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Rio Tinto PLC (RIO.N)

RIO.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Rio Tinto says qtrly Pilbara iron ore shipments rose 6 pct
Monday, 16 Oct 2017 05:20pm EDT 

Oct 17 (Reuters) - Rio Tinto Ltd ::Qtrly Pilbara iron ore shipments (100 percent basis) ‍85.8​ mt versus 80.9 mt a year ago.Qtrly mined copper production ‍120.6​ kt versus 133.3 kt a year ago.Qtrly Pilbara iron ore production (100 percent basis) ‍85.0​ mt versus 83.2 mt a year ago.Qtrly aluminium production ‍887​ kt versus 924 kt a year ago.‍Rio Tinto's expected share of mined copper production for 2017 is revised to between 460 and 480 thousand tonnes​.‍Rio Tinto's expected Pilbara shipments in 2017, subject to weather, remain unchanged at around 330 million tonnes on a 100 per cent basis​.‍"Rio Tinto's share of production in 2017 is revised to between 50 and 51 million tonnes of bauxite (previously 48 to 50 million tonnes)"​.  Full Article

Rio Tinto in talks to sell Australasian aluminium assets to GFG Alliance - FT
Monday, 16 Oct 2017 10:33am EDT 

Oct 16 (Reuters) - :Rio Tinto in talks to sell Australasian aluminium assets to GFG Alliance - FT, citing sources‍​.  Full Article

Rio Tinto ‍adopts global paid parental leave standard, starting with U.S. operations​
Thursday, 21 Sep 2017 12:23pm EDT 

Sept 21 (Reuters) - Rio Tinto Ltd ::Rio Tinto PLC says ‍adopts global paid parental leave standard, starting with U.S. operations​.Will implement a new global minimum standard for paid parental leave for all employees​.New global minimum standard provides 18 weeks of paid parental leave at full pay following birth or adoption of a child to all employees​.‍18 weeks leave will be granted to an employee designated as child's primary caregiver; it is not gender specific​.  Full Article

Rio Tinto to commence additional $2.5 billion share buy-back
Thursday, 21 Sep 2017 12:00pm EDT 

Sept 21 (Reuters) - Rio Tinto Plc ::RIO TINTO - TO COMMENCE ADDITIONAL $2.5 BILLION SHARE BUY-BACK PROGRAMME, RETURNING PROCEEDS OF SALE OF COAL & ALLIED TO ITS SHAREHOLDERS​.RIO TINTO - ‍CAPITAL RETURN PROGRAMME WILL BE EXECUTED THROUGH A COMBINATION OF AN OFF-MARKET BUY-BACK TENDER, TARGETING A$700 MILLION OF CO SHARES​.NEW ON-MARKET PURCHASES BY RIO TINTO PLC WILL COMMENCE ON 27 DECEMBER 2017 AND WILL BE COMPLETED NO LATER THAN 31 DECEMBER 2018.RIO TINTO - ‍BALANCE OF $1.9 BILLION OF ADDITIONAL FUNDS BEING ALLOCATED TO RIO TINTO'S EXISTING ON- MARKET PURCHASES OF CO ORDINARY SHARES OF 10P EACH​.MAXIMUM NUMBER OF SHARES THAT MAY BE PURCHASED BY RIO TINTO PLC UNDER PROGRAMME IS 100 MILLION.  Full Article

Rio Tinto finance boss Chris Lynch to retire by end of September 2018
Friday, 15 Sep 2017 10:15am EDT 

Sept 15 (Reuters) - RIO TINTO PLC ::‍CHRIS LYNCH TO RETIRE AS RIO TINTO CHIEF FINANCIAL OFFICER​.‍RIO TINTO CHIEF FINANCIAL OFFICER CHRIS LYNCH HAS INFORMED BOARD THAT HE INTENDS TO RETIRE FROM HIS ROLE BY END OF SEPTEMBER 2018​.‍PLANNING FOR CHIEF FINANCIAL OFFICER SUCCESSION HAS BEEN IN PROGRESS AND A REPLACEMENT WILL BE ANNOUNCED IN DUE COURSE​.  Full Article

