The deal with Mitsubishi is subject to various closing conditions, including approval from Australia's Foreign Investment Review Board. It is expected to close in the second half of 2024. Following the closure, Mitsubishi will not have any stake in the BSL joint venture. Rio Tinto (73.5%) will have a majority stake in the joint venture and the remaining will be held by YKK Aluminium (9.50%), UACJ Australia (9.29%) and Southern Cross Aluminium (7.71%). Price Performance The facility's activities include manu ...

Throughout the festival, the RIO units were strategically placed across key locations to enhance security coverage. The units operated flawlessly, providing continuous surveillance, monitoring for potential threats, and ensuring rapid response capabilities. The advanced AI technology embedded within the RIO units allowed for real-time analysis of crowd movement, immediate detection of any unusual activities, and swift communication with on-site security personnel law enforcement. Detroit, Michigan, June 10, ...

Rio Tinto (RIO) announced that it will invest $143 million to develop a research and development facility in Western Australia to test the effectiveness of its breakthrough low-carbon ironmaking process, BioIron. BioIron uses raw biomass material produced from agricultural by-products instead of metallurgical coal and is heated using a combination of gas released by the biomass and high-efficiency microwaves powered by renewable energy, which turns the iron ore into metallic iron. This process uses approxim ...

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sellside) analysts often affect a stock's price, do they really matter? Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Rio Tinto (RIO) . Rio Tinto currently has an average brokerage recommendat ...

VANCOUVER, BC, June 3, 2024 /PRNewswire/ -- One of the biggest threats to the ongoing energy transition is the world's ongoing copper shortage that's set to get worse. As demand for the red metal continues skyrocketing, the International Energy Agency (IEA) predicts that existing mines and projects under construction will meet only 80% of copper needs by 2030, which is concerning as opening a single copper mine typically takes 23 years. With the world's two most prolific copper producing countries coming fr ...

The trials will kick off in the second half of 2024 with two Cat 793 haul trucks. This will be followed by two Komatsu 930 haul trucks in 2026. BHP will trial the Caterpillar trucks, while Rio Tinto will test the Komatsu trucks. In 2021, Rio Tinto and BHP worked with both Caterpillar and Komatsu to support the development and validation of their prototype battery-electric haul trucks. The trucks included in the current trials are based on these prototypes. Both companies will conduct independent trials of t ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important? Let's take a look at what these Wall Street heavyweights have to say about Rio Tinto (RIO) before we discuss the reliability of brokerage recommendations and how to use them to your advantage. Rio Tinto currently has an average brokerage recommendation ( ...

