the world's largest sovereign wealth fund
It holds 2.5% in Rio's London stock.Talking to Australian shareholders at the company's Perth AGM
Rio chairman Dominic Barton said: "There is no basis for expecting that an additional review would lead to a different conclusion.""But I also want to be clear that we are open-minded about all routes that maximise value for you
and that's the lens through which we assess this topic," he added.Goldman Sachs analysts in March estimated the total cost of collapsing Rio's dual listed companies could range from $7 billion to $15 billion.Reporting by Melanie Burton and Clara Denina; Additional reporting by Himandshi Akhand; Editing by Edwina Gibbs and Barbara Lewis
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Rio Tinto’s board has claimed victory in its battle to keep the miner’s primary London listing
after shareholders voted down an activist hedge fund’s proposal to review its dual-company structure
Britain’s Palliser Capital spent months lobbying investors to back its proposal
but slightly more than 80 per cent of Rio’s shareholders – spread across two meetings in London and Perth – voted against the resolution
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Read MoreMiningRio TintoJakob StausholmBHP GroupLatest In MiningFetching latest articles
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Rio Tinto RIO, the second-largest global miner, has fended an activist investor campaign to abandon its long-standing dual listing structure
below the 20% threshold that would have mandated further shareholder engagement
which owns around $88 million worth of Rio shares
has criticized the existing structure as an "unmitigated failure" that has led to $50 billion in value destruction and constrained Rio's ability to execute large-scale mergers and acquisitions
The group argued that a simplified structure could better align Rio with global peers and boost investor returns
Rio's board countered that restructuring would come at a steep cost
Chair Dominic Barton noted the board had already conducted a thorough review with input from five external consultants
"All of this work showed that a unification of the DLC would be value destructive for the group and its shareholders," he said per AFR
The miner cited potential tax implications and significant legal complexities to maintain the status quo
Rio operates as two entities — one listed in London and the other in Sydney — but functions as a unified business
Under Palliser's alternative structure
Rio would remain UK-listed through a secondary listing while governed by a new parent company domiciled in Australia
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At Rio Tinto's annual general meeting in Perth on Tuesday
CEO Jakob Stausholm also addressed broader strategic themes
including the role of critical minerals in the company's future portfolio
Rio already produces scandium and is exploring options to extract gallium from its aluminum operations
But both Stausholm and Barton expressed caution
citing limited market scale and uncertain demand
"That's why you don't typically see the top five [miners] in this space," Barton said
explaining that while Rio has opportunities
it must carefully assess scalability and market conditions before proceeding
Price Action: RIO shares are trading higher by 1.96% to $59.70 premarket at the last check on Friday.
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President Trump has made a new announcement
calling for a certain industry to start moving to meet new demand caused by recent trade tariff rollouts
This has likely been analyzed deeply by some of the best and smartest traders in the market today
This is not a thesis; it is a fact that can be spotted by retail investors today
as long as they know what to look for and where
The evidence is found in recent trading activity
By spotting unusual call options activity in a specific stock
investors know that a group of traders (or one big trader) in the market have taken a strong view on the underlying name
considering that options carry an aspect of leverage and timing to them
increasing the stakes significantly for the trade
Today’s scanning would have brought investors to shares of Rio Tinto Group NYSE: RIO, a multinational mining company that is now the subject of some of the benefits underlying in the recent announcement by President Trump, which directly calls for increased productivity in the mining sector and basic materials companies like Rio Tinto
Here is exactly what happened and why this stock might make higher highs soon
President Trump passed an executive order calling for increased deep-sea mining for minerals and other materials
as other nations might be reluctant to trade in the short term as these tariff negotiations drag on for a resolution
This order seeks to bring the United States more inventory from these materials as soon as possible
Because the equipment and methods needed to get this done are Rio Tinto’s expertise
