Rio Tinto Limited (ASX: RIO) shareholders: Watch out below!

Source: Google Finance

Source: Google Finance

Today, the ASX-listed shares of the iron ore mining heavyweight are trading down as much as 4.9%, echoing the losses posted by their London-listed counterparts overnight.

Rio Tinto’s share price fall comes amid fresh concerns out of China, which released manufacturing data revealing its 14th consecutive drop in factory activity.

According to The Telegraph, analysts were expecting a reading of 49.9 on the Caixin/Markit Manufacturing Purchasing Managers’ index, however, the final reading came in at 49.4, sinking investor sentiment.

Rio Tinto’s share price has been on a bullish run in recent weeks, as key commodity prices showed signs of life following steep falls in 2015. However, iron ore prices in particular are expected to return to their downward trajectory throughout the remainder of 2016.

There’s also a swath of negative press sweeping over the ASX’s other top diversified miner, BHP Billiton Limited (ASX: BHP). At the time of writing, BHP shares are down 7.7% following news the Brazilian government launched a $58 billion lawsuit against it and fellow joint venture partner, Vale SA. The claim relates to the tragic dam wall slide at their Samarco operations during November 2015.

I'm not buying into Rio (or BHP!) shares any time soon because I'm looking for other - faster growing - dividend shares to add to my portfolio, like the one The Motley Fool's expert analysts hand-picked as their best dividend share idea for 2016. Simply click here to gain access to their comprehensive FREE investment report, including the name of this fast growing ASX dividend share. No credit card required!

HOT OFF THE PRESSES: Motley Fool’s #1 Dividend Pick for 2017!

With its shares up 155% in just the last five years, this ‘under the radar’ consumer favourite is both a hot growth stock AND our expert’s #1 dividend pick for 2017. Now we’re pulling back the curtain for you... And all you have to do to discover the name, code and a full analysis is enter your email below!

Simply enter your email now to receive your copy of our brand-new FREE report, “The Motley Fool’s Top Dividend Stock for 2017.”

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our https://www.fool.com.au/financial-services-guide">Financial Services Guide (FSG) for more information.

Motley Fool Contributor Owen Raszkiewicz does not have a financial interest in any company mentioned. Owen welcomes -- and encourages -- your feedback on Google+, LinkedIn or you can follow him on Twitter @ASXinvest.

The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.