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Contemporary Issues in International
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Contemporary Issues in International Business
...... Some indication of how the recent global economic downturn has affected the Australian mining industry can be gained by examining the stock performance of one of the largest and most influential of the companies competing in the Australian mining industry, Rio Tinto, a conglomerate that was forged from the merger of CRA Ltd. and RTZ, one of the worlds largest mining concerns (Tickner, 2001). Although coal, iron ore, and gold mining form the major bulk of the Australian mining industry, today, Rio Tinto is also engaged in other mining operations. According to Rio Tintos corporate profile, the company mines bauxite, alumina, and aluminum; copper and diamonds, gold, silver, molybdenum, magnetite, vermiculite, and diamonds; uranium, titanium dioxide, borates, and talc; and iron ore products, including iron ore, pig iron, salt, and gypsum (Rio Tinto, 2009, p. 3)
As can be readily discerned from the companys historic stock performance shown in Figure 2 below, the recent global economic downturn has had an enormous financial impact on this mining company......
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