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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
Rio Tinto has reached agreement with the Australian Taxation Office on all tax matters in dispute. The agreement resolves the disagreement relating to interest on an isolated borrowing used to pay an intragroup dividend in 2015. It also separately resolves the pricing of certain transactions between Rio Tinto entities based in Australia and the [...]
Skyharbour Resources is pleased to announce the closing of the previously reported Option Agreement with Rio Tinto Exploration Canada to acquire up to 100% of the Russell Lake Uranium Project, which comprises 26 claims covering 73,294 hectares of prospective exploration ground strategically situated between the Company’s Moore Uranium project (to [...]
Rio Tinto Chief Executive Jakob Stausholm, said: "We strengthened our operational performance at a number of sites, which we will now replicate across the portfolio. The delivery of first ore at Gudai-Darri, our first greenfield mine in the Pilbara for over a decade, increases mine capacity and supports production of our flagship Pilbara [...]