the stock stands in the middle of the storm of potential upside in the coming months and quarters
and the same reason why investors should be aware of it as a wise consideration for their portfolios moving forward
there is some evidence of underlying optimism in this stock
as taken by the recent price action during the announcement dates
Rio Tinto stock has managed to outperform the broader S&P 500 by as much as 10% over the past quarter
driven mostly by the past three-week rally after the announcement
This momentum, in addition to the fundamental and valuation implications, drove call option buyers into this stock. These buyers make a profit if the price rises just in time before those contracts expire. Reportedly, up to 7,453 call options were opened for the stock looking for higher prices by May 2025
As of late April 2025, institutional allocators from Capital Advisors decided to boost their Rio Tinto stock holdings by 3.7%. While this may not sound like much on percentage terms, when investors quantify this move, they can land on a net position size of up to $25.5 million today
This new allocation shows another sign of recent optimism about the stock’s momentum compared to the S&P 500
but these institutions are not only momentum players
They must always justify their decisions behind strong fundamentals
which are more present than ever in this new industry tailwind pushed by President Trump
Whatever these investors saw for Rio Tinto might be the same trend spotted by Wall Street analysts, as they have kept their consensus price targets of $73 per share on Rio Tinto stock
this view implies that there is enough reason and room to deliver a net rally of up to 23%
justifying the multi-million dollar positionings in the name
there is another added benefit for Rio Tinto shareholders
Considering that this name has been badly beaten down by the trade tariff uncertainty
its current level of only 80% of its 52-week high also delivers an asymmetrical risk-to-reward setup for investors
With this low price, investors face limited downside with all of the upside still present and enjoy a higher-than-average dividend yield. Because Rio Tinto’s management is confident on this new future development for the business, they’ve maintained a dividend payout of up to $4.46 per share, translating into a 7.5% annualized yield today
Whether investors get in this name for the dividend or for the upside
both angles can be validated by the stock's technical setup and the fundamental reasoning behind upcoming demand and activity
Thesey translate into much better earnings per share (EPS) outcomes will undoubtedl by the time the next quarterly financial results are released into the public
the reason behind this conviction to buy more call options than usual is set
and investors can cherry-pick their positions ahead of a potential new rally
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on..
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Speaking in an interview, Katie Jackson – who was appointed to her role in September 2024 after a career in the energy markets – said that her professional background allowed her to see comparability to mining
She gave her insights into how tariffs create volatility in the copper market but a long-term conviction still remains
but I am coming into the business from energy
which is a business where you have a long-term horizon and need a conviction in terms of supply and demand fundamentals as the basis for investments
I think mining is very similar,” she said during the annual CESCO industry week in Santiago
“Fundamentally, I think everybody still sees that the world is electrifying at pace. Copper is lucky enough to be the best way of conducting electrical current
and that’s not changing any time soon,” she told Fastmarkets
we see the tariffs and geopolitical backdrop as volatility rather than a fundamental shift on our long-term conviction,” she added
The US has imposed 125% tariffs on imports from China
which in turn will have 84% tariffs on imports from the US beginning at 12:01am US Eastern time on Thursday April 10
Additional reciprocal tariffs by the US on 60 other countries briefly took effect, but have now been paused for 90 days; in place of the paused tariffs, a universal 10% tariff – from which copper is currently exempt – continues
Copper is also currently subject to a Section 232 investigation
Jackson acknowledged that tariffs would have a positive impact on copper in some places such as the company’s domestic copper business in the United States
where it operates the Bingham Canyon mine at KUC in Utah
we’re on the other side of tariffs with an aluminium business in Canada
so there will be opportunities and challenges,” she added
referring to the Section 232 tariffs on imports of aluminium into the US
“The fundamentals of the market haven’t changed: where copper is geographically located
where the centers of demand are – none of this has fundamentally changed
