Winfo tinto5/7/2023 ![]() ![]() At the end of the 1880s, control of the firm passed to the Rothschild family, who increased the scale of its mining operations. Following purchase of the mine, the syndicate launched the Rio Tinto Company, registering it on 29 March 1873. The bid also specified that Spain would permanently relinquish any right to claim royalties on the mine's production. At an auction held by the Spanish government to sell the mine on 14 February 1873, the group won with a bid of GB£3.68 million ( ESP 92.8 million). The purchasers of the mine were led by Hugh Matheson's Matheson and Company, which ultimately formed a syndicate consisting of Deutsche Bank (56% ownership), Matheson (24%) and the civil engineering firm Clark, Punchard and Company (20%). However, Spain's mining operations there were inefficient, and the government itself was otherwise distracted by political and financial crises, leading the government to sell the mines in 1873 at a price later determined to be well below actual value. After a period of abandonment, the mines were rediscovered in 1556 and the Spanish government began operating them once again in 1724. Around 3000 BC, Iberians and Tartessians began mining the site, followed by the Phoenicians, Greeks, Romans, Visigoths and Moors. Since antiquity, a site along the Rio Tinto in Huelva, Spain, has been mined for copper, silver, gold and other minerals. Hugh Matheson led the purchase of the Rio Tinto mines from Spain, and was the company's first president. 8.3.2 Racism, bullying, and sexual harassment.8.2 Involvement with Axis powers in World War II.6.8 Development of autonomous technologies.6.7 Iron products and titanium: Rio Tinto Iron and Titanium.6.6 Industrial minerals: Rio Tinto Minerals.6.2 Copper and by-products: Rio Tinto Copper.3.3 Recent mergers, acquisitions and events.There have also been concerns over corruption: in July 2017 the UK's Serious Fraud Office (SFO) announced the launch of a fraud and corruption investigation into the company's business practices in Guinea. Īcademic observers have also expressed concern regarding Rio Tinto's operations in Papua New Guinea, which they allege were one catalyst of the Bougainville separatist crisis. Rio Tinto has been widely criticised by environmental groups as well as the government of Norway for the environmental impacts of its mining activities: claims of severe environmental damages related to Rio Tinto's engagement in the Grasberg mine in Indonesia led the Government Pension Fund of Norway to exclude Rio Tinto from its investment portfolio. Rio Tinto later apologised for the distress caused and CEO Jean-Sébastien Jacques subsequently stepped down. ![]() In May 2020, to expand the Brockman 4 mine, Rio Tinto demolished a sacred cave in Juukan Gorge, Western Australia, which had evidence of 46,000 years of continual human occupation, and was considered the only inland site in Australia to show signs of continual human occupation through the last Ice Age. In the 2020 Forbes Global 2000, Rio Tinto was ranked as the 114th-largest public company in the world. Additionally, American depositary shares of Rio Tinto's British branch are traded on the New York Stock Exchange, giving it listings on a total of three major stock exchanges. Rio Tinto is a dual-listed company traded on both the London Stock Exchange, where it is a component of the FTSE 100 Index, and the Australian Securities Exchange, where it is a component of the S&P/ASX 200 index. Rio Tinto has joint head offices in London (global and "plc") and Melbourne ("Limited" – Australia). Although primarily focused on extraction of minerals, Rio Tinto also has significant operations in refining, particularly the refining of bauxite and iron ore. It has grown through a long series of mergers and acquisitions. The company was founded in 1873 when of a group of investors purchased a mine complex on the Rio Tinto, in Huelva, Spain, from the Spanish government. Rio Tinto Group is an Anglo-Australian multinational company that is the world's second-largest metals and mining corporation (behind BHP).
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