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Vedanta Resources
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04 января, 10:27

Zambia Vedanta mine workers strike over delayed pay talks: union

LUSAKA (Reuters) - Zambian workers have downed tools at a mine and copper processing plant belonging to Konkola Copper Mines (KCM), a unit of Vedanta Resources, in a dispute over the pace of wage talks, a union official said on Wednesday.

18 октября 2016, 12:08

India 2016 - Closing Plenary: India’s Take-Off

http://www.weforum.org/ India stands at a tipping point, with the world expecting it to translate its potential into action and impact. How can India take off from here? · Anil Agarwal, Executive Chairman, Vedanta Resources, United Kingdom · Johan C. Aurik, Global Managing Partner and Chairman of the Board, A.T. Kearney, USA · Gita Gopinath, Professor of Economics, Harvard University, USA · Amitabh Kant, Chief Executive Officer, NITI Aayog, India · Vijay Shekhar Sharma, Founder and Chief Executive Officer, Paytm, India Moderated by · Prannoy Roy, Founder and Executive Co-Chairperson, New Delhi Television (NDTV), India

18 октября 2016, 11:59

India 2016 - Opening Plenary: India's Inflection Point

http://www.weforum.org/ With a strong demographic dividend, a growing entrepreneurial ecosystem and a large domestic market, the time is right for India’s economy to soar. How can India transform the state of its economy and people through digital transformation? · Anil Agarwal, Executive Chairman, Vedanta Resources, United Kingdom · Johan C. Aurik, Global Managing Partner and Chairman of the Board, A.T. Kearney, USA · Gita Gopinath, Professor of Economics, Harvard University, USA · Amitabh Kant, Chief Executive Officer, NITI Aayog, India · John Rice, Vice-Chairman, GE, Hong Kong SAR · Vijay Shekhar Sharma, Founder and Chief Executive Officer, Paytm, India Remarks by · Nirmala Sitharaman, Minister of State for Commerce and Industry of India · Ranil Wickremesinghe, Prime Minister of Sri Lanka Moderated by · Vikram Chandra, Presenter and Editor, New Delhi Television (NDTV), India

