Rio Tinto Group
Rio Tinto Group
Full text is available to Level 2 subscribers only
Subscribe to Mining Business Media
Full access to Mining Business Media's unique blend of global mining sector news and commentary is available by subscription only.
$A275.00 per year*
(*up to 10 users)
GST included in Australia
Direct debit/cheque/credit card:
Click here
Subscription inquiries, email subscribe@miningbusiness.net or call 61+413 772 044.
Related Content
The rift between Energy Resources Australia and its 86% shareholder Rio Tinto has escalated into the announcement of the planned resignations of the uranium miner's chairman and two independent directors.
Chairman Peter Mansell and non-executive directors Paul Dowd and Shane Charles announced they could not continue to work with Rio.
Their departure leaves the company in the hands of Rio appointed directors Justin Carey, Jacques van Tonder and Rosemary Fagen.
The split between Rio Tinto and its 86%-owned subsidiary Energy Resources of Australia over the costs and progress of their rehabilitation of the Ranger uranium project in the NT has widened, with a call on ERA chairman Peter Mansell to resign.
Rio says a board renewal, starting with Mansell's departure, is needed to bring new perspectives to the giant task of restoring the environmentally sensitive site from the impacts of nearly 40 years of mining.
Global miner Rio Tinto has approved a $US55M investment for the first step towards significant underground development of the massive Kennecott copper mine in Utah, USA.
Rio has approved a $US55M investment to commence underground mining and expand production of the nearly 120-year-old mine.
First ore is expected in early 2023, leading to full production in H2.
START THE WEEK: WHAT YOU NEED TO KNOW
The partnership agreement between leading Australian iron ore producer Rio Tinto and state-owned steelmaker China Baowu Steel Group to develop the new $US2B Western Range project represents another key step in China's efforts to secure its long-term supply.
Baowu will hold a 46% stake in Western Range, which is expected to deliver 25Mtpa over about 13 years, which matches the interest it has held in the producing Eastern Range mine for over 20 years.
Rio Tinto has begun the next significant phase of investment in its Pilbara iron ore business in Western Australia with the launch of the $US2B Western Range mine development in a JV with long-time partner China Baowu.
Global major Rio Tinto has teamed again with state-owned conglomerate China Baowu Steel Group for the $US2B development of the 25Mtpa Western Range iron ore project in Western Australia’s Pilbara region.
Rio Tinto’s 54% JV interest will see it invest $1.3B in the project, with construction due to begin in early 2023 for first production in 2025.
Global miner Rio Tinto will contribute about $A0.5M to an initiative aiming to develop and manufacture advanced composite technology components that can replace structural steel on overland conveyor systems at its West Australian iron ore operations.
The joint development agreement with Matrix Composites & Engineering aims to create a corrosion-free and 100% recyclable product that is substantially lighter than steel, decreases handling risk and is more cost effective to transport.
Australian-based explorer Sipa Resources will review data from a detailed airborne EM-survey while restarting discussions with potential partners for its Akelikongo nickel-copper project in Uganda following the collapse of its planned sale to UK-listed Blencowe Resources.
The survey was undertaken to meet Blencowe’s commitment under its $4.25M cash-plus-shares deal in Feb 2022 to earn 100% interest in the project. Sipa resumes full ownership.
Rio Tinto has widened its copper-gold search in Western Australia's prospective Paterson Province with a $A3M farm-in agreement with junior explorer TechGen Metals over its Harbutt Range project.
Under the binding term sheet agreement, Rio Tinto can sole-fund exploration including 3,000m drilling within 5 years to earn 80% JV interest in leases prospective for copper-gold and sediment-hosted copper-lead-zinc-silver mineralisation.
(CORPORATE)
Independent directors of Turquoise Hill Resources have given their unanimous backing to a revised $3.3B bid that would result in Rio Tinto gaining a direct 66% stake in Mongolia’s Oyu Tolgoi copper-gold mine.