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Rio Tinto agrees sale of Alcan Cable
Rio Tinto has reached an agreement to sell Alcan Cable to General Cable Corporation for US$185 million. The sale is expected to close later this year after the transaction receives all necessary regulatory clearances.
Rio Tinto completes formation of Simandou joint venture with Chalco
Rio Tinto and Chinalco's listed subsidiary, Chalco, have completed the formation of their joint venture (JV) to develop and operate the Simandou iron ore project in Guinea, following the completion of all Chinese regulatory approvals. As a result, a consortium led by Chalco has made an earn-in payment of US$1.35 billion, in line with an agreement reached with Rio Tinto in March 2010.
Rio Tinto sets out track record as Olympics medals provider
Rio Tinto today set out its ethical track record to support its role as the official metal provider for the 4,700 medals for the London 2012 Olympic and Paralympic Games.
Rio Tinto: First quarter 2012 operations review
Chief executive of Rio Tinto Tom Albanese said “We had a solid first quarter with increased production of iron ore, coal, bauxite, alumina and titanium dioxide compared with the first quarter of 2011. This was driven by a combination of our consistently high operating performance and reduced impact from severe weather than in 2011. We were therefore well positioned for the relatively strong markets in the first quarter, albeit with continued volatility as we anticipated.” Read more here.
Rio Tinto joins new iron ore trading network
Rio Tinto has become a member of the new China Beijing Metals Exchange (CBMX). The CBMX is an electronic trading platform that will provide participating members with an additional iron ore trading channel in the China market.
Rio Tinto receives binding offer for its specialty aluminas business
Rio Tinto has received a binding offer for its specialty aluminas business from H.I.G. A period of exclusivity has been agreed to with H.I.G. and Rio Tinto will respond to the binding offer following consultation with the relevant European works councils. The terms of the binding offer are confidential.
Rio Tinto and iGATE Patni open world-leading innovation centre in India
Rio Tinto and iGATE Patni today opened a state-of-the-art innovation centre in Pune, India to support global growth and development of Rio Tinto’s industry-leading Mine of the Future™ programme.
Rio Tinto reviews options for future of its diamond business
Rio Tinto has begun a strategic review of its diamond business that will include exploring a range of options for potential divestment of its diamond interests.
Rio Tinto completes US$7 billion share buy-back programme
The US$5 billion Rio Tinto buy-back programme announced in February 2011 and which was subsequently increased to US$7 billion in August 2011, was completed on 26 March 2012.
Rio Tinto Finance (USA) plc prices US$2.5 billion of fixed rate bonds
Rio Tinto Finance (USA) plc prices US$2.5 billion of fixed rate bonds
Rio Tinto publishes details of its US$10.2 billion global tax payments in 2011
Rio Tinto has published its latest ‘Taxes paid report’ which details the US$10.2 billion of taxes the company paid globally in 2011, which is almost 40 per cent higher than in 2010. The voluntary report also breaks down the details of all individual payments over US$1 million made to governments in 34 countries where the Group operates.
Rio Tinto to close its Lynemouth smelter
Rio Tinto Alcan will close the Lynemouth aluminium smelter in Northumberland, England on 29 March 2012. Closure follows an extensive period of consultation with employee representatives.
Rio Tinto expands Mine of the Future programme with new technologies in underground tunnelling and mineral recovery
Rio Tinto is pushing ahead with its industry-leading Mine of the FutureTM programme, with plans for the development and testing of new technologies in underground tunnelling and mineral recovery.
Rio Tinto invests US$518 million in autonomous trains for Pilbara iron ore rail network in Western Australia
Rio Tinto will run the world’s first automated long-distance heavy-haul rail network, with a US$518 million investment (Rio Tinto share US$478 million) in driverless trains.
Rio Tinto approves US$1.4 billion investment in Escondida
Rio Tinto has approved US$1.4 billion for two projects to support higher production at the Escondida copper mine in Chile. Rio Tinto holds a 30 per cent interest in Escondida.
Rio Tinto announces record underlying earnings of $15.5 billion – net earnings reduced by impairment charge
Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and New York Stock Exchange listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange. Read their latest earnings figures here.
Rio Tinto to invest a further US$3.4 billion in expansion of iron ore operations in Western Australia
Rio Tinto has committed a further US$3.4 billion (Rio Tinto share $2.9 billion) to the major expansion of its Pilbara iron ore operations in Western Australia.
Rio Tinto: Board and committee changes
John Varley has been appointed senior independent director of the boards of Rio Tinto plc and Rio Tinto Limited. He will succeed Andrew Gould who, as previously announced, will retire from the boards at the conclusion of the 2012 annual general meetings on 10 May.
Rio Tinto: Research shows potential of automation for the future of the mining industry
World-first technology in the mining industry is contributing to better health and safety for miners, production efficiencies and improved energy consumption and environmental benefits, according to new research.
Fourth quarter 2011 operations review
Chief executive Tom Albanese said “This was another record-breaking year in the Pilbara with both quarterly and full year iron ore production and shipments beating previous achievements, as our expansion programme continues apace."
Rio Tinto sponsors two of Mongolia’s top Olympians
Rio Tinto, manager of the world-class Oyu Tolgoi mine in South Gobi, is sponsoring Lkhamdegd Purevjargal and Mandakhnaran Ganzorig, two leading Mongolian athletes competing in the London 2012 Olympic Games.
Rio Tinto completes acquisition of Hathor Exploration
Rio Tinto announces that it has, through an indirect wholly-owned subsidiary, acquired the remaining 7,944,151 Hathor common shares not already owned by Rio Tinto and its affiliates, representing approximately 5.87 per cent of the outstanding Hathor common shares on a fully-diluted basis, pursuant to a compulsory acquisition under the Canada Business Corporations Act.
Rio Tinto offer for Hathor Exploration
Rio Tinto, through an indirect wholly-owned subsidiary, has now taken up a total of 119,456,310 Hathor common shares.
Rio Tinto successful in arbitration against Ivanhoe Mines
An independent arbitrator has upheld Rio Tinto’s claim in respect of Ivanhoe Mines’ Shareholder Rights Plan (the “SRP”). This means that after a standstill agreement expires on 18 January 2012, Rio Tinto has the ability to purchase additional shares in Ivanhoe beyond its current holding of 49 per cent without being diluted by the SRP.
Rio Tinto extends offer for Hathor Exploration
Rio Tinto has extended its offer, made through an indirect wholly-owned subsidiary, to acquire all the common shares of Hathor for C$4.70 in cash per common share until 5:00 pm (Toronto time) on 22 December 2011. The offer has been extended to allow the remaining Hathor shareholders sufficient time to tender their common shares to Rio Tinto’s offer.
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