31 августа 2016, 10:11

Рост доллара и рост запасов (от API) подталкивал цены нефти вниз

Цены энергоносителей во вторник дружно снижались. Снижение цен нефти происходило на фоне данных Американского института нефти (API), согласно которым на прошлой неделе запасы нефти в хранилищах США выросли на 942 тыс. баррелей. Рост запасов напоминает о сохраняющемся избытке нефти.  В еще большей мере снижение цен нефти было связано с наблюдающимся в последние три  дня укреплением доллара. Тон этому движению был задан еще в конце прошлой недели выступлением главы ФРС на конференции в Джексон Хоул. А ее заместитель Стенли Фишер заявил, что сохраняется не только возможность повышения ставок на заседании в сентябре, но также не исключена вероятность двух подобных шагов регулятора до конца текущего года.  Соображения, давящие цены нефти вверх временно отодвинуты на задний план. Хотя подобных соображений было достаточно. Главным козырем быков во вторник было заявление на пресс- конференции в Багдаде премьер-министра Ирака Хейдар аль-Абади о том, что страна полностью поддержит инициативу по «заморозке» уровня добычи нефти, которая будет обсуждаться на предстоящей встрече в Алжире. Подобных высказываний в сентябре, по мере приближения встречи ОПЕК, будет еще много, и они прогнозируемо подергают цены. А в случае возможного принятия решения о заморозке добычи от ОПЕК даже на возобновление среднесрочного растущего тренда. Хотя пока вероятность достижения соглашения по заморозке уже на этой встрече ОПЕК представляется не очень высокой. А вот идущий в последние два года по всему миру процесс снижения капитальных затрат на добычу и разведку нефти обещает в долгосроке действовать гораздо более определенно. Вице-президент Wood Mackenzie Эндрю Латхем сообщил, что в 2016 году глобальные расходы на разведку были сокращены до $40 млрд. с примерно $100 млрд. в 2014 году. Для традиционной нефти за 8 месяцев 2016 года было пробурено 209 скважин по сравнению с 680 в 2015 г. и 1,167 в 2014 г. В 1960 г. средний уровень составлял около 1500 бурений. А установившиеся низкие цены нефти позволяют прогнозировать сохранение низких затрат на разведку и в последующие годы. Снижаются и суммарные капитальные затраты нефтяных компаний. Так, капитальные затраты Лукойла в I полугодии 2016 г. снизились на 20,8% по сравнению с показателем за аналогичный период прошедшего года — до 241,447 млрд. руб. Топ-менеджер компании оценивает капзатраты компании в 2016 году лишь в 550 млрд. рублей. В 2015 г. капитальные затраты компании сократились в долларах на 37% по сравнению с 2014 г.Выразительные сокращения капитальных затрат в 2016 году произойдут по целому ряду ведущих нефтяных компаний. В результате на рынке будут складываться предпосылки для будущего ценового шока и будущего роста цен выше 100 долларов за баррель. Подобное суждение в интервью CNBC во вторник высказал исполнительный директор одной из крупнейших мировых диверсифицированных сырьевых компаний Vedanta Resources Том Альбанезе. По его мнению, (с которым можно полностью согласиться): «чем дольше цены остаются низкими в ближайшее время, тем больше становится риск ценового шока в будущем".А пока рынок будет следить за динамикой текущих балансов, и ожидать колебаний настроений участников сентябрьской встречи ОПЕК. Сегодня вновь особенно интересными будут выходящие сегодня данные EIA о запасах и добыче нефти в США. 

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14 июля 2016, 15:02

Tom Albanese, CEO of Vedanta Resources discusses the meaning of Inclusive Capitalism

Tom Albanese Chief Executive Officer, Vedanta Resources Corporate managers have a fiduciary obligation to deliver on the expectations of their shareholders in a legally compliant manner. By contrast, there is no regulatory requirement for businesses to create social value for the various stakeholders in society. As a result, there is an unfortunate perception that the corporate sector ignores social obligations and impact. This is not in fact the case. Though there are, indeed, exceptional cases in which companies choose to ignore their social responsibilities, for the most part, those who have been in business for a long time know that their relationships with their employees, their communities and their customers require at least some degree of engagement. Expectations on this front are rising. Today, sustainable business practices demand that attention be paid to social impact. It is therefore imperative for corporations to build 'inclusive capitalism' into their operating models. I believe that - in the extractive sector in particular - the social license to operate is the strategic bridge that enables management to strike a balance between maximizing the investors' returns and fulfilling societal responsibilities. Mines cannot relocate in the way that factories can, and they generally have a lifespan of many decades. This means that operators have to work within a framework that integrates ethics, governance, sustainability and corporate social responsibility while also generating returns for their shareholders. Tax transparency is a critical element. By taking care of people, the planet and profit a corporation can create a positive socio-economic legacy: it can improve the state of the world. 'Inclusive capitalism' can help foster sustainable growth and prosperity for society at large so long as there is constructive communication and mutual respect between governments, regulators and corporations, and greater accountability to society from all partners. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

06 июня 2016, 09:02

The Force of Finance for Responsible Business: How the financial sector could and should contribute to responsible business conduct

Roel Nieuwenkamp, Chair of the OECD Working Party on Responsible Business Conduct (@nieuwenkamp_csr). This article also includes a contribution by Bob Jennekens, LL.M./M.A. student, Maastricht University Faculty of Law/Arts and Social Sciences. These days a critical mass of investors promote investment approaches which take into consideration environmental, social, governance (ESG) factors, otherwise known as responsible […]

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29 января 2016, 18:47

Vedanta Resources зафиксировала 51%-ное снижение квартальной прибыли

Горнодобывающая компания Vedanta Resources зафиксировала 51%-ное снижение квартальной прибыли. Так, показатель EBITDA в третьем фискальном квартале составил $494 млн. При этом выручка за рассматриваемый период сократились на 27% до $2,4 млрд.

