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Encyclopedia > Rio Tinto Group
Rio Tinto
Type Public (ASX: RIO, LSE: RIO, NYSE: RTP)
Founded 1873
Headquarters London, England, UK
Key people Paul Skinner, Chairman
Tom Albanese, CEO
Guy Elliot, Finance Director
Industry Mining
Products Coal
Iron
Copper
Uranium
Gold
Diamonds
Revenue $25.440 billion (2006)
Operating income $8.974 billion (2006)
Net income $7.867 billion (2006)
Employees 32,000 (2004)
Slogan N/A
Website www.riotinto.com

Rio Tinto is a multinational mining and resources group founded originally in 1873. The group is one of the world's largest mining companies, with a pre-tax profit of approximately 10.2 billion US dollars in 2006 on consolidated turnover of 25.4 billion USD. Image File history File links File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... This article does not cite any references or sources. ... The Australian Securities Exchange (ASX) is the primary stock exchange in Australia. ... The Source by Greyworld, in the new LSE building Paternoster Square. ... The New York Stock Exchange (NYSE), nicknamed the Big Board, is a New York City-based stock exchange. ... 1873 (MDCCCLXXIII) was a common year starting on Wednesday (see link for calendar). ... This article is about the capital of England and the United Kingdom. ... For other uses, see England (disambiguation). ... Chuquicamata, the second largest open pit copper mine in the world, Chile. ... Coal Coal (IPA: ) is a fossil fuel formed in swamp ecosystems where plant remains were saved by water and mud from oxidization and biodegradation. ... For other uses, see Iron (disambiguation). ... Copper has played a significant part in the history of mankind, which has used the easily accessible uncompounded metal for nearly 10,000 years. ... General Name, symbol, number uranium, U, 92 Chemical series actinides Group, period, block n/a, 7, f Appearance silvery gray metallic; corrodes to a spalling black oxide coat in air Standard atomic weight 238. ... GOLD refers to one of the following: GOLD (IEEE) is an IEEE program designed to garner more student members at the university level (Graduates of the Last Decade). ... This article is about the mineral. ... Look up revenue in Wiktionary, the free dictionary. ... This article is about the type of currency. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... Earnings before interest and taxes (EBIT), also known as operating income and operating profit, is a term used to describe a companys earnings. ... This article is about the type of currency. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... Net income is equal to the income that a firm has after subtracting costs and expenses from the total revenue. ... This article is about the type of currency. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... This article is about work. ... Year 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... Look up slogan in Wiktionary, the free dictionary. ... A website (alternatively, Web site or web site) is a collection of Web pages, images, videos or other digital assets that is hosted on one or several Web server(s), usually accessible via the Internet, cell phone or a LAN. A Web page is a document, typically written in HTML... Chuquicamata, the second largest open pit copper mine in the world, Chile. ...


Since 1995, Rio Tinto has been a dual listed company. Rio Tinto Limited, formerly known as CRA, is listed on the Australian Securities Exchange, with Rio Tinto plc (formerly RTZ) listed on the London Stock Exchange as well as New York Stock Exchange (under ticker RTP). The two companies are managed as a single economic unit by a unified board, with a share in either company entitling the owner to the same voting rights and dividend payouts. RTZ shareholders made up 76.7% of the new unified entity, which is primarily managed from London. A dual-listed company or DLC is a corporate structure which involves two listed companies with different sets of shareholders sharing ownership of one set of operational businesses. ... The Australian Securities Exchange (ASX) is the primary stock exchange in Australia. ... The Source by Greyworld, in the new LSE building Paternoster Square. ... The New York Stock Exchange (NYSE), nicknamed the Big Board, is a New York City-based stock exchange. ...


Its current chief executive is Tom Albanese and the company board is chaired by Paul Skinner. Chief Executive may refer to: Chief Executive of Hong Kong Chief Executive of Macau Chief Executive Officer This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ...

