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Rio Tinto (RIO)

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idpickering
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Re: Rio Tinto (RIO)

#442880

Postby idpickering » September 17th, 2021, 7:17 am

Notice of dividend currency exchange rates - 2021 interim and special dividends

On 28 July 2021, Rio Tinto announced an interim dividend of 376.00 US cents per share and a special dividend of 185.00 US cents per share for the half year ended 30 June 2021, with Rio Tinto Limited shareholders to be paid:

· an interim dividend of 509.42 Australian cents per ordinary share; and

· a special dividend of 250.64 Australian cents per ordinary share;

and Rio Tinto plc shareholders to be paid:

· an interim dividend of 270.84 British pence per ordinary share; and

· a special dividend of 133.26 British pence per ordinary share.

American Depositary Receipt (ADR) holders will receive the dividends in US dollars as announced on 28 July 2021.

The currency exchange rates which apply to Rio Tinto Limited shareholders who elect to receive the interim and special dividend in pounds sterling and Rio Tinto plc shareholders who elect to receive the interim and special dividend in Australian dollars are the currency exchange rates applicable on 16 September 2021, being five business days prior to the dividend payment date.

This announcement confirms the currency exchange rates applicable for the 2021 interim and special dividends for shareholders who have made a currency election:


https://www.investegate.co.uk/rio-tinto ... 00040804M/

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Re: Rio Tinto (RIO)

#443089

Postby tjh290633 » September 17th, 2021, 4:56 pm

Note that the rates in the RNS (not quoted above), are for those who do not wish to receive the standard currency from their shares, i.e. Rio Tinto Ltd in GBp, or Rio Tinto plc in AUc.

TJH

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Re: Rio Tinto (RIO)

#446500

Postby idpickering » September 30th, 2021, 9:39 am

Rio Tinto publishes first Communities and Social Performance report

Rio Tinto has published its first report on progress in improving Communities and Social Performance (CSP) practices, as the company works to rebuild trust and relationships with Traditional Owners following the destruction of the Juukan Gorge rock shelters in Western Australia.

As part of efforts to increase transparency in its approach to cultural heritage protection, Rio Tinto has engaged with investors to develop reporting that details the company's work to improve its CSP practices and outcomes.

The report details progress made to 30 July 2021 in areas such as Traditional Owner partnerships and agreement modernisation in Western Australia; the introduction of new CSP structures and practices across the company; improved governance; and increasing social expertise within the business.

Importantly, it includes direct feedback from Traditional Owner groups regarding commitments made by the company as part of the Board Review of Cultural Heritage Management in August 2020.

Rio Tinto Chief Executive Jakob Stausholm said "We are working hard to rebuild trust and meaningful relationships with the Puutu Kunti Kurrama and Pinikura (PKKP) people and other Traditional Owners across Australia. We understand this will take time and consistent effort, but our absolute focus is on improving our engagement with Indigenous Peoples and host communities so that we can better understand their priorities and concerns, minimise our impacts, and responsibly manage cultural heritage.

"We thank those Traditional Owners who generously shared their feedback and perspectives. While their insights confirm we have much more to do, feedback like this is vital to shaping relationships that are respectful, genuine and inclusive.


https://www.investegate.co.uk/rio-tinto ... 00124639N/

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Re: Rio Tinto (RIO)

#450247

Postby idpickering » October 15th, 2021, 6:02 am

Rio Tinto releases third quarter production results

Rio Tinto Chief Executive Jakob Stausholm, said: “The third quarter has demonstrated the resilience of our people in dealing with ongoing COVID-19 challenges. It has been another difficult quarter operationally and despite improving versus the prior quarter, we recognise the opportunity to raise our performance. We have consequently modestly adjusted our guidance.

“We are progressing against our four pillars and striving to make Rio Tinto even stronger, notably to become the best operator. This will ensure we continue to deliver attractive returns to shareholders, invest in sustaining and growing our portfolio, and make a broader contribution to society, particularly in relation to the drive to net-zero carbon emissions."

