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Rio Tinto PLC (RIO)

RIO on New York Consolidated

41.15USD
9 Dec 2016
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Latest Key Developments (Source: Significant Developments)

Rio Tinto approves development of Silvergrass mine
Tuesday, 2 Aug 2016 06:49am EDT 

Rio Tinto Plc : Rio Tinto approves development of Silvergrass mine . Expected internal rate of return for this investment well in excess of 100 per cent and a pay back of less than three years . As anticipated in previous guidance, this Silvergrass investment adds 10 million tonnes of capacity . Final stage of Silvergrass development is subject to obtaining necessary approvals from west australian government. . Will invest an incremental $338 million to complete development of Silvergrass mine in its world-class Pilbara iron ore operations in Western Australia . Key element in maintaining Rio Tinto's premium Pilbara blend, and also delivers incremental tonnage and lower unit costs. . Final stage of Silvergrass development is subject to obtaining necessary approvals from West Australian government .Investment will lower mine operating costs by replacing road haulage with a more efficient conveyor system.  Full Article

Rio Tinto says qtrly Pilbara iron ore shipments 82.2 mt
Monday, 18 Jul 2016 06:30pm EDT 

Rio Tinto Ltd : Rio Tinto releases second quarter production results . Q2 aluminium production 911 kt, +11% . Qtrly mined copper production 141.0 kt, +5% . Qtrly pilbara iron ore shipments (100% basis) 82.2 mt, +6% . For iron ore, rio tinto's expected pilbara iron ore shipments in 2016 are around 330 million tonnes (100 per cent basis), subject to weather conditions . 2016 expected share of production remains unchanged at 45 million tonnes of bauxite, 7.8 million tonnes of alumina and 3.6 million tonnes of aluminium . In 2016, Rio Tinto continues to expect its share of mined copper production to be between 575 and 625 thousand tonnes . Qtrly pilbara iron ore production (100% basis) 80.9 mt, up 8 percent . FY refined copper production is also unchanged at 220 to 250 thousand tonnes .  Full Article

Rio Tinto transferred its 53.8 pct shareholding in Bougainville Copper
Wednesday, 29 Jun 2016 07:42pm EDT 

Rio Tinto Ltd : ABG and PNG will both hold an equal share in BCL of 36.4 per cent if the transfers are completed . Says Rio Tinto has today transferred its 53.8 per cent shareholding in Bougainville Copper Limited (BCL) to an independent trustee . ABG to receive 68 per cent of rio tinto's shareholding from the independent trustee for no consideration . Under the trust deed PNG is entitled to the remaining 32 per cent . BCL chairman peter Taylor will resign with immediate effect . Although Rio Tinto will no longer hold any interest in BCL, Rio Tinto will continue to meet its obligations under agreement during the period .  Full Article

Savannah and Rio Tinto extend joint venture long stop date
Wednesday, 29 Jun 2016 02:00am EDT 

Savannah Resources Plc :Rio Tinto and Savannah Co agreed to extend long stop date for fulfillment of conditions precedent of joint venture until Sept. 30..  Full Article

Rio Tinto paid $4.5 billion in taxes and royalties in 2015
Tuesday, 28 Jun 2016 06:26pm EDT 

Rio Tinto Ltd : Rio Tinto paid $4.5 billion in taxes and royalties in 2015 .Spent almost $18 bln buying goods and services from suppliers around world last year.  Full Article

Rio Tinto says to reduce gross debt by $3 billion
Tuesday, 21 Jun 2016 05:52am EDT 

Rio Tinto Plc : Rio tinto to reduce gross debt by $3 billion . Will reduce its gross debt after accepting for purchase $1.252 billion of debt under its maximum tender offer and $1.748 billion under any and all offer . Final aggregate principal amount of securities purchased under any and all offer that expired on 13 June 2016 was $1.748 billion .Both offers commenced on 7 June 2016 and are part of rio tinto's ongoing capital management..  Full Article

Rio Tinto announces executive team reshuffle, new structure
Tuesday, 21 Jun 2016 02:58am EDT 

Rio Tinto Plc : New organisational structure and executive team . Alfredo Barrios will remain as chief executive, of aluminium based in Montreal. . Chris Salisbury, currently acting copper & coal chief executive, will become iron ore chief executive based in Perth. . Arnaud Soirat will join executive committee as copper & diamonds chief executive . Energy & minerals re-shapes Alan Davies' portfolio, bringing together Co's coal, uranium, salt, borates, titanium dioxide, as well as iron ore co of Canada . Stephen McIntosh will take up role of growth & innovation group executive, based in Brisbane . Accountability for safety as a discrete unit will sit with an executive committee member for first time. . Joanne Farrell will take on role of group executive, health, safety & environment based in Perth .Andrew Harding, currently iron ore chief executive, will leave business with effect from July 1 2016..  Full Article

Rio Tinto to purchase $1.747 billion debt under Any and All Offer
Tuesday, 14 Jun 2016 04:13am EDT 

Rio Tinto Ltd : Rio Tinto to purchase $1.747 billion debt . $804 million in aggregate principal amount of 2.250 percent notes due 2018 will be purchased at a price of $1,024.36 per $1,000 principal amount of notes . $943 million in aggregate principal amount of 6.500 per cent notes due 2018 will be purchased at price of $1,108.33 per $1,000 principal amount of notes . Says the settlement date for the Any And All Offer will be 14 June 2016 .  Full Article

Rio Tinto launches new cash tender offers for up to $3 bln
Tuesday, 7 Jun 2016 08:22am EDT 

: Rio Tinto Plc says offer for any and all securities will expire on 13 June 2016 , unless extended .Rio Tinto launches new cash tender offers for up to $3 billion of its 2018, 2020, 2021 and 2022 notes.  Full Article

Rio Tinto appoints Stephen Mcintosh acting group executive, technology & innovation
Tuesday, 24 May 2016 03:07am EDT 

Rio Tinto Plc : Statement re senior management changes . Has appointed stephen mcintosh as acting group executive, technology & innovation to succeed greg lilleyman, who will leave company after 25 years of service .Stephen will join rio tinto executive committee with immediate effect and retain exploration portfolio.  Full Article

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Companies need to work harder to gain societies' trust-Rio chairman

LONDON Multinational companies need to do more to gain the trust of wider society, including better explaining why top executives are so highly rewarded in comparison to workers, the chairman of global miner Rio Tinto told British lawmakers.