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{{Infobox_Company |
Www.microsemi.com ja ja ja ja ja ja thats how bagwell punches on prison break ja jaj jaj
company_name = Rio Tinto Limited & plc|
company_logo = ] |
company_type = ] ({{asx|RIO}}, {{lse|RIO}}, {{nyse|RTP}}) |
company_slogan = N/A|
foundation = 1873 |
location = ], ], ]<br/>], ] |
key_people = ], Chairman <br/> ], CEO <br/>Guy Elliott, Finance Director <br/> Dick Evans, Executive Director|
num_employees = 35,000 (2007)||
revenue = ]58,065 million (2008)<ref name="PR-2008"/>|
operating_income= US$11,233 million (2008)|
net_income = US$4,609 million (2008)|
industry = ]|
products = ]<br/>]<br/>]<br/>]<br/>]<br/>]<br/>]<br/>]s<br/>]<br/>]<br/>]<br/>]s<br/>]<br/>]|
homepage =
}}


The '''Rio Tinto Group''' is a diversified, multinational ] and resources group with headquarters in ], ] and ], ]. The company was founded in 1873, when a multinational consortium of investors purchased a mine complex on the ] river, in ], ] from the Spanish government. Since then, the company has grown through a long series of mergers and acquisitions to place itself among the world leaders in the production of many commodities, including aluminium, iron ore, copper, uranium, coal, and diamonds.<ref name="PR-2008">{{citeweb|url=http://www.riotinto.com/documents/Media/PR712g_Rio_Tinto_announces_underlying_earnings_of__10.3_billion.pdf
|title=Rio Tinto Preliminary Results 2008}}</ref> Although primarily focused on extraction of minerals, Rio Tinto also has significant operations in refining, particularly for refining bauxite and iron ore.<ref name="RT-Prod"/> The company has operations on six continents but is mainly concentrated in Australia and Canada, and owns gross assets valued at $81 billion through a complex web of wholly and partly owned ].<ref name="Chartbook"/>


Rio Tinto Group is a ] traded on both the ] where it is a component of the ]<ref name="LSE"/> and the ] where it is a component of the ] index.<ref name="ASX200"/> As of March, 2009, Rio Tinto is the fourth-largest publicly listed mining company in the world with a ] of approximately $34 billion,<ref name="Chartbook"/> and was listed in Fortune magazine's 2008 ] ranking of largest worldwide companies by revenue at number 263.<ref name="Glob500">{{cite web|url=http://money.cnn.com/magazines/fortune/global500/2008/snapshots/11028.html|title=Global 500: 263. Rio Tinto Group|date=July 21, 2008|work=Fortune|accessdate=2009-04-16}}</ref> Although the company has a long record of producing profitable operating results and favorable investment returns, the company's 2007 acquisition of Canadian aluminium company ] burdened Rio Tinto with substantial debt, requiring it to dispose of assets to raise cash and consider accepting a large investment from the Chinese state-controlled company ].<ref name="Forbes"/>


==History==
===Formation===
]


Since antiquity, a site along the Rio Tinto, in the ]n ] in ] has been mined for ], ], ], and other minerals.<ref name ="Carleton">
{{cite web
| last = Bordenstein
| first = Sarah
| title = Rio Tinto, Spain
| work = Science Education Resource Center
| publisher = Carleton College
| url = http://serc.carleton.edu/microbelife/topics/riotinto/
| accessdate = March 3, 2009}}
</ref> Approximately 3,000 BC, ] and ] began mining the site, followed by the ]ns, ], ], ], and ]. After a period of abandonment, the mines were rediscovered in 1556 and the Spanish government began operating them once again in 1724.<ref name="Carleton"/>


]
].]]

However, Spain's mining operations there were inefficient, and the government itself was otherwise distracted by political and financial crises,<ref name ="Harvey">{{cite book
| last = Harvey
| first = Charles E.
| title = The Rio Tinto Company: An Economic History of a leading international mining concern, 1873 - 1954
| publisher = Alison Hodge Publishers
| date = 1981
| pages = 10-11, 23, 52, 89, 202, 207-215, 314-324
| url = http://books.google.com/books?id=FgW09Y59CrkC
| isbn = 0906720036, 9780906720035}} </ref> leading the government to sell the mines in 1873 at a price later determined to be well below actual value. <ref name ="Huelva"> {{cite web
| title = Huelva Province - Rio Tinto
| work = Andalucia.com
| publisher = Andalucia.com
| url = http://www.andalucia.com/province/huelva/riotinto/home.htm
| accessdate = March 3, 2009}}
</ref>

The purchasers of the mine were led by ]'s Matheson and Company, which ultimately formed a syndicate consisting of ] (56% ownership), Matheson (24%), and railway firm Clark, Punchard and Company (20%). At an auction held by the Spanish government for sale of the mine on February 17, 1873, the group won with a bid ]3,680,000 (] 92,800,000). The bid also specified that Spain permanently relinquish any right to claim ] on the mine's production. Following purchase of the mine, the syndicate launched the Rio Tinto Company, registering it on March 29, 1873.<ref name ="Harvey"/>

===Operating history===
Following their purchase of the Rio Tinto Mine, the new ownership constructed a number of new processing facilities, innovated new mining techniques, and expanded mining activities. <ref name ="Harvey"/> From 1877 through 1891, the Rio Tinto Mine was the world's leading producer of copper.<ref name="HJStevens">{{cite book|last=Stevens|first=Horace Jared|title=The Copper Handbook|publisher=Horace J. Stevens|date=1908|volume=8|pages=1547}}</ref>

]

From 1871 through 1925, the company was inwardly focused on fully exploiting the Rio Tinto Mine, with little attention paid to expansion or exploration activities outside of Spain. The company enjoyed strong financial success until 1914, ] to control market prices. However, ] and its aftermath effectively eliminated the United States as a viable market for European pyrites, leading to a decline in the firm's prominence.<ref name="Harvey"/>

] was a major product of Rio Tinto's first mines.]]

