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Rio Tinto Group plans to expand its marketing operations to trade more metal from other producers as well as derivatives, according to people familiar with its strategy. This move is part of a drive by its new leader to make the business more agile.
Rio Tinto Group agreed to acquire the Aurukun bauxite project in Australia’s northeast from Glencore Plc and Mitsubishi Development Pty Ltd., according to a statement from the global miner.
China’s state-backed iron ore buyer has told some steel mills to hold off on purchases of Rio Tinto Group’s Pilbara Blend, as contract talks with the Australian miner reach a critical point.
Rob McEwen’s copper venture is in talks with Rio Tinto Group and other potential investors as it seeks a total of $4 billion in financing to build a mine in Argentina.
The owners of Australia’s biggest aluminum smelter, including Rio Tinto Group, are set to receive a government bailout to keep the plant operating as it grapples with high energy costs, according to people familiar with the matter.
Rio Tinto has posted a 43 per cent jump in profit over the first six months of the year, driven by high commodity prices and the uncertainty from the Middle East conflict.
Simon Trott, CEO of Rio Tinto, stated that iron ore demand remains resilient and stable. He shared these insights during an interview on 'Insight with Haslinda Amin.'
Rio Tinto has reported a significant increase in earnings, attributing this success to effective cost-cutting measures and heightened demand for metals driven by investments in data centers. The miner expressed optimism about the future, highlighting the growing need for commodities as a result of advancements in artificial intelligence.
Rio Tinto Group will double down on efforts to cut costs and build cash by boosting productivity and selling non-core assets after posting a jump in profit for the first half on the back of strong commodity prices.
Rio Tinto Group posted a rise in first-half profit as strong commodity prices outweighed the impact of China’s economic slowdown, US tariff campaigns and conflict in the Middle East.
Prysmian, Rio Tinto partner to bring low-carbon aluminum to Amazon data center
Rio Tinto to acquire Aurukun bauxite project from Glencore, Mitsubishi Development
Greater regulatory scrutiny no bar to mining mergers, bosses say
Australia commits $1.76 billion to keep Rio Tinto aluminium smelter open
Rio Tinto's First-Half Profit Rises 47%, Raises Interim Dividend
Rio Tinto sees lithium as fastest-growing division, executive says