Word: tinto
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...those businesses that are believed to be the biggest contributors to global warming. A 2000 report by Friends of the Earth on the investment portfolios of the U.K.'s top insurance companies found they invested extensively in global oil and mining companies such as ExxonMobil, Elf Aquitaine and Rio Tinto. "There's a real disconnect between the investment side and the acknowledgment of climate change," says Matthew Arnold, who tracks the U.S. insurance industry as a director of consultants Sustainable Finance. Insurers, however, insist that that's changing. With the growth of carbon-trading markets in Europe...
...safely tap some of the excitement by owning multinationals. "You don't have to buy local stocks to do this," he says. A quarter of Procter & Gamble's sales come from emerging markets, for example, and China alone accounts for 14% of revenues at Anglo-Australian mining giant Rio Tinto. Buying more-established companies may seem less exotic, but for a cautious investor, it's a way to wade into the shallow end of the emerging-markets pool...
...Australian iron-ore exports to China increased by 41%. In such a strong market, Chinese steel producers agreed to a 20% price rise. But if miners had been able to dig up the ore and ship it out faster, the Chinese would have bought even more. Mining company Rio Tinto has been selling iron ore to China for three decades. It has vast interests in the Pilbara, including nine mines and three ports. Through its subsidiary Hamersley Iron, Rio Tinto has a joint venture with Chinese steel producers in two mines, Channar and Eastern Ranges. The Channar partnership (China...
...soared: nickel by 88%, coal 72%, copper 35%. No longer do miners feel outdated and outsmarted by the dotcom people. China's growing metal consumption is pushing up prices across the board, giving companies the upside they need to commit to exploration and mining projects. Comalco, owned by Rio Tinto, recently commissioned an alumina refinery at Gladstone in central Queensland, the first plant of its kind to be built in the world for 20 years. The first liquefied natural gas shipments will begin next year from the North West Shelf to Guangdong province: the start of a 25-year...
...Follow the ore. Perhaps a future Chinese president will have gained a Rio Tinto scholarship to study at the Australian National University or honed her engineering skills at a Pilbara mine. Beyond this week's landmark visit by Prime Minister Howard, Australia's quiet revolution will continue. The long view could be just as surprising for 1.3 billion Chinese...