Rio Tinto (RIO)

[idpickering]

The RNS on the above results is here; https://www.investegate.co.uk/rio-tinto ... 00076316Q/

Ian.

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Annual Financial Report.

The Rio Tinto Annual Report 2022 and Strategic Report 2022 have been released to the Australian Securities Exchange and made available at http://www.riotinto.com/reports. They have also been uploaded to the National Storage Mechanism and will be available at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Hard copies of these documents can be obtained free of charge on request.

Rio Tinto expects to file its Annual Report on Form 20-F 2022 with the United States Securities and Exchange Commission on or around 24 February 2023. American Depositary Receipt holders will be able to view Rio Tinto's Annual Report 2022 and the Annual Report on Form 20-F 2022 on the Rio Tinto website.

https://www.investegate.co.uk/rio-tinto ... 00027467Q/

Ian.

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Rio Tinto Settles US Bribery Case Linked to Simandou Mine.

Rio Tinto Group has agreed to pay a $15 million penalty to settle US claims of bribery in Guinea, more than six years after a payment connected to a vast iron ore deposit in the West African nation prompted the mining giant to fire two of its top executives.

https://www.bloomberg.com/news/articles ... ify%20wall

nb, Registration to read full item may be required.

Ian.

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Notices of 2023 annual general meetings.

Rio Tinto will today issue notices for the 2023 annual general meetings of Rio Tinto plc and Rio Tinto Limited. The notices will be available at riotinto.com/agm. Rio Tinto Limited's notice of meeting will also be released to the ASX.

Rio Tinto plc will hold its 2023 annual general meeting on 6 April 2023 in London and Rio Tinto Limited will hold its 2023 annual general meeting on 4 May 2023 in Perth. Shareholders are invited to participate in the meeting in person or virtually.

https://www.investegate.co.uk/rio-tinto ... 00060780S/

Ian.

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Rio Tinto resolves legacy U.S. Securities and Exchange Commission FCPA investigation.

Rio Tinto has today resolved a previously self-disclosed investigation by the U.S. Securities and Exchange Commission (SEC) into certain contractual payments made to a former consultant over a decade ago in 2011, relating to the Simandou project in the Republic of Guinea.

Without admitting to or denying the SEC's findings, Rio Tinto has agreed to pay a $15 million civil penalty for violations of the books and records and internal controls provisions of the Foreign Corrupt Practices Act (FCPA).

In connection with the settlement, Dominic Barton, Chairman of Rio Tinto said: "We are glad to have resolved this matter related to events that occurred over a decade ago on appropriate and reasonable terms. When Rio became aware of the issue, an internal investigation was immediately launched, and we proactively notified the appropriate authorities.

https://www.investegate.co.uk/rio-tinto ... 00050784S/

Ian.

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Rio Tinto and First Quantum Minerals partner to progress the La Granja copper project in Peru.

Rio Tinto and First Quantum Minerals ("First Quantum") have entered into an agreement to form a joint venture that will work to unlock the development of the La Granja copper project in Peru, one of the largest undeveloped copper deposits in the world.

La Granja is a complex orebody located at high altitude in Cajamara, Northern Peru, that has the potential to be a large, long-life operation, with a published Indicated and Inferred Mineral Resource totalling 4.32 billion tonnes at 0.51 percent copper[1]. The joint venture will bring together the combined knowledge, expertise and resources of Rio Tinto and First Quantum Minerals to progress the project.

Under the proposed transaction, First Quantum will acquire a 55% stake in the project for $105 million, and commit to further invest up to $546 million into the joint venture to sole fund capital and operational costs to take the project through a feasibility study and toward development. Upon completion of the sole funding commitment, all subsequent expenditures will be applied on a pro-rata basis according to the share ownership of the project.

The transaction is expected to complete by the end of Q3 2023, subject to the satisfaction of regulatory approvals. As majority owner, First Quantum will then operate the La Granja project with initial work focussed on completing the feasibility study.

https://www.investegate.co.uk/rio-tinto ... 00108617U/

Ian (I hold, and despite the recent dividend cut, I'm tempted to add to my RIO holdings maybe?).

