Rio Tinto Ltd.

Rio Tinto today announced it will join the First Movers Coalition, a global initiative to help commercialise zero-carbon technologies by harnessing purchasing power and supply chains. More than 50 companies with a collective market value of about $8.5 trillion across five continents now make up the coalition to create early markets for innovative clean energy technologies. The initiative is led by the World Economic Forum [...]

Rio Tinto and China Baowu Steel Group Co. Ltd have agreed to enter into a joint venture with respect to the Western Range iron ore project in the Pilbara, Western Australia, investing $2 billion to develop the mine. Western Range's annual production capacity of 25 million tonnes of iron ore will help sustain production of the Pilbara Blend from Rio Tinto's existing Paraburdoo mining hub. The project includes construction [...]

Rio Tinto has entered into a binding agreement to acquire all of the remaining shares of Turquoise Hill Resources Ltd. that Rio Tinto does not currently own . The Independent Directors of Turquoise Hill have unanimously recommended that Turquoise Hill minority shareholders vote in favour of the Transaction and, together with senior officers of Turquoise Hill, have entered into voting support agreements with respect to all [...]

Rio Tinto and Turquoise Hill Resources Ltd. have reached an agreement in principle for Rio Tinto to acquire the approximately 49% of the issued and outstanding common shares of Turquoise Hill that Rio Tinto does not currently own for C$43 per share in cash . The agreement has the unanimous approval of the independent Special Committee of Turquoise Hill's Board of Directors , and values the Turquoise Hill minority share [...]

Rio Tinto is investing US$29 million to build a new aluminium recycling facility at its Arvida Plant in Saguenay-Lac-Saint-Jean, Quebec, to expand its offering of low-carbon aluminium solutions for customers in the automotive, packaging and construction markets. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220825005647/en/ Aluminium scrap The facility will [...]

Rio Tinto has submitted an improved non-binding proposal to the Turquoise Hill Board to acquire the approximately 49% of the issued and outstanding shares of Turquoise Hill that Rio Tinto does not currently own . Under the terms of the Improved Proposal, Turquoise Hill minority shareholders would receive C$40 in cash per Turquoise Hill share. This proposal values the Turquoise Hill minority share capital at approximately [...]

Rio Tinto notes the Turquoise Hill announcement today indicating that the Turquoise Hill Special Committee has terminated its review of Rio Tinto's non-binding proposal to acquire full ownership of Turquoise Hill for C$34 in cash per Turquoise Hill share . Rio Tinto is disappointed by the decision of the Special Committee and continues to believe that the terms of the Proposed Transaction would deliver compelling value [...]

Rio Tinto has completed the sale of a royalty it holds on an area including the Cortez mine operational area and the Fourmile development project in Nevada to RG Royalties LLC, a direct wholly-owned subsidiary of Royal Gold Inc., for $525 million in cash. The Cortez Royalty is a 1.2%1 gross production royalty on the Cortez gold mine that is operated by Nevada Gold Mines, a joint venture between Barrick Gold Corp. and [...]

Rio Tinto Chief Executive Jakob Stausholm said: "We remain focused on delivering on our long-term strategy, with a steady improvement in operating performance and some notable advances in our growth agenda. We continue to strengthen our partnership with the Mongolian government following commencement of underground mining at Oyu Tolgoi, delivered first iron ore from the Gudai-Darri mine and approved early works funding at [...]

Ford Motor Company and Rio Tinto have signed a non-binding global memorandum of understanding to jointly develop more sustainable and secure supply chains for battery and low-carbon materials to be used in Ford vehicles. The multi-materials partnership will support the transition toward a net-zero future by supplying Ford, one of the world's largest automakers, with materials including lithium, low-carbon aluminium and [...]