Q3 operational highlights and other key announcements

• We continue to prioritise the safety of our people and communities as we learn to live with COVID-19. Our all injury frequency rate (AIFR) of 0.37 has seen an increase versus the third quarter of 2020 (0.35), but an improvement against the prior quarter (0.39).
• We now expect Pilbara shipments to be 320 to 325 million tonnes (previously at the low end of 325 to 340 million tonnes) following modest delays to completion of the new greenfield mine at Gudai-Darri and the Robe Valley brownfield mine replacement project due to the tight labour market in Western Australia. Iron Ore Company of Canada (IOC) pellets and concentrate full year guidance has been reduced to 9.5 to 10.5 million tonnes (previously 10.5 to 12.0 million tonnes). Refined copper guidance has been reduced to 190 to 210 thousand tonnes (previously 210 to 250 thousand tonnes) due to an incident at the Kennecott smelter in September. We made small adjustments to bauxite and mined copper, and reintroduced guidance for titanium dioxide following resumption of operations at Richards Bay Minerals (RBM) in South Africa.
• Pilbara shipments in the third quarter were 83.4 million tonnes (100% basis), 9% higher than the prior quarter and 2% higher than the third quarter of 2020. Pilbara iron ore production of 83.3 million tonnes (100% basis) was 4% lower than the third quarter of 2020 due to heritage management, brownfield mine replacement tie-ins and project completion delays. This also resulted in an increase of SP10 production in the third quarter that will continue into the fourth quarter.
• Bauxite production of 14.0 million tonnes was 3% lower than the third quarter of 2020 due to equipment reliability issues and overruns on planned shutdowns at our Pacific operations.
• Aluminium production of 0.8 million tonnes was 3% lower than the third quarter of 2020, due to strike action at the Kitimat smelter. On 2 October, we reached a new Collective Labour Agreement for our British Columbia operations, which includes the Kitimat smelter and the Kemano hydropower facility. The smelter will steadily ramp up following a period of reduced production due to industrial activity.
• Mined copper production of 125.2 thousand tonnes was 3% lower than the third quarter of 2020 due to lower recoveries and throughput at Escondida as a result of the prolonged impact of COVID-19, partly offset by higher recovery and grade at Kennecott in Utah and improved performance and increased mill feed at Oyu Tolgoi.
• On 22 July, we announced the approval of a $108 million investment to investigate the feasibility of an underground mine below the existing open pit at Kennecott. Infrastructure from previous underground projects will be extended to access the North Rim Skarn orebody, allowing for the development of crosscuts and further drilling of the resource. Potential underground mining would occur concurrently with open pit operations and result in increased copper output.
• Titanium dioxide slag production of 209 thousand tonnes was 29% lower than the third quarter of 2020. On 24 August, RBM in South Africa resumed operations following stabilisation of the security situation, supported by the national and provincial government, as well as substantive engagement with host communities and their traditional authorities.
• Production of pellets and concentrate at IOC was 8% lower than the third quarter of 2020 due to labour and equipment availability issues impacting product feed. The annual planned concentrator shutdown was completed in September.
• At the Oyu Tolgoi underground project in Mongolia, as a result of COVID-19 impacts and outstanding non-technical undercut criteria, first sustainable production will be no earlier than January 2023 (previously October 2022), subject to the timing of commencement of the undercut. The full impact on the cost of the integrated project is subject to further analysis once we have clarity on the timeline around the completion of the undercut criteria and ongoing COVID-19 restrictions.
• On 27 July, we committed funding of $2.4 billion to the Jadar lithium-borates project in Serbia, subject to receiving all relevant approvals, permits and licences and ongoing engagement with local communities, the Government of Serbia and civil society.
• On 16 September, we made a statement regarding the Australian Taxation Office (ATO) issuing Rio Tinto Limited with penalty assessments in respect of the amended assessments issued on 2 March 2021 related to the denial of interest deductions on an isolated borrowing used to pay an intragroup dividend in 2015. We are confident of our position and have disputed the primary tax and penalty assessments. In accordance with the usual practice, we have paid 50% of the primary tax up-front as part of the objections process.
• In the third quarter, we entered into three partnerships to progress our work to decarbonise our value chain. These include one with Komatsu to fast-track the development and implementation of zero-emission mining haulage solutions, one with Sumitomo Corporation to study the construction of a hydrogen pilot plant at our Yarwun alumina refinery in Gladstone, Queensland, and one with Caterpillar for the development of zero-emissions autonomous haul trucks for use at one of our Western Australian mining operations.


https://www.riotinto.com/news/releases/ ... on-results

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Re: Rio Tinto (RIO)

#450315

Postby absolutezero » October 15th, 2021, 11:12 am

The market has given it a big fat 'meh'.
Down 1.6% as I type.
Nothing to see here!