[77ss]

Rio Tinto and First Quantum Minerals partner to progress the La Granja copper project in Peru.

Rio Tinto and First Quantum Minerals ("First Quantum") have entered into an agreement to form a joint venture that will work to unlock the development of the La Granja copper project in Peru, one of the largest undeveloped copper deposits in the world.

La Granja is a complex orebody located at high altitude in Cajamara, Northern Peru, that has the potential to be a large, long-life operation, with a published Indicated and Inferred Mineral Resource totalling 4.32 billion tonnes at 0.51 percent copper[1]. The joint venture will bring together the combined knowledge, expertise and resources of Rio Tinto and First Quantum Minerals to progress the project.

Under the proposed transaction, First Quantum will acquire a 55% stake in the project for $105 million, and commit to further invest up to $546 million into the joint venture to sole fund capital and operational costs to take the project through a feasibility study and toward development. Upon completion of the sole funding commitment, all subsequent expenditures will be applied on a pro-rata basis according to the share ownership of the project.

The transaction is expected to complete by the end of Q3 2023, subject to the satisfaction of regulatory approvals. As majority owner, First Quantum will then operate the La Granja project with initial work focussed on completing the feasibility study.


https://www.investegate.co.uk/rio-tinto ... 00108617U/

Ian (I hold, and despite the recent dividend cut, I'm tempted to add to my RIO holdings maybe?).

I was personally interested in this item - which I suspect may be positive for RIO. They may have enough on their copper plate, perhaps, with the huge Mongolian project.

I have holidayed in Cajamarca (Bloomberg has lost the c) and the province is scenically amazing. High altitude, not too much water and apparently the ore body is high in [expletive deleted]. Wierd not to able to use an elements name!!!! Can you do anything about this absurd prissiness mods?

For those with any interest, the town of Cajamarca is where Atahuallpa was imprisoned while his Inca subjects gathered gold to ransom him. Didn't work of course - he was still killed.

Back on topic, I too keep an eye on topping up RIO, but at the moment am more preoccupied with the annual dealing-ISA shift

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Rio Tinto to support ERA's entitlement offer to raise funds for Ranger rehabilitation.

Rio Tinto will support Energy Resources of Australia Ltd's (ERA) recently disclosed plans for an Interim Entitlement Offer (IEO), which seeks to raise up to A$369 million to address funding requirements for the Ranger Rehabilitation Project in Australia's Northern Territory to the end of Q2 2024.

Rio Tinto, which owns 86.3% of ERA's shares, has pre-committed to subscribe for its full entitlements under the terms of the IEO, at a cost of A$319 million.

Rio Tinto Chief Executive, Australia, Kellie Parker said " We are committed to ensuring the critical rehabilitation of Ranger is completed to a standard that will establish an environment similar to the adjacent Kakadu National Park."

Rio Tinto notes that ERA has, in the IEO offer material, recognised the Mirarr People's opposition to further uranium mining on their land. This was a relevant factor in Rio Tinto's recent decision to no longer report the Jabiluka deposit as a mineral resource. Rio Tinto also recognises that the Mirarr People's continued involvement in and support of the Ranger Rehabilitation Project is critical for its timely completion and success.

https://www.investegate.co.uk/rio-tinto ... 00052439V/

Ian.

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Rio Tinto plc annual general meeting.

The addresses given by the Chair and the Chief Executive at the Rio Tinto plc annual general meeting held today at 11.00am (BST) at The Queen Elizabeth II Conference Centre, Broad Sanctuary, Westminster, SW1P 3EE are available at http://www.riotinto.com/agm .

https://www.investegate.co.uk/rio-tinto ... 37046582V/

Ian ( I hold).

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Notice of dividend currency exchange rates - 2022 final dividend.

On 22 February 2023, Rio Tinto announced a final dividend of 225.00 US cents per share for the full year ended 31 December 2022, with Rio Tinto Limited shareholders to be paid a final dividend of 326.49 Australian cents per ordinary share and Rio Tinto plc shareholders to be paid a final dividend of 185.35 British pence per ordinary share. American Depositary Receipt (ADR) holders will receive the dividends in US dollars as announced on 22 February 2023.

