• Sun
  • Dec 21, 2014
  • Updated: 12:17pm

Rio Tinto

Rio Tinto Group is a British-Australian mining group with its headquarters in London, and a management office in Melbourne. Founded in 1873, the group has grown to become one of the world’s leading producers of a range of commodities, including aluminium, iron ore, copper, uranium, coal, and diamonds. The company has operations on six continents but is mainly concentrated in Australia and Canada, and owns gross assets valued at US$81 billion.

Rio cost cuts bolster payout prospects

Sam Walsh

Rio Tinto chief executive Sam Walsh is charting a course to potentially bolster cash returns to investors in the world's second-biggest mining company after cutting US$2 billion of costs ahead of schedule.

Friday, 20 December, 2013, 2:58am

Rio Tinto to halve capital spending over next 2 years

Rio said it was on track to meet its US$2 billion cost-cutting target for this year. Photo: AFP

Rio Tinto, the world's second-biggest mining company, will cut capital spending to about US$8 billion in 2015, less than half its outlay last year, as mineral producers conserve cash in the wake of falling prices.

4 Dec 2013 - 4:18am

Miners shift focus to stay in game

Rio says it is also on track to ramp up annual iron ore production to 290 million tonnes by the first half of next year. Photo: Bloomberg

The latest production reports by Anglo-Australian mining giants BHP Billiton and Rio Tinto show just how much the commodity market has changed over the past year.

25 Oct 2013 - 3:23am

Rio Tinto sees output rising after strong quarter

Rio Tinto sees output rising after strong quarter

Rio Tinto has boosted its copper output forecast for this year after a better-than-expected recovery at its landslide-hit Kennecott mine in the United States, and announced record iron ore and coal output in the third quarter.

16 Oct 2013 - 3:05am

Rise of the robots

Rise of the robots

Train drivers employed by Rio Tinto to haul iron ore across Australia's Outback make about the same money as surgeons in the United States. It is little wonder the mining company will replace them with robot locomotives.

4 Oct 2013 - 3:04am

Rio Tinto’s giant Mongolian mine gets new chief executive

Rio Tinto put a US$5 billion expansion at Oyu Tolgoi on hold because of a dispute on financing the project. Photo: AFP

The top copper marketing executive at Rio Tinto will take over as the head of Oyu Tolgoi, the giant Mongolian copper and gold mine controlled by Rio Tinto, Oyu Tolgoi said.

Oyu Tolgoi’s board, including three new Mongolian members, approved the appointment of Craig Kinnell as president and chief executive, replacing Cameron McRae from October 1. McRae is leaving Rio Tinto.

12 Sep 2013 - 8:58am

Mongolian mine sacks 1,700 amid funding row

Oyu Tolgoi mine in Mongolia. Photo: Reuters

As many as 1,700 workers at Rio Tinto's US$6.6 billion Oyu Tolgoi copper and gold mining project in Mongolia, where shipments began last month, have been laid off amid a financing dispute.

16 Aug 2013 - 3:58am

China mulls Guinea rail project funding

China mulls Guinea rail project funding

China has begun looking at funding a railway and port that would service Rio Tinto's Simandou iron project in Guinea and cost more than US$10 billion, said four people with direct knowledge of the matter.

14 Aug 2013 - 3:45am

Mongolia to Rio Tinto: fund Oyu Tolgoi mine expansion with cash flow

Workers' accommodation at the Oyu Tolgoi mine.Photo: Reuters

Mongolia wants the planned US$5.1 billion expansion of Rio Tinto's Oyu Tolgoi mine to be financed from cash flow until a dispute over the cost of the biggest foreign investment in the country is resolved.

13 Aug 2013 - 3:15am

Rio Tinto sells copper mine to Chinese firm

The 80 per cent stake in Northparkes is one of several assets Rio has put up for sale recently. Photo: AFP

China Molybdenum, the nation's second-biggest producer of the steelmaking material, has agreed to pay US$820 million for Rio Tinto's Northparkes copper mine in Australia.

30 Jul 2013 - 4:49am

Rio’s Oyu Tolgoi mine to start copper exports on July 9 -Mongolia

Rio Tinto has declined to comment on whether the US$6.2 billion (HK$48.1 billion) Oyu Tolgoi mine will start operations on Tuesday. Photo: Reuters

Rio Tinto will start exporting copper from the US$6.2 billion (HK$48.1 billion) Oyu Tolgoi mine in Mongolia on Tuesday, the Mongolian government said, but it was not clear if the miner would be able to repatriate sales revenue from the mine.

8 Jul 2013 - 2:48pm

Rio’s Oyu Tolgoi mine to start copper exports on July 9 -Mongolia

Rio Tinto has declined to comment on whether the US$6.2 billion (HK$48.1 billion) Oyu Tolgoi mine will start operations on Tuesday. Photo: Reuters

Rio Tinto will start exporting copper from the US$6.2 billion (HK$48.1 billion) Oyu Tolgoi mine in Mongolia on Tuesday, the Mongolian government said, but it was not clear if the miner would be able to repatriate sales revenue from the mine.

8 Jul 2013 - 2:48pm

Australia sees iron ore exports rising, even as demand falters

Australia expects iron ore exports to rise this year despite slowing growth in China. Photo: Reuters

Australia, the world’s biggest producer of iron ore, forecast a 14 per cent rise in exports in the this year/14 fiscal year as the country’s big miners press ahead with multi-billion dollar expansions despite signs demand growth is softening.

Slower than expected economic growth in China is forecast to weaken prices for iron ore, Australia’s largest export earner, further next year.

26 Jun 2013 - 11:04am

Rio Tinto decides to hang on to diamonds business

Argyle Pink Diamonds manager Josephine Johnson inspects the biggest 'red' diamond ever produced by mining giant Rio Tinto's Australian mine. Photo: AFP

Global miner Rio Tinto Ltd has scrapped the planned sale of its diamonds business, valued in its books at US$1.3 billion (HK$10.1 billion), amid a slide in global financial markets and a tough environment for commodity asset sales.

24 Jun 2013 - 10:36am

Mongolia tells Rio Tinto to delay Oyu Tolgoi copper exports

By 2020, Oyu Tolgoi is expected to boost Mongolia’s economy by about a third. Photo: Reuters

Rio Tinto said its plan to start exporting copper from the US$6.2 billion (HK$48.1 billion) Oyu Tolgoi copper mine on Friday has been delayed at the request of the Mongolian government, ahead of a presidential election on June 26.

21 Jun 2013 - 10:45am

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