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Re: Rio Tinto (RIO)

#450344

Postby Bouleversee » October 15th, 2021, 1:04 pm

All my fault. I topped up earlier in the year since when they have gone downhill. Hopefully, they will recover.

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Re: Rio Tinto (RIO)

#451492

Postby idpickering » October 20th, 2021, 7:19 am

Rio Tinto to strengthen performance, decarbonise and grow

Today, Rio Tinto is outlining the actions being taken to strengthen the business and improve performance. It is also unveiling a longer-term strategy to ensure it thrives in a decarbonising world and continues to deliver attractive shareholder returns, in line with its policy.

The deployment of the Rio Tinto Safe Production System is underway to ensure the Group regains its position as Best Operator. The Group is combining systematic long-term programmes with rapid improvement activities targeted at bottlenecks in order to reduce operational variability and increase resilience.

Governments are setting more ambitious targets and accelerating actions on climate change. Society at large is also demanding companies take more action to decarbonise. To meet the challenge, stay relevant and capture the opportunity Rio Tinto is raising its ambition and taking actions.

The Group is unveiling a new target to reduce its Scope 1 & 2 carbon emissions by 50 per cent by 2030, more than tripling its previous target. A 15 per cent reduction in emissions is now targeted for 2025, five years earlier than previously. These targets are supported by around $7.5 billion of direct investments to lower emissions between 2022 and 2030.

In recognition of the broader carbon footprint of the commodities it produces, Rio Tinto will accelerate its investment in R&D and development of technologies that enable its customers to decarbonise. Working in partnership with governments, suppliers, customers, academia and others Rio Tinto will continue to develop technologies like ELYSISTM for carbon-free aluminium and multiple pathways to produce green steel.

To meet additional demand created by the global drive to net zero emissions, Rio Tinto will prioritise growth capital in commodities vital for this transition with an ambition to double growth capex to about $3 billion a year from 2023.

Rio Tinto can decarbonise, pursue growth and continue to deliver attractive returns to shareholders due to its strong balance sheet, world-class assets and focus on capital discipline.

Rio Tinto Chief Executive Jakob Stausholm said "Rio Tinto is taking action to strengthen our business and improve our performance by unleashing the full potential of our people and assets, working in partnership with a broad range of stakeholders.


https://www.investegate.co.uk/rio-tinto ... 00076409P/

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Re: Rio Tinto (RIO)

#451699

Postby monabri » October 20th, 2021, 3:31 pm

https://www.investegate.co.uk/rio-tinto ... 00504519P/

What's he playing at...one day before an investors seminar! :roll:

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Re: Rio Tinto (RIO)

#468058

Postby idpickering » December 22nd, 2021, 3:48 pm

Key dates

Set out below are the key dates for Rio Tinto for the 2022 calendar year. The only change to previously published dates is that the full year results announcement will now be on 23 February 2022 (previously 16 February 2022).


https://www.investegate.co.uk/rio-tinto ... 00065005W/

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Re: Rio Tinto (RIO)

#473975

Postby idpickering » January 18th, 2022, 7:18 am

Rio Tinto releases fourth quarter production results

Rio Tinto Chief Executive Jakob Stausholm, said: "In 2021 we continued to experience strong demand for our products while operating conditions remained challenging, including due to prolonged COVID-19 disruptions. Despite this, we progressed a number of our projects, including the Pilbara replacement mines, underlining the resilience of the business and the commitment and flexibility of our people, communities and host governments. We are seeing some initial positive results from the implementation of the Rio Tinto Safe Production System, which we will significantly ramp up in 2022, as we continue to work hard to improve our operational performance to become the best operator.

"In the fourth quarter we set a new direction for the company and announced a number of partnerships focused on decarbonising the value chain for our products, including green steel. We also entered into a binding agreement to acquire the Rincon lithium project in Argentina, which is strongly aligned with our strategy. These actions will ensure we continue to deliver attractive returns to shareholders, invest in sustaining and growing our portfolio, and progress our ambition to net-zero carbon emissions."


https://www.investegate.co.uk/rio-tinto ... 00067433Y/

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Re: Rio Tinto (RIO)

#474027

Postby 77ss » January 18th, 2022, 10:39 am

idpickering wrote:Rio Tinto releases fourth quarter production results.....


