Rio Tinto plc (NYSE:RIO, ASX:RIO, LSE:RIO) was founded in 1873 and is headquartered in London, England (actually an Australian company), with 46,000 full-time employees, and Australia’s BHP Billiton and Brazil’s Freshwater He Valley is collectively called the world’s three major iron ore giants.
Rio Tinto (RIO):
Rio Tinto is a multinational mineral and resource group. In addition to the most well-known iron ore, Rio Tinto is also the world’s largest aluminum company. It also deals in coal, iron, copper, gold, diamonds, and energy. Waiting for business.
Rio Tinto Group is an Anglo-Australian multinational company. It is the world’s second largest metals and mining company after BHP Billiton , producing iron ore, copper, diamonds, gold and uranium.
Rio Tinto was established in 1873 when a consortium of multinational investors purchased a mining farm in Rio Tinto, Huelva, Spain from the Spanish government. Since then, the company has grown through a series of mergers and acquisitions, making it a world leader in the production of many commodities including aluminum, iron ore, copper, uranium and diamonds. Although Rio Tinto focuses on mineral mining, it also has important operations in refining, especially in the refining of bauxite and iron ore. Rio Tinto has joint headquarters in London and Melbourne.
Rio Tinto (RIO) subsidiary:
Rio Tinto Group has operations on six continents, but is mainly concentrated in Australia and Canada, and has its own mining operations through a complex network of wholly-owned and partially-owned subsidiaries.
- Energy Resources of Australia-68.4%
- Hathor Exploration-100%
- QIT-Fer et Titane-100%
- Dampier Salt-68.4%
- Iron Ore Company of Canada-58.7%
- Pacific Aluminum-100%
- Richards Bay Minerals-74%
- Turquoise Hill Resources-51%
Rio Tinto History:
- Rio Tinto was founded in Spain in 1873;
- In 1954, Rio Tinto sold most of its Spanish operations;
- From 1962 to 1997, Rio Tinto merged with several influential mining companies in the world;
- In 2000, Rio Tinto successfully acquired the Northern Mining Company of Australia, becoming a global leader in the exploration, mining and processing of mineral resources;
- In early 2007, Rio Tinto announced the acquisition of Aluminum Corporation of Canada (Alcan) for $38.1 billion;
- On August 27, 2007, the US antitrust authorities agreed to Rio Tinto’s acquisition of Alcan. The new company (“Rio Tinto-Alcan”) will be headquartered in Montreal, which is the world’s largest aluminum company;
- On February 1, 2009, Aluminum Corporation of China plans to invest USD 19.5 billion in Rio Tinto Group. If approved, it will become the single largest shareholder of Rio Tinto Group;
- On June 5, 2009, Rio Tinto revoked its strategic cooperation agreement with Chalco in February, that is, Chalco’s US$19.5 billion capital injection, and instead sought to establish a joint venture with BHP Billiton;
- On April 20, 2011, Rio Tinto successfully controlled the Australian coking coal company Riversdale Mining Ltd. for US$4 billion;
- October 6, 2014, the media exposed the Australian Rio Tinto and Swiss Glencore company intends to merge, the new combined company will become the world’s largest mining companies, but so far (August 2015) there was no Progress report
- In 2015, the Guinean government criticized the many mining delays at the Simandou mine in Rio Tinto. Government official Cece Noramou said the government “has no patience.” President Alpha Comte himself said: “Simandou has been 15 and 20 years old. They have never produced a ton of iron.”
- At the end of 2016, Rio Tinto agreed to sell its stake in the Simandou iron ore mine to Chinalco and exited the transaction.
Rio Tinto (RIO) investment:
With the economic slowdown in China, the world’s largest emerging country, the slowdown in infrastructure construction, and the surplus of real estate, it is expected that the performance of iron ore will be unsatisfactory for a long time in the future, and it is estimated to be as unsatisfactory as crude oil . Bottom line, it is recommended to avoid.