RNS Number: 0411 A Rio Tinto PLC 24 September 2020. The UKSP is an HMRC approved Share Incentive Plan under which qualifying UK employees are able to purchase, on a quarterly basis, Rio Tinto plc shares. Qualifying UK employees are also awarded Free Shares once a year..
RNS Number: 0408 A Rio Tinto PLC 24 September 2020 Shareholdings of directors and persons discharging managerial responsibility. L EI: 213800 YOEO5OQ72G2R82 Classification: 3.1. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
Rio Tinto announced today an update in respect of its beneficial ownership of common shares of Entrée Resources Ltd. held by its wholly owned subsidiary Rio Tinto International Holdings Limited. Under a non-brokered private placement previously announced by Entrée, on 14 September 2020, RTIH acquired 875,000 units, at a price of C $0.43 per unit,...
Rio Tinto announced today an update in respect of its beneficial ownership of common shares of Entrée Resources Ltd. held by its wholly owned subsidiary Rio Tinto International Holdings Limited. Under a non-brokered private placement previously announced by Entrée, on 14 September 2020, RTIH acquired 875,000 units, at a price of C $0.43 per unit,...
Rio Tinto (#RIO LN) – 4839p, Mkt cap £60bn - The untold story behind the resignation of CEO, Jean-Sebastian Jacques Rio Tinto has ousted its CEO Jean-Sebastian Jacques by mutual agreement, though J-S will remain in his role till a successor is appointed. Chris Salisbury, CEO of Iron Ore and Simone Niven, Group Executive of Iron Ore will also leave with immediate effect. Simon McKeon, non-executive director, is appointed Senior Independent Director, Rio Tinto Limited with immediate effect to complement the existing Senior Independent Director role, which will continue to be performed by Sam Laidlaw for Rio Tinto plc. J-S has effectively been forced out in our view by shareholders for his responsibility over the destruction of the ancient Juukan rockshelters in Western Australia. These shelters were an important heritage site and of cultural significance to the indigenous aboriginal people, the Puutu Kunti Kurrama and Pinikura people and other Traditional Owners. The mining industry was shocked at the destruction of the Juukan rockshelters and shareholders have taken action to remove the executives responsible. This was a huge flag for institutional investors which are increasingly applying stringent ESG ‘Environmental Social Governance’ criteria to their fund criteria. But, there may be much more to this than just the Juukan rockshelters? The Australian Financial Review (afr.com) reported: A long-time executive coach to Rio Tinto’s most senior executives reported “serious misgivings about unethical behaviour” to the company's board of directors in November 2019, even claiming the elimination of leadership rivals had been "orchestrated". In December 2017, another striking thing happened: British executive coaching firm GFI Blackswan abruptly quit its 12-year role providing leadership development services to Rio Tinto’s senior leadership team “because of serious misgivings about unethical behaviour”. Blackswan’s principal, Dr Maurice Duffy, laid this out in an eye-popping letter to current chairman Simon Thompson and the entire Rio Tinto board, Jacques and his entire executive committee, Rio’s lawyers Baker McKenzie and major institutional shareholders in the company on November 26, 2019. In it, Duffy complains that before terminating his consultancy agreement in 2017, he reported “multiple, unprofessional unethical behaviours” by Rio’s most senior executives to the then chairman and members of the board, “who took no action”. 'Inappropriate relationships' Bear in mind, these allegations were being made to the chairman by these executives’ long-standing professional confidant. Most stunningly, Duffy had reported “the leaks of emails, and how they were orchestrated … in order to remove Alan Davies and Debra Valentine”. These are those innocuous emails, leaked in August 2016 to an obscure French internet forum, fnPaste. From there, miraculously, they caught the board’s attention. Duffy had reported “the inappropriate relationships”. One such relationship remains an open secret in Rio Tinto circles. Sadly Rios now has a confidential settlement with Duffy which suggests he cannot say anything unless interviewed by a regulator. Conclusion: Will the removal of J-S be sufficient to keep institutional investors with strong ESG criteria in the stock? We suspect Rio will continue to pay significant dividends principally earned off the iron ore business to maintain their attention. Question is; how can ESG funds become more proactive to force out bad managers before they allow acts of reckless cultural vandalism to occur on their watch?
Rio Tinto Plc #RIO announced that J-S Jacques will step down from his role as an executive director and Chief Executive of the Group by mutual agreement. Further, a process to identify his successor is underway. J-S will remain in his role until the appointment of his successor or 31 March 2021, whichever is earlier. Also, Chris Salisbury will step down as Chief Executive, Iron Ore with immediate effect and will leave Rio Tinto on 31 December 2020. Ivan Vella, currently Managing Director for Rail, Port & Core Services within Rio Tinto Iron Ore, will replace him on an interim basis, following a handover period with Chris. Additionally, Simone Niven will step down as Group Executive, Corporate Relations, and will leave the Group on 31 December 2020 after completing an orderly transition of her responsibilities.