A money making machine!

Average selling price for iron ore over the year up by 45%, with copper and aluminium doing even better.

Selling price isn't the only factor of course, but even so.

I am mentally pencilling in, OTBE, a decent dividend rise this year - and a special. The hefty dividend increase and special of 2021 was achieved on the back of a 15% increase in iron ore prices.

Checking my records, I note that the annual dividend (£, excluding specials) has increased from 57.05p in 2010 (the first year after 2009s rights issue) to 492.7p in 2021. Rising every year bar 1.

CAGR 21.65% over the 11 year period. No doubt other miners have done as well, but RIO is the only one I hold.

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Re: Rio Tinto (RIO)

#474029

Postby idpickering » January 18th, 2022, 10:41 am

77ss wrote:
idpickering wrote:Rio Tinto releases fourth quarter production results.....


A money making machine!

Average selling price for iron ore over the year up by 45%, with copper and aluminium doing even better.

Selling price isn't the only factor of course, but even so.

I am mentally pencilling in, OTBE, a decent dividend rise this year - and a special. The hefty dividend increase and special of 2021 was achieved on the back of a 15% increase in iron ore prices.

Checking my records, I note that the annual dividend (£, excluding specials) has increased from 57.05p in 2010 (the first year after 2009s rights issue) to 492.7p in 2021. Rising every year bar 1.

CAGR 21.65% over the 11 year period. No doubt other miners have done as well, but RIO is the only one I hold.


Thanks for your input. I agree with you. I intend topping up my holdings soon.

Ian.

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Re: Rio Tinto (RIO)

#475893

Postby idpickering » January 25th, 2022, 5:57 am

Rio Tinto reaches deal for ‘full reset’ in Mongolia mine dispute,

Rio Tinto chief executive Jakob Stausholm has agreed to waive $US2.4 billion ($3.35 billion) of debt owed by the Mongolian government in the hope of putting one of its most important growth projects, the underground expansion of the Oyu Tolgoi copper mine, back on track.

In an effort to achieve a “full relationship reset” following a years-long dispute over Rio Tinto’s problem-plagued $US6.9 billion project in the Gobi Desert, the Anglo-Australian mining giant, its subsidiary Turquoise Hill Resources and the government of Mongolia this week formalised an agreement to move the project forward and increase the value it delivers for Mongolia.


https://theworldnews.net/au-news/rio-ti ... on%20track.

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Re: Rio Tinto (RIO)

#475898

Postby idpickering » January 25th, 2022, 7:13 am

Further to my post above, RIO have put out this today;

Oyu Tolgoi partners reach comprehensive agreement and approve commencement of underground mining operations

Rio Tinto, Turquoise Hill Resources (TRQ) and the Government of Mongolia have reached an agreement that will move the Oyu Tolgoi (OT) project forward, resetting the relationship between the partners and increasing the value the project delivers for Mongolia.

As a result, the OT Board, comprised of representatives of Rio Tinto, TRQ and Erdenes Oyu Tolgoi (EOT) which is wholly owned by the Government of Mongolia, has unanimously approved commencement of underground operations. This step unlocks the most valuable part of the mine and is expected to begin in the coming days, with first sustainable production expected in the first half of 2023.


https://www.investegate.co.uk/rio-tinto ... 00064564Z/

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Re: Rio Tinto (RIO)

#477726

Postby idpickering » February 1st, 2022, 10:42 am

Rio Tinto - Workplace review reveals bullying, sexual harassment and racism.


Rio Tinto has published a damning external review of its workplace culture.

The report, carried out by Australian sex discrimination commissioner Elizabeth Broderick, suggested bullying, sexual harassment and racism were widespread problems at the company.

Its findings included 21 complaints of actual or attempted rape or sexual assault over the past five years, with nearly 30 per cent of women and seven per cent of men experiencing sexual harassment at work during there time at Rio Tinto.

More than 10,000 employees, nearly a quarter of its 45,000-strong workplace shared their experiences and views for the study.

The research was conducted via an online survey, as well as through more than 100 group listening sessions, 85 confidential individual listening sessions and close to 140 individual written submissions.

Nearly half the respondents said they had been bullied, while racism was found to be common across a number of areas.

