Rio Tinto (corporation)

Resourcing Tomorrow, Accelerating the Energy Transition

Retrieved on: 
Wednesday, July 19, 2023

Full Conference Agenda Out Now

Key Points: 
  • London, England--(Newsfile Corp. - July 19, 2023) - Resourcing Tomorrow, taking place in London from November 28th to 30th has just launched the 2023 programme, dedicated to accelerating the energy transition and addressing the challenges of moving towards a cleaner, more sustainable future.
  • Miners face complex supply issues as they strive to produce the metals necessary for electric cars, wind turbines, and other new energy technologies.
  • The Resourcing Tomorrow Theatre will explore topics such as the energy transition, decarbonization, the circular economy, ESG risks, critical minerals, and environmental resilience.
  • Resourcing Tomorrow represents an unparalleled opportunity for all organisations seeking engagement with mining, energy and resources.

Rio Tinto releases second quarter production results

Retrieved on: 
Tuesday, July 18, 2023

Pilbara operations produced 81.3 million tonnes (100% basis) in the second quarter, 3% higher than the second quarter of 2022 as Gudai-Darri achieved sustained nameplate capacity during the period.

Key Points: 
  • Pilbara operations produced 81.3 million tonnes (100% basis) in the second quarter, 3% higher than the second quarter of 2022 as Gudai-Darri achieved sustained nameplate capacity during the period.
  • Aluminium production of 0.8 million tonnes was 11% higher than the second quarter of 2022 as we benefited from the continued ramp-up of the Kitimat smelter.
  • Mined copper production of 145 thousand tonnes (on a consolidated basis), was 1% lower than the second quarter of 2022.
  • In the second quarter, we commenced deployment of the Safe Production System at a further two sites, taking the total to 20 sites.

ENTRÉE RESOURCES PROVIDES UPDATE ON ENTRÉE/OYU TOLGOI JV NEGOTIATIONS

Retrieved on: 
Monday, July 17, 2023

During the Q&A session when asked about the Entrée/Oyu Tolgoi joint venture, representatives of OT LLC and Rio Tinto stated that the parties were "nearing the close of the negotiations", and "finalizing the final touches on the definitive agreement".

Key Points: 
  • During the Q&A session when asked about the Entrée/Oyu Tolgoi joint venture, representatives of OT LLC and Rio Tinto stated that the parties were "nearing the close of the negotiations", and "finalizing the final touches on the definitive agreement".
  • The transcript of the Q&A session has been made available to the markets via Rio Tinto's website.
  • As previously disclosed, Entrée has been engaged in negotiations with OT LLC and Rio Tinto to amend or restructure the joint venture agreement ("Entrée/Oyu Tolgoi JVA") that has governed the relationship between the parties since 2008 and transfer the Shivee Tolgoi and Javhlant mining licenses to OT LLC as contemplated in the Entrée/Oyu Tolgoi JVA.
  • There are no assurances that a definitive agreement will be signed, or if signed, that a transaction would close.

Metals Acquisition Limited Appoints Dan Vujcic as Interim CFO

Retrieved on: 
Monday, July 17, 2023

Metals Acquisition Limited (“MAC” or the “Company”) today announced the appointment of Dan Vujcic as interim Chief Financial Officer in addition to his current role as Chief Development Officer.

Key Points: 
  • Metals Acquisition Limited (“MAC” or the “Company”) today announced the appointment of Dan Vujcic as interim Chief Financial Officer in addition to his current role as Chief Development Officer.
  • The Board of Directors of the Company has commenced a search for a permanent CFO.
  • Mr. Vujcic, one of the founders of the company, is well supported by the Company’s recently expanded finance team in Canada and Australia.
  • Previously, Mr. Vujcic led the effort to expand Jefferies’ footprint globally through its coverage of emerging small/mid-cap and family offices.

New partnerships and pro-investment reforms announced as tenth Mongolia Economic Forum takes place in Ulaanbaatar

Retrieved on: 
Monday, July 10, 2023

ULAANBAATAR, Mongolia, July 10, 2023 /PRNewswire/ -- The tenth Mongolia Economic Forum (MEF) continues in Ulaanbaatar today amidst the announcement by the Government of two new bodies to support investment into the country and of new partnerships with Elon Musk's SpaceX and leading geo-location company What3Words.

Key Points: 
  • ULAANBAATAR, Mongolia, July 10, 2023 /PRNewswire/ -- The tenth Mongolia Economic Forum (MEF) continues in Ulaanbaatar today amidst the announcement by the Government of two new bodies to support investment into the country and of new partnerships with Elon Musk's SpaceX and leading geo-location company What3Words.
  • Vision 2050 and the New Recovery Policy announced in 2022 set a clear strategic direction for Mongolia's sustainable development to inform the Government's wider policy programme.
  • This direction has enabled rapid progress to date and provides the foundation for the latest round of milestones announced this year at the Forum.
  • This morning the Government announced the creation of the Private Partnership Centre and the Investment and Trade Agency, to support more investment into the country.

