Rio Tino Plc is a global metal mining company engaged in discovery and production of precious metals, base metals and minerals.
The major elements include borates, aluminum, copper, iron ore, gold, tin, silver, diamond, titanium dioxide, zinc and uranium.
In 1873, a European investor group bought the Spain-based Rio Tinto mines and laid the foundation of the company. However, it was officially incorporated in 1962, following a merger between The Consolidated Zinc Corporation and The Rio Tinto Company Limited.
The present company operates under a dual-listed companies structure comprising Rio Tinto Limited and Rio Tinto Plc.
Rio Tinto Plc’s American Depository Receipts are listed for trading on the New York Stock Exchange under the quote of ‘RIO’. While Rio Tinto Limited’s stocks trade on the Australian Securities Exchange.
American Depository Receipts allow US investors to trade in stocks of foreign companies.
The exploration company has worldwide operations with assets in Canada, Australia, Madagascar, Iceland, New Zealand, Mongolia, the United States and South Africa. The company has over 60 operations and projects including:
• Richards Bay Minerals
• Oyu Tolgoi
• Bell Bay
• BC Works
The metal mining company claims that nearly 75 per cent of electricity used at its managed operations depend on renewable energy resources.
The global copper producer operates through several subsidiaries such as Turquoise Hill Resources, Kennecott Utah Copper, Robe River Limited, Rio Tinto Energy, Rio Tino Finance Limited, etc.
Its non-managed operations include:
• Escondida copper mine in Atacama Desert, Chile
• Alumar Refinery in Brazil
• Gladstone Power Station in Queensland, Australia
• Mutamba mineral sands deposit in Mozambique
• Sangaredi in Guinea; Sohar in Oman
The company claims to comply with the UK Modern Slavery Act and Australian Modern Slavery Act. In addition, it claims to focus on the safety and well-being of its employees and workers.