The company's failure to diversify during this period led to the slow decline of the company among the ranks of international mining firms. However, this changed in 1925, when Sir ] succeeded Lord ] as chairman. Geddes and the new management team he installed focused on ] of the company's investments and operations and reformation of marketing strategy. Geddes led the company into a series of ]s with customers in the development of new technologies, as well as exploration and development of new mines outside of Spain.<ref name ="Harvey"/>

Perhaps most significant was the company's investment in copper mines in ], which it eventually consolidated into the ].<ref name ="Harvey"/> These and later efforts at diversification eventually allowed the company to divest from the Rio Tinto mine in Spain. By the 1950s, ]'s nationalistic government had made it increasingly difficult to exploit Spanish resources for the profit of foreigners.<ref name ="Harvey"/> Rio Tinto Company, supported by its international investments, was able to divest two-thirds of its Spanish operations in 1954 and the remainder over the following years.<ref name="RTWeb">{{cite web
| title = Who We Are: Timeline
| work = Rio Tinto web site
| publisher = Rio Tinto Group
| date = 2009
| url = http://www.riotinto.com/whoweare/timeline.asp
| accessdate = March 4, 2009}}</ref>

===Major mergers and acquisitions===
Like many major mining companies, the Rio Tinto Group has historically grown through a series of mergers and acquisitions.

====Early acquisitions====
] was the location of Rio Tinto's first major international expansion of mining activities.]]

The company's first major acquisition occurred in 1929, when the company issued stock for the purpose of raising 2.5 million pounds to invest in Rhodesian copper mining companies, which was fully invested by the end of 1930. The Rio Tinto company consolidated its holdings of these various firms under the Rhokana Corporation by forcing the various companies to merge.<ref name="Harvey"/>

Rio Tinto's investment in Rhodesian copper mines did much to support the company through troubled times at its Spanish Rio Tinto operations spanning the ], ], and Franco's nationalistic policies. In 1950s the political situation made it increasingly difficult for mostly British and French owners to extract profits from Spanish operations, and the company decided to dispose of the mines from which it took its name.<ref name="Harvey"/> Thus, in 1954 Rio Tinto Company sold two thirds of its stake in the Rio Tinto mines, disposing of the rest over the following years.<ref name ="RTWeb"/> The sale of the mines financed extensive exploration activities over the following decade.<ref name="RT-DLC">
{{cite web
| title = RTZ CRA United for Growth
| work = Rio Tinto Review
| publisher = Rio Tinto Group
| date = 2006
| url = http://www.riotinto.com/documents/Investors/dlcsep06.pdf
| format = pdf
| accessdate = March 4, 2009}} </ref>

====Merger with Consolidated Zinc====
The company's exploration activities presented the company with an abundance of opportunities; however it lacked sufficient capital and operating revenue to exploit those opportunities. This situation precipitated the next, and perhaps most significant, merger in the company's history. In 1962 Rio Tinto Company merged with the ]n firm ] to form the Rio Tinto – Zinc Corporation (RTZ) and its main subsidiary, Conzinc Riotinto of Australia (CRA). The merger provided Rio Tinto the ability to exploit its new-found opportunities, and gave Consolidated Zinc a much larger asset base.<ref name="RT-DLC"/>

RTZ and CRA were separately managed and operated, with CRA focusing on opportunities within ] and RTZ taking the rest of the world. However, the companies continued to trade separately, and RTZ's ownership of CRA dipped below 50% by 1986.<ref name="RT-DLC"/> Strategic needs of the two companies eventually led to conflicts of interest regarding new mining opportunities, and shareholders of both companies determined a merger was in their mutual best interest. In 1995, the companies merged into a ], in which management was consolidated into a single entity and share holder interests were aligned and equivalent, although maintained as shares in separately named entities. The merger also precipitated a name change; after two years as '''RTZ-CRA''', RTZ became '''Rio Tinto plc''' and CRA became '''Rio Tinto Limited''', referred to collectively as '''Rio Tinto Group''' or simply '''Rio Tinto'''.<ref name ="RT-DLC"/>

====Mergers and acquisitions following Consolidated Zinc====
Major acquisitions following the Consolidated Zinc merger included ], a major producer of ], bought in 1968,<ref name="RTWeb"/> ] and BP Australia's coal assets which were bought from ] in 1989 and a 70.7% interest in the ] operations of ] also in 1989.<ref name="RTWeb"/> In 1993, the Company acquired ] and also the United States coal mining businesses of ].<ref name="RTWeb"/>

]

In 2000, Rio Tinto acquired ], an Australian company with ] and ] mines, for $2.8 billion.<ref>
{{cite web
|url=http://www.abc.net.au/pm/stories/s143218.htm
|title=Rio Tinto sets its sights on North Ltd
|work=Radio National
|date=June 23, 2000
|author=Narelle Hooper
|publisher=]
|accessdate=2008-11-10}}
</ref> The takeover was partially motivated as a response to Northern Limited's 1999 bid to have Rio Tinto's Pilbara railway network declared ].<ref name=smh2004>{{cite web
|url=http://www.smh.com.au/articles/2004/06/15/1087244921972.html?from=moreStories
|title=Fortescue tries to prise open access to Pilbara railway line
|work=The Sydney Morning Herald
|author=Mark Drummond
|date=June 16, 2004
|publisher=www.smh.com.au
|accessdate=2008-11-10
}}</ref> The ] regulatory body approved the acquisition in August 2000,<ref>{{cite web
|url=http://www.abc.net.au/pm/stories/s159664.htm
|title=Rio Tinto's bid given the nod by ACCC
|work=Radio National
|date=August 4, 2000
|author=Tanya Nolan
|publisher=Australian Broadcasting Corporation
|accessdate=2008-11-10
}}</ref> and the purchase was completed in October of the same year.<ref>{{cite web
|url=http://findarticles.com/p/articles/mi_m0EIN/is_2000_Oct_10/ai_65901698
|title=Rio Tinto Completes Acquisition of North Limited
|work= Business Wire
|date=October 10, 2000
|publisher=findarticles.com
|accessdate=2008-11-10
}}</ref> That year Rio Tinto also bought ''North Ltd'' and ''Ashton Mining'' for 4 billion USD, adding additional resources in aluminum, iron ore, diamonds, and coal.<ref name="RTWeb"/> In 2001 it bought (under Coal and Allied Industries) the Australian coal businesses of the ].<ref name="RTWeb"/>

