Rio Tinto paid $7.6 billion in taxes and royalties globally in 2019, including $4.8 billion of corporate tax, as detailed in its latest Taxes paid report, published today. The majority of its taxes were paid in Australia , home to the largest part of Rio Tinto’s business. The company also made significant payments in Chile , Mongolia , Canada , United States , the United Kingdom and South Africa . The report also outlines [...]
Rio Tinto chief executive J-S Jacques said ?Covid-19 is a human tragedy and we all have to play our part as the pandemic spreads. Rio Tinto?s first priority remains the health and safety of all of our employees and communities. During these uncertain times, we continue to deliver products to our customers supported by our global sales and marketing teams. ?We have taken extensive measures across the business to help [...]
Today, as a result of separate actions by the Premier of Quebec and the President of South Africa to contain the spread of COVID-19, Rio Tinto will slow down some of its operations. At Richards Bay Minerals in South Africa Rio Tinto will curtail production in compliance with a directive from the Government aimed at containing the spread of COVID-19. As a result, all mining operations at RBM will be halted by midnight on [...]
Rio Tinto’s Kennecott mine near Salt Lake City , Utah, was today impacted as a result of a 5.7-magnitude earthquake close to the town of Magna. All employees have been safely accounted for and evacuated from the potential risk areas. At this stage we have identified limited damage to the operation or risk to the surrounding community. A detailed inspection of the complex is currently being conducted, in conjunction [...]
Rio Tinto is working with the Government of Mongolia to ensure Oyu Tolgoi is operating in accordance with the restrictions the Mongolian authorities have put in place to contain the spread of COVID-19. The first priority of the Rio Tinto and Oyu Tolgoi teams is the health and safety of all of our employees, contractors and the wider community. Since January the movement of goods and people within Mongolia have been [...]
As previously disclosed, in light of the ongoing investigations by regulators into a payment made to a consultant in relation to the Simandou iron ore project in Guinea, a deed of deferral was mutually agreed between Rio Tinto and Sam Walsh, as a matter of good corporate governance. Sam was chief executive of the iron ore product group at the time the payment was made. The principal provision of this deed was that the [...]
The Rio Tinto 2019 full year results presentation slides are available at https://www.riotinto.com/invest/financial-news-performance/regulatory-filings The presentation will be given at 8.30am GMT today by Rio Tinto chief executive, Jean-Sébastien Jacques, and chief financial officer, Jakob Stausholm. The live webcast will be available at https://www.riotinto.com/invest/presentations/2020/annual-results View source [...]
Rio Tinto Chief Executive J-S Jacques said “We have again delivered strong financial results with underlying EBITDA of $21.2 billion, underlying EBITDA margin of 47% and return on capital employed of 24%. This performance allows us to return a record final ordinary dividend of $3.7 billion, resulting in a full-year ordinary dividend of $6.2 billion and total cash returns of $7.2 billion. “In line with our [...]
Rio Tinto will appoint three new independent non-executive directors to the board. Hinda Gharbi, executive vice president of Reservoir & Infrastructure at Schlumberger Ltd. , and Jennifer Nason, a Global Chairman at JP Morgan Chase & Co , will join the board with effect from 1 March 2020. Ngaire Woods, Professor of Global Economic Governance at Oxford University, will join with effect from 1 September 2020. The new [...]
Rio Tinto continues to progress options to secure domestically sourced power for the Oyu Tolgoi copper mine in Mongolia, which it is obliged to do by 30 June 2023 under the 2009 Investment Agreement between Turquoise Hill, the Government of Mongolia and Rio Tinto and subsequent Power Sector Framework Agreement, signed in 2018. In compliance with these agreements, Oyu Tolgoi LLC today submitted to the Government of [...]
Rio Tinto’s iron ore operations in the Pilbara, Western Australia, are progressively resuming following the passing of Tropical Cyclone Damien. The cyclone caused infrastructure damage across our entire Pilbara network, including impact to access roads, electrical and communications infrastructure and accommodation. All mine sites experienced some disruption and will take time to return to normal operations. As a [...]
Rio Tinto has approved a $98 million investment in a new solar plant at the Koodaideri mine in the Pilbara, Australia, as well as a lithium-ion battery energy storage system to help power its entire Pilbara power network. The 34 megawatt solar photovoltaic plant is expected to supply all of Koodaideri’s electricity demand during peak solar power generation times and approximately 65 per cent of the mine’s [...]
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