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Rio warning sends resource stocks plummeting | theage.com.au

Rio warning sends resource stocks plummeting
The Age

Barry FitzGerald

October 17, 2008
RIO TINTO’S confession that the five-year commodities boom was unravelling has triggered a global sell-off in resource equities and mineral commodities.

The big four of the industry – BHP Billiton, Rio Tinto, Xstrata and Anglo American – took their biggest one-day share-price hits since the 1987 crash while the slide in metal prices accelerated, in some cases to below marginal costs of production.

Rio let the cat out of the bag on Wednesday in its September quarter production report.

Tags: nuclear, antinuclear, radioactive, uranium

October 17, 2008 - Posted by Christina Macpherson | business and costs

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