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Rio Tinto: World
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BHP Billiton, CVRD and Rio Tinto are the three largest iron ore exporters in the world. CVRD are furthest from the Chinese markets in Brazil. Freight costs are less for Chilean exporters by about US$6-$8 per tonne at spot. To give an indication of prices, set out below is the latest price negotiation from CVRD.
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Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, energy (coal and uranium), gold, industrial minerals (borax, titanium dioxide, salt, talc) and iron ore. Activities span the world but are strongly represented in Australia and North America with significant businesses in South America , Asia, Europe and southern Africa .
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Rio Tinto has operations in 40 countries around the world, employing more than 34,000 people with net earnings of $1.2 billion last year in an industry with high environmental and health impacts. Although they have apparently made steps toward promoting sustainable development, their worldwide operations have left a record of labor and human rights abuses in their wake.
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BP and Rio Tinto today announced the formation of a new jointly-owned company, Hydrogen Energy, which will develop decarbonised energy projects around the world. The venture will initially focus on hydrogen-fuelled power generation, using fossil fuels and carbon capture and storage (CCS) technology to produce new large-scale supplies of clean electricity.
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Arising out of the midst of the surrounding greenery, the giant opencast mines of Rio Tinto create a surreal, almost lunar landscape. The removal of layer upon layer of soil and rock, in the search for iron ore, copper, silver and a host of other mineral ores, has tinted this part of the world in hues of dusty pink, brown, yellow, red and grey. So great is the scale of operations, that the depression created resembles a man-made crater that measures several kilometres across. From the edge of the 'crater', a giant space opens up before you, and the trucks at work far below appear toy-sized when in reality most are the size of a house.
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At the annual meeting in London today, Rio Tinto shareholders considered two resolutions designed to address the checkered human rights record of the world's largest private mining company. Institutional investors with over $40 billion in assets are supporting these resolutions, the first international shareholder campaign with trade unions from several countries taking on a single corporation.
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