Latest news with #Copper
Business Wire
6 hours ago
- Business
- Business Wire
Rio Tinto: Very resilient financial results as we grow and diversify our portfolio
LONDON--(BUSINESS WIRE)--Rio Tinto (LSE:RIO) (ASX:RIO): 6% CuEq production uplift YoY, delivering on strategy through focus on our four objectives Rio Tinto Chief Executive Jakob Stausholm said: "We are delivering very resilient financial results with an improving operational performance helped by our increasingly diversified portfolio. Underlying EBITDA of $11.5 billion and operating cash flow of $6.9 billion, despite a 13% lower iron ore price, demonstrate the growing contribution from our Aluminium and Copper businesses and our Pilbara operations' strong recovery from the four cyclones in the first quarter. We are reporting underlying earnings of $4.8 billion (after taxes and government royalties of $4.8 billion). "Our strong cash flow enables us to maintain our practice of a 50% interim payout with a $2.4 billion ordinary dividend, as we continue our disciplined investment in profitable growth while retaining a strong balance sheet. "We are well positioned to generate value from our best-in-class project execution, together with growing demand for our products, now and over the coming decades. We remain on track to deliver strong mid-term production growth, with solid foundations in place and a diverse pipeline of options for the future." 1. Executive Summary We're pleased to have announced Simon Trott as Chief Executive with effect from 25 August 2025. Very resilient financials with stable net cash generated from operating activities of $6.9 billion and underlying EBITDA of $11.5 billion, despite a 13% lower iron ore price 1 and the impact of the cyclones in Q1, underpinned by our improving operational performance, diversifying portfolio and a rising contribution from our Aluminium and Copper businesses. Profit after tax attributable to owners of Rio Tinto of $4.5 billion (referred to as "net earnings" throughout this release). Interim ordinary dividend of $2.4 billion, a 50% payout, in line with our practice. Successful delivery of projects: Simandou first shipment accelerated to around November 2025, Western Range iron ore opened on time and on budget and construction commenced at Hope Downs 2 and Brockman Syncline 1 following receipt of all necessary approvals. Arcadium Lithium acquisition closed ahead of schedule in March and we enriched our lithium pipeline through two new agreements in Chile with Codelco and ENAMI 2. Six months ended 30 June 2025 2024 Change Net cash generated from operating activities (US$ millions) 6,924 7,056 (2)% Purchases of property, plant and equipment and intangible assets (US$ millions) 4,734 4,018 18% Free cash flow 3 (US$ millions) 1,962 2,843 (31)% Consolidated sales revenue (US$ millions) 26,873 26,802 --% Underlying EBITDA 3 (US$ millions) 11,547 12,093 (5)% Underlying earnings 3 4,807 5,750 (16)% Profit after tax attributable to owners of Rio Tinto (net earnings) (US$ millions) 4,528 5,808 (22)% Underlying earnings per share (EPS) 3 (US cents) 296.0 354.3 (16)% Ordinary dividend per share (US cents) 148.0 177.0 (16)% Underlying return on capital employed (ROCE) 3 14% 19% At 30 June 2025 Net debt 3 (US$ millions) 14,597 5,491 166% 1 On a Free on Board (FOB) basis. 2 Subject to regulatory approvals and other closing conditions. 3 This financial performance indicator is a non-IFRS (as defined below) measure which is reconciled to directly comparable IFRS financial measures (non-IFRS measures). It is used internally by management to assess the performance of the business and is therefore considered relevant to readers of this document. It is presented here to give more clarity around the underlying business performance of the Group's operations. For more information on our use of non-IFRS financial measures in this report, see the section entitled 'Alternative performance measures' (APMs) and the detailed reconciliations on pages 65 to 71. Our financial results are prepared in accordance with IFRS — see page 37 for further information. Expand 2. Progress against our four objectives Best Operator Safety: remains our top priority. We are committed to having a safe work environment, preventing catastrophic events and injuries. 0.39 All Injury Frequency Rate (AIFR). Improving operational performance: The Safe Production System (SPS) rolled out at 36 sites. Bauxite: Record H1 production as Amrun and Gove continue to outperform. Copper: 54% YoY increase in production at Oyu Tolgoi in H1 with SPS building in long-term capability through the underground ramp-up. Iron Ore Pilbara: Strongest Q2 production since 2018; 5Mtpa system capacity uplift from SPS in place, however utilisation restricted for the period affected by the cyclones. Impeccable ESG Decarbonisation: on track to reduce Scope 1 and 2 emissions by 50% by 2030 relative to our 2018 equity emissions baseline 1. Committed to helping our customers and suppliers achieve net zero by 2050. CO2 emissions: 15.6 Mt CO2e scope 1 & 2 emissions in H1 2025 equivalent to 14% vs 2018 baseline. Spend: $72 million capital expenditure and $181 million operational expenditure. Pacific Aluminium: we delivered the third tranche of our Gladstone operations energy solution, signing two new agreements to purchase 90% of the solar (600MWac) and battery storage (600MW/ 2,400MWh) capacity to be installed by Edify Energy. Pilbara iron ore: NeoSmelt technology to produce low-emission iron, joined by Woodside Energy and Mitsui Iron Ore Development together with A$19.8 million from Australian Renewable Energy Agency. Modern Slavery Statement: published in May, refers an independent Human Rights Impact Assessment in Guinea and details steps taken to address the