Iron ore prices help Rio Tinto fork out $1bn dividend, despite Oyu Tolgoi setback
Despite being its best half-year earnings since 2014, net profit dropped by 6% to $4.13bn as it wrote down $800 million from its investment in the Mongolian mine.
Kibali will rank as one of the largest gold mines in Africa when in full production, expecting to produce an average of 600,000 ounces of gold per annum over the first twelve years of its life.
Davis’ X2 Resources has already built a war chest of almost $4 billion and is believed to be asking JPMorgan for US$8bn loan to back up a formal offer to BHP.