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Rio Tinto

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BUSINESS
August 13, 2009 | Associated Press
China formally arrested four employees of mining giant Rio Tinto Ltd. for infringing trade secrets and bribery, but stopped short of laying politically explosive espionage charges in a case that has strained ties with key trading partner Australia. Investigations showed the four, including Stern Hu, an Australian citizen who headed Rio Tinto's iron ore business in China, obtained commercial secrets about China's steel and iron industries through "improper means" and were involved in bribery, the official Xinhua News Agency reported Wednesday.
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OPINION
May 24, 2013 | By Robert Redford
Coursing through vast reaches of Alaskan tundra, glacial lakes and emerald forests, six major river systems converge along the rim of the Bering Sea to form the crystalline waters of Bristol Bay, the richest wild salmon grounds in the world. Yet if three global mining giants get their way, this region - one of the last truly wild places in our country - could be destroyed. Each year, up to 40 million sockeye salmon make the journey from deep ocean waters into Bristol Bay and, from there, upstream to spawn in the inland shallows of their birth.
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BUSINESS
June 6, 2009 | Associated Press
Anglo-Australian miner Rio Tinto on Friday scrapped its $19.5-billion deal with China's Chinalco, choosing instead to raise $15.2 billion in a share sale and setting up a joint production venture with rival BHP Billiton. Rio Tinto Chairman Jan du Plessis said that the planned deal with Chinalco was dead and that his company would pay Chinalco a $195-million break fee, ending what would have been China's biggest overseas investment to date.
CALIFORNIA | LOCAL
May 15, 2010 | By Sam Quinones, Los Angeles Times
Early-morning negotiations Friday may have ended a months-long dispute between 570 borax miners and a multinational company that owns the strip mine on which the Kern County town of Boron depends. The two sides tentatively agreed around 1 a.m. Friday to a 2.5% wage increase in each year of the proposed six-year pact, said representatives of Rio Tinto Minerals and the International Longshore and Warehouse Union, which represents the workers. The two sides also agreed to new rules regarding promotions, overtime and contracting work to nonunion companies.
BUSINESS
February 2, 2008 | From the Associated Press
Alcoa Inc. and Aluminum Corp. of China say they plan to buy 12% of Rio Tinto in a deal valued at $14 billion. It is the biggest foreign investment yet by a Chinese company, Chinalco said Friday, and appears to be meant to block a bid for London-based Rio Tinto by Australian mining giant BHP Billiton. Alcoa said it contributed $1.2 billion to the deal.
WORLD
February 11, 2010 | By David Pierson
China has indicted four employees of the British-Australian mining giant Rio Tinto for alleged bribery and theft of commercial secrets, a move that paves the way for a trial in a case that has already elicited widespread international criticism. The four were arrested last July and include Australian citizen Stern Hu, the company's leading iron-ore negotiator in China. They "took advantage of their position and sought and accepted huge amounts of bribes from many Chinese steel companies," said a brief online report Wednesday from the New China News Agency that cited China's prosecutor's office.
BUSINESS
November 9, 2007 | From Times Wire Services
Australian energy and mining giant BHP Billiton ended months of speculation Thursday when it confirmed it had approached rival miner Rio Tinto about a potential merger. Rio Tinto rejected the proposal -- worth $113 billion, according to deal tracker Dealogic -- which could turn into a protracted takeover battle. BHP Billiton said it wrote twice to London-based Rio Tinto and "intends to continue to seek an opportunity to meet and discuss its proposal with Rio Tinto."
BUSINESS
July 13, 2007 | From the Associated Press
Mining giant Rio Tinto has offered to buy Canadian aluminum company Alcan Inc. for $38.1 billion in cash, the companies said Thursday, in a friendly takeover that tops a hostile bid by Pittsburgh-based Alcoa Inc. The bid exceeds a $28-billion offer of cash and stock from Alcoa that Alcan's board rejected in May, and would create the world's largest aluminum company. Alcoa withdrew its offer Thursday after being outbid.
BUSINESS
February 11, 2010 | By David Pierson
China has indicted four employees of the British-Australian mining giant Rio Tinto for alleged bribery and theft of commercial secrets, a move that paves the way for a trial in a case that has already elicited widespread international criticism. The four were arrested in July and include Australian citizen Stern Hu, the company's leading iron-ore negotiator in China. They "took advantage of their position and sought and accepted huge amounts of bribes from many Chinese steel companies," said a brief online report Wednesday from the New China News Agency that cited China's prosecutor's office.