recommendations. The report highlights our commitment to preventing modern slavery within our operations and supply chains. Excel in development We continue to make significant progress: Simandou: first shipment accelerated to around November 2025. Pilbara: Western Range: officially opened in June, on time and on budget. Pilbara: Brockman Syncline 1 & Hope Downs 2: following Traditional Owner support, received all necessary State and Federal Government approvals by June. Commencement of main construction works now enabled. Lithium: completed acquisition of Arcadium for $6.7 billion 2 in March; integration of Rio Tinto Lithium is on track; enriched our lithium pipeline through two new agreements in Chile with Codelco and ENAMI 3. Social licence We continue to strive to deepen trust and relationships, particularly with Indigenous peoples as we invest in cultural knowledge. Puutu Kunti Kurrama and Pinikura (PKKP): co-management agreement signed in May with PKKP, providing the overarching framework for Rio Tinto's iron ore operations on PKKP Country and formalises how they engage on proposals affecting heritage and social surroundings throughout the mine lifecycle. It will ensure knowledge-sharing and joint design are at the centre of Rio Tinto's operations on PKKP Country. Pilbara Western Range: First project with co-designed Social, Cultural and Heritage Management Plan with the Yinhawangka Traditional Owners. We have adjusted our 2018 baseline and 2023 emissions to exclude emissions reductions achieved by divesting assets and allow increases associated with acquisitions. In 2023, we restated prior year emissions numbers and our 2018 baseline following an update to our GHG reporting methodology. Further detail on these changes in reporting is available in our Scope 1, 2 and 3 Emissions Calculation Methodology. This includes $6.3 billion paid to Arcadium's shareholders, $0.4 billion paid to their convertible loan note holders. Subject to regulatory approvals and other closing conditions. The 2025 half year results release is available here This announcement is authorised for release to the market by Rio Tinto's Group Company Secretary. LEI: 213800YOEO5OQ72G2R82
Time of India
a day ago
- Entertainment
- Time of India
Fan crosses line during Kahleah Copper wig incident and faces sudden ejection from arena
(Image Source - Getty Images) In a recent WNBA game featuring the Phoenix Mercury and the Washington Mystics, something unexpected happened that paused the game for a bit and led to a fan getting kicked out of the arena. The whole situation revolved around Phoenix Mercury's star, Kahleah Copper, whose wig came off during the game, triggering a series of events that culminated in a fan being removed for acting inappropriately. Kahleah Copper leaves court after wig falls during the game An unexpected moment happened late in the third quarter of the game on Sunday. Kahleah Copper, a four-time WNBA All-Star and Olympic gold medalist, was moving around a screen set by her teammate when her wig got caught. It was accidentally yanked off by Washington Mystics guard Jade Melbourne, landing on the court for everyone to see. According to some reports "The player who lost her wig was Kahleah Copper, and it was accidentally pulled off by Jade Melbourne during the game". Without delay, Mercury signaled for a timeout. Copper, looking quite embarrassed, quickly grabbed her wig and rushed off the court to the locker room to sort it out. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo Reports say that "Copper rushed back to the dressing room after the wig malfunction". The game had a short pause, and the broadcasting team Meghan McPeak and Christy Winters Scott opted to deal with the matter gently, referring to it as a "malfunction" without specifically mentioning the wig, likely out of respect for Copper's privacy. Copper came back after the timeout to finish the game, which the Mercury won 88-72, thanks to a standout performance from Alyssa Thomas. However, Copper struggled, scoring only 6 points on 2-for-8 shooting, a dip from her usual form. She also contributed three assists and three rebounds. Meanwhile, Thomas dominated with 27 points, 11 rebounds, and eight assists, becoming the first WNBA player to record 150 rebounds and 175 assists in 20 games. Fan was ejected from Phoenix Mercury game after mocking Kahleah Copper The Mercury players noticed the fan's antics and took matters into their own hands, surrounding the officials to identify the individual. According to the user query, "After the wig fell off, the game was delayed, and then a fan was ejected for making fun of Copper". Mercury players saw how the fan was acting and decided to step in, gathering around the officials to highlight the person. As mentioned in the user query, "Copper's teammates were seen surrounding the officials, causing them to alert the arena's security, who then removed the fan in question. " Also Read: Stephen Curry says NBA players like him are 'underpaid' despite $62 million salary The fan's ridicule obviously went too far, causing the Mercury players to take action. Security at the arena quickly intervened, escorting the fan out. This implies that the behavior was serious enough to need immediate removal, but the lack of exact details leaves us wondering about what transpired. FAQs Why was the game between Phoenix Mercury and Washington Mystics stopped? The game was paused after Kahleah Copper's wig fell and she ran off court. Who was the fan that got ejected from the game? The fan's identity has not been publicly disclosed. Who alerted security about the fan's behavior? Kahleah Copper's teammates surrounded officials and pointed the fan out. Catch Rani Rampal's inspiring story on Game On, Episode 4. Watch Here!