RNS Number: 6886 Y Rio Tinto PLC 11 September 2020 Rio Tinto Executive Committee changes. Following the publication on 24 August 2020 of the Board Review of Cultural Heritage Management, undertaken in response to the destruction of the Juukan rockshelters in May 2020, the Board of Rio Tinto has engaged extensively with shareholders, Traditional Owners,...
RNS Number: 6888 Y Rio Tinto PLC 11 September 2020 Notice of dividend currency exchange rates- 2020 interim dividend. On 29 July 2020, Rio Tinto announced an interim dividend of 155.00 US cents per share for the half year ended 30 June 2020, with Rio Tinto Limited shareholders to be paid 216.47 Australian cents per ordinary share and Rio Tinto plc shareholders to...
Following the publication on 24 August 2020 of the Board Review of Cultural Heritage Management, undertaken in response to the destruction of the Juukan rockshelters in May 2020, the Board of Rio Tinto has engaged extensively with shareholders, Traditional Owners, Indigenous leaders and other stakeholders. While there is general recognition of the...
Following the publication on 24 August 2020 of the Board Review of Cultural Heritage Management, undertaken in response to the destruction of the Juukan rockshelters in May 2020, the Board of Rio Tinto has engaged extensively with shareholders, Traditional Owners, Indigenous leaders and other stakeholders. While there is general recognition of the...
Rio Tinto and Turquoise Hill Resources have entered into a memorandum of understanding, which provides a clear pathway to progress the financing for completion of the Oyu Tolgoi Underground Project in Mongolia and address TRQ’ s funding position. pursue re-profiling of principal debt repayments with lenders under the existing project finance...
Rio Tinto and Turquoise Hill Resources have entered into a memorandum of understanding, which provides a clear pathway to progress the financing for completion of the Oyu Tolgoi Underground Project in Mongolia and address TRQ’ s funding position. pursue re-profiling of principal debt repayments with lenders under the existing project finance...
Rio Tinto and Turquoise Hill Resources have entered into a memorandum of understanding, which provides a clear pathway to progress the financing for completion of the Oyu Tolgoi Underground Project in Mongolia and address TRQ's funding position.. ·seek to raise up to $500 million in additional lending under the existing project financing arrangements from...
RNS Number: 6330 Y Rio Tinto PLC 10 September 2020 Shareholdings of persons discharging managerial responsibility. Rio Tinto plc notifies the London Stock Exchange of PDMR interests in securities of Rio Tinto plc, in compliance with the EU Market Abuse Regulation. As part of its dual listed company structure, Rio Tinto voluntarily notifies the Australian...
Rio Tinto (#RIO LN) 4653p, Mkt cap £57.0bn –Simandou controversy may be moving closer to resolution We note a report from the “Rear Window” column of Australia’s Financial Review dated 27th July alleging that an advisor to Rio Tinto expressed “serious misgivings” concerning the events surrounding the company’s dealings with the Republic of Guinea concerning the iron ore deposit at Simandou. The article suggests, however, that “Credible speculation persists that the miner is now close to reaching a Deferred Prosecution Agreement with the regulator”. If this proves to be the case it could bring a conclusion to a chain of events dating back to November 2016 when Rio Tinto “self reported” events related to the lobbying for reinstatement of its licences at Simandou leading to an investigation by the UK’s Serious Fraud Office.
Rio Tinto has provided additional information to the Australian Parliamentary Inquiry into the destruction of the rockshelters at the Juukan Gorge in the Pilbara region of Western Australia. The additional information relates to questions taken on notice when Rio Tinto provided evidence to the Inquiry Committee and additional questions received from...
RNS Number: 0671 Y Rio Tinto PLC 04 September 2020 Rio Tinto provides additional information to Parliamentary Inquiry on Juukan Gorge. Rio Tinto has provided additional information to the Australian Parliamentary Inquiry into the destruction of the rockshelters at the Juukan Gorge in the Pilbara region of Western Australia. RNS is approved by the...
RNS Number: 6604 X Rio Tinto PLC 01 September 2020 Shareholdings of directors and persons discharging managerial responsibility. Rio Tinto plc notifies the London Stock Exchange of PDMR interests in securities of Rio Tinto plc, in compliance with the EU Market Abuse Regulation. As part of its dual listed company structure, Rio Tinto voluntarily notifies the...
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Company Profile

Mining giant Rio Tinto may be UK-based, but its operations make it truly a global company. The group has a solid reputation, mining aluminium, copper, gold, diamond, iron and lead. The majority of earnings come from the base metal side of the group. Currencies are a big influence of earnings each year.

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