An international mining group, combining Rio Tinto plc and Rio Tinto Limited. The Company's principal product and global support groups are Iron Ore, Energy, Industrial Minerals, Aluminium, Copper, Diamonds, Exploration and Technology.
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Looks expensive.
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Too focused on one product
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Too dependent on China!
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Global economy in question... Australia Tax will keep the stock down even if a small recovery comes in the market.
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161 % rise is way too steep for a day.
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This portfolio tracks the performance of good vs. evil companies.
Evil elements:
- Complicity in or direct violations of environmental, labor and human rights in Indonesia, Papua New Guinea, Philippines, Namibia, Madagascar, the United States and Australia, among others.
Including:
- Eviction of the local small scale miners in the Kelian gold mine in Borneo. The families were displaced to shanty towns. Followed up in the area with a culture of sexual harassment and rape centered around the company. An independent inquiry determined that victims of sexual abuse had been threatened with dismissal if they did not cooperate or were promised a job or money in return for sex. Rio Tinto didn't inform their shareholders of this finding. (here) and (here)
- In the 70s supported the apartheid government of South Africa through uranium mining operation in Namibia that the UN called 'virtual slave labour under brutal conditions'. These operations, by admission of the company chairman maintained a 'private army' for the purposes of suppressing civil or labour unrest. (here) Keeping large gun happy security forces that are accused of everything between intimidation and outright targetted murder of opposition leaders in communities near Rio Tinto concerns is a practice the company still maintains today.(here)
- Their attempt at greenwashing includes both the typical aesthtic use of landscapes that they are actually in the process of despoiling and also the coining of the oxymoron 'sustainable mining'. (here)
- Under their subsidiary 'Bougainville Copper ltd', through pollution (they dumped the toxic tailings from their mine directly into the main river) and disregard for the local community whilst giving significant amounts of money to the central government they were instrumental in bringing about a full secessionary war in Bougainville in Papua New Guinea. (here) and (here) The area has been completely destabilised for around 40 years now.
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Negative growth expected over the next several years. Thus, growth-adjusted PE is almost 40, compared to others miners averaging less than 10.
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Not real sure at this time. Call it a hunch.
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Current price is leveraged on the GBP as well as speculation on takevoer
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Pending lawsuit bodes ill for this megaminer
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If you are buying this stock in hopes to strike it rich, you are in for a sad surprise, you would a better chance convincing Wilie Wonka to drill for chocolate in a vegetable field!
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Speculative premium in commods will cool over next several months.
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