Bloomberg
2 days ago
- Business
- Bloomberg
Copper Rises to Start Pivotal Week Ahead of US Tariff Deadline
Copper rose to kick off a critical week that includes a Federal Reserve meeting, a swathe of key economic data and the prospect of final details on imminent US tariffs on the industrial metal. The metal rose with other risk assets after the European Union and the US reached a deal that avoids a more catastrophic rupture between two major economies. The agreement comes ahead of a US-China meeting in Stockholm that's expected to extend a trade truce for 90 more days.
CBS News
2 days ago
- Sport
- CBS News
Colorado's Woodward Barn terrain park lets skiers, riders train all summer long
A Colorado terrain park is keeping skiers and riders who "send it" flying through the summer. Part trampoline park, part skate park, part ski jump, the Woodward Barn at Copper offers opportunities for skaters, skiers and riders of all ages to hone their craft without relying on snow. Impressive youngsters like Rhys Miller can be found there casually spinning and flipping their way around the barn, either on trampolines or actual ramps, riding what's called a "rollerboard," preparing for winter. "I've been working on under flips, sevens, backside, front side, and some switch flips," Rhys explained. "If it's one of the bigger tricks, I do get a little bit nervous, but on smaller tricks, I think I got it." Aside from building a list of tricks you might see in the XGames, Woodward Barn helps those young and old build up confidence, without the costly injuries that can come on the slopes if you hit a jump wrong, land on your head, or end up straddling a rail you were hoping to grind. Rhys, who took second place in the grommet boys halfpipe competition at the United States of America Freeski and Snowboard Association 2024 National Championships, knows from experience. He's getting back into his sport after breaking his leg recently. Now he's back in the barn, doing what he loves without fear. "You just do it," Rhys said to CBS Colorado, after being asked how he musters the courage to throw a big trick. He's now looking forward to his winter season, where he'll have even more tricks to take to the park. The Woodward Barn opened its doors in February 2009 with a 19,400-square-foot facility initially designed with Snowflex, a synthetic surface that mimicked the feel of snow. You might have seen other facilities with similar set-ups! Then in 2014, the Snowflex was replaced with Skatelite, a durable and smooth material commonly used in skateparks. This transition was accompanied by the introduction of specialized wheeled skis and snowboards with wheels embedded into the board itself, instead of sitting on top like a skateboard. This allows for a different, yet highly effective, training experience.
Cision Canada
22-07-2025
- Business
- Cision Canada
CRESCAT INCREASES INVESTMENT AND CANTEX UPSIZES PRIVATE PLACEMENT TO $5 MILLION
KELOWNA, BC, July 22, 2025 /CNW/ - Cantex Mine Development Corp. (TSXV: CD) (the "Company"). Further to its news release of July 11, 2025, the Company is pleased to announce that, due to added interest, it has elected to increase the amount of its previously announced private placement to $5,000,000. All other terms remain the same. Cantex is pleased to announce that Crescat Capital has increased its participation in the placement to $800,000. The Company will be using the proceeds of the placement on its soon to commence summer drill program at North Rackla where the Company will be focused on expanding the mineralization at its zinc-lead-silver-germanium Massive Sulphide project and also testing new targets at the Copper project where previous drilling has intersected up to 7.32% copper (see news release of April 13, 2023). The Offering The Offering will be comprised of a combination of charity flow through units ("CFT units") and hard units ("Units") for total gross proceeds of $5,000,000. The CFT units will be priced at $0.21 per unit, with each CFT unit comprised of one flow through share and one non-flow through warrant. Units will be priced at $0.14 per unit, with each Unit comprised of one common share and one non-flow through warrant. Each whole warrant issued in connection with either a CFT unit or a Unit entitles the holder to acquire a non-flow through share at a price of $0.21 for a term of three years. The Offering is proposed to consist of 21,261,903 CFT units and 3,821,429 Units and remains subject to the acceptance of the TSX Venture Exchange. About Cantex Cantex is focused on its 100% owned 20,000 hectare North Rackla Project located 150 kilometers northeast of the town of Mayo in the Yukon Territory, Canada where high-grade massive sulphide mineralization has been discovered. Over 86,000 meters of drilling has defined high grade silver-lead-zinc-germanium mineralization over 2.65 kilometers of strike length and at least 700 meters depth. The mineralization remains open along strike and to depth. The Company is led by Dr. Charles Fipke, C.M., the founder of Ekati, Canada's first diamond mine. The technical information and results reported here have been approved by Mr. Chad Ulansky a Qualified Person under National Instrument 43-101, who is responsible for the technical content of this release. Mr Ulansky is the Company's President and CEO. Signed, Chad Ulansky Chad Ulansky President and CEO Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE Cantex Mine Development Corp.