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29 января 2016, 12:14

Vedanta Resources зафиксировала 51%-ное снижение квартальной прибыли

Горнодобывающая компания Vedanta Resources зафиксировала 51%-ное снижение квартальной прибыли. Так, показатель EBITDA в третьем фискальном квартале составил $494 млн. При этом выручка за рассматриваемый период сократились на 27% до $2,4 млрд.

22 января 2016, 11:33

Цена нефти Brent преодолела отметку в 31 доллар за баррель. Цена нефти Brent на Лондонской бирже выросла на 9%. Растущая нефть обрушила доллар и евро на Мосбирже

Стоимость фьючерсного контракта с поставкой в марте на нефть сорта Brent на торгах Лондонской биржи ICE в пятницу превысила отметку в 31 доллар за баррель, достигнув уровня 31,06 доллара. Ранее сообщалось, что марки Brent и WTI вернулись к отметке в 31 доллар за баррель. В частности, по состоянию на 09.20 мск стоимость мартовских фьючерсов на североморскую нефтяную смесь марки Brent росла на 4,41% – до 30,91 доллара за баррель. Цена мартовских фьючерсов на нефть марки WTI увеличивалась на 4,49% – до 30,85 доллара за баррель. При этом раннее в ходе торгов оба эталона повысились до отметки в 31 доллар за баррель, передает РИА «Новости».  В четверг нефть марки Brent выросла почти до 29 долларов за баррель, а цена на нефть WTI преодолела барьер в 30 долларов. Вслед за ними укрепился и рубль. Евро упал ниже 90 рублей, доллар опустился ниже 83 рублей.

22 января 2016, 10:18

Власть, решимость и готовность: заявление ЕЦБ подтолкнуло нефть к росту

Как свидетельствуют данные торгов, в пятницу цены на нефть продолжают активно расти на фоне заявлений главы Европейского центрального банка (ЕЦБ) Марио Драги о дальнейших мерах кредитно-денежной политики в еврозоне.

13 октября 2014, 18:37

Zambia plans to triple royalties for copper miners

Zambia plans to more than triple royalties on open-pit mines, underscoring a growing trend across Africa where governments are changing tax regimes and adjusting ownership structures to get a bigger share of natural resources.The finance ministry says in a budget report that starting in Jan. 2015 royalties will increase to 20% from 6% for open-pit copper mines and to 8% from 6% for underground mines.Mining companies with open-pit mines in Zambia include Barrick Gold (NYSE:ABX) and First Quantum Minerals (OTCPK:FQVLF), while Glencore (OTCPK:GLCNF, OTCPK:GLNCY) and Vedanta Resources (OTCPK:VDNRF)  operate underground mines.Zambia has withheld $600M of tax refunds from miners since last year, already straining the relationship between the government and mining companies. Post your comment!

