Latest news with #titanium
Yahoo
5 days ago
- Business
- Yahoo
Exclusive-Rio Tinto weighs sale of titanium business, sources say
By Clara Denina, Ernest Scheyder and Melanie Burton (Reuters) -Rio Tinto (RIO.L) is considering a possible sale of its titanium unit due to weak prices and low returns, three sources said, just as incoming CEO Simon Trott will weigh up a restructuring of the world's second-largest miner when he takes over next month. Titanium, used to make paints, cosmetics and food colouring, is also a vital ingredient in jet engine parts, missile casings, rocket components, submarines and naval vessels because of its strength, corrosion resistance and lightweight properties. China, the world's biggest producer and consumer of titanium dioxide, has expanded its production to capture over half the global market over the past decade, according to data from the U.S. Geological Survey. China wields significant pricing power, which has knock-on effects for Western miners, including on margins. Against this backdrop, Rio Tinto has been evaluating whether the titanium business still has a place in its portfolio. How to exit it could be one of Trott's first decisions, the three sources familiar with matter said. Rio Tinto declined to comment. Rio would not be the first to exit titanium. Bowing to investor pressure, DuPont in 2013 said it would spin off its own titanium dioxide business. In the company's portfolio, titanium falls under the Minerals business, headed by Sinead Kaufman. This division also includes borates, used in cleaning products, as well as the Iron Ore Company of Canada, diamonds, and the Jadar lithium project in Serbia. The Minerals division reported an underlying EBITDA of $1.1 billion in 2024, 24% lower than in 2023, the company's financial report shows. Iron and titanium operations in South Africa and Canada accounted for more than half. Trott, who takes over as the company's CEO on August 25, has headed the iron ore division since 2021. There is an acknowledgement at the company that internal costs, such as staffing, are excessive, sources have told Reuters, so cost-cutting is expected. "There's going to be a middle management clean out," said one of the sources, who was not authorised to speak publicly. Part of Trott's pitch and vision for Rio includes a focus on streamlining the structure of the company's core businesses iron ore, copper, lithium and aluminium, the sources said. Australia and possibly Canada's iron ore operations, and the upcoming Simandou project in Guinea are likely to be grouped together, as well as the recently acquired U.S. lithium company Arcadium and its other lithium projects and investments, they added. Rio is scheduled to release its half-year results on July 30. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Exclusive-Rio Tinto weighs sale of titanium business, sources say
By Clara Denina, Ernest Scheyder and Melanie Burton (Reuters) -Rio Tinto is considering a possible sale of its titanium unit due to weak prices and low returns, three sources said, just as incoming CEO Simon Trott will weigh up a restructuring of the world's second-largest miner when he takes over next month. Titanium, used to make paints, cosmetics and food colouring, is also a vital ingredient in jet engine parts, missile casings, rocket components, submarines and naval vessels because of its strength, corrosion resistance and lightweight properties. China, the world's biggest producer and consumer of titanium dioxide, has expanded its production to capture over half the global market over the past decade, according to data from the U.S. Geological Survey. China wields significant pricing power, which has knock-on effects for Western miners, including on margins. Against this backdrop, Rio Tinto has been evaluating whether the titanium business still has a place in its portfolio. How to exit it could be one of Trott's first decisions, the three sources familiar with matter said. Rio Tinto declined to comment. Rio would not be the first to exit titanium. Bowing to investor pressure, DuPont in 2013 said it would spin off its own titanium dioxide business. In the company's portfolio, titanium falls under the Minerals business, headed by Sinead Kaufman. This division also includes borates, used in cleaning products, as well as the Iron Ore Company of Canada, diamonds, and the Jadar lithium project in Serbia. The Minerals division reported an underlying EBITDA of $1.1 billion in 2024, 24% lower than in 2023, the company's financial report shows. Iron and titanium operations in South Africa and Canada accounted for more than half. Trott, who takes over as the company's CEO on August 25, has headed the iron ore division since 2021. There is an acknowledgement at the company that internal costs, such as staffing, are excessive, sources have told Reuters, so cost-cutting is expected. "There's going to be a middle management clean out," said one of the sources, who was not authorised to speak publicly. Part of Trott's pitch and vision for Rio includes a focus on streamlining the structure of the company's core businesses iron ore, copper, lithium and aluminium, the sources said. Australia and possibly Canada's iron ore operations, and the upcoming Simandou project in Guinea are likely to be grouped together, as well as the recently acquired U.S. lithium company Arcadium and its other lithium projects and investments, they added. Rio is scheduled to release its half-year results on July 30. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
5 days ago
- Business
- Reuters
Exclusive: Rio Tinto weighs sale of titanium business, sources say
