Rio Tinto has committed $150 million to create a Centre for Future Materials led by Imperial College London to find innovative ways to provide the materials the world needs for the energy transition. The 'Rio Tinto Centre for Future Materials' will fund research programmes to transform the way vital materials are produced, used and recycled, and [...]
Rio Tinto : Six months ended 30 June 2023 2022 Change Net cash generated from operating activities 6,975 10,474 % Purchases of property, plant and equipment and intangible assets 3,001 3,146 % Free cash flow1 3,769 7,146 % Consolidated sales revenue 26,667 29,775 % Underlying EBITDA1 11,728 15,597 % Profit after tax attributable to owners of Rio [...]
Rio Tinto and Giampaolo Group, one of North America's largest fully-integrated metal management businesses, have entered into an agreement to form a joint venture to manufacture and market recycled aluminium products. The transaction reflects the joint venture partners' shared commitment to meeting the increasing demand for low-carbon aluminium as [...]
Rio Tinto Chief Executive Jakob Stausholm said: "We built further momentum in our Pilbara iron ore business for the quarter, and now expect to deliver shipments in the upper half of our guidance range for the year. The ramp-up of the Oyu Tolgoi underground mine progressed ahead of plan, and we remain on track to more than triple its copper [...]
Rio Tinto and Sumitomo Corporation will build a first-of-a-kind hydrogen plant in Gladstone as part of a A$111.1 million program aimed at lowering carbon emissions from the alumina refining process. The Yarwun Hydrogen Calcination Pilot Demonstration Program received the green light after a A$32.1 million co-funding boost from the federal [...]
Western Australian businesses have so far been awarded contracts totalling A$1 billion as construction progresses at the Western Range mine in the Pilbara, a joint venture between Rio Tinto and China Baowu Steel Group Co. Ltd . These include: Civmec: awarded a contract valued at more than A$330 million for the construction of a new Run of Mine pad [...]
Rio Tinto is investing in its Kennecott operation near Salt Lake City, Utah, to strengthen its supply of copper in the United States by increasing production from underground mining and improving the health of key assets. $498 million1 of funding has been approved to deliver underground development and infrastructure for an area known as the North [...]
Rio Tinto will partner with Gemco Rail to bring local iron ore rail car manufacturing and bearing maintenance to the Pilbara region in an industry-first. This partnership will enable Gemco Rail to expand its existing operations to establish the first ever rail ore car manufacturing and maintenance facility in the Pilbara, creating new jobs [...]
Ivan Vella, Chief Executive, Aluminium, has accepted a new position outside of Rio Tinto and will leave in December 2023. He will continue to lead Aluminium while a robust process to identify his successor is undertaken but has stepped down from the Group's executive committee with immediate effect. Rio Tinto Chief Executive Jakob Stausholm said [...]
Rio Tinto will invest $1.1 billion to expand its state-of-the-art AP60 aluminium smelter equipped with low-carbon technology at Complexe Jonquière in Canada. The total investment includes up to $113 million of financial support from the Quebec government. This expansion, which will coincide with the gradual closure of potrooms at the Arvida smelter [...]
China Baowu, the world's biggest steelmaker, and Rio Tinto, the world's largest iron ore producer, have signed a Memorandum of Understanding to explore a range of industry leading new projects in China and Australia to help decarbonise the steel value chain. Under the MoU, China Baowu and Rio Tinto plan to jointly advance specific decarbonisation [...]
Rio Tinto has successfully completed the full transition of its heavy machinery from fossil diesel to renewable diesel at its Boron, California operation, making it the first open pit mine in the world to achieve this milestone. The change to renewable diesel brings an anticipated CO2 equivalent reduction of up to 45,000 tonnes per year, comparable [...]
