Stock Monitor: Harsco Post Earnings Reporting

LONDON, UK / ACCESSWIRE / November 28, 2017 / Active-Investors issued a free report on Rio Tinto PLC (NYSE: RIO), which is readily accessible upon registration at www.active-investors.com/registration-sg/?symbol=RIO as the Company's latest news hit the wire. On November 24, 2017, the Company announced that it has extended the Channar Mining Joint Venture (JV) with China's Sinosteel Corporation. The agreement allows Rio Tinto to supply 10 million tonnes of iron ore mined from Australia's remote western Pilbara region to Sinosteel. Sign up now for our free research reports at: www.active-investors.com/registration-sg.

Active-Investors.com is currently working on the research report for Harsco Corporation (NYSE: HSC), which also belongs to the Basic Materials sector as the Company Rio Tinto. Do not miss out, become a member today for free to access this upcoming report at: www.active-investors.com/registration-sg/?symbol=HSC.

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Rio Tinto's most recent news is on our radar and we have decided to include it in our blog post. Today's free coverage is available at: www.active-investors.com/registration-sg/?symbol=RIO.

Commenting on the extension of the Rio Tinto - Sinosteel JV, Chris Salisbury, Chief Executive of Rio Tinto Iron Ore, said that The Channar joint venture is one of Australia's most significant trading partnerships and has helped pave the way for the incredibly strong relationship the Company has forged with China today. According to Chris, this extension represents another milestone in the 30-year partnership that has seen more than 250 million tonnes of iron ore delivered from the Pilbara to China.

The Rio Tinto-Sinosteel JV

Rio Tinto-Sinosteel JV was formed in 1987 to jointly develop Channar iron ore mine located in the Pilbara region of Western Australia. Rio Tinto owns 60% interest in the mine and manages the operation of the mine, and balance 40% interest is owned by Sinosteel. This was the first overseas minerals project investment by a Chinese enterprise at that time and the first large-scale mining initiative between China and Australia. As per the terms of the JV agreement, Sinosteel has the rights to volumes of Pilbara Blend (into which Channar ore feeds) equivalent to Channar production. The original agreement targeted production of 200 million tons. In 2010 this production target was increased by 50 million tons and later in 2016, the target was again increased by an additional 30 million tons. The agreement signed by Rio Tinto and Sinosteel in 2016, allows for the supply of iron ore from the Channar mine till FY21.

The current agreement extends the Rio Tinto-Sinosteel partnership for the third time. According to the terms of the current extension, Rio Tinto will supply an additional 10 million tonnes of iron ore in return for an upfront payment of $15 million ($A19.7 million) as well as production royalties linked to the iron ore price. The current addition in production will increase output from the Channar mine to 290 million tons. The deal is subject to approvals from the Western Australian, Australian, and Chinese governments.

About Channar Iron Ore Mine

Rio Tinto's Australian operations include the Pilbara operations. The Pilbara operations is a world-class, integrated network of 15 iron ore mines, four port facilities, a 1,700-kilometre rail network and related infrastructure. The Channar iron ore mine is an open pit mine and is one of the mines in Pilbara partly owned by Rio Tinto. It is located in the Hamersley Range in Pilbara, WA, Australia and 17 kilometers south-east of Paraburdoo.

About Rio Tinto PLC (NYSE: RIO)

London, UK headquartered Rio Tinto is a leading global mining group that focuses on finding, mining, and processing the Earth's mineral resources. The Company owns and operates open pit and underground mines, mills, refineries, smelters, and power stations, research and service facilities, to produce Aluminium and copper, diamonds, gold and industrial minerals, iron ore, coal, and uranium. The Company operates from locations in over 35 countries across six continents.

About Sinosteel Corp.

Beijing, China-based Sinosteel is a state-owned enterprise and is mainly engaged in developing and processing of metallurgical mineral resources, trading and logistics of metallurgical raw materials and products, and related engineering technical service and equipment manufacture. Sinosteel has set up iron ore, chrome ore, and nickel ore bases in China and abroad, including Australia, Cameroon, South Africa, Zimbabwe, Indonesia, and the Philippines.

Stock Performance Snapshot

November 27, 2017 - At Monday's closing bell, Rio Tinto's stock declined 1.11%, ending the trading session at $48.88.

Volume traded for the day: 1.32 million shares.

Stock performance in the last month - up 3.54%; previous three-month period - up 1.77%; past twelve-month period - up 24.22%; and year-to-date - up 27.09%

After yesterday's close, Rio Tinto's market cap was at $87.91 billion.

Price to Earnings (P/E) ratio was at 14.25.

The stock has a dividend yield of 4.50%.

The stock is part of the Basic Materials sector, categorized under the Industrial Metals & Minerals industry.

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