• Mon
  • Dec 22, 2014
  • Updated: 10:27am

Rio Tinto Group

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 Tinto says iron ore output jumps as prices in China recover

Sam Walsh says Rio Tinto’s focus on long-life, low-cost assets will allow the firm to continue to generate strong cash flows despite a lower-price environment. Photo: Bloomberg

The world’s No 2 iron ore miner Rio Tinto said a strong third quarter and productivity gains led to a 12 per cent rise in iron ore production as price volatility persists in the global market.

Wednesday, 15 October, 2014, 1:25pm

Rio Tinto likely to name Mongolian to head Oyu Tolgoi: sources

Appointing a Mongolian to run the US$6.2 billion Oyu Tolgoi copper and gold mine might help Rio Tinto improve relations with the government. Photo: SCMP

Rio Tinto is likely to appoint a Mongolian to head its US$6.2 billion Oyu Tolgoi copper and gold mine as the company looks to patch up ties with the government amid disputes over costs and management at Mongolia’s biggest project.

30 Jul 2013 - 3:33pm

Rio Tinto may halt work at mine in protest at Mongolian demands

Rio Tinto's mine will be worth a third of Mongolian GDP. Photo: AFP

Rio Tinto Group, based in London and the second-biggest mining company in the world, is discussing the suspension of building to protest at Mongolia's demands for a bigger stake in the project and new mining royalty rates, the sources said.

1 Feb 2013 - 5:23am

Rio chief Albanese exits over failed deals

Rio Tinto sacked chief executive Tom Albanese. Photo: Reuters

Rio Tinto Group, the second-biggest mining company, will take about US$14 billion of write-downs for failed deals in aluminium and coal led by chief executive Tom Albanese, who will leave after more than 30 years.

18 Jan 2013 - 5:27am

Rating agency S&P says no respite for iron ore miners

Rating agency Standard & Poor's does not expect any relief for iron ore prices, possibly bringing pressure to bear on smaller producers. Photo: AFP

Global credit agency Standard & Poor’s said it saw little improvement in iron ore prices in the near-term and warned that smaller single-commodity miners could see their ratings slip.

2 Oct 2012 - 2:14pm

Mongolian contract hangs on size of upfront payment

International miners competing to develop a vast, untapped coal deposit in Mongolia are being selected based on how much money they will pay the poor nation's cash-strapped government to clinch the contract.

28 Dec 2010 - 12:00am

Beijing's outside hires must relish a challenge

Bosses brought in from outside a company are generally regarded as having a poor record for making a good business great or turning a troubled one around. It is therefore interesting to see Beijing headhunting abroad, as well as at home, for senior positions in state-owned firms.

5 Sep 2010 - 12:00am

Stern who? Rio's China relations move on

You get the impression that Stern Hu is one name that Rio Tinto chief executive Tom Albanese never wants to hear again.

At a press briefing in Shanghai he was reluctant to talk about the former head of Rio's China operations who was jailed earlier this year for accepting bribes and stealing trade secrets.

21 Aug 2010 - 12:00am

Hung out to dry

Judgment has been reached in the Rio Tinto case, with all four defendants predictably found guilty on charges of bribery and theft of commercial secrets. However, the impact on business in China is likely to be considerable - and not for the most often-cited reasons.

7 Apr 2010 - 12:00am

Rio Tinto duo appeal against bribery and theft convictions

Two of the four Rio Tinto employees jailed by a Shanghai court last week after a closed-door trial are appealing against their convictions for accepting bribes and theft of commercial secrets.

5 Apr 2010 - 12:00am

Sham trial does more harm than good, again

Beijing could have used the trial of Australian mining executive Stern Hu and three Chinese colleagues to prove its pledges of legal reform were genuine. Instead, the manner in which it was conducted shows fundamental flaws remain. Like countless previous cases, the process has been a sham.

30 Mar 2010 - 12:00am

Rio Tinto debacle exposes flaws of legal system

Beijing is justifiably proud of its economic achievements. The government can point to surging vehicle sales, mammoth infrastructure projects and ritzy shopping malls as evidence of progress. But the arrest in Shanghai of Australian mining executive Stern Hu and three mainland colleagues raises another facet of the nation's development.

14 Jul 2009 - 12:00am

Valin gets 17.4pc Fortescue stake while Minmetals revises OZ bid

Hunan Valin Iron & Steel has received Australian government approval to take a 17.4 per cent stake in Fortescue Metals Group while China Minmetals Corp has submitted a revised offer for OZ Minerals after Canberra objected to the original deal.

1 Apr 2009 - 12:00am

Lai See

Chinalco's love for Rio written in stars, but will romance last?

Can it just be coincidence that Chinalco's infatuation with Rio Tinto seems to coincide with Valentine's Day?

It was around this time last year that Chinalco teamed up with fellow aluminium giant Alcoa to buy a 9 per cent stake in the world's third-largest miner for US$14 billion.

14 Feb 2009 - 12:00am

Chinalco seeks to retrieve Lehman-held Rio shares

Aluminum Corp of China (Chinalco) is reportedly negotiating with liquidators of the collapsed investment bank Lehman Brothers Holdings to retrieve multibillion US dollars worth of shares in Australian mining major Rio Tinto.

17 Oct 2008 - 12:00am

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