Rio Tinto plc - RIO STOCK NEWS

Rio Tinto has announced the pricing of US$650 million in 10-year and US$1.1 billion in 30-year fixed rate debt securities, both registered with the SEC. The 10-year notes will yield 5.000% and mature on March 9, 2033, while the 30-year notes will have a coupon rate of 5.125% maturing on March 9, 2053. The securities will be issued by Rio Tinto Finance (USA) plc, guaranteed by Rio Tinto plc and Rio Tinto Limited. Deutsche Bank, J.P. Morgan, and others acted as joint book-running managers for the offering, enhancing Rio Tinto’s capital structure and providing additional liquidity.

Rio Tinto has settled a U.S. Securities and Exchange Commission (SEC) investigation, agreeing to pay a $15 million penalty over violations related to the Foreign Corrupt Practices Act (FCPA). The investigation concerned payments made to a former consultant for the Simandou project in Guinea in 2011. While the company does not admit to any wrongdoing, CEO Dominic Barton emphasized the company’s commitment to integrity and enhancing compliance programs. This resolution allows Rio Tinto to move forward and focus on its operations without ongoing legal distractions.

Rio Tinto has launched a recruitment campaign for university graduates in Australia and New Zealand, aiming to fill approximately 150 roles in its two-year Graduate Development Program commencing in early 2024. This initiative is part of a global effort to recruit 300 graduates across various disciplines including engineering and data science. Last year, the program welcomed 261 graduates, with a significant percentage being women and Indigenous Australians. The program has been recognized as the “Most Popular Mining & Energy Employer” in Australia for the second consecutive year, highlighting Rio Tinto’s commitment to fostering young talent and addressing environmental challenges.

Rio Tinto reports improved operational performance in 2022, with record results in its Pilbara iron ore mine and rail system. The company achieved an underlying EBITDA of $26.3 billion, free cash flow of $9.0 billion, and underlying earnings of $13.3 billion. A total dividend of $8.0 billion was paid, reflecting a 60% payout ratio. Investments included doubling its stake in the Oyu Tolgoi copper-gold project in Mongolia and developing the Rincon Lithium Project in Argentina. However, net earnings fell 41% to $12.4 billion, impacted by lower commodity prices and higher operational costs.

Rio Tinto (LSE: RIO) has partnered with the BMW Group to provide responsibly sourced aluminum for BMW's vehicles starting in 2024. This collaboration aims to enhance sustainability within the automotive supply chain, focusing on low-carbon solutions. The partnership will utilize aluminum from Rio's hydro-powered operations in Canada, potentially reducing CO2 emissions by up to 70% compared to conventional aluminum production. The agreement utilizes ELYSIS™, a groundbreaking carbon-free smelting technology. Both companies are dedicated to implementing supply chain traceability through Rio Tinto's START program, ensuring compliance with environmental and social governance standards.

Rio Tinto has partnered with Marubeni Corporation under a new Collaboration Agreement to supply Responsible Aluminium products to Japanese manufacturers. The initial sale involves RenewAl^TM high purity aluminium from New Zealand Aluminium Smelters to a prominent motorcycle manufacturer focused on carbon emission reduction. This agreement, the first in Japan, aims to help companies meet ESG goals and ensure a secure supply amidst rising supply chain risks. Both companies emphasize sustainable practices and transparency, with Marubeni's Neutr-Al^TM carbon credit mechanism enhancing environmental responsibility.

Rio Tinto has expressed gratitude to Western Australia’s Department of Fire and Emergency Services and other agencies for successfully locating a missing capsule that was lost during transit from its Gudai-Darri iron ore mine. The Iron Ore Chief Executive, Simon Trott, acknowledged the remarkable effort of the search teams and apologized to the community for the incident. He confirmed that a thorough investigation will be conducted to assess the processes related to the handling of radioactive materials, which the capsule is a part of. The gauge, used in the mining industry, was reported lost on January 12.

The Naskapi Nation of Kawawachikamach and the Iron Ore Company of Canada (IOC) have signed the 'Aganow' agreement, emphasizing collaboration and trust. This agreement focuses on enhancing Naskapi participation in IOC's operations through training, employment, and environmental project collaboration. It aims to promote Naskapi culture and provide long-term financial benefits. IOC expressed regret for past misunderstandings and highlighted previous cooperative projects, including fiber optic installation and a caribou farm study. The partnership seeks to facilitate reconciliation and improve the quality of life for the Naskapi people.