The currency exchange rates which apply to Rio Tinto Limited shareholders who elect to receive the final dividend in pounds sterling or New Zealand dollars and Rio Tinto plc shareholders who elect to receive the final dividend in Australian dollars or New Zealand dollars are the currency exchange rates applicable on 13 April 2023.

This announcement confirms the currency exchange rates applicable for the 2022 final dividend for shareholders who have made a currency election:

176.61 British pence per share. paid 20 Apr 23.

https://www.investegate.co.uk/rio-tinto ... 00062049W/

Ian (I hold).

[EthicsGradient]

"176.61 British pence per share" is the dividend for Rio Tinto Limited, the Australian company, if you hold those shares (bought on the Australian exchange, I presume) and then elect to have the dividend paid in sterling. The dividend for Rio Tinto plc, which I imagine is what most Lemon Fools would or might hold, is "185.35 British pence per ordinary share".

[idpickering]

"176.61 British pence per share" is the dividend for Rio Tinto Limited, the Australian company, if you hold those shares (bought on the Australian exchange, I presume) and then elect to have the dividend paid in sterling. The dividend for Rio Tinto plc, which I imagine is what most Lemon Fools would or might hold, is "185.35 British pence per ordinary share".

Thank you for that. I've reported my post above as it's wrong.

Ian.

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Rio Tinto releases first quarter production results.

Q1 2023 operational highlights and other key announcements

• Our all-injury frequency rate of 0.32 was a small improvement from the first quarter of 2022 (0.34), and
an improvement against the prior quarter (0.45). We are undertaking an investigation at the Simandou
iron ore project following a Permanently Disabling Injury (PDI). We continue to prioritise the safety,
health and wellbeing of our workforce and communities where we operate.
• Pilbara operations produced 79.3 million tonnes (100% basis) in the first quarter, 11% higher than the
first quarter of 2022. Shipments were 82.5 million tonnes (100% basis), 16% higher than the
corresponding period of 2022, and a first quarter record, with stronger mine production and a drawdown
of stocks.
• Bauxite production of 12.1 million tonnes was 11% lower than the first quarter of 2022 as our Weipa
operations were affected by higher-than-average rainfall during the annual wet season. Production was
further affected by equipment downtime at both Weipa and Gove. We have maintained our bauxite
production guidance at 54 to 57 million tonnes as we implement plans to recover lost production at both
sites through the remainder of the year.
• Aluminium production of 0.8 million tonnes was 7% higher than the first quarter of 2022 as we benefited
from the continued ramp-up of the Kitimat smelter. Recovery at the Boyne and Kitimat smelters is
progressing to plan with full ramp-up expected to be completed later in the year. All our other smelters
continued to demonstrate stable performance during the quarter.
• Mined copper production of 145 thousand tonnes on a consolidated basis, was in line with the first
quarter of 2022.

Downloadable via here;

https://www.riotinto.com/en/invest/fina ... production

Ian (I hold).

[idpickering]

The RNS regarding the above is here;

https://www.investegate.co.uk/rio-tinto ... 00088388W/

Ian.

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Publication of Report on Payments to Governments for the year ended 31 December 2022.

Our report on payments to governments made by Rio Tinto and its subsidiary undertakings for the year ended 31 December 2022 as required under the UK's Report on Payments to Governments Regulations 2014 (as amended in December 2015) has been filed at Companies House. These UK Regulations enacted domestic rules in line with Chapter 10 of the EU Accounting Directive. The report also satisfies the requirements of Rule 4.3A of the Disclosure and Transparency Rules of the Financial Conduct Authority in the United Kingdom.

https://www.investegate.co.uk/announcement/7550587

Ian (I hold, and intend topping up my holdings soon).

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China Baowu and Rio Tinto extend climate partnership to decarbonise the steel value chain.

China Baowu, the world’s biggest steelmaker, and Rio Tinto, the world’s largest iron ore producer, have signed a Memorandum of Understanding (MoU) to explore a range of industry leading new projects in China and Australia to help decarbonise the steel value chain.

