ALMA: Rio Tinto is investing $1.2 billion (CA$1.7 billion) to modernize its Isle-Maligne hydroelectric power plant, marking its largest single investment in hydroelectric assets since the 1950s. The renovation aims to secure the future of low-carbon aluminum production in Quebec’s Saguenay–Lac-Saint-Jean region, ensuring job stability and an efficient, safe, and reliable renewable energy supply for…
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Rio Tinto partners with Mitsui & Co. for Rhodes Ridge Joint Venture
SYDNEY: Rio Tinto has announced that Mitsui & Co. has entered into agreements to acquire a 40% interest in the Rhodes Ridge Joint Venture (RRJV) from Rio Tinto’s partners. Mitsui & Co. has agreed to acquire all of VOC Group Limited’s (VOCG) 25% interest in the joint venture. Additionally, Mitsui & Co. has entered into…
Rio Tinto and Sumitomo Metal Mining to partner on Winu copper-gold project
LONDON: Rio Tinto and Sumitomo Metal Mining (SMM) have signed a Term Sheet for a Joint Venture to deliver the Winu copper-gold project, located in the Great Sandy Desert region of Western Australia. Under the Term Sheet, which includes exclusivity obligations to work towards a binding Definitive Agreement, Rio Tinto will continue to develop and…
Rio Tinto pushes for stronger, diversified portfolio with new investments
LONDON: In a bid to strengthen its portfolio, Rio Tinto announced its ambitious growth plans today during its 2024 Investor Seminar in London. The company aims to enhance its position as a global leader in energy transition materials and ensure long-term shareholder returns. Jakob Stausholm, Rio Tinto’s Chief Executive, stated, “We have all the building…
Rio Tinto signs deal to acquire Arcadium Lithium for $6.7 billion
LONDON: Rio Tinto and Arcadium Lithium plc (NYSE: ALTM) announced a definitive agreement under which Rio Tinto will acquire Arcadium in an all-cash transaction for US$5.85 per share. The transaction represents a premium of 90% to Arcadium’s closing price of $3.08 per share on 4 October 2024, a premium of 39% to Arcadium’s volume-weighted average…
Green Lithium and Rio Tinto to develop lithium supply chain commercial partnership
LONDON: Green Lithium, the UK-based, low-carbon lithium refinery developer, has today announced the signing of a memorandum of understanding to develop a lithium supply chain commercial partnership with Rio Tinto, the global metals processing and mining company. This agreement marks another step for both parties as they look to play a crucial role across the…
Rio Tinto appoints Katie Jackson as Chief Executive of copper business
LONDON: Rio Tinto has appointed Katie Jackson to lead its Copper business, succeeding Bold Baatar, who as previously announced, will become Chief Commercial Officer later this year. Katie Jackson is currently President of National Grid Ventures, responsible for the development and operation of large-scale infrastructure energy assets. She will join Rio Tinto on 1 September…
Rio Tinto increases its shareholding in Sovereign Metals to 19.76%
Sovereign Metals Limited (ASX: SVM) announced that Rio Tinto Mining and Exploration Limited has exercised all its share options to increase its shareholding in Sovereign Metals to 19.76%.
Rio Tinto partners Founders Factory to invest in the technology startups
SYDNEY: Rio Tinto has announced a strategic partnership with Founders Factory, a leading global venture studio. This collaboration is set to fuel the development and commercialization of pioneering technologies, marking a significant commitment by Rio Tinto to enhance the mining industry’s efficiency and sustainability. Over the next three years, Rio Tinto will channel A$14.4 million…
Rio Tinto has appointed Bold Baatar as Chief Commercial Officer
SYDNEY, AUSTRALIA: Rio Tinto has appointed Bold Baatar to the role of Chief Commercial Officer, to lead the Group’s commercial and business development activities globally. Bold Baatar will succeed Alf Barrios as Chief Commercial Officer, following his decision to retire from Rio Tinto. Bold, who is currently Chief Executive Copper, will take on accountability for…
Rio Tinto signs Australia’s biggest renewable power deal
LONDON, UK: Rio Tinto has signed Australia’s largest renewable power purchase agreement (PPA) to date to supply its Gladstone operations in Queensland, agreeing to buy the majority of electricity from Windlab’s planned 1.4GW Bungaban wind energy project. The agreement, which follows the company announcement last month of a PPA for the Upper Calliope solar farm in Queensland,…
Rio Tinto to drive development of Australia’s largest solar farm at Gladstone
MELBOURNE, AUSTRALIA: Rio Tinto will drive development of Australia’s largest solar power project near Gladstone, after agreeing to buy all electricity from the 1.1GW Upper Calliope Solar Farm to provide renewable power to Rio Tinto’s Gladstone operations. The agreement will bring more renewable power into one of Australia’s most important industrial hubs and marks another…