Rio Tinto

Company Description

Rio Tinto Limited is a multinational metals and mining corporation that is dual-listed on the London Stock Exchange and the Australian Securities Exchange. Founded in 1873, Rio Tinto has evolved to become a leader in the extraction of minerals, especially aluminum, iron ore, copper, uranium, and diamonds, and developed operations in refining, particularly for bauxite and iron ore. With a global presence, Rio Tinto is primarily operating in Australia and Canada.

Detailed Description

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities. Rio Tinto Group was founded in 1873 and is headquartered in London, the United Kingdom.

Wikipedia Introduction

Rio Tinto Group is an Anglo-Australian multinational and the world's second-largest metals and mining corporation, behind BHP, producing iron ore, copper, diamonds, gold and uranium. The company was founded in 1873, when a multinational consortium of investors purchased a mine complex on the Rio Tinto, in Huelva, Spain, from the Spanish government. Since then, the company has grown through a long series of mergers and acquisitions to place itself among the world leaders in the production of many commodities, including aluminium, iron ore, copper, uranium and diamonds. Although primarily focused on extraction of minerals, Rio Tinto also has significant operations in refining, particularly for refining bauxite and iron ore. Rio Tinto has joint head offices in London (global and "plc") and Melbourne ("Limited" – Australia). Rio Tinto is a dual-listed company traded on both the London Stock Exchange, where it is a component of the FTSE 100 Index, and the Australian Securities Exchange, where it is a component of the S&P/ASX 200 index. Additionally, American Depositary Shares of Rio Tinto's British branch are traded on the New York Stock Exchange, giving it listings on a total of three major stock exchanges. In the 2020 Forbes Global 2000, Rio Tinto was ranked as the 114th-largest public company in the world. In May 2020, to expand the Brockman 4 mine, Rio Tinto demolished a sacred cave in Juukan Gorge, Western Australia, which had evidence of 46,000 years of continual human occupation, and was considered the only inland site in Australia to show signs of continual human occupation through the last Ice Age. Rio Tinto later apologised for the distress caused and CEO Jean-Sébastien Jacques subsequently stepped down. Rio Tinto has been widely criticised by environmental groups as well as the government of Norway for the environmental impacts of its mining activities: claims of severe environmental damages related to Rio Tinto's engagement in the Grasberg mine in Indonesia led the Government Pension Fund of Norway to exclude Rio Tinto from its investment portfolio. Academic observers have also expressed concern regarding Rio Tinto's operations in Papua New Guinea, which they allege were one catalyst of the Bougainville separatist crisis. There have also been concerns over corruption: in July 2017 the Serious Fraud Office (SFO) announced the launch of a fraud and corruption investigation into the company's business practices in Guinea.

Source: Wikipedia, retrieved on March 31, 2022, 9:04 p.m.

Product & Services

Iron ore, Bauxite, Alumina, Aluminium, Copper, Molybdenum, Gold, Diamonds, Uranium, Titanium Dioxide, Borates, Salt, Talc

Key People

Simon Thompson (chair­person)  Jakob Stausholm

Financials

Revenue: US$63.495 billion (2021)

Operating income: US$29.817 billion (2021)

Net income: US$22.575 billion (2021)

Total assets: US$102.896 billion (2021)

Total equity: US$51.432 billion (2021)

Details

Headquarters:

6 St James’s Square

London, SW1Y 4AD

United Kingdom

Phone: 44 20 7781 2000