On November 14, 2007, Rio Tinto completed its largest acquisition to date<ref name="Chartbook"/>, purchasing ] aluminium company ] for $38.1 billion.<ref name="Alcan-Aq">{{cite web | url=http://www.riotinto.com/media/5157_6881.asp | title= Rio Tinto Completes Acquisition of 100% of Alcan | publisher=Rio Tinto|year=2007| accessdate=2008-01-30| language= English}}</ref> Alcan's chief executive, Dick Evans, leads the new division, which has been renamed ] and its headquarters situated in ].<ref name ="CTV-Alcan-Aq">{{cite web | url=http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20070712/alcan_deal_070712/20070712?hub=TopStories | title= Rio Tinto, Alcan reach US$38.1-billion merger deal | publisher=CTV.ca|year=2007| accessdate=2007-08-08 | language= English}}</ref>

M&A activity in 2008 and 2009 has been focused on divestments of assets to raise cash and refocus on core business opportunities. The company sold three major assets in 2008, raising approximately $3 billion in cash. In the first quarter of 2009 Rio Tinto has reached agreements to sell its interests in the ] iron ore mine and the ] coal mine, and completed sales of an aluminium smelter in China and the company's ] operations, for an additional estimated $2.5 billion.<ref name="Chartbook"/>

===Arrests in China, 2009===
On June 5, 2009, four ] employees, including one ] citizen, were arrested in ] for corruption and espionage.<ref> Sydney Morning Herald - Business Day</ref><ref></ref> One of the arrested, Australian citizen ] was suspected of stealing Chinese state secrets for foreign countries and was detained on criminal charges," according to a spokesman for the Chinese foreign ministry.<ref> - Telegraph UK</ref> Stern Hu has also been accused of bribery by Chinese state officials.<ref></ref>

==Corporate Status==
===Organization===
Rio Tinto is primarily organized into six operational businesses, divided by product type:<ref name="RTMgmt">{{cite web
| title = Management Overview
| work = Rio Tinto web site
| publisher = Rio Tinto
| url = http://www.riotinto.com/whoweare/management_overview.asp
| accessdate = March 5, 2009}}</ref>

*Rio Tinto Copper – copper and byproducts such as ], ], ], and ]; future home of ] operations if developed
*] – aluminium
*Rio Tinto Energy – coal and uranium
*Rio Tinto Diamonds – diamonds
*Rio Tinto Minerals – industrial minerals such as ], ], ] and ]
*Rio Tinto Iron and Titanium – ], ], and ]

These operating groups are supported by separate divisions providing exploration and technology services.<ref name="RTMgmt"/>

====Subsidiaries====
Rio Tinto Group has a complex structure of partly and wholly owned subsidiaries, each held within one of the six operational groups described above. Major subsidiaries include<ref name="RTCompanies">{{cite web
| title = Our Companies
| work = Rio Tinto web site
| publisher = Rio Tinto
| url = http://www.riotinto.com/whatweproduce/218_our_companies.asp
| accessdate = March 5, 2009}}</ref>:

{| class="wikitable sortable"
|+Major Rio Tinto Subsidiaries<ref name="RTCompanies"/>
|-
! Subsidiary !! Ownership Stake !! Main Product !! Location
|-
|] || 51% || Aluminium ] || United Kingdom (Wales)
|-
|] || 100% || Diamonds || Australia (Western Australia)
|-
|] || 100% || Aluminium smelting || Australia (Tasmania)
|-
|]<ref name="BCAR">{{cite web
| title = Bougainville Copper Limited Annual Report 2007
| publisher = Bougainville Copper Limited
| date = 2008
| url = http://www.bcl.com.pg/annual2007.pdf
| format = pdf
| accessdate = March 5, 2009}}</ref> || 53.6% || Copper || Papua New Guinea
|-
|] || 100% || ] || United States (California; Colorado)
|-
|] || 75% || Coal || Australia (New South Wales)
|-
|] || 100% || Iron ore || Brazil
|-
|] || 65% || Salt || Australia (Western Australia)
|-
|]s || 60% || Diamonds || Canada
|-
|] || 68% || Uranium || Australia (Northern Territory)
|-
|] || 30% || Copper || Chile
|-
|] Joint Venture || 40% || Copper || Papua New Guinea
|-
|] (]) || 100% || Iron ore || Australia (Western Australia)
|-
|] || 60% || Iron smelting || Australia (Western Australia)
|-
|] || 59% || Iron ore || Canada
|-
|] || 100% || Land and water rights || United States (Utah)
|-
|] || 100% || Copper || United States (Utah)
|-
|] || 78% || Diamonds || Zimbabwe
|-
|] || 80% || Copper || Australia (New South Wales)
|-
|] || 58% || Copper || South Africa
|-
|] Sorel || 100% || Titanium Dioxide || Canada (Quebec)
|-
|] || 80% || Titanium Dioxide || Madagascar
|-
|] <ref name="RCMedia"> {{cite web
| title = Media Kit
| work = Resolution Copper web site
| publisher = Resolution Copper
| url = http://www.resolutioncopper.com/res/mediacenter/21.html
| format = pdf
| accessdate = March 5, 2009}}</ref> || 55% || Copper || United States (Arizona)
|-
|] || 50% || Titanium Dioxide || South Africa
|-
|] || 100% || Aluminium || Canada
|-
|] || 100% || Coal || Australia
|-
|] || 100% || Coal || United States (Wyoming)
|-
|Robe River (]) || 53% || Iron Ore || Australia (Western Australia)
|-
|] || 69% || Uranium || Namibia
|-
|] || 100% || Talc || France (Toulouse)
|-
|] || 100% || Talc || Australia (Western Australia)
|}

===Stock structure and ownership===
Rio Tinto Group is structured as a ], with listings on both the ] (symbol: RIO) in London under the name '''Rio Tinto Plc'''.<ref name="LSE">{{cite web
| title = Rio Tinto Plc Ord 10P
| work = London Stock Exchange - Detailed Prices
| publisher = London Stock Exchange
| url = http://www.londonstockexchange.com/en-gb/pricesnews/prices/system/detailedprices.htm?sym=GB0007188757GBGBXSET10718875RIO
| accessdate = March 11, 2009}}</ref> and the ] (symbol: RIO) in Sydney under the name '''Rio Tinto Limited'''<ref name="ASE">{{cite web
| title = Rio Tinto Limited (RIO)
| work = ASX Company Information
| publisher = Australian Securities Exchange
| url = http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=RIO
| accessdate = March 11, 2009}}</ref> The dual-listed company structure grants shareholders of the two companies the same proportional economic interests and ownership rights in the consolidated Rio Tinto Group, in such a way as to be equivalent to all shareholders of the two companies actually being shareholders in a single, unified entity. This structure was implemented in order to avoid adverse tax consequences and regulatory burdens. In order to eliminate ] issues, the company's accounts are kept, and ]s paid, in ]s.<ref name="RT-DLC"/>