July 24 (Reuters) - Rio Tinto (RIO.L), opens new tab is considering a possible sale of its titanium unit due to weak prices and low returns, three sources said, just as incoming CEO Simon Trott will weigh up a restructuring of the world's second-largest miner when he takes over next month. Titanium, used to make paints, cosmetics and food colouring, is also a vital ingredient in jet engine parts, missile casings, rocket components, submarines and naval vessels because of its strength, corrosion resistance and lightweight properties. China, the world's biggest producer and consumer of titanium dioxide, has expanded its production to capture over half the global market over the past decade, according to data from the U.S. Geological Survey. China wields significant pricing power, which has knock-on effects for Western miners, including on margins. Against this backdrop, Rio Tinto (RIO.L), opens new tab, ( opens new tab has been evaluating whether the titanium business still has a place in its portfolio. How to exit it could be one of Trott's first decisions, the three sources familiar with matter said. Rio Tinto declined to comment. Rio would not be the first to exit titanium. Bowing to investor pressure, DuPont (DD.N), opens new tab in 2013 said it would spin off its own titanium dioxide business, opens new tab. In the company's portfolio, titanium falls under the Minerals business, headed by Sinead Kaufman. This division also includes borates, used in cleaning products, as well as the Iron Ore Company of Canada, diamonds, and the Jadar lithium project in Serbia. The Minerals division reported an underlying EBITDA of $1.1 billion in 2024, 24% lower than in 2023, the company's financial report shows. Iron and titanium operations in South Africa and Canada accounted for more than half. Trott, who takes over as the company's CEO on August 25, has headed the iron ore division since 2021. There is an acknowledgement at the company that internal costs, such as staffing, are excessive, sources have told Reuters, so cost-cutting is expected. "There's going to be a middle management clean out," said one of the sources, who was not authorised to speak publicly. Part of Trott's pitch and vision for Rio includes a focus on streamlining the structure of the company's core businesses iron ore, copper, lithium and aluminium, the sources said. Australia and possibly Canada's iron ore operations, and the upcoming Simandou project in Guinea are likely to be grouped together, as well as the recently acquired U.S. lithium company Arcadium and its other lithium projects and investments, they added. Rio is scheduled to release its half-year results on July 30.
The Australian
6 days ago
- Business
- The Australian
Explorers Podcast: Petratherm
Stockhead's 'Garimpeiro' columnist Barry FitzGerald is back in the studio for another instalment of The Explorers Podcast. In this edition, Barry speaks with Petratherm (ASX:PTR) CEO Peter Reid about the company's titanium-rich mineral sands discovery at the Rosewood prospect in South Australia. Rosewood, part of the broader Muckanippie project area, boasts exceptionally high-grade mineralisation and coarse-grained ore, making it potentially one of the most significant mineral discoveries in Australia in recent years. Reid shares the latest drilling results, the project's strong metallurgical potential, and upcoming plans for a maiden JORC resource estimate. With a low-cost, near-surface mining profile and strong infrastructure access, Rosewood is shaping up to be a project of state and national interest. This podcast was developed in collaboration with Petratherm, a Stockhead advertiser at the time of publishing. The interviews and discussions in this podcast are opinions only and not financial or investment advice. Listeners should obtain independent advice based on their own circumstances before making any financial decisions.
GSM Arena
22-07-2025
- GSM Arena
Samsung Galaxy Z Fold8 might have a downgraded hardware component
Samsung's just launched the Galaxy Z Fold7, which is its thinnest and lightest book-style foldable yet. Today in Samsung's home of Korea there are already rumors about its successor, the Galaxy Z Fold8, which, if nothing changes in Samsung's usual schedule, should be launching next July. The company is now said to be considering both titanium and carbon fiber reinforced plastics (CFRP) for the backplate material for the Fold8. That's notable because the Fold7's predecessors from the Galaxy Z Fold3 onwards have used CFRP, but the Fold7 itself has switched to titanium, first seen in the Galaxy Z Fold Special Edition from last year. Samsung Galaxy Z Fold7 Titanium was used in the Fold7 to reduce thickness, and along with the removal of the digitizer for the S Pen, this has cut it down by 0.6mm. However, metals can possibly interfere with the S Pen, at least the electromagnetic resonance based tech that Samsung has been using. The company is currently said to be developing a technology to make the digitizer slimmer, and thus reintroduce S Pen support - perhaps as soon as next year. Demand for this is apparently quite strong. Samsung may even adopt a digitizer-less technology, such as the active electrostatic solution employed by the Apple Pencil, in which case it can safely continue to use metal backplates with no fear of interference. Another reason why it's testing an alternative to titanium has to do with supply-related concerns especially regarding the US tariff war. Samsung basically wants to make sure sudden changes in supply chains don't catch it off guard. Of course we are still very far away from the Fold8's launch, so a lot of things can change. We'll keep you posted. In the meantime, don't miss our Galaxy Z Fold7 review, it's freshly published. Samsung Galaxy Z Fold7 Source (in Korean)
