Rio Tinto Plc (ADR)

Rio Tinto Chief Executive Jakob Stausholm said: "It has been an extraordinary year - our successful response to the COVID-19 pandemic and strong safety performance were overshadowed by the tragic events at the Juukan Gorge, which should never have happened. "During 2020, the agility and resilience of the business and our employees, coupled with strong commodity prices, enabled us to deliver underlying EBITDA of $23.9 [...]

A strategic review by Aluchemie owners Rio Tinto and Hydro has determined it is not viable to make the ongoing investments needed to continue operating the stand-alone anode production facility in Rotterdam, Netherlands, due to its weak competitive position and challenging market conditions. As a result, production at Aluchemie is expected to finish at the end of 2021. A consultation process with the relevant European [...]

Rio Tinto has reached agreement on an amended power contract that will allow the ISAL aluminium smelter in Iceland to continue operating with an improved competitive position. The agreement with power supplier, Landsvirkjun, will deliver a more competitive power price and energy flexibility that is mutually beneficial for both ISAL and Landsvirkjun. Rio Tinto Aluminium chief executive Alf Barrios said: "We are pleased to [...]

Rio Tinto will increase its focus on operational excellence and project development, strengthening the company's ESG credentials, and rebuilding trust, particularly in Australia, under a new organisational structure. This approach will be underpinned by the safe operation of our world-class assets, continued disciplined capital allocation, and a strong balance sheet. To achieve these goals, Rio Tinto Chief Executive Jakob [...]

Rio Tinto Chief Executive Jakob Stausholm said “We have delivered a strong safety and operational performance in the face of the significant global challenges of COVID-19. Our 2020 performance reflects the resilience of the business, and the commitment and flexibility of our employees, customers, communities and host governments. "We are working to restore trust with the Puutu Kunti Kurrama and Pinikura people. Some [...]

The Resolution Copper project has entered the next phase of public consultation in the ongoing permitting process, led by the US Forest Service, with the release of its independent Final Environmental Impact Statement . Decisions on whether to invest fully in developing the project, a proposed underground mine located in Arizona and one of the world’s most significant undeveloped copper deposits, remain subject to further [...]

Rio Tinto has reached an agreement on a new electricity agreement with Meridian Energy that allows New Zealand’s Aluminium Smelter to continue operating the Tiwai Point aluminium smelter until December 31, 2024. The extension provides certainty to employees, the local community and customers while providing more time for all stakeholders to plan for the future. While discussions with the New Zealand government are [...]

Rio Tinto and the Puutu Kunti Kurrama and Pinikura people confirm they have taken initial steps in rebuilding their relationship following the events at Juukan Gorge in May 2020. PKKP in co-operation with Rio Tinto have been involved in remedial works at Juukan Gorge. These works will continue. A joint session of the PKKP and Rio Tinto boards has been held to reaffirm Rio Tinto’s apology and commitment to rebuilding our [...]

Rio Tinto’s 2020 Argyle Pink Diamonds Tender collection of 62 rare pink, red, blue and violet diamonds from its Argyle mine in Australia has delivered a record result, reflecting their extraordinary rarity and unique provenance. The 2020 collection continued its trajectory of double digit price growth and a record number of participants with successful bidders from eight countries. Whilst bids and values remain [...]

Rio Tinto has appointed Jakob Stausholm as chief executive, effective 1 January 2021. Since joining Rio Tinto as an executive director and chief financial officer in 2018, Mr Stausholm has played a leading role in the Group’s strong performance, maintaining capital allocation discipline and delivering significant shareholder returns, while strengthening the balance sheet. Mr Stausholm is an experienced global executive [...]