it’s much more about tweaking around the edges at the moment,” she added
Key objectives of the tariffs are reshoring and getting manufacturing jobs back to the US
a push that is being replicated by governments around the world while they seek to secure supply chains
Jackson said the rising interest in critical minerals and their supply chains is a positive step
“I was working in oil and gas at the time of Russia’s invasion of Ukraine
when everyone suddenly learned the reality of how European gas flowed
So it’s actually quite good that governments are paying a bit more attention to how supply chains work,” she told Fastmarkets
“Arguably there hasn’t been much discussion of it in copper over the past few years and I think US interest in a domestic copper industry is fundamentally positive,” she added
Rio Tinto wants to be able to bring on more projects in the US
just like it is doing in Chile at its Nuevo Cobre venture with Codelco
plus is committed to ramping up and growing Oyu Tolgoi in Mongolia
“We are making multi-decade investment decisions and really that sees out political terms and becomes much more of a fundamental industrial logic conversation
I also think it’ll be interesting to watch the role of recycling in these supply chains,” she added
The push to produce more critical minerals like copper in the US is a key part of the reshoring ambitions
Jackson noted that Rio Tinto is already an integrated producer in the US
with its KUC operations going from concentrator
Rio Tinto produced 697,000 tonnes of mined copper and 248,000 tonnes of refined copper last year
123,400 tonnes of mined copper of 193,200 tonnes of refined copper was produced at KUC
The lion’s share of its mined copper production comes from Escondida in Chile
people will mainly conclude that the most attractive part of the value chain and the part of the value chain where a company like Rio Tinto has historically really added value
developing and bringing on new mega projects,” she said
“That will always be the first place that we get the marginal dollar of investment
But I also think we have to work with partners and try and look at how we can facilitate the right projects,” she added
There is also a commitment by the Trump administration to speed up the permitting process for critical minerals projects in the US
a joint venture with BHP which has the potential to supply up to 25% of US copper demand
we hope that the focus of the administration on more domestic copper gives us tailwinds
but we’re still in the same process that we were in before,” Jackson said
“There is a subsequent set of permits that we’ll obviously need to get
It’s very important to do a proper job permitting projects
It’s not that we want to sacrifice quality
but we want to reduce the time it takes for approvals,” she noted
adding: “There’s a real need to do that if we’re going to meet what’s coming.”
the Resolution project needs to resolve a legal process
we’re still going through the same process at Resolution
which is that we are waiting for the US Supreme Court to decide whether to hear the Apache’s stronghold case against the US Forestry Service,” Jackson said
“There is an expectation that decision will come in this session
although it has been deferred many times already,” she added
If the decision is in favor of the project
Jackson said the process toward a final environmental impact statement being issued again and a land exchange taking place
But the partners will not get access to the site until the land exchange takes place and have not yet drilled through 30% of the orebody
“A positive decision would give us the opportunity to commit to a work program
to do more exploration and to really then finalize the mine design to progress
as we have been working on the project for some time,” she told Fastmarkets
The company is also expanding the North Rim Skarn (NRS) of KUC’s Bingham Canyon mine
The project will access the higher-grade underground mine
and will deliver around 250,000 tonnes of additional mined copper through to 2033 alongside open cut operations
“As we also experienced in the Oyu Tolgoi underground
Development rates are coming up and it’s going reasonably well,” she told Fastmarkets
She said that Rio Tinto is working to transform the mine in a number of different ways to get through the period of lower production and then anticipates being able to take the next set of investment decisions
there’s another pushback coming at KUC that would actually take the mine life into the 2040s and fundamentally
it really makes sense to pursue brownfield sites
In Hotter Commodities, special correspondent Andrea Hotter covers some of the biggest stories impacting the natural resources sector. Read more coverage on our dedicated Hotter Commodities page here.
The definitive podcast for the critical minerals and battery raw materials markets. From uncovering market secrets to predicting future trends using Fastmarkets forecasting data, we’ve got you covered.