This was particularly the case concerning respondents working in a country different to their birth, while nearly 40 per cent of men who identify as Aboriginal or Torres Strait Islander in Australia said they had experienced racism.

Rio Tinto launched the review in March last year, in the wake of a widespread backlash against the company after it blasted the 46,000-year-old Juukan Gorge rock shelters to expand an iron ore mine.



https://www.cityam.com/rio-tinto-workpl ... nd-racism/

Ian.

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Re: Rio Tinto (RIO)

#477933

Postby idpickering » February 2nd, 2022, 7:16 am

Rio Tinto notes ERA update on Ranger mine

Rio Tinto notes Energy Resources of Australia Ltd (ERA) today released the preliminary findings from its reforecast of the cost and schedule for the Ranger rehabilitation project in Australia's Northern Territory, which have been subject to independent review (http://www.energyres.com.au). This release follows ERA's announcements on 27 September 2021, 8 October 2021 and 19 November 2021 where ERA forecast cost and schedule overruns for the Ranger rehabilitation project.

Rio Tinto is reviewing the preliminary findings of this reforecast and has advised ERA that it is committed to working with the company to ensure the rehabilitation of the Ranger Project Area is successfully achieved to a standard that will establish an environment similar to the adjacent Kakadu National Park.


https://www.investegate.co.uk/rio-tinto ... 00093944A/

Ian.

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Re: Rio Tinto (RIO)

#482256

Postby idpickering » February 23rd, 2022, 7:07 am

Rio Tinto announces record financial results and total dividend of 1,040 US cents per share for 2021, a 79% payout

Rio Tinto Chief Executive Jakob Stausholm said: "Our people have continued to safely run our world-class assets and are working hard to improve our operational performance, despite challenging operating conditions from prolonged COVID-19 disruptions. The recovery of the global economy, driven by industrial production, resulted in significant price strength for our major commodities, which we were able to capture, achieving record financial results with free cash flow of $17.7 billion and underlying earnings of $21.4 billion, after taxes and government royalties of $13.0 billion. This enables us to pay our highest total dividend ever of 1,040 US cents per share, including a 247 US cents per share special dividend, representing a 79% payout.

"With the launch of our new strategy, we have set a new direction for Rio Tinto to thrive in a decarbonising world. We have a portfolio that is well positioned, and are targeting disciplined investment in commodities that will see strong demand in the coming decades. Our agenda is an ambitious, multi-year journey which we are determined to deliver and we have already taken the first steps, with underground operations under way following the Oyu Tolgoi agreement and a binding agreement to acquire the Rincon lithium project in Argentina. We continue to evolve and deepen the way we engage and interact with all stakeholders as we work hard to generate and strengthen relationships wherever we operate. Our actions will ensure we continue to deliver attractive returns to shareholders, invest in sustaining and growing our portfolio, and make a broader contribution to society, particularly in relation to the drive to net-zero carbon emissions."

And later;

The 2021 final ordinary dividend and the special dividend to be paid to our Rio Tinto Limited shareholders will be fully franked. The Board expects Rio Tinto Limited to be in a position to pay fully franked dividends for the foreseeable future.

On 21 April 2022, we will pay the 2021 final ordinary dividend and the special dividend to holders of ordinary shares and holders of ADRs on the register at the close of business on 11 March 2022 (record date). The ex-dividend date is 10 March 2022.

Rio Tinto plc shareholders may choose to receive their dividend in Australian dollars, and Rio Tinto Limited shareholders may choose to receive theirs in pounds sterling. Currency conversions will be based on the pound sterling and Australian dollar exchange rates five business days before the dividend payment date. Rio Tinto plc and Rio Tinto Limited shareholders must register their currency elections by 29 March 2022.


https://www.investegate.co.uk/rio-tinto ... 00044929C/

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Re: Rio Tinto (RIO)

#482259

Postby idpickering » February 23rd, 2022, 7:17 am

Also posted today;

Changes to Ore Reserves and Mineral Resources

https://www.investegate.co.uk/rio-tinto ... 00045393C/

Our approach to climate change 2021

https://www.investegate.co.uk/rio-tinto ... 00044974C/

nb. RIO CEO being interviewed on Bloomberg TV at 1030hrs UK time today.

Ian.