Rio Tinto is one of the largest companies listed on either exchange. As such, it is included in the widely-quoted indices for each market: the ] of the London Stock Exchange<ref name="LSE"/>, and the ] index of the Australian Securities Exchange.<ref name="ASX200">{{cite web
| title = S&P/ASX 200 Fact Sheet
| publisher = ]
| url = http://www2.standardandpoors.com/spf/pdf/index/SP_ASX_200_Factsheet_A4.pdf
| format = pdf
| accessdate = March 11, 2009}}</ref> LSE-listed shares in Rio Tinto plc can also be traded indirectly on the ] via an ].<ref name="NYSE">{{cite web
| title = Rio Tinto plc
| work = Listings Directory
| publisher = NYSE Euronext
| url = http://www.nyse.com/about/listed/lcddata.html?ticker=RTP
| accessdate = March 11, 2009}}</ref> As of March 4, 2009, Rio Tinto was the fourth-largest publicly listed mining company in the world, with a ] of approximately $34 billion.<ref name="Chartbook">{{cite web|url=http://www.riotinto.com/documents/investors_databook/March_09_Chartbook.pdf|title=Rio Tinto Chartbook|date=March 2009|publisher=Rio Tinto Group|accessdate=2009-04-08}}</ref> As of mid-February 2009, shareholders were geographically distributed 42% in the ], 18% in North America, 16% in Australia, 14% in Asia, and 10% in continental Europe.<ref name="Chartbook"/>

====BHP Billiton bid====
On November 8, 2007, rival mining company ] announced it was seeking to purchase Rio Tinto Group in an all share deal. This offer was rejected by the board of Rio Tinto as "significantly undervalu" the company. Another attempt by BHP Billiton for a ], valuing Rio Tinto at $147 billion, was rejected on the same grounds. Meanwhile, the Chinese Government-owned resources group ] and the US aluminum producer Alcoa purchased 12% of Rio Tinto's London-listed shares in a move that would block or severely complicate BHP Billiton's plans to buy the company.<ref name="Freed-Chalco">{{cite web|url=http://business.smh.com.au/chinese-raid-on-rio-could-thwart-bhp/20080201-1pkr.html|title=Chinese raid on Rio Tinto could thwart BHP|last=Freed|first=Jamie|date=February 1, 2008|work=Sydney Morning Herald|publisher=Fairfax Digital|accessdate=2009-04-10}}</ref><ref name='bbctakeover'>{{cite news | first= | last= | coauthors= | title=BHP makes £120bn Rio bid approach | date=] | publisher=] | url =http://news.bbc.co.uk/1/hi/business/7084946.stm | work =BBC News Online | pages = | accessdate = 2007-11-08 | language = }}</ref> BHP Billiton's bid was withdrawn on November 25, 2008, with the BHP citing market instability from the ].<ref name="Keenan-BHP">{{cite web|url=http://www.bloomberg.com/apps/news?pid=20601087&sid=acb0npgKQrEw&refer=home|title=BHP Withdraws $66 Billion Stock Offer for Rio Tinto|last=Keenan|first=Rebecca|date=November 25, 2008|work=bloomberg.com|publisher=Bloomberg|accessdate=2009-04-10}}</ref>

====Chinalco investment====
On February 1, 2009, Rio Tinto management announced that they were in talks to receive a substantial equity infusion from ], a major ] state-controlled<ref name="Forbes"/> mining enterprise, in exchange for ownership interest in certain assets and bonds. Chinalco is already a major shareholder, having bought up 9% of the company's ownership in a surprise move in early 2008.<ref name="Guardian">{{cite web
| last = Treanor
| first = Jill
| title = Rio Tinto confirms talks over Chinese cash injection
| work = guardion.co.uk
| publisher = Guardian News and Media Limited
| date = February 1, 2009
| url = http://www.guardian.co.uk/business/2009/feb/01/rio-tinto-nears-chinalco-deal
| accessdate = April 7, 2009}}</ref> The proposed investment structure reportedly involves $12.3 billion for the purchase of ownership interests of Rio Tinto assets in its iron ore, copper, and aluminium operations, plus $7.2 billion for ]. The transaction would bring Chinalco's ownership of the company to approximately 18.5%.<ref name="Forbes">{{cite web|url=http://www.forbes.com/2009/04/06/rio-tinto-cash-markets-equity-miners.html|title=Rio Tinto on the Hunt for Cash|last=Espinoza|first=Javier|date=April 6, 2009|work=Forbes.com|publisher=Forbes.com|accessdate=2009-04-07}}</ref> The deal is still pending approval from regulators in the United States, China, and Australia, and has not yet been approved by shareholders, although regulatory has been received from Germany and the ].<ref name="xinhua">{{cite web|url=http://news.xinhuanet.com/english/2009-04/03/content_11124288.htm|title=Chinalco's roadblocks of investment in Rio Tinto Group decreasing |last=Shasha|first=Deng|date=April 3, 2009|work=chinaview.cn|publisher=Xinhua News Agency|language=English|accessdate=2009-04-07}}</ref> The largest barrier to completing the investment may come from Rio Tinto's shareholders: support for the deal by shareholders was never overwhelming and has reportedly declined recently<ref name="WSJ">{{cite web|url=http://online.wsj.com/article/SB123911954518297263.html|title=No Escape from China for Rio Tinto|last=Denning|first=Liam|date=April 7, 2009|work=Wall Street Journal|publisher=Wall Street Journal|accessdate=2009-04-07}}</ref> as other financing options (such as a more traditional bond issuance) are beginning to appear more realistic as a viable alternative funding source.<ref name="Forbes"/><ref name="WSJ"/> A shareholder vote on the proposed deal is expected in the third quarter of 2009.<ref name="WSJ"/>