Reporting by Adwitiya Srivastava in Bengaluru; Editing by Varun H K
achieves the upper end of its 325 million to 335 million tons guidance for 2025.Rio Tinto's 2025 outlook of 323 million to 338 million tons excludes an expected 9.7 million to 11.4 million tons from its Canadian operations.Meanwhile
copper production on a consolidated basis rose 16% to 210 thousand tons compared with a year ago
but fell 8% quarter-on-quarter.At its Kennecott operation in Utah
copper production plunged 32% from the previous quarter due to unplanned conveyor failures
The affected conveyor has since been restored to full functionality
the company said.The world's largest iron ore producer shipped 70.7 million tons of the steel-making commodity from its Pilbara operations in the three-month period ended March 31
and missed a Visible Alpha consensus estimate of 73.6 Mt.($1 = 1.5785 Australian dollars)Reporting by Roushni Nair & Rajasik Mukherjee in Bengaluru and Melanie Burton in Sydney; Editing by Devika Syamnath and Sherry Jacob-Phillips
Ernest Scheyder is a senior correspondent covering the clean energy transition and critical minerals, as well as the author of "The War Below: Lithium, Copper, and the Global Battle to Power our Lives." He previously covered the U.S. shale oil revolution, politics, and the environment.
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world
with not enough shareholders backing the proposal
Rio had urged shareholders to reject the proposal, which ultimately aimed for the company to hold its primary listing in Australia. Still, almost 20% voted in favor of the resolution by Palliser Capital UK Ltd., and the world’s No. 2 mining company said it will continue to engage with shareholders on the subject.
speaks at the National Press Club in Canberra
Rio Tinto ( (GB:RIO) ) has shared an announcement
Rio Tinto has announced the allocation of Free Shares to key management personnel under its UK Share Plan
which allows UK employees to purchase shares with matching shares provided by the company
This move reflects the company’s commitment to employee engagement and aligns management interests with shareholder value
potentially enhancing Rio Tinto’s operational performance and market positioning
According to Spark, TipRanks’ AI Analyst
Rio Tinto’s overall stock score is strong
driven by robust financial performance and attractive valuation
strategic growth initiatives in lithium and decarbonization offer long-term potential
Key risks include market challenges in China and cost pressures
Positive corporate events further bolster confidence in the company’s future
To see Spark’s full report on GB:RIO stock, click here
Rio Tinto is a leading global mining group that focuses on finding
Learn more about RIO stock on TipRanks’ Stock Analysis page
Disclaimer & DisclosureReport an Issue
Rio Tinto ( (GB:RIO) ) has shared an announcement
According to Spark, TipRanks’ AI Analyst
Disclaimer & DisclosureReport an Issue
Rio Tinto (RIO, Financial) shareholders have decisively voted down a proposal from activist investor Palliser Capital that aimed to relocate the mining giant's primary listing from London to Australia
Shareholders were concerned about the potential financial repercussions
particularly the risk of incurring tax costs in the billions
Rio Tinto PLC (RIO, Financial) currently holds an average brokerage recommendation of 1.4 based on input from 7 brokerage firms
This "Buy" status falls on a rating scale from 1 to 5
reflecting positive market sentiment towards the stock
Rio Tinto Limited ( (AU:RIO) ) has issued an update
Rio Tinto Limited held its annual general meetings in London and Perth
where all resolutions were passed except for a proposal to unify its dual-listed company structure
The board had previously reviewed the structure and concluded that unification would lead to substantial tax costs and other financial implications
A significant majority of shareholders supported the board’s recommendation to maintain the current structure
emphasizing the importance of focusing on long-term strategic goals
Rio Tinto Limited is a leading global mining group that focuses on finding
and is known for its significant contributions to the global mining industry
See more data about RIO stock on TipRanks’ Stock Analysis page
Rio Tinto Limited ( (AU:RIO) ) has issued an update
Rio Tinto ( (GB:RIO) ) has provided an announcement
Rio Tinto has announced the award of free shares to key management personnel under the UK Share Plan
This includes transactions involving Peter Cunningham
The transactions were conducted on April 30
This move is part of Rio Tinto’s strategy to align management interests with those of shareholders
potentially impacting the company’s governance and stakeholder relations
The company is known for its production of essential materials such as iron ore
Rio Tinto operates in various countries and is committed to sustainable and responsible mining practices
Find detailed analytics on RIO stock on TipRanks’ Stock Analysis page
