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Rio to revisit historic highs

It’s been more than 10 years since Rio Tinto shares sold for more than A$100 each, or £50 if shopping in sterling (US$64.50) but, with a bumper dividend likely to be announced by the big miner when filing its annual results later this month, there is an expectation of a return to a sky-high share price.

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Citi, a well-credentialled investment bank, earlier today penciled in A$102 as the target price for the stock, which has received an unexpected boost from a sharp increase in the price of iron ore