Rio Tinto is believed to have pursued this combined asset and convertible bond sale to raise cash to satisfy its debt obligations, which require payments of $9.0 billion in October 2009 and $10.5 billion by the end of 2010.<ref name="Forbes"/> The company has also noted China's increasing appetite for commodities, and the potential for increased opportunities to exploit these market trends, as a key factor in recommending the transaction to its shareholders.<ref name="Chartbook"/>

===Management===
] building in ], Australia.]]
Under the company's dual-listed company structure, management powers of the Rio Tinto Group are consolidated in a single senior management group led by a ] and executive committee. The board of directors has both executive and non-executive members, while the executive committee is composed of the heads of major operational groups.<ref name="RTMgmt" />

*'''Board of Directors'''
**''Executive Directors''
***], Chairman
***], Chief Executive Officer
***Guy Elliott, Finance Director
***Dick Evans, Executive Director
**''Non-Executive Directors''
***Sir ]
***]
***Sir ]
***]
***]
***]
***]
***]
***]
***]

==Operations==
Rio Tinto's main business is the production of raw materials including copper, iron ore, coal, bauxite, diamonds, uranium, and industrial minerals including titanium dioxide, talc, salt, gypsum, and borates. Rio Tinto also performs processing on some of these materials, with plants dedicated to processing bauxite into ] and ], and smelting iron ore into ]. The company also produces other metals and minerals as ]s from the processing of its main resources, including ], ], ], ], ], ], ], and ].<ref name="RT-Prod">{{cite web
| title = Our Products
| work = Rio Tinto web site
| publisher = Rio Tinto Group
| url = http://www.riotinto.com/whatweproduce/218_our_products.asp
| accessdate = March 11, 2009}}</ref> Rio Tinto controls gross assets of $81 billion in value across the globe, with main concentrations in Australia (35%), Canada (34%), Europe (13%), and the United States (11%), and smaller holdings in Africa (3%), South America (3%), and Indonesia (1%).<ref name="Chartbook"/>

{| class="wikitable sortable"
|+Summary of 2008 Production<ref name="PR-2008"/>
|-
! Product !! Amount !! World Ranking
|-
| Iron ore || 153,400 thousand ]s || 2nd<ref name="FS-Iron">{{cite web
| title = Iron Ore Fact Sheet
| publisher = Rio Tinto Group
| url = http://www.riotinto.com/documents/ReportsPublications/corpPub_Iron_Ore.pdf
| format = pdf
| accessdate = March 11, 2009}}</ref>
|-
| Bauxite || {{0|0}}34,987 thousand tonnes || 1st<ref name="RT-Prod"/>
|-
| Alumina || {{0|00}}9,009 thousand tonnes || 1st<ref name="RT-Prod"/>
|-
| Aluminium || {{0|00}}4,062 thousand tonnes || 1st<ref name="RT-Prod"/>
|-
| Copper (mined) || {{0|000,}}698.5 thousand tonnes || 4th<ref name="FS-Copper">{{cite web
| title = Copper Fact Sheet
| publisher = Rio Tinto Group
| url = http://www.riotinto.com/documents/ReportsPublications/corpPub_Copper.pdf
| format = pdf
| accessdate = March 11, 2009}}</ref>
|-
| Copper (refined) || {{0|000,}}321.6 thousand tonnes || N/A
|-
| Molybdenum || {{0|000,0}}10.6 thousand tonnes || 3rd<ref name="Roskill">{{cite web
| title = Molybdenum
| work = Roskill Metals and Minerals Reports
| publisher = Roskill Information Services
| date = 2007
| url = http://www.roskill.com/reports/molybdenum
| accessdate = March 11, 2009}}</ref>
|-
| Gold || {{0|000,00}}0.013 thousand tonnes (460,000 ounces) || 7th<ref name="FS-Copper"/>
|-
| Diamonds || {{0|000,00}}0.004 thousand tonnes (20,816,000 ]) || 3rd<ref name="Diamonds">{{cite web
| last = Krawitz
| first = Avi
| title = Rio Tinto 4Q08 Diamond Production -12%
| work = Diamonds.net News
| publisher = Diamonds.net
| date = January 15, 2009
| url = http://www.diamonds.net/news/NewsItem.aspx?ArticleID=24916
| accessdate = March 11, 2009}}</ref>
|-
| Coal || 160,300 thousand tonnes || N/A
|-
| Uranium || {{0|000,00}}6.441 thousand tonnes (14,200,000 ]) || 3rd<ref name="RT-Prod"/>
|-
| Titanium Dioxide || {{0|00}}1,524 thousand tonnes || N/A, but at least 3rd
|-
| Borates || {{0|000,}}610 thousand tonnes || 1st<ref name="RT-Prod"/>
|-
|}

===Copper and byproducts: Rio Tinto Copper===

] of Rio Tinto's subsidiary, Kennecott Utah Copper.]]

Copper was one of Rio Tinto Group's main products from its earliest days operating at the Rio Tinto complex of mines in Spain. Since that time, the company has divested itself from its original Spanish mines, and grown its copper mining capacity through acquisitions of major copper resources around the world. The copper group's main active mining interests are ] in Chile, the ] on Papua New Guinea, ] in the United States, ] in Australia, and ] in South Africa. Most of these mines are joint ventures with other major mining companies, with Rio Tinto's ownership ranging from 30% to 80%; only Kennecott is wholly owned. Operations typically include the mining of ore through to production of 99.99% purified copper, including extraction of economically valuable byproducts.<ref name="RT-copper">{{cite web
| title = Copper
| work = Rio Tinto web site
| publisher = Rio Tinto Group
| url = http://www.riotinto.com/whatweproduce/copper_578.asp
| accessdate = March 12, 2009}}</ref> Together, Rio Tinto's share of copper production at its mines totaled nearly 700,000 ]s, making the company the fourth-largest copper producer in the world.<ref name="FS-Copper"/>

Rio Tinto Copper continues to seek new opportunities for expansion, with major exploration activities at the ] project in the United States, ] in Peru, and ] in Mongolia. In addition, the company is seeking to become a major producer of ], with exploration projects currently underway in the United States and Indonesia.<ref name="RT-copper"/>