26 сентября 2014, 15:39

Frontrunning: September 26

Mystery Man Who Moves Japanese Markets Made More Than 1 Million Trades  (BBG) Draghi’s Trillion-Euro Pump Finds Blockage in Spain: Euro Credit (BBG) Apple plays defense on iPhone 6 bending, software concerns (Reuters) U.S. to Shield Military From High-Interest Debt (WSJ) U.S. Outgunned by Extremists on Social Media Battlefield (BBG) Yen Weakens on Pension Fund Reform; Aussie Drops to 7-Month Low (BBG) Secretive Russian oil giant has no fear of sanctions (Reuters) Ride-Sharing Services Face Legal Threat From San Francisco, Los Angeles (WSJ) Putin’s Sell-Treasuries-for-BRICS Bonds Plan Has Limits (BBG)  US Homeland Security moves to tackle climate change risks (Reuters) Air France Pilots Defend 'Gourmet' Contracts (WSJ) Ukraine Pushes for NATO Membership as Gas Talks Commence (BBG) North Korean TV acknowledges leader Kim Jong Un's health problems (Reuters) Draghi May Discover Weaker Euro Doesn’t Buy Enough Recovery (BBG) Hackers exploit 'Shellshock' bug with worms in early attacks (Reuters) Chernobyl Haven Lures War-Worn Ukrainians to Dictatorship (BBG)   Overnight Media Digest WSJ * Hedge funds and other money managers are flocking to small markets ranging from cocoa to coffee to cattle that have defied a broader plunge in raw-materials prices. These investors are betting on goods that are seeing demand soar as emerging-market countries become wealthier and their middle classes expand, increasing demand for products such as chocolate and hamburgers.(http://on.wsj.com/1vlJ9GU) * Air France's plans to conquer European skies with a budget carrier have run into severe turbulence as its pilots insist on what they regard as an inalienable right: a generous contract. As of late Thursday - and 11 days into a strike that has forced Air France to cancel more than half its flights and caused a daily operating loss of about $25.6 million - management and pilots were still at loggerheads. (http://on.wsj.com/1wN485H) * U.S. and European policy makers have hit a snag in their postcrisis efforts to coordinate on international rules for derivatives, which played a central role in the 2008 meltdown. The two sides are at loggerheads over the regulation of clearinghouses - entities that are supposed to help prevent a market-wide collapse by ensuring either party in a derivatives transaction would get paid if the other side falters. (http://on.wsj.com/1uL9koM) * A group of hedge funds that sued Argentina in the U.S. has agreed to support a request by a Citigroup Inc unit to allow the bank to make an interest payment due Tuesday to holders of restructured bonds governed by Argentine law, people familiar with the matter said Thursday. (http://on.wsj.com/1n6l8Dy) * A federal judge Thursday ordered Texas entrepreneur Sam Wyly and the estate of his deceased brother, Charles Wyly, to pay an estimated $300 million to $400 million for their role in a fraudulent offshore scheme. In May, the Wyly brothers were found liable on civil fraud allegations for using a system of offshore trusts to hide stock sales, leading to $553 million in profits. (http://on.wsj.com/1v71kRx) * Federal regulators fined U.S. Bancorp $9 million and required it to return $48 million to customers over what it called illegal billing practices related to the bank's identity-theft products. U.S. Bancorp said "we regret that errors occurred" and that the problems were related to a vendor, Affinion Group. (http://on.wsj.com/1rxcder) * Top-level discussions about the possible departure of Zhou Xiaochuan, the long-serving governor of the People's Bank of China, come as the likelihood is rising that the world's No. 2 economy may fall short of the government's annual economic growth target, 7.5 pct for 2014, for the first time since the Asian financial crisis of 1998. Many economists say Beijing may have to resort to more big-bang measures - such as a blanket interest-rate cut that, according to central bank advisers, has been fended off by Zhou - to rev up economic activity. (http://on.wsj.com/1BeuU7z)   NYT * Yahoo Inc has sold Alibaba Group Holding Ltd shares worth $6 billion after taxes, and its remaining stake is valued at $36 billion. Yet Yahoo's shares have tumbled more than 8 percent since then, highlighting the peculiarly difficult crossroad that now confronts Yahoo and its chief executive, Marissa Mayer. (http://nyti.ms/1roQ2qs) * Just a little more than a year after pulling back from South America, Sequoia Capital, the Silicon Valley venture capital firm, has led a new $13.8 million round in Nubank, a financial services start-up based in Sao Paulo. Its latest investment in Brazil comes despite recession