New partnerships and pro-investment reforms announced as tenth Mongolia Economic Forum takes place in Ulaanbaatar

Retrieved on: 
Monday, July 10, 2023

ULAANBAATAR, Mongolia, July 10, 2023 /PRNewswire/ -- The tenth Mongolia Economic Forum (MEF) continues in Ulaanbaatar today amidst the announcement by the Government of two new bodies to support investment into the country and of new partnerships with Elon Musk's SpaceX and leading geo-location company What3Words.

Key Points: 
  • ULAANBAATAR, Mongolia, July 10, 2023 /PRNewswire/ -- The tenth Mongolia Economic Forum (MEF) continues in Ulaanbaatar today amidst the announcement by the Government of two new bodies to support investment into the country and of new partnerships with Elon Musk's SpaceX and leading geo-location company What3Words.
  • Vision 2050 and the New Recovery Policy announced in 2022 set a clear strategic direction for Mongolia's sustainable development to inform the Government's wider policy programme.
  • This direction has enabled rapid progress to date and provides the foundation for the latest round of milestones announced this year at the Forum.
  • This morning the Government announced the creation of the Private Partnership Centre and the Investment and Trade Agency, to support more investment into the country.

The Unknown Metal That Global Tech Giants Are Fighting Over

Retrieved on: 
Friday, July 7, 2023

LONDON, July 7, 2023 /PRNewswire/ -- In recent years, critical minerals have become intimately linked with the national security of Western nations.  Access to critical minerals is essential to any country hoping to gain or maintain technological superiority over its rivals - a fact that China was distinctly aware of when it moved to buy up the industry over a decade ago. But now a fightback is underway.  Companies mentioned in this release include:  Freeport-McMoRan Inc. (NYSE: FCX), Turquoise Hill Resources (NYSE: TRQ), FMC Corporation (NYSE: FMC), Rio Tinto (NYSE: RIO), Livent Corporation (NYSE: LTHM).

Key Points: 
  • And as these countries move to combat China, the non-Chinese companies sitting on the strategically vital resources are becoming increasingly important.
  • And despite its importance, all the known cesium deposits around the world have either been depleted, or the mines have been rendered inoperable.
  • It isn't just the geopolitical context and resource quality that makes PowerMetals Corp ( PWM , PWRMF ) such an intriguing prospect.
  • Its agricultural products significantly contribute to improving crop yield and quality, making it a key player in addressing global food security issues.

The Unknown Metal That Global Tech Giants Are Fighting Over

Retrieved on: 
Friday, July 7, 2023

LONDON, July 7, 2023 /PRNewswire/ -- In recent years, critical minerals have become intimately linked with the national security of Western nations.  Access to critical minerals is essential to any country hoping to gain or maintain technological superiority over its rivals - a fact that China was distinctly aware of when it moved to buy up the industry over a decade ago. But now a fightback is underway.  Companies mentioned in this release include:  Freeport-McMoRan Inc. (NYSE: FCX), Turquoise Hill Resources (NYSE: TRQ), FMC Corporation (NYSE: FMC), Rio Tinto (NYSE: RIO), Livent Corporation (NYSE: LTHM).

Key Points: 
  • And as these countries move to combat China, the non-Chinese companies sitting on the strategically vital resources are becoming increasingly important.
  • And despite its importance, all the known cesium deposits around the world have either been depleted, or the mines have been rendered inoperable.
  • It isn't just the geopolitical context and resource quality that makes PowerMetals Corp ( PWM , PWRMF ) such an intriguing prospect.
  • Its agricultural products significantly contribute to improving crop yield and quality, making it a key player in addressing global food security issues.

Rio Tinto invests to strengthen copper supply in US

Retrieved on: 
Tuesday, June 20, 2023

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.

Key Points: 
  • 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.
  • 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).
  • Rio Tinto Copper chief operating officer Clayton Walker said: “We are investing to build a world class underground mine at Kennecott and strengthen our processing facilities, to meet the growing demand for copper in the United States, a key material for domestic manufacturing and the energy transition.
  • All the above investments are already included in Rio Tinto’s share of capital investment guidance for 2023 to 2025.

Hudbay Completes Acquisition of Copper Mountain to Create a Premier Americas-Focused Copper Producer

Retrieved on: 
Tuesday, June 20, 2023

Copper Mountain is now a wholly-owned subsidiary of Hudbay and, in accordance with the terms of the Transaction, former Copper Mountain shareholders received 0.381 of a Hudbay share for each Copper Mountain share previously held.

Key Points: 
  • Copper Mountain is now a wholly-owned subsidiary of Hudbay and, in accordance with the terms of the Transaction, former Copper Mountain shareholders received 0.381 of a Hudbay share for each Copper Mountain share previously held.
  • All assets in the combined portfolio are located in the tier-one mining-friendly jurisdictions of Canada, Peru and the United States.
  • The combined company represents the third largest copper producer in Canada based on 2023 estimated copper productioni.
  • Peter Kukielski, Hudbay’s President and Chief Executive Officer, commented, “We look forward to the formal integration of Copper Mountain into our complementary portfolio of operating assets.