Gold is going through the roof, with a 12% rise so far this quarter, hedge funds are doing it tough, aluminium up, along with Rio’s long-term debt and other business news.
Rio Tinto
Business As Usual: China car sales slow … there’s gold in them thar … don’t weep for hedge funds, cheer Rio …
Tax havens and cosy deals: the Xstrata story
Mining multinational Xstrata has a real aversion to tax. While Rio and BHP might be every bit the lying multi-national bullies that Xstrata is, at least they’re actually genuine mining companies.
BHP, Rio still worth more than world’s biggest company
Even after all these claims that the proposed RSPT has smashed resource company share prices, the combined market capitalisation of BHP and Rio today is about $400 billion.
Mayne: Rio Tinto AGM had it all
The Rio Tinto AGM in Melbourne this morning had it all, from the company being accused to killing 20,000 people in Bougainville to the remuneration report suffering a record protest.
Why China is really pumping billions into Australia’s mining industry
China is investing in Australia’s start-up mining companies in an effort to undermine BHP and Rio Tinto. Many Australians have become overnight billionaires, but where will this ride on the great dragon lead us?
Political snippets: The real fear of mining companies emerges
It is not just the extra dollars that will be paid in Australia that concerns the mining giants of the world. Plus, what exactly did Joe Hockey promise Coalition economy policy would be? and other political news.
Another Labor rent tax gaffe
First it was Wayne Swan who mistakenly equated the risk-free rate with a company’s cost of capital when defending the rent tax. Now Lindsay Tanner has made the same worrying mistake, writes Stephen Bartholomeusz.
How Rio Tinto played The Australian for fools
The Australian’s above the fold, front page story screams the headline “Rio shelves billions in projects”. Too bad it’s complete and utter BS, says Possum Comitatus.
Commodity export prices the interest rate driving force
The acceleration in commodity prices for Australian exports is driving something unheard of, the second surge in our terms of trade and national income from the China boom in three years.
Mayne: Mining slug mainly hits multinationals, so who cares?
The new mining tax is a good initiative by the Rudd government. Tony Abbott should get behind a move that slugs huge foreign companies but benefits little Aussie battlers.
Doing business in Cambodia,
BHP-style
Mining giant BHP Billiton could be guilty of paying $US2.5 million in bribes to the Cambodian government. Is this a repeat of the Rio Tinto saga, or are we seeing a pattern emerge? asks Georgia Wilkins.
BHP reveals possible corruption, but we need more disclosure
The world’s biggest mining company has joined its smaller rival, Rio Tinto, in being implicated in possible corrupt activities. BHP needs to disclose further information about the investigations immediately.
revealed 
The enormous bribes of the Rio Tinto Four
The trial of the Rio Tinto Four is providing damning evidence of extensive bribery, involving huge sums of cash, watches and Stern Hu skimming a 30% personal commission, reports John Garnaut.
Crikey wrap: It’s who you know, not Hu, you know?
Following on from the Stern Hu case, Crikey intern Tom Cowie wraps what the media is saying about verdict implications, including Chinese-Australian relations and foreign investors in China.
Has everyone forgotten China and Rio Tinto yet?
Apart from the Rio Tinto Four, everyone else involved in the Chinese Rio Tinto bribery saga are desperate to move on. The case is shining too bright a light on the nature of Chinese business and government as far as China’s concerned.
The Stern Hu effect: the answer to the joke is blowing in the wind
The Chinese were, of course, joking about the financial impact of the actions of former Rio Tinto executive Stern Hu and his three fellow workers, since last year iron ore imports in China were up 41%.
Rio Tinto, Stern Hu and the split in China’s leadership
Former Rio Tinto executive Stern Hu and his co-accused obviously did things in China that were wrong. But they also became embroiled in the current power struggle for control of China, writes Robert Gottliebsen.
Political snippets: Work at Rio Tinto at your peril
At Rio Tinto they just could not wait to give their four employees the sack, while Stephen Smith is doing his best not to upset the Chinese government. Plus, the most ridiculous parliamentary question asked.
Gottliebsen: Hu is just the rope in China’s leadership tug-of-war
The trial of Stern Hu and the Rio Tinto Four is part of a much bigger battle in China, explains Robert Gottliebsen: a 35-year-old power struggle between supporters of Hu Jintao and Jiang Zemin.
Flitton: Australia is China’s lapdog
Australia may be China’s quarry, but, as the Rio Tinto trial proves, the power relationship doesn’t cut both ways, says Daniel Flitton.
Corruption is just business as usual in China
In the wake of the Rio Tinto Four trial, the BBC looks at how accurate accusations of dodgy dealings by foreign companies in China are: pretty credible, actually, but they’re just playing by the local rules.
Why Rio is to blame for Hu’s jailing
The verdict is in: Australian Rio Tinto executive Stern Hu has been sentenced to 10-years’ prison in China for bribery. Yes, the Chinese justice system is unfair and corrupt, says Hugo Restall, the blame lays squarely with Rio.
Political snippets: Rising interest rates should force Rudd to an early election
The Reserve Bank has joined with the commercial banks in giving the Prime Minister the best possible reason to get his re-election bid over with as soon as possible. Plus, Stern Hu and the state elections are over in today’s political snippets.
Tips and rumours: Tips and rumours: The jewel in Fairfax’s crown is due for a polish
Rumours of a major restructure at the SMH, the Advertiser predicts its own death, the True Type revealed at Rio Tinto and more hot tips.
