at the very Core of it all … is Content!
Share buy-back programme As announced on 8 February 2017, Rio Tinto plc and Rio Tinto Limited (“Rio Tinto” or the “Company”) is conducting a $500 million share buy-back programme to repurchase Rio Tinto plc’s ordinary shares of 10 pence each, which commenced on 1 March 2017 and will end not later than 31 December 2017 …
Rio Tinto today unveiled details of the $4 billion paid in taxes and royalties and the more than $35 billion direct economic contribution delivered to host communities in 2016. Rio Tinto chief financial officer Chris Lynch said “Rio Tinto is a major contributor to society and we are proud of the economic activity and wealth …
Rio Tinto has decided to gift the Bunder diamond project in India to the Government of Madhya Pradesh after a comprehensive review. In August 2016, Rio Tinto announced it would not proceed with the development of Bunder due to commercial considerations and would be seeking to close all project infrastructure. Under a Government of Madhya …
Rio Tinto has reached a binding agreement for the sale of its wholly-owned Australian subsidiary Coal & Allied Industries Limited to Yancoal Australia Limited for up to $2.45 billion comprising: An initial $1.95 billion cash payment, payable at completion; and $500 million in aggregate deferred cash payments, payable as annual instalments of $100 million over …
Rio Tinto has committed to generating $5 billion of additional free cash flow over the next five years from a productivity drive unveiled today as part of its long-term strategy. In a presentation at an investor seminar in Sydney, Rio Tinto chief executive J-S Jacques underlined the strategy centred around a strong focus on safety, …
Rio Tinto has reached an agreement to sell its assets at Lochaber, Scotland to SIMEC for consideration totalling $410 million (£330 million). The sale purchase agreement comprises the sale of Rio Tinto’s 100 per cent shareholding in Alcan Aluminium UK Limited which includes the operating smelter, the hydroelectric facilities at Kinlochleven and Lochaber as well …
On 29 August 2016, Rio Tinto became aware of email correspondence from 2011 relating to contractual payments totalling US$10.5 million made to a consultant providing advisory services on the Simandou project in Guinea. The company launched an investigation into the matter led by external counsel. Based on the investigation to date, Rio Tinto has today …
Rio Tinto and Chinalco have signed a non-binding agreement to sell Rio Tinto’s entire stake in the Simandou project in Guinea to Chinalco. The Heads of Agreement sets out the proposed principal terms of the sale with the aim of signing a binding agreement within six months. Rio Tinto will receive payments of $1.1-1.3 billion …
Rio Tinto has completed the sale of its 74 per cent of Zululand Anthracite Colliery (ZAC) to Menar Holding, for an undisclosed sum. ZAC, an underground mine in Zululand, South Africa, produces premium quality anthracite for international and domestic customers and has more than 1,300 employees and contractors. The remaining 26 per cent of ZAC …
Rio Tinto chief executive J-S Jacques said: “Rio Tinto has generated net cash from operating activities of $3.2 billion and reported underlying earnings of $1.6 billion, against a backdrop of continued volatility and lower commodity prices. “We focus on delivering value to shareholders. This focus is unrelenting, with further cost reductions achieved in the half …