Financial Performance - The company reported a significant increase in revenue, reaching $63 billion, representing a 15% year-over-year growth[19] - Consolidated sales revenue for 2023 was $54.0 billion, a decrease from $55.6 billion in 2022[40] - Profit after tax attributable to owners of Rio Tinto was $10.1 billion, representing a profit margin of 24.3%, up from 22.9% in 2022[40] - Underlying EBITDA for 2023 was $23.9 billion, down from $26.3 billion in 2022, reflecting a decrease of 28%[42] - The total profit after tax attributable to owners of the company was $10.1 billion, down from $12.4 billion in 2022[83] - The company declared a total dividend of $7.1 billion, a decrease from $8 billion in 2022, with a pay-out ratio of 60%[83] - Total dividend per share was 435 cents, down from 492 cents in 2022, indicating a reduction of 11.6%[43] - The company reported a net cash generated from operating activities of $15.2 billion, compared to $16.1 billion in 2022[40] Production and Operations - Iron Ore production was 330 million tons, a 5% increase compared to the previous year, contributing to overall performance[20] - The Aluminium segment generated $12 billion in revenue, up 10% from last year, driven by higher demand and pricing[20] - The company produced 1,111 kt of copper, an increase from 607 kt in 2022[55] - In 2023, the Safe Production System (SPS) delivered a production uplift of 5 million tonnes in Pilbara iron ore operations, with another 5 million tonnes expected in 2024[90] - The Oyu Tolgoi underground operation is on track to ramp up to 500,000 tonnes of copper per annum from 2028 to 2036[90] - The company has initiated a project to increase annual iron ore capacity at Gudai-Darri in Australia by 7 million tonnes to a total of 50 million tonnes at a cost of $70 million[206] Strategic Investments and Acquisitions - The company plans to invest $5 billion in new technology and product development over the next three years to enhance operational efficiency[22] - A new acquisition in the copper sector is expected to close by Q3 2024, valued at $1.5 billion, which will enhance resource capabilities[22] - An investment of $1.1 billion was announced to expand the AP60 smelter, replacing the Arvida smelter, and entering the North American market for recycled aluminium[92] - The company plans to invest $6.2 billion in the Simandou high-grade iron ore project in Guinea, with production expected to ramp up to 60 million dry tonnes annually starting in 2025[197] - A joint venture was formed with First Quantum Minerals to develop the La Granja project in Peru, one of the largest undeveloped copper deposits globally[199] Environmental and Sustainability Initiatives - The company aims to reduce carbon emissions by 30% by 2030 as part of its ESG strategy[20] - The company is committed to a 50% reduction in Scope 1 and 2 emissions by 2030 and achieving net zero by 2050[73] - The company is focusing on decarbonising operations and developing technologies to reduce greenhouse gas emissions, particularly in steel and aluminium production[39] - The BlueSmelting™ project aims to reduce greenhouse gas emissions by 95% compared to current processes, showcasing innovation in sustainable practices[38] - The BioIron™ technology, which has the potential to reduce CO2 emissions by more than 95% during steelmaking, is being developed and tested for larger scale production[125] - The company has lowered shipping emissions intensity by 37% relative to 2008[192] - In 2023, the company spent $425 million on decarbonisation, an increase from $299 million in 2022[190] - The company aims to achieve net zero processing emissions by 2050, with Scope 3 emissions recorded at 578 Mt CO2e in 2023[181] Market Expansion and Future Guidance - The company is expanding its market presence in Asia, targeting a 20% increase in sales in the region by 2025[20] - Future guidance indicates expected EBITDA of $20 billion for the next fiscal year, reflecting a 10% increase from the current year[22] Workforce and Community Engagement - The workforce has increased by 8% to support growth initiatives, totaling approximately 50,000 employees[24] - The company increased its spend with Indigenous businesses in Australia to A$725 million, up from A$565 million in 2022[41] - The company is exploring opportunities in renewable energy projects in partnership with Indigenous Peoples, enhancing community engagement[93] Safety Performance - The all-injury frequency rate improved to 0.37 in 2023 from 0.40 in 2022, indicating enhanced safety performance[40] - The company reported an all-injury frequency rate of 0.37, improved from 0.40 in 2022[81] - 2023年下半年，SPS站点的全伤害频率率(AIFR)改善了25%[132]

• Tightness has emerged in the physical copper concentrate markets, following mine disruptions • Reported refined inventories remain at multi-year lows, leaving little buffer for future market deficits CP Slag ($/t) FY average 3 • TiO2 feedstock prices eroded in the second half of the year after slightly increasing in the first half • Demand for TiO2 products was impacted by a weakening macro environment in 2023, resulting in sales volume declines for pigment producers in North America and Europe • The glob ...

Rio Tinto Group (NYSE:RIO) 2023Full Year Results Earnings Conference Call February 21, 2024 3:00 AM ET Company Participants Menno Sanderse – Investor Relations Jakob Stausholm – Chief Executive Officer Peter Cunningham – Chief Financial Officer Conference Call Participants Richard Hatch – Berenberg Paul Young – Goldman Sachs Kaan Peker – RBC Jason Fairclough – Bank of America Bob Brackett – Bernstein Rahul Anand – Morgan Stanley Lyndon Fagan – JPMorgan Alain Gabriel – Morgan Stanley Chris LaFemina – Jefferi ...