Although not the primary focus of Rio Tinto Copper's operations, several economically valuable ]s are produced during the refining of copper ore into purified copper. Gold, silver, molybdenum, and sulfuric acid are all removed from copper ore during processing. Due to the scale of Rio Tinto's copper mining and processing facilities, the company is also a leading producer of these materials, which drive substantial revenues to the company.<ref name="RT-copper"/>

Sales of copper generated 8% of the company's 2008 revenues, and copper and byproduct operations accounted for 16% of underlying earnings.<ref name="Chartbook"/>

===Aluminium and related products: Rio Tinto Alcan===
] in Northumberland, England]]

{{main|Rio Tinto Alcan}}

The Rio Tinto Group has consolidated its aluminium-related businesses in its Rio Tinto Alcan division. Rio Tinto Alcan was formed in late 2007, when Rio Tinto purchased the Canadian company Alcan for $38.1 billion. Combined with Rio Tinto's existing aluminium-related assets, the new Rio Tinto Alcan vaulted to the world number one producer of bauxite, alumina, and aluminium.<ref name="RT-Alum">{{cite web
| title = Alumina, Aluminium and Bauxite
| work = Rio Tinto web site
| publisher = Rio Tinto Group
| url = http://www.riotinto.com/whatweproduce/452_aluminium_577.asp
| accessdate = March 12, 2009}}</ref> Rio Tinto Alcan kept key leadership from Alcan, and the company's headquarters remain in Montreal.<ref name="CTV-Alcan-Aq"/>

] for scale).]]

Rio Tinto Alcan divides its operations into three main business units. The Bauxite and Alumina unit mines raw bauxite from locations in Australia, Brazil, and west Africa. The unit then refines the bauxite into ] at refineries located in Australia, Brazil, Canada, and France. The Primary Metal business unit's operations consist of ] from alumina, with smelters located in 11 countries around the world. The Primary Metal group also operates several power plants in order to support the energy-intensive smelting process. Finally, the Engineered Products unit processes aluminium into derivative products for specialty uses ranging from ] to ] applications.<ref name="RT-Alum"/>

Rio Tinto Alcan has interests in seven bauxite mines and deposits, six alumina refineries and six specialty alumina plants, 26 aluminium smelters, 13 ]s, and 120 facilities for the manufacture of specialty products.<ref name="RT-Alum"/> The acquisition of Alcan operations in 2007 substantially increased Rio Tinto's asset base, revenues and profits: in 2008, 41% of company revenues and 10% of underlying earnings were attributable to Rio Tinto Aclan.<ref name="Chartbook"/>

===Coal and uranium: Rio Tinto Energy===
Rio Tinto Energy is a business group of Rio Tinto dedicated to the mining and sale of ] and ].<ref name="RT-coal">{{cite web
| title = Coal
| work = Rio Tinto web site
| publisher = Rio Tinto Group
| url = http://www.riotinto.com/whatweproduce/coal.asp
| accessdate = March 12, 2009}}</ref>

The company focuses on both fuel coal for electricity generation in ], and ] for use in iron and ]s. The company's coal operations are located in Australia and the United States, mainly operating under its subsidiaries such as ] and ].<ref name="RT-coal"/> In 2009, Rio Tinto was engaged in an ongoing attempt to sell off assets of Rio Tinto Energy America. In March 2009, the company agreed to sell a major asset, the ] coal mine in Wyoming, to ] for $761 million, and is continuing to seek buyers for remaining assets in an effort to reduce corporate debt.<ref name="Bloomberg-coal">{{cite web
| last = Foley
| first = Brett
| last2 = Herlihy
| first2 = Mark
| title = Arch Coal to Buy U.S. Mine From Rio for $761 Million (Update 2)
| publisher = Bloomberg.com
| date = March 9, 2009
| url = http://www.bloomberg.com/apps/news?pid=20601085&sid=aQRIkg28LZxA&refer=europe
| accessdate = March 12, 2009}}</ref>

] of Energy Resources of Australia, a Rio Tinto subsidiary.]]

] ore concentrate).]]

Rio Tinto's uranium operations are located at two mines: the ] of ] and the ] in Namibia. The company is the third-largest producer of uranium in the world. According to Rio Tinto's website, the company institutes strict controls and contractual limitations on uranium exports, limiting uses to peaceful, non-explosive uses only. Such controls are intended to limit use of the company's uranium production to use as fuel for ]s only, and not for use in the production of ]s.<ref name="RT-uranium">{{cite web
| title = Uranium
| work = Rio Tinto web site
| publisher = Rio Tinto Group
| url = http://www.riotinto.com/whatweproduce/452_uranium.asp
| accessdate = March 12, 2009}}</ref> Rio Tinto Energy was responsible for 12% of revenues and 18% of underlying earnings in 2008. <ref name="Chartbook"/>

===Diamonds: Rio Tinto Diamonds===
]
Rio Tinto Diamonds operates three diamond mines: the ] in Western Australia (100% ownership), the ] in the Northwest Territories of Canada (60% ownership), and the ] located in Zimbabwe (78% ownership). Together, these three mines produce 20% of the world's annual production of rough diamonds,<ref name="RTDiamond">{{cite web|url=http://www.riotintodiamonds.com/ENG/ourmines/index_ourmines.asp|title=Rio Tinto's Diamond Mines in Australia, Canada and Africa|work=Rio Tinto Diamonds web site|publisher=Rio Tinto Group|accessdate=2009-03-13}}</ref> making Rio Tinto the world's third-largest producer of mined diamonds<ref name="Diamonds"/>.

