The proposal made by Rio Tinto has caused dissatisfaction among the investors. It has also resulted in the decline of the shares of the miners in the stock exchanges of London and Australia. In spite of bumper profits the shares of the miners have been losing grounds. There has been a huge amount of cash which has been generated as a result of booming commodities in the markets.
Following the takeover that Rio had auctioned way back in the year 2007, it has yet again decided to make a major acquisition, which would set it back by $16-a share this time. The latest move by Rio Tinto has come on the increasing demand for coking coal in Asia, which happens to be a major component of steel production.
- Pebble launches its App Store on Android smartphones
- Oscar Mayer unveils new ‘Wake Up & Smell the Bacon’ alarm-clock app for iPhone
- Dyson launches a quieter, more efficient bladeless fan
- Samsung reveals new Black Edition models of Galaxy S4 and S4 Mini
- Panasonic announces Lumix DMC-GH4 camera with built-in 4K video recording