and political uncertainty with presidential elections coming next month. (http://nyti.ms/YgIryW) * The hedge fund seeking to replace Darden Restaurants Inc board, Starboard Value, received support from two leading proxy advisory firms, Institutional Shareholder Services and Glass Lewis, which both recommended that Darden shareholders vote for the fund's proposed slate of directors at an upcoming meeting in October. (http://nyti.ms/Zftheg) * Fairholme Capital Management, one of Sears Holding Corp's largest shareholders, said on Thursday it was unable to reach an agreement with the real estate firm, St. Joe Co , to participate in the loan. Fairholme was in discussions with St. Joe to contribute up to $100 million, according to a filing on Sept. 18 with the Securities and Exchange Commission. (http://nyti.ms/1yts0Qm) * Robert A. Eckert, former chairman and chief executive of Mattel Inc, has joined the middle-market private equity firm Friedman Fleischer & Lowe as an operating partner. (http://nyti.ms/1ytsdD8) * The United States dollar, after one of its most prolonged weak spells ever, has now re-emerged as the preferred currency for global investors. Across trading desks in New York, London and elsewhere, analysts are rushing to raise their dollar forecasts based on the resurgence in the American economy.(http://nyti.ms/1sw09MM) * Chrysler, a unit of Fiat SpA, said on Thursday that it would recall 349,442 vehicles worldwide for faulty ignition switches that could cause cars to suddenly turn off while driving, adding to the recent wave of automobile recalls related to ignition problems. (http://nyti.ms/1ytslT8)   Canada THE GLOBE AND MAIL ** Just hours before Canada and the European Union release the long-awaited final text of a free trade pact, German officials visiting Ottawa delivered a blunt and unwelcome message: The deal must be changed. Senior German official Uwe Beckmeyer said sections of the deal allowing private companies to sue governments must be changed before Germany will support the Comprehensive Economic and Trade Agreement (http://bit.ly/YhdlHo) ** Ontario will slash the number of government agencies and end duplication in the public sector as it struggles to eliminate deficit in three years. These plans were laid out Thursday in Premier Kathleen Wynne's mandate letter to Deputy Premier Deb Matthews, who is directing the government's budget-cutting efforts. (http://bit.ly/1riT6Wl) ** Norway's Statoil ASA has shelved a multibillion-dollar oil sands project, blaming rising construction costs and repeated delays in new export pipelines that would boost the value of Canadian heavy crude oil. Statoil said it halted plans for the steam-driven northern Alberta development, called Corner, for at least three years. About 70 jobs will be cut. (http://bit.ly/1qBrBky) NATIONAL POST ** Any expansion of Canada's role in the war against the Islamic State in Iraq and Al-Sham that would involve direct combat such as air strikes would be brought to Parliament for a vote, Foreign Affairs Minister John Baird said Thursday. (http://bit.ly/1ro3zgW) ** International free trade and capitalism offer a path to world peace, Prime Minister Stephen Harper said Thursday in his first address to the United Nation's General Assembly since 2010. (http://bit.ly/1Bfh9Fz) ** Porter Airlines' chief executive said the decision to sell the passenger terminal at Toronto's city center airport was an alternative to going public as the company continued to hunt for new sources of capital more than four years after shelving plans for an initial public offering. (http://bit.ly/1uteTvO)   China CHINA SECURITIES JOURNAL - Boeing Co said on Thursday it had delivered the first 777-300ER airplane to China Eastern Airlines Co Ltd . China Eastern has previously ordered 20 of the plane models. CHINA DAILY - Beijing is on target to cut pollution levels by a quarter by 2017, according to a report from Tsinghua University and the Clean Air Alliance of China. - China's land watchdog will tighten control of land use for building new towns and cities because of a glut of projects lying empty, according to a notice from the Ministry of Land and Resources on Thursday. - Bank of China Ltd said on Thursday it was cutting its annual GDP growth forecast for China to 7.4 percent from 7.5 percent as its research showed the country was unlikely to show a marked recovery in the fourth quarter. SHANGHAI SECURITIES NEWS - While China's shadow banking sector does holds some "hidden risks", it can benefit the overall economy as an alternative channel for raising funds, central bank deputy governor Hu Xiaolian said at a conference on Thursday. SHANGHAI DAILY - The train network serving Shanghai is expected to carry 3.4 million people over the week-long public holiday next week, the city's railway authorities said.   