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.
- Samsung signs deal with Amazon.in to sell Galaxy K Zoom handset in India
- GE unveils smart LED light bulb – ‘Link’
- Report: iPhone 6 likely to be launched one month earlier than expected
- Huawei officially unveils its new high-end Ascend P7 smartphone
- Samsung launches its ‘Galaxy K zoom’ camera specialized-smartphone