Rio chief Tom Albanese has been eased out after a series of failures. But in appointing Sam Walsh to stand in, has Rio Tinto learnt from its mistakes? Rio Tinto tried to pull itself out of the frying pan by seeing off its CEO Tom Albanese yesterday. But has the mining giant tossed its shareholders
Chinese demand for iron ore and the price of Australia’s biggest export — by some stretch — has been instrumental to our economy’s success these past four years as most of the rest of the western world has struggled. Last year Australia exported A$64.1 billion worth of the commodity, up 13% from the year before
Fortescue is on the prowl for investors once more. It has somewhere between $11 billion and $12 billion in debt and most analysts reckon it needs to knock this down by $5 billion at a minimum. Chairman Andrew Forrest has said he wants to ramp up the companies production from its present reduced target of