The diamond business unit's most advanced exploration project is the ] in Madhya Pradesh, India, where Rio Tinto became the first foreign group to be granted a prospecting license there.<ref name="RTD-Exp">{{cite web|url=http://www.riotintodiamonds.com/ENG/exploration/index_exploration.asp|title=A global diamond exploration portfolio|work=Rio Tinto Diamonds web site|publisher=Rio Tinto Group|accessdate=2009-03-13}}</ref> Rio Tinto Diamonds generated 1% of revenues and earnings for Rio Tinto Group in 2008.<ref name="Chartbook"/>

===Industrial minerals: Rio Tinto Minerals===
].]]
Rio Tinto Minerals is a diverse business group with mining and processing interest in ]s, ], ], and ]. ], with main operations in California and another mine in Argentina, supplies nearly half of the world's annual demand for refined borates, while the company's ] subsidiary supplies 25% of global talc consumption. The Luzenac Group is also the only arm of the company with continuing active mining operations on the European continent: in addition to mines in North America and Australia, the company also operates a talc mine in southern France.<ref name="RT-Europe">{{cite web|url=http://www.riotinto.com/whatweproduce/europe.asp|title=What We Produce: Europe|work=Rio Tinto web site|publisher=Rio Tinto Group|accessdate=2009-03-13}}</ref> The Minerals group is also majority owner of ], which produces over 9 million tonnes of salt and 1.5 million tonnes of gypsum annually from its three facilities in northwest Australia.<ref name="DS">{{cite web
| title = Dampier Salt web site
| url = http://www.dampiersalt.com.au/tnpn002785/prod/dsl/dslhome.nsf
| accessdate = March 12, 2009}}</ref> Rio Tinto Minerals accounted for 6% of company revenues, and contributed 3% to earnings in 2008.<ref name="Chartbook"/>

===Iron products and titanium: Rio Tinto Iron and Titanium===

]

Rio Tinto Iron and Titanium (RTIT) groups together the company's iron and titanium production. Rio Tinto is the world's second-largest supplier of ],<ref name="FS-Iron"/> producing over 153 million tonnes in calendar year 2008.<ref name="PR-2008"/> The company's major iron ore mines and development projects are located in Australia, South America, Canada, India, and Guinea. Major subsidiaries held within RTIT include ], majority interest in the ] mines, and the ].<ref name="RT-Ironore">{{cite web|url=http://www.riotinto.com/whatweproduce/572_iron_ore.asp|title=Our Products: Iron Ore|work=Rio Tinto Group web site|publisher=Rio Tinto Group|accessdate=2009-03-13}}</ref> The company also has smelting facilities for the production of iron and steel, limited in size in comparison to the massive amount of iron ore produced, at ] in Canada<ref name="QIT-Fer">{{cite web
| title = QIT-Fer et Titane
| work = QIT-Fer et Titane web site
| publisher = QIT-Fer et Titane
| url = http://www.qit.com/eng/index.asp
| accessdate = March 11, 2009}}</ref> and ] in Australia.<ref name="RT-Ironore"/>

Titanium dioxide is mined at three locations in Canada, South Africa, and Madagascar, and refined at QIT-Fer et Titane's Canadian facilities.<ref name="QIT-Fer"/> Major subsidiaries include ] of South Africa and ].<ref name="RT-Titanium">{{cite web|url=http://www.riotinto.com/whatweproduce/452_titanium_dioxide.asp|title=Our Products: Titanium Dioxide|work=Rio Tinto Group web site|publisher=Rio Tinto Group|accessdate=2009-03-13}}</ref> In 2008, Rio Tinto produced 1.524 million tonnes of titanium dioxide<ref name="PR-2008"/>, or approximately 27% of the estimated global production of 5.6 million tonnes.<ref>{{cite web|url=http://digital50.com/news/72931|title=Global Titanium Dioxide Capacity May Rich 7,5 mln tons/year by 2015|date=February 10, 2009|publisher=Business Wire|accessdate=2009-03-13}}</ref>

Rio Tinto Iron and Titanium generated a large portion of the company's revenues and earnings in 2008, accounting for 27% and 52%, respectively, of company-wide operating results.<ref name="Chartbook"/>

==Financial results==
Rio Tinto Group's revenues and earnings have grown substantially in the 2003 - 2008 time period, with the largest increase attributable to the company's 2007 acquisition of Alcan. Although operating margin is significantly impacted by the market prices of the various commodities it produces, Rio Tinto has remained profitable over its recent history and consistently generated positive cash flows from operations.<ref name ="Chartbook"/>

{| class = "wikitable"
|+Earnings data (in US$ millions)<ref name="Chartbook"/>
|-
! !!2003 !!2004 !!2005 !!2006 !!2007 !!2008
|-
| Gross Sales Revenue||{{0|0}}9,228 ||14,530 ||20,742 ||25,440 ||33,518 ||58,065
|-
| Underlying Profit Before Tax||{{0|0}}1,968 ||{{0|0}}3,017 ||{{0|0}}7,094 ||{{0|0}}9,719 ||{{0|0}}9,947 ||15,977
|-
| Underlying Net Earnings||{{0|0}}1,382 ||{{0|0}}2,272 ||{{0|0}}4,955 ||{{0|0}}7,338 ||{{0|0}}7,443 ||10,303
|-
| Cash Flow From Operations||{{0|0}}3,486 ||{{0|0}}4,452 ||{{0|0}}8,257 ||10,923 ||12,569 ||20,668
|-
| Operating Margin||{{0|00}}19%||{{0|00}}24%||{{0|00}}37%||{{0|00}}42%||{{0|00}}34%||{{0|00}}32%
|}

The company's previously conservative balance sheet has been adversely impacted by large amount of debt taken on to finance the Alcan acquisition. The upcoming maturities of $9 billion in 2009 and $10.5 billion by the end of 2010 have driven the company to seek to raise cash through a combination of asset sales and equity infusions.<ref name="Forbes"/> Since the beginning of 2008, the company has completed or agreed upon $5.5 billion in asset sales, and is seeking a combined asset sale / equity infusion deal with Chinalco to raise an additional $19.5 billion.<ref name="Chartbook"/>

{| class = "wikitable"
|+Summary balance sheet data (in US$ millions)<ref name="Chartbook"/>
|-
!!!2003 !!2004 !!2005 !!2006 !!2007 !!2008
|-
| Fixed Assets||19,418 ||20,131 ||20,848 ||25,803 ||75,888 ||67,651
|-
| Other Assets Less Liabilities||{{0|0}}1,804 ||{{0|0}}2,356 ||{{0|0}}2,587 ||{{0|0}}3,026 ||11,609 ||{{0|0}}8,469
|-
| Net Debt||{{0|0}}5,646 ||{{0|0}}3,809 ||{{0|0}}1,313 ||{{0|0}}2,437 ||45,191 ||38,672
|-
| Other Liabilities and Outside Shareholder's Interest||{{0|0}}5,539 ||{{0|0}}6,801 ||{{0|0}}7,174 ||{{0|0}}8,160 ||17,534 ||16,810
|-
| Shareholder's Equity||10,037 ||11,877 ||14,948 ||18,232 ||24,772 ||20,638
|}