Under the MoU, China Baowu and Rio Tinto plan to jointly advance specific decarbonisation projects, demonstrating their commitment to play a leading role in the industry’s low-carbon transformation.

https://finance.yahoo.com/news/china-ba ... _qC5LiHer_

Ian.

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Rio Tinto to expand its AP60 low-carbon aluminium smelter in Quebec.

Rio Tinto will invest $1.1 billion (CAN$1.4 billion) to expand its state-of-the-art AP60 aluminium smelter equipped with low-carbon technology at Complexe Jonquière in Canada. The total investment includes up to $113 million (CAN$150 million) of financial support from the Quebec government. This expansion, which will coincide with the gradual closure of potrooms at the Arvida smelter on the same site, will enable Rio Tinto to continue meeting customers' demand for low-carbon, high-quality aluminium for use in transportation, construction, electrical and consumer goods.

The investment will add 96 new AP60 pots, increasing capacity by approximately 160,000 metric tonnes of primary aluminium per year, enough for 400,000 electric cars. As a result, there will be a total of 134 AP60 pots and a capacity of approximately 220,000 tonnes per annum. Construction will run over two and a half years, with commissioning of the new pots expected to start in the first half of 2026 and the smelter fully ramped up by the end of 2026. Once completed, the expanded smelter is expected to be in the first quartile of the industry cost curve.

This new capacity will offset the 170,000 tonnes of capacity lost through the gradual closure of potrooms at the Arvida smelter from 2024. In addition, Rio Tinto will add 30,000 tonnes of new capacity through the commissioning of the previously announced recycling facility at Arvida in the first quarter of 2025. These facilities will ensure Rio Tinto's casting facilities at Complexe Jonquière continue to provide value added products that meet customers' needs, including integrating recycled post-consumer aluminium into primary aluminium alloys.

https://www.investegate.co.uk/announcem ... 570870/RIO

Ian.

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Rio Tinto Executive team change.

Ivan Vella, Chief Executive, Aluminium, has accepted a new position outside of Rio Tinto and will leave in December 2023. He will continue to lead Aluminium while a robust process to identify his successor is undertaken but has stepped down from the Group's executive committee with immediate effect.

Rio Tinto Chief Executive Jakob Stausholm said "Ivan has made a significant contribution during his 20-year career with Rio Tinto, holding senior positions across the aluminium, iron ore, copper, and coal product groups, providing both operational and strategic leadership. We thank him for his contribution and wish him every success for the future."

https://www.investegate.co.uk/announcem ... 571379/RIO

Ian.

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Rio Tinto invests to strengthen US copper supply.

Rio Tinto is investing in its Kennecott operation near Salt Lake City, Utah, to strengthen its supply of copper in the United States by increasing production from underground mining and improving the health of key assets.

$498 million[1] of funding has been approved to deliver underground development and infrastructure for an area known as the North Rim Skarn[2] (NRS). Production from the NRS will commence in 2024 and is expected to ramp up over two years, to deliver around 250 thousand tonnes of additional mined copper over the next 10 years[3] alongside open cut operations.

As the above production target is in part underpinned by Inferred Resources, we note in accordance with ASX Listing Rule 5.16.4 that there is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the production target itself will be realised.

In September 2022, Rio Tinto approved development capital totalling $55 million to start underground mining in an area known as the Lower Commercial Skarn (LCS). Underground production within LCS started in February 2023, and is expected to deliver a total of around 30 thousand tonnes of additional mined copper through the period to 2027[4].

These two investments will support Kennecott in building a world class underground mine which will leverage battery electric vehicle (BEV) technology, following a successful trial in 2022. BEV's create a safer and healthier workplace for employees underground, increase the productivity of the mine and reduce emissions from operations.

https://www.investegate.co.uk/announcem ... ly/7584043

Ian.

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Investor site visit to OT copper mine, Mongolia.

Rio Tinto is hosting an investor site visit to the Oyu Tolgoi copper mine in Mongolia, set to become the world's fourth largest copper mine by 2030.

The presentation is not considered to contain any new material financial information.

The presentation slides are available at the link below.

https://www.riotinto.com/en/invest/pres ... site-visit

https://www.investegate.co.uk/announcem ... ia/7624352

Ian (I hold).