Contents

History

Rio Tinto's origins are in southern Spain, at the site of an [ancient mine] [[1]] which supplied the Phoenicians, Ancient Greeks, Carthaginians and the Roman Empire. In 1873 N M Rothschild & Sons of London and de Rothschild Frères of Paris joined with other investors to acquire the Spanish government's money-losing Rio Tinto mines. The new owners restructured the company and turned it into a profitable business. By 1905, the Rothschild interest in Rio Tinto amounted to more than 30 percent. Alfred Milner, 1st Viscount Milner served as chairmen for a period before World War One. For other uses, see Roman Empire (disambiguation). ... N. M. Rothschild and Sons, or simply Rothschild, is the investment bank company of the Rothschild family. ... This article is about the capital of England and the United Kingdom. ... The Rothschild banking family of France was founded in 1812 in Paris by Jacob Mayer Rothschild (1792-1868). ... This article is about the capital of France. ... Lord Milner. ... Ypres, 1917, in the vicinity of the Battle of Passchendaele. ...


In 1962 the (British) Rio Tinto Company acquired a majority stake in Consolidated Zinc, an Australian company, and was renamed the Rio Tinto-Zinc Corporation (RTZ). The Australian company was renamed Conzinc Riotinto of Australia (CRA) but retained a separate corporate identity, with an increasing proportion of its shares being held by the Australian public.


The current dual listed company structure was created in 1995.


Rio Tinto is thought to be the first company listed on the ASX to have reached a share price of over $100. This is not true, the most famous case being the Poseidon bubble in 1969-70 when the discovery of nickel ore resulted in the Poseidon share price climbing from 80 cents to $280 before collapsing. The Poseidon bubble was a stock market bubble in which the price of Australian mining shares soared in late 1969, then crashed in early 1970. ...


Recently it has agreed to buy Canadian aluminium company Alcan Inc. for $38.1 billion, in a move that creates the world's biggest aluminium company. Rio will pay $101 per common share. Rio's bid had been unanimously recommended by Alcan's board, but remains subject to shareholder and regulator approval. Alcan's Chief Executive Dick Evans would lead the new division which would be renamed Rio Tinto Alcan and its headquarters situated in Montreal.[1] Alcan Inc. ... Nickname: Motto: Concordia Salus (well-being through harmony) Coordinates: , Country Province Region Montréal Founded 1642 Established 1832 Government  - Mayor Gérald Tremblay Area [1][2][3]  - City 365. ...


On November 8, 2007, rival mining company BHP Billiton announced it was seeking to purchase Rio Tinto Group in an all share deal. This offer was rejected by the board of Rio Tinto as it "significantly undervalues" the company. It is unknown if BHP Billiton will attempt to purchase Rio Tinto through some form of hostile takeover.This made Rio Tinto's share price soar to over $130.[2] is the 312th day of the year (313th in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st century. ... BHP Billiton is the worlds largest mining company. ... Hostile takeover can refer to: For the business usage see takeover. ...


Resources

The group produces a number of mineral commodities in its various divisions:


Iron ore

Rio Tinto wholly owns Hamersley Iron, which owns and operates a number of mines in Western Australia either wholly or jointly with several partners. Its partners on some projects notably include several Chinese corporations. This heap of iron ore pellets will be used in steel production. ... Hamersley Iron 20 class locomotive at 7 Mile Yard, Dampier, Western Australia. ... Slogan or Nickname: Wildflower State or the Golden State Other Australian states and territories Capital Perth Government Constitutional monarchy Governor Ken Michael Premier Alan Carpenter (ALP) Federal representation  - House seats 15  - Senate seats 12 Gross State Product (2005-06)  - Product ($m)  $107,910 (4th)  - Product per capita  $53,134/person...