Rio Tinto ( (GB:RIO) ) has provided an announcement
Rio Tinto has announced that its key management personnel have acquired shares in Rio Tinto plc through the company’s dividend reinvestment plan
reported to both the Australian Securities Exchange and the London Stock Exchange
reflects the company’s ongoing efforts to engage its stakeholders and enhance shareholder value by offering opportunities to reinvest dividends into company shares
and is known for its commitment to sustainable and responsible mining practices
For an in-depth examination of RIO stock, go to TipRanks’ Stock Analysis page
An update from Rio Tinto ( (GB:RIO) ) is now available
Rio Tinto has announced that its key management personnel have acquired shares in the company through its Dividend Reinvestment Plan
disclosed to both the Australian Securities Exchange and the London Stock Exchange
reflects the company’s ongoing commitment to shareholder value and may influence its market positioning by demonstrating confidence in its financial health
Rio Tinto’s strong financial performance and attractive valuation metrics form the core of its high overall score
strategic initiatives in lithium and decarbonization provide long-term growth prospects
and cost pressures in the iron ore segment are key risks to monitor
serving a wide range of industries worldwide
See more insights into RIO stock on TipRanks’ Stock Analysis page
An update from Rio Tinto ( (GB:RIO) ) is now available
Rio Tinto’s annual general meetings in London and Perth addressed several resolutions
including a significant proposal to review the company’s dual-listed company (DLC) structure
The board recommended against this Requisitioned Resolution
citing potential financial and operational drawbacks
and the majority of shareholders voted in alignment with the board’s stance
The decision underscores Rio Tinto’s commitment to maintaining its current corporate structure
which is believed to optimize shareholder returns and market access
despite some shareholder support for the review
The company is primarily involved in the production of iron ore
Learn more about RIO stock on TipRanks’ Stock Analysis page
The news: Rio Tinto’s board have kept hold of the miner’s London listing
as shareholders voted against activist hedge fund Palliser’s proposal to review the dual-listing structure
The numbers: 19.35% of Rio shareholders voted for a review of the dual-listing
a vote of 20% or more would have forced the company to consult more widely with shareholders
A combined vote of 75% would have forced Rio to launch the dual-listing review
The context: In a statement following the vote
Rio said that the company has periodically reviewed the DLC structure many times since it was established and that the structure delivers benefits in terms of capital markets access
shareholder returns and efficient franking credits utilisation
The company added that any unification of the DLC structure under Rio Tinto Limited would give rise to material issues
including expected tax costs in the mid-single digit billions of US dollars
significant wastage of franking credits (impacting dividends) and a weaker share price
conversely argues that removing the DLC structure would unlock US$28 billion ($43.8 billion) in value for shareholders of Rio’s London shares
The London listing comprises about 77% of Rio Tinto's investor base
but the Australian-listed shares are trading at a premium of about 25%
partly due to tax advantages available to Australian shareholders
Rio’s British shareholders voted at its London AGM on April 3
What they said: Speaking to shareholders at the Perth Convention and Exhibition Centre
Rio chairman Dominic Barton said: “We’ve considered this topic regularly and objectively over many years…and looked at the benefits and the costs
All of this work showed that unification would be value destructive for the group and its shareholders…We were open-minded about all routes that maximise value for you
I think we have had seven meetings with Palliser.”
Palliser reaffirmed its commitment as long-term shareholders
founder and CIO stating: “It is never easy for a small shareholder to take on the likes of a corporate giant like Rio Tinto
we simply could not accept Rio Tinto’s anomalous and illogical findings that unification offers no advantages whatsoever
when almost every other DLC in the world has unlocked multiple significant benefits through a simplified structure
We co-filed our resolution to advocate for a truly unbiased and open review of the merits of unification.”
Smith added that having shone a “glaring light” on “governance failings and unsubstantiated analysis,” and having gained support from proxy advisors ISS and Glass Lewis for the structure review
Palliser hopes to work with a board that is more “willing to collaborate.”
Smith referred to the “similar experience” BHP
where “initial flawed arguments to protect an almost identical DLC structure – much like those now presented by Rio Tinto – ultimately gave way to a highly successful unification.”