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Re: Rio Tinto (RIO)

#482281

Postby idpickering » February 23rd, 2022, 8:53 am

idpickering wrote:Rio Tinto announces record financial results and total dividend of 1,040 US cents per share for 2021, a 79% payout

Rio Tinto Chief Executive Jakob Stausholm said: "Our people have continued to safely run our world-class assets and are working hard to improve our operational performance, despite challenging operating conditions from prolonged COVID-19 disruptions. The recovery of the global economy, driven by industrial production, resulted in significant price strength for our major commodities, which we were able to capture, achieving record financial results with free cash flow of $17.7 billion and underlying earnings of $21.4 billion, after taxes and government royalties of $13.0 billion. This enables us to pay our highest total dividend ever of 1,040 US cents per share, including a 247 US cents per share special dividend, representing a 79% payout.

"With the launch of our new strategy, we have set a new direction for Rio Tinto to thrive in a decarbonising world. We have a portfolio that is well positioned, and are targeting disciplined investment in commodities that will see strong demand in the coming decades. Our agenda is an ambitious, multi-year journey which we are determined to deliver and we have already taken the first steps, with underground operations under way following the Oyu Tolgoi agreement and a binding agreement to acquire the Rincon lithium project in Argentina. We continue to evolve and deepen the way we engage and interact with all stakeholders as we work hard to generate and strengthen relationships wherever we operate. Our actions will ensure we continue to deliver attractive returns to shareholders, invest in sustaining and growing our portfolio, and make a broader contribution to society, particularly in relation to the drive to net-zero carbon emissions."

And later;

The 2021 final ordinary dividend and the special dividend to be paid to our Rio Tinto Limited shareholders will be fully franked. The Board expects Rio Tinto Limited to be in a position to pay fully franked dividends for the foreseeable future.

On 21 April 2022, we will pay the 2021 final ordinary dividend and the special dividend to holders of ordinary shares and holders of ADRs on the register at the close of business on 11 March 2022 (record date). The ex-dividend date is 10 March 2022.

Rio Tinto plc shareholders may choose to receive their dividend in Australian dollars, and Rio Tinto Limited shareholders may choose to receive theirs in pounds sterling. Currency conversions will be based on the pound sterling and Australian dollar exchange rates five business days before the dividend payment date. Rio Tinto plc and Rio Tinto Limited shareholders must register their currency elections by 29 March 2022.


https://www.investegate.co.uk/rio-tinto ... 00044929C/


Further to this, with thanks to Breelander for putting this information over on HYPP, this;

We determine dividends in US dollars. We declare and pay Rio Tinto plc dividends in pounds sterling and Rio Tinto Limited dividends in Australian dollars. The 2021 final dividend has been converted at exchange rates applicable on 22 February 2022 (the latest practicable date before the dividend was declared)....

Ordinary dividend per share declared...
Rio Tinto plc
Final (UK pence) 306.72

Special dividend per share declared...
Rio Tinto plc
Final (UK pence) 45.60


Ian.

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Re: Rio Tinto (RIO)

#483254

Postby idpickering » February 28th, 2022, 7:22 am

Requisitioned resolution withdrawn

Rio Tinto gives notice, in accordance with ASX Listing Rule 3.17A.2, that the two requisitioned resolutions submitted by Market Forces for consideration at Rio Tinto Limited's 2022 Annual General Meeting in Melbourne, Australia on 5 May 2022 have been withdrawn by Market Forces on behalf of the shareholders who requisitioned those resolutions. These resolutions were originally set out in the notice to the ASX dated 20 April 2021.

The first resolution proposed an amendment to the constitution of Rio Tinto Limited to permit the company's members in general meeting to pass advisory resolutions. The second resolution requested disclosure by the company in relation to its risk threshold to Scope 3 emissions and the measures it will take to reduce this exposure.

Through constructive engagement, and ahead of the non-binding, advisory 'say on climate' resolution to be put to Rio Tinto's annual general meetings, Rio Tinto and Market Forces have worked together to improve the transparency of the intended outcomes of, and risk threshold within, the company's Scope 3 approach.

In reaching an agreement to withdraw the resolution, Rio Tinto recognises shareholder expectations continue to evolve with respect to climate reporting, and welcomes engagement by Market Forces and other shareholders on this issue.


https://www.investegate.co.uk/rio-tinto ... 00099920C/


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