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Rio Tinto Group (RIO) is a global leader in mining and metals, providing essential materials for industries worldwide. This dedicated news hub offers investors and industry professionals centralized access to official press releases, financial updates, and operational developments.
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On March 2, 2021, the Australian Taxation Office (ATO) issued amended assessments to Rio Tinto regarding denied interest deductions linked to a 2015 dividend payment. The ATO imposed penalties of A$352 million (US$257.9 million) while reducing the original interest assessment to A$27 million (US$19.8 million). Rio Tinto plans to dispute these assessments, having already paid 50% of the primary tax as part of the objections process. The company reported paying over A$8.4 billion (US$6.4 billion) in Australian income tax during the relevant period.
Rio Tinto has partnered with Caterpillar to develop zero-emissions autonomous haul trucks for its Western Australian mining operations. This agreement focuses on the Caterpillar 793 zero-emissions truck, with the first operational deployment expected at the Gudai-Darri iron ore mine. Rio Tinto aims to achieve net-zero emissions and enhance sustainability through this collaboration. The project includes milestones for prototype testing and trials, reflective of Rio Tinto's commitment to innovative solutions in mining.
Rio Tinto has initiated the process to restart operations at Richards Bay Minerals in South Africa following improved security conditions. The decision is supported by local and national governments, along with dialogue with community stakeholders. Rio Tinto's CEO, Sinead Kaufman, emphasized the focus on safety and security amid the operational suspension. The full impact of the operational halt remains to be assessed, and a force majeure on customer contracts is still active.
Rio Tinto has partnered with Heliogen to implement advanced solar technology at its borates mine in Boron, California. This collaboration, formalized through a Memorandum of Understanding, aims to generate and store carbon-free energy for the mine's operations, potentially reducing emissions by approximately 7%—equivalent to removing over 5,000 cars from the road. Rio Tinto plans to invest around $1 billion in emissions reduction by 2025, exploring the technology's broader applications to further decrease its carbon footprint across its global operations.
Rio Tinto is investing $20 million to support the construction of a new hospital in Tom Price, Western Australia. This initiative, in partnership with the state government, aims to replace the current 54-year-old hospital with a modern facility featuring an emergency department and telehealth technology to connect local residents with specialists in Perth. The project highlights Rio Tinto's commitment to enhancing local infrastructure and healthcare services in the Pilbara region, ensuring that communities have access to improved medical care.