The sources: Rio Tinto, Reuters, AFR
has acquired American Depository Receipts (ADRs) under a dividend reinvestment plan
involved 72 ADRs at a price of $58.099722 each
The acquisition reflects ongoing engagement by key management personnel in the company’s financial instruments
potentially signaling confidence in the company’s market performance
The company is known for its production of essential metals and minerals
For a thorough assessment of RIO stock, go to TipRanks’ Stock Analysis page
Rio Tinto ( (GB:RIO) ) has provided an update
Rio Tinto held its annual general meetings in London and Perth
where shareholders voted on several resolutions
A significant focus was the Requisitioned Resolution
which proposed an independent review to unify the dual-listed company (DLC) structure
The Board recommended against this unification due to potential tax costs and inefficiencies
The Board emphasized the benefits of the current DLC structure and the importance of focusing on long-term value creation
Despite some shareholder support for the resolution
Rio Tinto will continue engaging with shareholders to address their concerns
and it operates in various countries worldwide
emphasizing sustainable development and innovation
For an in-depth examination of RIO stock, go to TipRanks’ Stock Analysis page
Rio Tinto ( (GB:RIO) ) has provided an update
Tectonic shifts subsequently scattered the global economy’s two favourite metals around Earth’s surface
An abundance of the iron ended up in what are now Australia and Brazil
Prodigious seams of pre-Pangaeatic copper settled in places like central Africa
This article appeared in the Business section of the print edition under the headline “A tale of two mines”
Discover stories from this section and more in the list of contents
Paramount’s dilemma exemplifies a broader problem
The coffee chain’s new boss is struggling to fix its problems
The two e-commerce darlings are caught between China and America
Registered in England and Wales. No. 236383 | Registered office: The Adelphi, 1-11 John Adam Street, London, WC2N 6HT | VAT Reg No: GB 340 436 876
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AEST = Australian Eastern Standard Time which is 10 hours ahead of GMT (Greenwich Mean Time)
but the company has run out of wiggle room for catching up on Pilbara iron ore volumes if there are any more interruptions at the port," RBC Capital Markets analysts said in a note.The company expects Pilbara iron ore unit cash costs on a free-on-board basis to be between $23 and $24.5 per wet metric ton for the current year
slightly higher than the unit cost of $23 per ton last year.Also in Australia
Stausholm told reporters Rio would decide the future of its Tomago aluminium smelter
which is struggling due to high power prices
by mid-year.Reporting by Clara Denina in London
Melanie Burton in Melbourne and Himanshi Akhand and Roshan Thomas in Bengaluru; Editing by Anil D'Silva
Connecting decision makers to a dynamic network of information
Bloomberg quickly and accurately delivers business and financial information
Iron ore stockpiles waiting to be transported at Rio Tinto Group's port facility in Karratha
The miner shipped 70.7 million tons of the steelmaking material in the year’s first three months, a period affected “by extreme weather events that impacted our Pilbara iron ore operations,” Chief Executive Officer Jakob Stausholm said in a statement on Wednesday.
, opens new tab.The Australian Workers' Union and the Mining and Energy Union (MEU) together form the WMWA.The agreement would likely bring about annual pay increase
a relief in the current high-living-costs environment among other demands
MEU had said last month.The alliance said in a Facebook post it expects to make a formal application to the Australia's industrial tribunal
to release an order for Rio to collectively bargain with its mine workforce.A Rio Tinto spokesperson said in an emailed response that its current approach helps drive productivity and wages growth."This model has delivered for our people
and the payment of royalties."Reporting by Sneha Kumar in Bengaluru; Editing by Mrigank Dhaniwala
is set to begin operations in mid-2027 and has secured funding from the Austrian government and European Union programs
according to the statement.Reporting by Roushni Nair in Bengaluru; Editing by Tasim Zahid
Rio Tinto’s flagship iron ore division has made its weakest start to a year in a decade on the back of wild weather that will cost $150 million to mitigate
while its biggest Pilbara rivals appear to have escaped largely unscathed
Rio said it would have to spend the money repairing infrastructure and hiring contractors
with the company exporting just 70.7 million tonnes of Australian iron ore in the three months to March