Rio Tinto also owns 53% of Robe River Iron Associates and 59% of the Iron Ore Company of Canada. Iron made up 18% of revenue in 2003 and was responsible for 36% of the group's profit. It is the world's second-largest producer of iron ore. Future iron ore mines are being developed at Simandou in Guinea. Founded in 1949 from a partnership of Canadian and American interest (Hollinger, M.A. Hanna, Labrador Mining, National Republic, Armco, Youngston and Wheeling-Pittsburg), it is now owned by a new consortium (Mitshbishi Corp. ... Simandou is the site of a large iron ore deposit in southeastern Guinea, in the province of Nzérékoré. Proposals are under way in 2007 to build a heavy duty standard gauge railway and deepwater water to permit the export of large tonneages of iron ore. ...


Copper

The copper division not only produces copper itself, but also a considerable quantity of gold from its mines in Australia, Indonesia, South Africa, Chile, and the United States, some as part of joint ventures. The group owns Kennecott Utah Copper Corporation. The copper group was responsible for 23% of turnover (of which 55% was copper and most of the remainder gold) and 32% of profits in 2003. Copper has played a significant part in the history of mankind, which has used the easily accessible uncompounded metal for nearly 10,000 years. ... GOLD refers to one of the following: GOLD (IEEE) is an IEEE program designed to garner more student members at the university level (Graduates of the Last Decade). ... Kennecott Copper Corporation had its start when Enos A. Wall realized the potential of copper deposits in Bingham Canyon in Utah in 1887 and acquired claims to the land. ...


Energy

The company's energy group includes coal mining operations in Australia (Rio Tinto Coal Australia) and North America, and Energy Resources of Australia, which operates the Ranger Uranium Mine near Kakadu National Park in Australia. The energy group also operates the Rossing uranium mine in Namibia. This group contributed 20% of turnover and 11% of profit. Coal Coal (IPA: ) is a fossil fuel formed in swamp ecosystems where plant remains were saved by water and mud from oxidization and biodegradation. ... Rio Tinto Coal Australia (RTCA) is an Australian mining organisation, and is part of the Energy Group of Rio Tinto Group. ... Energy Resources of Australia Ltd (ASX: ERA) is a public company based in Australia. ... Ranger mine buildings The Ranger uranium mine is surrounded by Kakadu National Park, in the Northern Territory of Australia, 230 km east of Darwin. ... Kakadu National Park is in the Northern Territory of Australia, 171 km east of Darwin. ... The Rössing Uranium Mine is one of the largest open pit uranium mines in the world. ...


Industrial minerals

The Industrial minerals group extracts talc, titanium dioxide, salt, borax, amongst several others. These operations are scattered across Australia, the United States, and Africa. This group contributed 15% of turnover and 11% of earnings. Talc (derived from the Persian via Arabic talq) is a mineral composed of hydrated magnesium silicate with the chemical formula H2Mg3(SiO3)4 or Mg3Si4O10(OH)2. ... Titanium dioxide, also known as titanium(IV) oxide or titania, is the naturally occurring oxide of titanium, chemical formula TiO2. ... For other uses, see Salt (disambiguation). ... Borax from Persian burah. ... A world map showing the continent of Africa Africa is the worlds second-largest and second most-populous continent, after Asia. ...


