was speaking after Rio Tinto reported a 12% rise in first-half profit, slightly weaker than analysts had expected.

CFO Chris Lynch attributed the miss partly to the market not taking into account pricing in old alumina contracts the company has, which cost Rio "a couple of hundred million" dollars as it missed out on exposure to recent price gains in alumina after the United States imposed sanctions on Rusal.

Edited by Reuters

Comments

Showroom

John Deere (Pty) Ltd
John Deere (Pty) Ltd

In 1958 John Deere Construction made its first introduction to the industry with their model 64 bulldozer.

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.151 0.203s - 156pq - 2rq
Subscribe Now