LONDON, UK / ACCESSWIRE / October 4, 2017 / Pro-Trader Daily looks at the latest corporate events and news making the headlines for Rio Tinto PLC (NYSE: RIO), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=RIO. The Company announced on October 02, 2017, that it has successfully completed the first fully autonomous rail journey at its iron core operations in the Pilbara region, Western Australia as it moves towards full commissioning of the AutoHaul project in H2 2018. The 100-kilometer pilot run was executed without a driver on board, making it the first fully autonomous heavy haul train journey ever completed in Australia. The journey was being closely monitored by the Company teams and the National Rail Safety Regulator, both from the Operations Centre in Perth and the ground unit. For immediate access to our complimentary reports, including today's coverage, register for free now at:

http://protraderdaily.com/register/

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on RIO. Go directly to your stock of interest and access today's free coverage at:

http://protraderdaily.com/optin/?symbol=RIO

The Announcement

According to Rio Tinto, the pilot run from Wombat Junction to Paraburdoo being successful, is a significant step towards the induction of AutoHaul in 2018, subject to all relevant safety and acceptance criteria are met. The Company plans to operate the world's first full-autonomous heavy haul, long-distance rail network, which would unleash safety and productivity benefits for its business. Rio Tinto stated that it has already realized the gains from AutoHaul including reduced variability and increased speed across the network, hence enabling reduced average cycle times.

The AutoHaul project is aimed at automating trains that are crucial to transport the iron ore to Company's port facilities. Currently, about 50% of pooled fleet rail kilometers are completed in autonomous mode, with drivers on board, while 90% of pooled fleet production tonnes are AutoHaul enhanced. The Company currently operates over 200 locomotives on more than 1,700 kilometers of track in the Pilbara, transporting iron ore from 16 mines to the Company's four port terminals.

Company Growth Prospects

On September 01, 2017, Rio Tinto completed the sale of its wholly-owned subsidiary, Coal & Allied Industries Limited to Yancoal Australia Limited. Rio Tinto stated that it would receive a total consideration of $2.69 billion for the sale, which was comprised of $2.45 billion in cash, paid on the day of closure, while an additional $240 million would be paid on the basis of unconditionally guaranteed royalty payments.

The first royalty payment of $10 million was made on September 01, 2017, and an additional $100 million would be received by the end of the year, Rio Tinto stated. Another $90 million was expected to be paid before the end of 2018. Under the terms of the sale, Rio Tinto would also receive an additional royalty linked to coal prices and was capped at $410 million.

Post the announcement, on September 21, 2017, Rio Tinto announced an additional $2.5 billion share buy-back program to return the proceeds of the sale of Coal & Allied to its shareholders. The capital return programme, according to the announcement, would be executed through a combination of an off-market buy-back tender, targeting $560 million of Rio shares, with the balance $1.9 billion of additional funds would be allocated to the Company's existing on-market purchases of Rio Tinto plc shares. This announcement brought the total share buy-backs announced by the Company during 2017 to $4 billion, comprising $2.5 billion, and the $500 million and $1 million share buy-back programmes announced on February 08, 2017, and August 02, 2017, respectively.

Last Close Stock Review

On Tuesday, October 03, 2017, the stock closed the trading session at $48.39, slightly up 0.96% from its previous closing price of $47.93. A total volume of 2.23 million shares have exchanged hands. Rio Tinto's stock price soared 11.78% in the last three months, 17.94% in the past six months, and 44.19% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have rallied 25.82%. The stock is trading at a PE ratio of 14.11 and has a dividend yield of 4.55%. At Tuesday's closing price, the stock's net capitalization stands at $86.45 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily