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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (88418)	3/26/2012 8:15:21 AM
From: TobagoJack	Read Replies (3) \| Respond to of 217573

just in in-tray Sent: Monday, March 26, 2012 8:01 PM Subject: Re: Comments - Week of March 26 Since the recovery began in mid-2009, the S&P 500 (orange) and expected inflation (blue) have tracked each other almost perfectly. theatlantic.com

To: Haim R. Branisteanu who wrote (88418)	3/27/2012 1:32:48 PM
From: average joe	Read Replies (1) \| Respond to of 217573

Globeinvestor - March 27, 2012 Melbourne — A second miner of Canadian diamonds is headed for the exits. Rio Tinto, the world’s third-largest miner, effectively invited bids on Tuesday for its diamonds business, on its books at $1.2-billion, and joined rival BHP Billiton in backing away from a business that has lost its sparkle. Rio Tinto, which runs three mines in Australia, Canada and Africa, said it was reviewing its diamond business and would consider selling it, as the group focuses on expanding in more profitable commodities such as iron ore, copper and uranium. Its diamond business – the 100-per-cent-owned Argyle mine in Australia, famous for its pink diamonds, as well as 60-per-cent-owned Diavik mine in Canada and 78-per-cent-owned Murowa mine in Zimbabwe – could come on the market at the same time as BHP Billiton tries to sell its Ekati diamond mine in Canada. “We have a valuable, high quality diamonds business, but given its scale we are reviewing whether we can create more value through a different ownership structure,” Rio Tinto’s diamonds and minerals chief executive, Harry Kenyon-Slaney, said in a statement. An industry analyst estimated Rio Tinto’s diamonds business could fetch around $2-billion, though this was well north of its book value of $1.2-billion. The analyst declined to be named as he is not the lead analyst on the company. Net earnings from Rio Tinto’s diamonds business slumped 86 per cent to $10-million last year on revenue of $727-million, as the group was hit by lower production and higher costs at Argyle. The previous year was also boosted by a tax benefit. The open-pit Argyle mine, undergoing a $2.1-billion expansion underground, is the largest diamond producer in the world by volume and the largest source for pink diamonds, however only 0.1 per cent are actually considered pink. Only about 5 per cent of the output is of gem quality, with Argyle diamonds being used in everything from road paving to medical and industrial drilling equipment. Rio’s shares rose 0.4 per cent to $64.01 Australian, lagging a 0.8 per cent rise in the broader market.