Rio Tinto & BHP Billiton gain on G20 plan

NEW YORK: Even as US stocks market soared to new heights, mining sector also joined the bull run with substantial gains. Some mining companies’ shares jumped hugely on Wall Street. Rio Tinto Limited, an international business company engaged in metal and mineral production, posted a gain of 4.62% on Thursday. BHP Billiton Limited, a diversified natural resources company, jumped 3.99% during the Wall Street rally. The company has businesses producing alumina and aluminum, copper, energy (thermal) coal, iron ore, nickel, manganese, metallurgical coal, oil and gas and uranium, as well as gold, zinc, lead, silver and diamonds. Alcoa Inc, which is engaged in the production and management of primary aluminum, fabricated aluminum, and alumina combined, also witnessed surge in their stocks. It moved up 7.63 on NYSE on Thursday. The company’s s products are used worldwide in aircraft, automobiles, commercial transportation, packaging, building and construction, oil and gas, defense, and industrial applications. Alcoa is a global company operating in 35 countries.