FT Singaporean sovereign wealth fund GIC has agreed to buy almost half of RAC's stake from private equity firm Carlyle Group. The deal would value the company at about 2 billion pounds ($3.26 billion) including debt. The European Union's banking regulator is planning next month to clamp down on pay policies that are designed to sidestep the EU's incoming bonus cap, according to sources familiar with the regulator's draft recommendations. Lloyds Banking Group is to sell an 11.5 percent stake in TSB Banking Group Plc, nabbing the expiry of a lock-up period and Scotland's increased possibility to raise about 160 million pounds in future. Anil Agarwal, the billionaire controller of Vedanta Resources Plc, plans to give 75 percent of his wealth to charity. It is unclear whether Agarwal would relinquish control over Vedanta. Air France-KLM has shelved its plans to develop a low-cost airline across Europe as the Franco-Dutch group aims to end the 11-day pilots' strike that has cost the company about 200 million euros ($255.04 million). David Howard, chief executive officer of British stockbroker Charles Stanley Group Plc, is stepping down to comply with new regulations of the EU capital requirements directive for financial groups, which requires the company to separate the roles of chairman and CEO. Airbus Group's single-aisle passenger jet A320neo, which was upgraded to a more fuel efficient version, flew for its maiden flight above Toulouse in France on Thursday   Fly On The Wall Pre-Market Buzz ECONOMIC REPORTS Domestic economic reports scheduled for today include: Q2 GDP at 8:30--consensus up 4.6% Q2 personal consumption at 8:30--consensus up 2.9% Q2 core PCE at 8:30--consensus up 2.0% University of Michigan consumer confidence final September reading at 9:55--consensus 84.8 ANALYST RESEARCH Upgrades Aixtron (AIXG) upgraded to Overweight from Equal Weight at Morgan Stanley Chesapeake Utilities (CPK) upgraded to Buy from Hold at Brean Capital Commercial Metals (CMC) upgraded to Buy from Neutral at Citigroup Cross Country Healthcare (CCRN) upgraded to Buy from Neutral at UBS LinkedIn (LNKD) upgraded to Outperform from Market Perform at Cowen Mercury General (MCY) upgraded to Market Perform from Underperform at Keefe Bruyette Nike (NKE) upgraded to Buy from Neutral at Janney Capital Northrop Grumman (NOC) upgraded to Buy from Hold at Deutsche Bank Philips (PHG) upgraded to Overweight from Equal Weight at Morgan Stanley Textron (TXT) upgraded to Buy from Hold at Stifel WABCO (WBC) upgraded to Buy from Hold at Stifel Downgrades Air France-KLM (AFLYY) downgraded to Underperform from Hold at Jefferies Beacon Roofing (BECN) downgraded to Neutral from Buy at Longbow China Unicom (CHU) downgraded to Hold from Buy at Deutsche Bank Erickson (EAC) downgraded to Sell from Hold at Stifel H.B. Fuller (FUL) downgraded to Neutral from Overweight at Piper Jaffray Seadrill (SDRL) downgraded to Sell from Neutral at Goldman Steel Dynamics (STLD) resumed with a Neutral from Buy at Citigroup Initiations AK Steel (AKS) resumed with a Sell at Citigroup Celldex (CLDX) initiated with an Outperform at Cowen VeriFone (PAY) initiated with a Hold at Stifel Verint Systems (VRNT) initiated with a Buy at Goldman Western Gas Equity (WGP) initiated with a Neutral at Mizuho Western Gas Partners (WES) initiated with a to Buy  at Mizuho COMPANY NEWS Actavis (ACT) confirms generic Butrans patent challenge Chiquita Brands (CQB), Fyffes announce revised transaction agreement Intel (INTC) to invest up to $1.5B in semiconductor business under Tsinghua Medidata (MDSO) Solutions subject of international wire transfer fraud Repros Therapeutics (RPRX) reports Androxal met primary efficacy endpoints S&P upgrades GM (GM), GM Financial to 'BBB-' Scientific Games (SGMS) receives three-year contract extension with Delaware Lottery Susser Petroleum (SUSP) agrees to acquire Aloha Petroleum for $240M Symantec (SYMC) names Michael Brown as CEO Western Refining Logistics (WNRL) to acquire wholesale business from WNR for $360M EARNINGS Companies that beat consensus earnings expectations last night and today include: Thor Industries (THO), Nike (NKE), Diamond Foods (DMND), Micron (MU) Powell (POWL) lowers FY14 guidance after 'start-up productivity issues' NEWSPAPERS/WEBSITES Carlyle Group (CG) to pay $115M in collusion suit settlement, Reuters says Companies receive U.S. information requests on Comcast-TWC deal, Bloomberg says SYNDICATE ONEOK (OKE) files automatic mixed securities shelf     