]s on an investment in Rio Tinto's stock have outperformed the industry-benchmark ] Global Mining Index by 2.0% per annum since 1990. Annual dividends have increased from $0.60 per share in 2002 to $1.36 per share in 2008. Annual dividends have been equal to or greater than the preceding year's dividends in each year since 1975.<ref name="Chartbook"/>

==Public impact==
===Involvement with Axis powers in World War II===
Rio Tinto's status as a mainly British-owned company, located in Spain and producing pyrites – an important material for military applications – created a complicated set of circumstances for the company's operation in the 1930s and 1940s. During the ], the region in which Rio Tinto's mines were located came under the control of ]'s nationalists in 1936. Business generally preferred the nationalists' economic policies to those of their left-leaning republican adversaries, as was famously noted in Geddes' approving comment to Rio Tinto shareholders that "miners found guilty of troublemaking are court-marshalled and shot". However, Franco increasingly intervened in the company's operations, at times requisitioning pyrite supplies for use by Spain and its ] allies Germany and Italy, forcing price controls on the company's production, restricting exports, and threatening nationalization of the mines. Although company management (and indirectly, the British government) managed to counteract some of these efforts by Franco, much of the mine's pyrite production was channeled to Axis powers before and during ]. Nonetheless, Franco's meddling caused the mine's production and profitability to fall precipitously during and after the war, leading the company to ultimately exit from its Spanish operations in 1954.<ref name="Kutney">{{cite book|last=Kutney|first=Dr. Gerald|title=Sulfur: History, Technology, Applications & Industry|publisher=ChemTec Publishing|date=2007|pages=260|isbn=1895198372, 9781895198379|url=http://books.google.com/books?id=O4rzzkUQyzIC|accessdate=April 9, 2009|language=English}}</ref>

===Criticisms===
====Environment====
Rio Tinto Group, like many other companies in extractive industries, has been widely targeted by environmentalist groups for its mining activities. Opposition to the company focuses on its mining methods due to environmental degradation, the company's coal operations for their contribution to ], and uranium operations for environmental and nuclear technology concerns.

]

Perhaps the most significant environmental criticism to date has come from the ], which divested itself from Rio Tinto shares and banned further investment due to environmental concerns. Claims of severe environmental damages related to Rio Tinto's engagement in the ] in Indonesia led ] to exclude Rio Tinto from its investment portfolio. The fund, which is said to be the world's second-largest pension fund, sold shares in the company valued at {{NOK|4.85 billion}} (US$ 855 million) to avoid contributing to environmental damages caused by the company.<ref>{{cite web |url=http://www.regjeringen.no/en/dep/fin/Press-Center/Press-releases/2008/the-government-pension-fund-divests-its-.html?id=526030&epslanguage=EN-GB| title=The Government Pension Fund divests its holdings in mining company |author=] |date=2008-09-09 |language=English}}</ref>
{{Cquote|Exclusion of a company from the Fund reflects our unwillingness to run an unacceptable risk of contributing to grossly unethical conduct. The Council on Ethics has concluded that Rio Tinto is directly involved, through its participation in the Grasberg mine in Indonesia, in the severe environmental damage caused by that mining operation.<ref name='R000009'>{{cite news | first= | last= | coauthors= | title=Ethical business: Norway ejects mining giant Rio from its pension portfolio | date=2008-09-09 | publisher= | url =http://www.guardian.co.uk/business/2008/sep/09/riotinto.ethicalbusiness | work =] | pages = | accessdate = 2008-09-10 | language = }}</ref>|250|50|], ]}}

Rio Tinto disputes the claims of environmental damage at the Grasberg mine, and states that the company has long maintained an excellent record on environmental issues.<ref name="BBC-env">{{cite web|url=http://news.bbc.co.uk/2/hi/business/7608097.stm|title=Norway blacklists miner Rio Tinto|date=September 10, 2008|work=BBC News|publisher=BBC|accessdate=2009-04-09}}</ref>

====Labour and human rights====
Safety and labour rights concerns have been raised against Rio Tinto by unions and political action groups, in particular the ] (CFMEU). The CFMEU ran a campaign against the company after it tried to de-unionise its workforce after the introduction of the ]'s ].

Activist groups have also expressed concern regarding Rio Tinto's operations in Papua New Guinea, which they allege were one catalyst of the ].<ref>{{cite journal|last=See Lea|first=David|date=1999|title=Corporate and Public Responsibility, Stakeholder Theory and the Developing World|journal=Business Ethics: A European Review|volume=8|issue=3|pages=151-162}}</ref> The British anti-poverty charity ] has also criticised Rio Tinto for its complicity in the serious human rights violations which have been occurred near the mines it operates in Indonesia, West Papua and Papua New Guinea.<ref name="War on Want">{{cite web|url=http://www.waronwant.org/attachments/Fanning%20the%20Flames.pdf|title=Fanning the Flames|last=Curtis|first=mark|date=November 2007|work=Fanning the Flames|publisher=War on Want|accessdate=2009-04-10}}</ref>

Rio Tinto is not, however, universally condemned for its ethical behavior. The company has won an award for ethical behavior, the Worldaware Award for Sustainable Development in 1993.<ref name="Worldaware-Tate">{{cite web|url=http://www.worldaware.org.uk/awards/awards1993/riotinto.html|title=Tate and Lyle Award for Sustainable Development|date=1993|publisher=Worldaware|accessdate=2009-04-10}}</ref> The award, although given by an independent committee, is sponsored by another multinational corporation (in this case, the sponsor was ]). Rio Tinto has, in turn, sponsored its own WorldAware award, the Rio Tinto Award for Long-term Commitment.<ref name="RT-Worldaware">{{cite web|url=http://www.worldaware.org.uk/awards/awards1999/shell.html|title=The Rio Tinto Award for Long-Term Commitment|date=1999|publisher=Worldaware|accessdate=2009-04-10}}</ref> The British charity Worldaware ceased to exist in March 2005. <ref>http://www.worldaware.org.uk/about/index.html</ref>

==References==
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==External links==
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{{Companies portal}}
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Revision as of 11:11, 14 July 2009

ja bagwell ja Www.microsemi.com ja ja ja ja ja ja thats how bagwell punches on prison break ja jaj jaj



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