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Company News: Rio Tinto
Last Update: 12 Jul 2010
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Rio Tinto Alcan completes the sale of its equity stake in Ningxia aluminium smelter for US$125 million
Rio Tinto Alcan has completed the sale of its 50 percent equity share of the Alcan Ningxia aluminium joint venture in China to Qingtongxia Aluminium Group Co Ltd (QTX) for gross cash consideration of US$125 million.
26 Jan 2009
Rio Tinto Alcan curtails production and cuts costs in response to global economic conditions
Rio Tinto Alcan plans to implement further production curtailments to align production with customer demand.
20 Jan 2009
Fourth quarter 2008 operations review
Chief executive Tom Albanese said: "Production for the quarter was in line with expectations. We are taking firm action in response to the global economic downturn and, given the resilience of Rio Tinto's low cost assets, expect to remain well positioned when recovery comes."
15 Jan 2009
Further update on Simandou
Rio Tinto has received correspondence from the Guinean Minister of Mines which appears to indicate that the Council of Ministers has instructed the Ministry of Mines and Geology to effect a compulsory relinquishment of the northern half of the Simandou Mining Concession whilst confirming Rio Tinto's entitlement to the southern half of that Concession.
11 Dec 2008
Rio Tinto joint venture Richards Bay Minerals reaches agreement on 26 per cent BBBEE transaction
Rio Tinto's South African joint venture with BHP Billiton Plc ("BHPB"), Richards Bay Minerals ("RBM"), announced that agreements with a Broad-Based Black Economic Empowerment ("BBBEE") Consortium were signed today, in which 24 per cent of RBM will be transferred to a group comprising local communities and investors with a further 2 per cent to be transferred to a trust for the benefit of RBM employees.
11 Dec 2008
Rio Tinto commits to reduce net debt by $10 billion by end of 2009
Rio Tinto has announced a detailed package of measures in response to the unprecedented rapidity and severity of the global economic downturn, which has caused sharp falls in commodity prices and a significantly weaker outlook. The initiatives are aimed at preserving value for shareholders by conserving cashflow and reducing levels of debt.
10 Dec 2008
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