Rio Tinto revamp hints at possible $12 billion BHP-style spinoff

The Sydney Morning Herald reports that Rio Tinto looks like it's putting about $US9 billion of unwanted assets from coal and uranium to Canadian iron ore into a single basket to prepare for a potential spinoff, according to investment firm Sanford C. Bernstein.

The incoming chief executive officer, Jean-Sebastien Jacques, on Tuesday revamped the four key divisions of the mining giant. The new energy and minerals segment features coal and uranium mines, salt, borates and titanium-dioxide businesses, and Rio's Iron Ore of Canada unit.

Jacques' shakeup of Rio follows the move by larger rival BHP Billiton last year to create South32 by hiving off manganese, coal, alumina and nickel assets it no longer needed and offering them to investors.

Telstra moves into mining and petroleum technology services

The sharpened focus on cost reduction and efficiency among mining companies has driven Telstra to make a leap into the provision of mining technology services in a move intended to pave the way for a new global growth business, according to the Australian Financial Review.

The formation of Telstra Mining Services, to be formally announced on Thursday, is the second business “vertical” created for the telco's Global Industries group following on from last year's establishment of Telstra Broadcast Services, the rebranded Globecast business that focuses on the broadcast media sector.

Clive Palmer moves to sack QNI liquidator

Businessman Clive Palmer is trying to have FTI Consulting sacked as liquidators of his Queensland Nickel refinery, according to the Australian Financial Review.

Only a week after the Queensland businessman filed a $1.2 billion lawsuit against the firm, Mr Palmer's lawyers asked the Supreme Court in Brisbane to have FTI Consulting director John Park and his team removed from the Townsville refinery.