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26 августа 2014, 18:21

Zambia says it will relax tax rules on copper exports

Zambia's government says it plans to relax tax rules on copper exports, good news for the country's copper miners that have been seeking more than $600M in unpaid tax refundsThe government had said earlier it would pay the refunds only if the companies produced import certificates, but mining executives argued that producing the import certificates is next to impossible because companies sometimes sell their minerals to middlemen.Companies such as Glencore (OTCPK:GLCNF, OTCPK:GLNCY), Vale (NYSE:VALE), First Quantum Minerals (OTCPK:FQVLF) and Vedanta Resources (OTCPK:VDNRF) invested ~$6B in Zambia during the global commodities boom, which peaked in 2011. Post your comment!

12 марта 2014, 20:23

Rio Tinto looks like a buy on valuation, Societe Generale says

It's time to buy Rio Tinto (RIO +1.6%) after shares have dropped 8% in the past week thanks to falling iron ore prices, Societe Generale analysts say as it sees potential gains of more than 30%. The recent fall in iron ore prices, even if not reversed, should result in downward revision to near term consensus earnings forecasts but should not put meaningful downside pressure on longer term earnings forecasts for RIO, the firm says. RIO shares are trading on an implicit 2015 estimated P/E of 9.4x, well below BHP Billiton's (BHP) 13.8x, Antofagasta's (OTCPK:ANFGY) 18.9x, and Vedanta Resources' (OTCPK:VDNRF) 90.3x; the firm recommends investors buy RIO shares and hedge the risk by selling more steeply priced base metals producers. Post your comment!

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07 марта 2014, 04:00

Ousted Rio Tinto chief set to head under-fire Vedanta

The mining boss ousted from Rio Tinto after multi-billion pound writedowns for ill-judged take-overs is to become chief executive of controversial Vedanta Resources.        

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06 марта 2014, 16:25

Tom Albanese to join Vedanta Resources as chief executive

Tom Albanese, the mining boss ousted from Rio Tinto in the wake of multi-billion-pound writedowns for ill-judged takeovers, has landed the top job at the controversy-ridden Vedanta Resources.        

Выбор редакции
06 марта 2014, 16:25

Tom Albanese to join Vedanta Resources

Tom Albanese, the mining boss ousted from Rio Tinto in the wake of multi-billion-pound writedowns for ill-judged takeovers, has landed the top job at the controversy-ridden Vedanta Resources.        

Выбор редакции
06 марта 2014, 12:16

Albanese named Vedanta chief executive

Former Rio Tinto head appointed chief executive of Vedanta Resources, marking a high-profile return to the helm of a leading global miner