Rio Tinto Plc (ADR)

Rio Tinto confirms that Dr Megan Clark has stepped down as a non-executive director on 15 December 2023, having served for nine years on the Board of Directors. Rio Tinto Chair Dominic Barton said, "I would like to express my sincere thanks to Megan for her contribution to Rio Tinto. We will greatly miss her insights and wise counsel. On behalf of the Board, I wish Megan well for the future." This announcement is made in [...]

Rio Tinto will today hold its 2023 Investor Seminar in Sydney, where it will update on progress in its long-term strategy of investing with discipline to strengthen operations, deliver growth in a decarbonising world and continue to generate attractive shareholder returns. Rio Tinto Chief Executive Jakob Stausholm said: "We strongly believe we are well positioned in an opportunity rich world. There has never been greater [...]

Rio Tinto will provide an update today at its Investor Seminar on the world class Simandou iron ore project in Guinea, which is being progressed in partnership with CIOH, a Chinalco-led consortium, Winning Consortium Simandou1 , Baowu and the Republic of Guinea. Simandou is the world's largest untapped high-grade iron ore deposit. The Simfer joint venture's2 mine concession held an estimated Total Mineral Resource as at [...]

Rio Tinto will replace its entire fossil diesel consumption with renewable diesel at its Kennecott copper operation in Utah from 2024. Kennecott's fleet of 90 haul trucks and all heavy machinery will begin to transition to renewable diesel in the first quarter of 2024, along with consumption from the concentrator, smelter, and refinery. The transition will reduce Kennecott's Scope 1 carbon emissions by approximately [...]

Rio Tinto has approved a $77 million pre-feasibility study to progress development of the Rhodes Ridge project, one of the world's best undeveloped iron ore deposits, in the East Pilbara in Western Australia. The commencement of a PFS follows completion of an Order of Magnitude study that considered development of an operation with initial capacity of up to 40 million tonnes annually, subject to relevant approvals. The [...]

Rio Tinto and Giampaolo Group have completed a transaction to form the Matalco joint venture, combining the strengths of North America's largest primary and secondary aluminium producers to meet the growing demand from manufacturers for low carbon materials. Following the receipt of all regulatory approvals, Rio Tinto has acquired a 50% equity stake in the Matalco business from Giampaolo Group for $700 million, subject to [...]

Rio Tinto has reached a court approved settlement with the Securities and Exchange Commission of a suit brought in 2017 concerning disclosure of the impairment of Rio Tinto Coal Mozambique reflected in Rio Tinto's 2012 year-end accounts. Without admitting to or denying the SEC's allegations related to its books, records and reporting requirements, Rio Tinto will pay a US$28 million penalty and retain an independent [...]

Rio Tinto and Aymium have partnered to develop and trial a renewable biocarbon product for use as an alternative resource to reduce emissions in large scale industrial processes. The product has been successfully trialled as a replacement for anthracite used in ilmenite smelting processes at Rio Tinto's metallurgical complex in Sorel-Tracy, a world leading producer of high-grade titanium dioxide feedstock as well as iron [...]

Rio Tinto has today completed the acquisition of PanAmerican Silver's stake in Agua de la Falda and entered a joint venture with Corporación Nacional del Cobre de Chile to explore and potentially develop the company's assets in Chile's prospective Atacama region. The acquisition, announced on 1 August 2023, comprises a 57.74% operating stake in Agua de la Falda for $45 million and the grant of net smelter returns [...]

Rio Tinto and cable solution provider Prysmian are partnering to build a more sustainable North American supply chain for materials needed to expand power grids for the energy transition. Power generation from renewables in the U.S. is expected to increase from 21% in 2021 to 44% in 20501, requiring significant investments in power grids and boosting demand for innovative materials used in electrification projects. To [...]