Aluminium

Rio Tinto owns Comalco, which mines bauxite (aluminium ore) in Weipa, Queensland, operates alumina refineries in Gladstone, Queensland. It also operates two aluminium smelters in Australia at Bell Bay (Tasmania) and Boyne Island (Queensland, 59% interest), and one in New Zealand at Tiwai Point (79% interest). The group also operates the Anglesey Aluminium smelter at Holyhead in the United Kingdom. This group contributed 16% of turnover and 14% of adjusted earnings. Aluminum redirects here. ... Comalco (now called Rio Tinto Aluminium) is the worlds eighth largest aluminium company. ... Bauxite with penny Bauxite with core of unweathered rock Bauxite is an aluminium ore. ... Weipa (12°36′S 141°58′E), a town on the Gulf of Carpentaria coast on Cape York Peninsula in Queensland, Australia, is a mining town of approximately 3,000 people that exists because of the enormous bauxite deposits along the coast. ... Slogan or Nickname: Sunshine State, Smart State Motto(s): Audax at Fidelis (Bold but Faithful) Other Australian states and territories Capital Brisbane Government Constitutional monarchy Governor Quentin Bryce Premier Anna Bligh (ALP) Federal representation  - House seats 28  - Senate seats 12 Gross State Product (2004-05)  - Product ($m)  $158,506 (3rd... For other uses, see Gladstone (disambiguation). ... Slogan or Nickname: Island of Inspiration; The Apple Isle; Holiday Isle Motto(s): Ubertas et Fidelitas (Fertility and Faithfulness) Other Australian states and territories Capital Hobart Government Constitutional monarchy Governor William Cox Premier Paul Lennon (ALP) Federal representation  - House seats 5  - Senate seats 12 Gross State Product (2004-05)  - Product... Boyne Island is a town in Queensland, Australia, 25 km south of Gladstone. ... Tiwai Point Aluminium Smelter as seen from the top of Bluff Hill Location of Tiwai Point Tiwai Point lies at the entrance to Bluff Harbour on the southern coast of the South Island of New Zealand. ... Anglesey Aluminium Metal Ltd. ... Holyhead (Welsh: Caergybi, the fort of St. ...


Diamonds

The company's diamond operations are best known for the pink diamonds produced at the Argyle diamond mine in Western Australia, which produces over 90% of the world's supply of these gems and around 30% of the world's annual production of all natural diamonds. The company also owns 60% of and manages the Diavik Diamond Mine in Canada's Northwest Territories, and the Murowa diamond mine in Zimbabwe. This article is about the mineral. ... Jewelers diamonds in groups of similar colors. ... The Argyle diamond mine (, ) is a diamond mine located in the north-east of Western Australia. ... The Diavik Diamond Mine is a very large diamond mine located in the Northwest Territories, about 300 km north of Yellowknife. ... For the former United States territory, see Northwest Territory. ... The Murowa diamond mine is a diamond mine located in south central Zimbabwe, about 40 kilometers from Zvishavane. ...


Other commodities

Rio Tinto owns the Borax company that produces borax and is famous for the "20 Mule Team" trademark which it shares with the Dial Corporation. The Pacific Coast Borax Company was founded in 1890 by the American borax magnate Francis Marion Smith. ... Borax from Persian burah. ... The Dial Corporation is a maker of personal care products based in Scottsdale, Arizona. ...


Rio Tinto also produces bauxite, gold, titanium, lead, zinc, cobalt, nickel and uranium.[3] Bauxite with penny Bauxite with core of unweathered rock Bauxite is an aluminium ore. ... GOLD refers to one of the following: GOLD (IEEE) is an IEEE program designed to garner more student members at the university level (Graduates of the Last Decade). ... General Name, symbol, number titanium, Ti, 22 Chemical series transition metals Group, period, block 4, 4, d Appearance silvery metallic Standard atomic weight 47. ... This article is about the metal. ... General Name, symbol, number zinc, Zn, 30 Chemical series transition metals Group, period, block 12, 4, d Appearance bluish pale gray Standard atomic weight 65. ... For other uses, see Cobalt (disambiguation). ... For other uses, see Nickel (disambiguation). ... General Name, symbol, number uranium, U, 92 Chemical series actinides Group, period, block n/a, 7, f Appearance silvery gray metallic; corrodes to a spalling black oxide coat in air Standard atomic weight 238. ...


Technology

The company also has a technology group conducting research and development, notably including the HIsmelt iron smelting process, and an exploration group. By the mid 20th century humans had achieved a mastery of technology sufficient to leave the surface of the Earth for the first time and explore space. ... The phrase research and development (also R and D or, more often, R&D), according to the Organization of Economic Cooperation and Development, refers to creative work undertaken on a systematic basis in order to increase the stock of knowledge, including knowledge of man, culture and society, and the use... Smelting rhymes with melting Electric phosphate smelting furnace in a TVA chemical plant (1942) Chemical reduction, or smelting, is a form of extractive metallurgy. ... Mineral exploration is the process undertaken by companies, partnerships or corporations in the endeavour of finding ore (commercially viable concentrations of minerals) to mine. ...