BUSINESS
March 30, 2010 | By David Pierson
An Australian mining executive was sentenced to 10 years in prison Monday by a Shanghai court on charges of bribery and stealing commercial secrets. Stern Hu, the lead negotiator for Anglo-Australian mining giant Rio Tinto, was found guilty along with three Chinese colleagues who faced the same charges. The case has sparked heated exchanges between Australian and Chinese officials since the four men were detained in July. Australian Foreign Minister Stephen Smith said Monday the prison term handed down was "very tough" and that there were "serious unanswered questions" because the commercial-secrets portion of the trial was conducted in secret.
BUSINESS
March 30, 2010 | By David Pierson
An Australian mining executive was sentenced to 10 years in prison Monday by a Shanghai court on charges of bribery and stealing commercial secrets. Stern Hu, the lead negotiator for Anglo-Australian mining giant Rio Tinto, was found guilty along with three Chinese colleagues who faced the same charges. The case has sparked heated exchanges between Australian and Chinese officials since the four men were detained in July. Australian Foreign Minister Stephen Smith said Monday the prison term handed down was "very tough" and that there were "serious unanswered questions" because the commercial-secrets portion of the trial was conducted in secret.
BUSINESS
March 23, 2010 | By David Pierson
In a case that has become a flash point for the foreign business climate in China, an Australian mining executive admitted Monday to taking bribes while working as a chief iron-ore negotiator in China. Australian Stern Hu and three Chinese employees of the British-Australian mining giant Rio Tinto Group have been held since July, accused of stealing commercial secrets and accepting millions of dollars in bribes. The charges have been embarrassing for Rio Tinto, a major provider of iron ore to China, as it has sought to develop better relations with the country's leaders.
BUSINESS
February 11, 2010 | By David Pierson
China has indicted four employees of the British-Australian mining giant Rio Tinto for alleged bribery and theft of commercial secrets, a move that paves the way for a trial in a case that has already elicited widespread international criticism. The four were arrested in July and include Australian citizen Stern Hu, the company's leading iron-ore negotiator in China. They "took advantage of their position and sought and accepted huge amounts of bribes from many Chinese steel companies," said a brief online report Wednesday from the New China News Agency that cited China's prosecutor's office.
WORLD
February 11, 2010 | By David Pierson
China has indicted four employees of the British-Australian mining giant Rio Tinto for alleged bribery and theft of commercial secrets, a move that paves the way for a trial in a case that has already elicited widespread international criticism. The four were arrested last July and include Australian citizen Stern Hu, the company's leading iron-ore negotiator in China. They "took advantage of their position and sought and accepted huge amounts of bribes from many Chinese steel companies," said a brief online report Wednesday from the New China News Agency that cited China's prosecutor's office.
CALIFORNIA | LOCAL
February 1, 2010 | By David Kelly
The giant Rio Tinto Borax mine in Boron locked out about 540 hourly workers Sunday after the employee union refused to ratify a new labor contract. The lockout began at 7 a.m. as miners showed up outside the gates and were told they couldn't come in. Replacements were brought in to do their jobs. "It's obviously a drastic measure and I am well aware of the fact that this has very real consequences to our employees. It's not a bully tactic, but it's our only real alternative," said Dean Gehring, general manager of the mine.
BUSINESS
August 13, 2009 | Associated Press
China formally arrested four employees of mining giant Rio Tinto Ltd. for infringing trade secrets and bribery, but stopped short of laying politically explosive espionage charges in a case that has strained ties with key trading partner Australia. Investigations showed the four, including Stern Hu, an Australian citizen who headed Rio Tinto's iron ore business in China, obtained commercial secrets about China's steel and iron industries through "improper means" and were involved in bribery, the official Xinhua News Agency reported Wednesday.
BUSINESS
February 6, 2008 | From the Associated Press
BHP Billiton Ltd. formalized its unwelcome takeover bid for Rio Tinto today and upped the stakes with an all-stock offer worth $147.4 billion that would create a global mining monolith. London-based Rio Tinto, which rejected an initial approach from BHP Billiton last year as too low, said it would consider the new offer and urged its shareholders not to act hastily. BHP Billiton is offering 3.
WORLD
August 24, 2002 | DAVID HOLLEY, TIMES STAFF WRITER
If there is life on Mars, scientists believe it's likely to be tiny organisms that can survive below the planet's surface, without sunlight or oxygen, nourished by the minerals available even in that harsh environment. In other words, thinks Ricardo Amils Pibernat, a researcher at the Center for Astrobiology in Madrid, past or present life on the red planet could well resemble the unusual microbes that populate Spain's Rio Tinto.
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