Rio Tinto posts HY underlying earnings of $3.94 bln vs $1.56 bln last year
Wednesday, 2 Aug 2017 02:15am EDT 

Aug 2 (Reuters) - Rio Tinto Ltd :HY underlying earnings $ 3,941 million versus $1,563 million a year ago.HY net earnings $3,305 million versus $1,713 million a year ago.HY sales revenues of $19.3 billion, $3.8 billion higher than 2016 first half.Declared interim dividend of 110 us cents per share, equivalent to $2.0 billion.Capital expenditure expected to remain at around $5.0 billion in 2017 and around $5.5 billion in each of 2018 and 2019.As at HY reduced net debt by $2.0 billion to $7.6 billion."Production guidance is unchanged from Q2 operations review".Says an increased share buy-back of $1.0 billion in Rio Tinto plc shares by end of 2017..Effective tax rate on underlying earnings of approximately 30 per cent expected in 2017.Heavy rainfall in Australia impacted volumes for iron ore and coking coal, while lower head grades at Oyu Tolgoi led to reduced copper volumes."Expects total cash returns to shareholders over longer term to be in range of 40 to 60 percent of underlying earnings in aggregate through cycle".Achieved $8.2 billion pre-tax in total operating cash cost improvements and reductions in exploration and evaluation expenditure compared with 2012 base.Expects total cash returns to shareholders over longer term to be in a range of 40 to 60 per cent of underlying earnings in aggregate through cycle.Expects Rio Tinto Limited to be in a position to pay fully franked dividends for foreseeable future.  Full Article

Rio Tinto signs MOU with Serbian government
Monday, 24 Jul 2017 07:35am EDT 

July 24 (Reuters) - RIO TINTO LTD ::SIGNED MEMORANDUM OF UNDERSTANDING WITH GOVERNMENT OF SERBIA IN RESPECT TO IMPLEMENTATION OF JADAR PROJECT.MOU TO ENABLE FORMATION OF JOINT WORKING GROUPS BETWEEN GOVERNMENT, CO TO PROGRESS JADAR PROJECT THROUGH STUDY AND PERMITTING PHASES, AS PER LAW.PROJECT IS CURRENTLY IN MIDDLE STUDY STAGES WITH OPERATION EXPECTED TO COMMENCE IN 2023.  Full Article

Rio Tinto says Ann Godbehere appointed as senior independent director
Monday, 26 Jun 2017 06:15am EDT 

June 26 (Reuters) - Rio Tinto Plc ::Ann Godbehere has been appointed as senior independent director.Ann Godbehere will lead process underway to appoint a new chairman to succeed Jan du Plessis.Simon Thompson has been appointed chair of remuneration committee.All of these appointments are with immediate effect.  Full Article

Rio Tinto confirms Yancoal as preferred buyer for coal assets
Monday, 26 Jun 2017 05:14am EDT 

June 26 (Reuters) - Rio Tinto Plc ::Confirms Yancoal as preferred buyer of its thermal coal assets in Australia given high level of completion certainty and a further improved offer of $2.69 billion."Revised offer from Yancoal of $2.69 billion offers compelling value to our shareholders for our Australian thermal coal assets"- Rio Tinto CEO.Yancoal's most recent offer includes increased break fee amount provided by Yancoal's parent company, Yankuang, from $100 million to $225 million."Believe it is in best interests of our shareholders to take greater certainty of Yancoal's strong proposal"- Rio Tinto CEO.Board considered both of latest offers; recommending Yancoal's improved offer to shareholders.  Full Article

Rio Tinto says gets Glencore proposal, to respond in due course
Monday, 12 Jun 2017 02:00am EDT 

June 12 (Reuters) - Rio Tinto Plc::‍Rio Tinto board and management will give proposal appropriate consideration and respond in due course​.Acknowledges has received proposal from Glencore to acquire rio tinto's wholly-owned australian unit , Coal & Allied Industries Limited​.  Full Article

RPT-Rio Tinto, former top executives, charged with fraud -U.S. SEC

WASHINGTON, Oct 17 The U.S. Securities and Exchange Commission said it charged mining company Rio Tinto Plc and two of its former top executives on Tuesday with fraud for inflating the value of coal assets acquired for $3.7 billion and sold a few years later for $50 million.