Glencore, Blackstone eyeing Rio assets

Commodities giant Glencore Xstrata, private equity fund Blackstone and Indian companies are eyeing the $10 billion of assets Rio Tinto Ltd is continuing to attempt to offload, according to The Australian

Rio's Canadian iron ore operations are reportedly attracting interest from Glencore and Blackstone, while the NorthParkes copper mine in New South Wales and thermal coal assets in NSW and Queensland are also on the market, The Australian said. 

Rio has made no secret of its asset sales program, which has been running since 2008, but in the past year has sold just $500 million in assets. 

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RIO must be starting to attract a play for the whole either from BHP (hopefully) or private equity parties.....all its going to need are 3 things to go wrong: 1. Iron ore comes off, making some of RIOs iron ore mines unprofitable...(not all all are low producers). 2. The legal stousch in Semendou hots up and RIO lose a bundle...say $6b. 3. Olu Tolgoi faces demands from the Mongolian government for 51% control and RIO walks away in a huff... to fight contracts at 50 paces in a court of arbitration. Walsh is demonstrating he is way out of his depth and RIO are way too dependant on iron ore to fund any mess they get in.
I did for get to mention that aluminium that $40billion beasty making $1million profit is heavily subsidised by iron ore....and most of the al plants require heavy loads of electricity, and upgrading which is going to send costs up up and away...making that $1m profit highly doubtful in forth coming yrs. And of course we all know that coal anywhere isnt making a profit..the only way RIO can go is down, selling anything only uses funds to pay higher energy costs in other areas, and BSing about China paying higher prices for iron ore will only last for so long before folk cotton on to the fact that RIO are selling the farm to stand still.