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August 29, 2015 3:06 PM ET

Metals and Mining

Company Overview of Rio Tinto Group

Company Overview

Rio Tinto Group offers finding, mining, and processing services for metals and minerals. The company offers alumina, aluminum, bauxite, borates, coal, copper, diamonds, gold and silver, gypsum, iron ore, molybdenum, salt, sulphuric acid, talc, titanium dioxide, uranium, nickel, potash, lead, and zinc. It serves various markets, such as fiberglass, glass, ceramics, wood preservative, energy, metallurgy, fabricator, bank, gold trader, wallboard, plaster, titanium pigment producers, cement, agriculture, automotive, construction, electronic products, water treatment, food, health care, cosmetics, cable, and fertilizer markets in Africa, Australia, Asia, and North America. The company has a strat...

2 Eastbourne Terrace

London,  W2 6LG

United Kingdom

Founded in 1995

Phone:

44 20 7781 2000

Fax:

44 20 7781 1800

Key Executives for Rio Tinto Group

Chief Executive Officer and Executive Director
Age: 65
Chairman and Chairman of Nominations Committee
Age: 61
Chief Financial Officer and Executive Director
Age: 61
Chief Executive of the Aluminium Group
Age: 61
Chief Executive of Iron Ore
Age: 48
Compensation as of Fiscal Year 2015.

Rio Tinto Group Key Developments

Bidders Reportedly Eyes Rio Tinto's Thermal Coal Business

Shenhua Group Corporation Limited is among six parties assessing bids for Rio Tinto Group's $4 billion thermal coal business, the Australian Financial Review reported. The bidders are Shenhua, New Hope Corporation Limited (ASX:NHC) and an unnamed specialist mining private equity, Glencore Plc (LSE:GLEN) and X2 Resources LLP. New Hope is interested in only part of the Rio business, the report stated citing unnamed sources.

X2 Resources Reportedly Mulls Acquisition From Mining Firms

X2 Resources Limited has completed an initial fundraising of $5.6 billion to buy mining assets. The company seeks to buy assets from BHP Billiton Limited (ASX:BHP), Rio Tinto Group, Vale S.A. (BOVESPA:VALE5) and Anglo American plc (LSE:AAL).

Rio Tinto Group Plans to Cut Costs and Jobs Across Six Divisions

Rio Tinto plans to cut costs and jobs across six divisions. Rio Tinto, is heavily reliant on the price of iron ore, which has fallen by about 50% in the last year alone. Rio announced that its energy chief was leaving and it would fold its coal and uranium businesses into two other units, in a reorganisation aimed at slashing costs. The company instructed six divisional heads to remove duplication and formulate plans to revise the structure of their divisions in the coming weeks. The note made no specific reference to the number of jobs that could be cut but there could be hundreds, which could help Rio better withstand the relentless fall in the price of iron ore and other commodities.

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