Criticisms

Environmental, political, safety and labour rights concerns have been raised against Rio Tinto by both environmental groups and unions, in particular the Construction, Forestry, Mining and Energy Union (CFMEU). The CFMEU ran a campaign against the company which tried to de-unionise its workforce after the introduction of the Howard Government's Workplace Relations Act 1996. The Construction, Forestry, Mining and Energy Union (CFMEU) is Australias main trade union in construction, forestry and furnishing products, mining and energy production. ...


Another has been Rio Tinto's involvement in Papua New Guinea which triggered the Bougainville separatist crisis.[4] While RTZ has put a lot of energy into cleaning up its tainted human-rights image from the aftermath of crises like the above, many critics feel the company has not substantially changed.[5] Bougainville is a province of Papua New Guinea. ...


Rio Tinto has also won an award for ethicial behaviour, the Worldaware Award for Sustainable development.[6] However, although this award was decided by an independent committee, it was, like some other WorldAware Awards, sponsored by another multinational corporation (in this case, the sponsor was Tate and Lyle). Rio Tinto has, in turn, sponsored its own WorldAware award, the Rio Tinto Award for Long-term Commitment,[7] which was awarded to a variety of local and multinational players including in 1999 to Shell Pakistan. Tate & Lyle PLC is a UK based multinational food manufacturer and is listed on the London Stock Exchange under the symbol TATE. It is a major producer of refined sugar, starches, animal feed and other food ingredients. ...


References

  1. ^ Rio Tinto, Alcan reach US$38.1-billion merger deal (English). CTV.ca (2007). Retrieved on 2007-08-08.
  2. ^ "BHP makes £120bn Rio bid approach", BBC News Online, BBC, 2007-11-08. Retrieved on 2007-11-08. 
  3. ^ Company profile
  4. ^ See Lea, David (1999) Corporate and Public Responsibility, Stakeholder Theory and the Developing World, Business Ethics: A European Review, 8 (3): 151-162.
  5. ^ http://www.decoin.org
  6. ^ http://www.worldaware.org.uk/awards/awards1993/riotinto.html
  7. ^ http://www.worldaware.org.uk/awards/awards1999/shell.html

Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st century. ... is the 220th day of the year (221st in leap years) in the Gregorian calendar. ... For other uses, see BBC (disambiguation). ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st century. ... is the 312th day of the year (313th in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st century. ... is the 312th day of the year (313th in leap years) in the Gregorian calendar. ...

External links


  Results from FactBites:
 
EngineerJobs.com (685 words)
Greens Creek is part of the Rio Tinto Group, a world leader in finding, mining and processing the earth's mineral resources in an economically, socially, and environmentally responsible manner.
Rio Tinto is the largest diversified mining company in North America and is a global leader in finding, mining and processing the earth’s mineral resources.
Rio Tinto’s worldwide operations supply a broad range of minerals and metals including aluminum, copper, diamonds and gold, energy products (coal and uranium), industrial minerals (borates, titanium dioxide, salt, talc, and zircon), and iron ore. Rio Tinto Group companies are present in more than 40 countries worldwide and employ about 35,000 people.
deseretnews.com | Rio Tinto to buy back shares (432 words)
Rio Tinto Group, which posted record profit in three consecutive periods, plans to return another $3 billion to investors because of the cash generated by surging prices for iron ore, coal and other commodities.
Rio "has the capacity" to return another $6 billion to investors, since it would leave its net debt-to-equity ratio at a "normal" 30 percent, Paul Galloway and Grant Sporre, London-based analysts at UBS AG, wrote in a report Friday.
Rio is the second-largest producer of iron ore, which has risen to a record this year.
  More results at FactBites »


 

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