RIO Financial News

An 18-year-old diary entry from a former Wright Prospecting executive has cast doubt over a billionaire family’s claim to the ownership and lucrative royalties flowing from one of Gina Rinehart’s Pilbara mines.

Prices for key battery metals required for the clean energy transition – such as lithium and nickel – have collapsed since the start of the year amid a supply glut and Chinese consumers reducing demand for electric vehicles.

Rio Tinto is open to working with Korea’s POSCO on green iron production in Western Australia, where it is trying to boost output from its newest and most technologically advanced mine.

Whitehaven Coal was named the leading bidder for BHP’s Daunia and Blackwater coking coal mines in Queensland, inflaming the war between Whitehaven and its London shareholder, Bell Rock, which has lobbied the coal miner to pull out of the auction.

NEW DELHI : Prime Minister Narendra Modi on Sunday confirmed that India will formally bid for hosting the 2036 Olympic Games. How much does it cost to host the 16-day event and is it worth the effort? Mint evaluates the economic implications of a successful bid. The members of the International Olympic Committee choose the host through a secret ballot where the majority vote gets to be the host.

ALSO READ: Govt’s mental health helpline helped over 350,000 people He said strengthening medical, nursing, and pharmacy education in the country is an endeavour of the BJP-led Centre for the holistic development and expansion of the country's health sector. "The aim is to ensure that each citizen of India can get access to affordable and accessible healthcare across the country," the minister said.

Mansukh Mandaviya on Saturday inaugurated Nagaland's first medical college — the Nagaland Institute of Medical Sciences & Research (NIMSR). Mandaviya unveiled the monolith marking the inauguration, in the presence of Chief Minister Neiphiu Rio, Deputy CM TR Zeliang, state ministers, MLAs and bureaucrats. The college has 100 seats — 85 for students of Nagaland and 15 for other states. Addressing the function, Mandaviya said that the first medical college of the state will not only impart medical education but it will also be a research centre. The central government under the leadership of Prime Minister Narendra Modi wants to set up healthcare facilities in every part of the country, he said. Medical and nursing education needs to be strengthened considering the need of the hour, he added. There were about 64,000 MBBS seats in the country in 2014, and it has increased manifold, Mandaviya said. «Similarly PG seats have also doubled in the last nine years,» he said. He asked the Nagaland government to start Jan Aushadi Kendras in every health facility of the state, and assured full support of the Centre. CM Rio said it was a historic day for the people of Nagaland as their dream of a medical college was fulfilled. The state has a severe shortage of doctors, and there are shortcomings in the delivery of secondary and tertiary levels of healthcare, he said. He said that he hoped the new facility would grow into a centre of excellence. Rio urged the people to ensure special care and love for the students coming from other states to study at NIMSR, so that they become the ambassadors of the state.

Albemarle boss Kent Masters likes to joke that he runs a company full of chemical engineers and is still learning the ropes when it comes to mining.

Global lithium giant Albemarle has requested more time to complete due diligence amid fading hopes its $6.6 billion takeover of Liontown Resources will succeed.

The Liontown Resources share price has slumped in a sign investors see little hope for Albemarle’s $6.6 billion takeover tilt at the lithium play after Gina Rinehart boosted her stake to 19.9 per cent.

European shares rallied after dovish comments by Federal Reserve officials and the prospect of more economic stimulus by China brought some risk appetite back to markets as investors continue to evaluate the potential impact of the Israel-Hamas conflict. 

It’s all systems go at IPO hopeful Tasmea.

Rio Tinto has warned it will need to ship more low-grade iron ore over the next few years as it grapples with bringing its next generation of Pilbara mines in Western Australia into production.

A massive health care strike over wages and staff shortages is heading into its final day without a deal between industry giant Kaiser Permanente and the unions representing the 75,000 workers who picketed this week

Rio Tinto has loaned $US100 million ($156.9 million) to the Chinese and Singaporean companies that will build railways and ports for Guinea’s Simandou iron ore project, in a major show of faith in its consortium partners, rival miners and the grand plan to build an African iron ore industry.

An engineering company that provides services to BHP, Rio Tinto and Santos is considering joining the ASX in a float that could value it at more than $400 million.

Battery-powered mine trucks would haul less ore and spend less time on the road than diesel-fuelled alternatives, delivering a productivity hit of between 19 per cent and 33 per cent to Australia’s biggest export industry.

Hyundai and Kia are issuing recalls for more than 600,000 vehicles in Canada. While, Hyundai's recall affects 326,942 vehicles in Canada.

London | BHP boss Mike Henry says the private sector must turn recycling into a meaningful source of metals for the world, in a possible signal that BHP could join other big miners in the scrap recycling business.

By David Shepardson

Tecpetrol, a major Argentinian oil producer, has announced plans to mine crypto using associated gas.