Rio Tinto has agreed to pay $138.75 million to settle a lawsuit that accused the miner of defrauding investors by concealing problems with its underground expansion of the Oyu Tolgoi copper-gold mine in Mongolia, reported Reuters. The lawsuit sought damages on behalf of shareholders of Turquoise Hill Resources between July 2018 and July 2019, when it was majority-owned by Rio…
Read More
Rio Tinto is investing C$7.6 million in an industrial demonstration project to assess the integration of technology that will allow the sorting of ore directly at the source based on titanium and scandium content at its Lac Tio mine located near Havre-Saint-Pierre, Canada. Full story.
Read More
The board of directors for Oyu Tolgoi LLC has approved development work at the Mongolian copper mine to commence under an alternative plan, while engagement continues with Entrée Resources and the government on the transfer of licences to allow mining in a joint venture area.
Read More
Rio Tinto and the Puutu Kunti Kurrama and Pinikura (PKKP) Aboriginal Corporation have signed a co-management agreement for the iron ore operations on PKKP Country. It formalises how the miner and Traditional Owners engage on proposals affecting heritage and social surroundings throughout the mine lifecycle. “The destruction of the Juukan Gorge rock shelters on the 24th of May 2020 brought…
Read MoreThe U.S. Supreme Court has declined to hear a Native American group’s case to block a land swap for the Resolution Copper project in Arizona, reported Reuters. The government is now free to start a process that would give Rio Tinto and BHP access to the land. Full story.
Read More
After four years at the helm, Rio Tinto Chief Executive Jakob Stausholm will be stepping down later this year. The miner said “a rigorous selection process is already underway” to find his successor. Full story.
Read More
A U.S. federal judge has temporarily blocked the Trump administration from transferring land to Rio Tinto and BHP for their Resolution copper mine in Arizona, citing the Supreme Court’s ongoing deliberations in the complex case, reported Reuters. Full story.
Read More
Rio Tinto and Sumitomo Metal Mining have signed the final joint venture agreements to deliver the Winu copper-gold project in Western Australia following a December announcement of the partnership. Under the agreements, Rio Tinto will continue to develop and operate Winu, and Sumitomo will pay Rio Tinto up to $430.4 million for a 30% equity share of the project. This…
Read More
Rio Tinto’s Diavik diamond mine has been awarded the Towards Sustainable Mining (TSM) Environmental Excellence Award for its solar power plant – the largest off-grid solar installation in Canada’s territories. Full story.
Read More
Thanks to an investment of A$150 million to purchase 100 locally built rail cars, Rio Tinto is helping to boost domestic manufacturing in Western Australia through a partnership with Gemco Rail and CRRC Qiqihar Rolling Stock Co. The miner said Gemco Rail is using advanced engineering and manufacturing expertise, alongside robotic welding technologies, to create rail cars that will each…
Read More