Difference between revisions of "Rio Tinto"
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| − | '''Rio Tinto''' is a multinational mining and resources group founded originally in 1873. The group is one of the world's largest mining companies, with a pre-tax profit of approximately US$10.2 billion in 2006 on consolidated turnover of $25.4 billion. It is the largest coal mining company in the world.<ref>[http://www.greenpeace.org/seasia/en/asia-energy-revolution/dirty-energy/blcp-power-plant BLCP Coal-fired Power Plant - The Climate Killer], Greenpeace, accessdate=2008-02-27 | + | {{Template:Mining and Metals badge}} |
| + | '''Rio Tinto''' is a multinational mining and resources group founded originally in 1873. The group is one of the world's largest mining companies, with a pre-tax profit of approximately US$10.2 billion in 2006 on consolidated turnover of $25.4 billion. It is the largest coal mining company in the world.<ref>[http://www.greenpeace.org/seasia/en/asia-energy-revolution/dirty-energy/blcp-power-plant BLCP Coal-fired Power Plant - The Climate Killer], Greenpeace, accessdate=2008-02-27</ref> CEO [[Tom Albanese]] was the fifth-highest earning CEO on the FTSE 100 in 2011, taking £11,623,162 in the year till June 2011.<ref name="ids">Directors' Pay Report 2011 (2011), IDS, London. See also: Stephen Foley, '[http://www.independent.co.uk/news/business/news/business-as-usual-top-directors-get-49-per-cent-pay-rise-2376929.html Business as usual: top directors get 49 per cent pay rise]', The Independent, 28 October 2011, accessed 30 November 2011</ref> | ||
Since 1995, Rio Tinto has been a dual-listed company. Rio Tinto Limited, formerly known as CRA, is listed on the [[Australian Securities Exchange]], with Rio Tinto plc (formerly RTZ) listed on the [[London Stock Exchange]] as well as [[New York Stock Exchange]] (under ticker RTP). The two companies are managed as a single economic unit by a unified board, with a share in either company entitling the owner to the same voting rights and dividend payouts. RTZ shareholders made up 76.7 percent of the new unified entity, which is primarily managed from London. Its current chief executive is [[Tom Albanese]] and the company board is chaired by [[Paul Skinner]]. | Since 1995, Rio Tinto has been a dual-listed company. Rio Tinto Limited, formerly known as CRA, is listed on the [[Australian Securities Exchange]], with Rio Tinto plc (formerly RTZ) listed on the [[London Stock Exchange]] as well as [[New York Stock Exchange]] (under ticker RTP). The two companies are managed as a single economic unit by a unified board, with a share in either company entitling the owner to the same voting rights and dividend payouts. RTZ shareholders made up 76.7 percent of the new unified entity, which is primarily managed from London. Its current chief executive is [[Tom Albanese]] and the company board is chaired by [[Paul Skinner]]. | ||
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| + | In 2007 Rio Tinto merged with Canadian formed Aluminium company [[Alcan]] to form [[Rio Tinto Alcan]]. See the [[Rio Tinto Alcan]] page for an expanded account of the company's activities. | ||
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| + | See Corporate Watch's detailed pages on [http://www.corporatewatch.org/?lid=3590 Rio Tinto], including [http://www.corporatewatch.org/?lid=3594 Corporate Crimes] and [http://www.corporatewatch.org/?lid=3593 Influence and Lobbying]. | ||
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==History== | ==History== | ||
| − | The origins of Rio Tinto (Spanish for | + | The origins of Rio Tinto (Spanish for 'dark red river') are in southern Spain, at the site of an ancient mine <ref>[http://www.andalucia.com/province/huelva/riotinto/home.htm]</ref> which supplied the Phoenicians, Ancient Greeks, Carthaginians and the Roman Empire. In 1873 [[N M Rothschild & Sons]] of London and [[de Rothschild Frères]] of Paris joined with other investors to acquire the Spanish government's money-losing Rio Tinto mines. The new owners restructured the company and turned it into a profitable business. By 1905, the Rothschild interest in Rio Tinto amounted to more than 30 percent. [[Alfred Milner, 1st Viscount Milner]] served as chairmen for a period before World War One. |
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| + | In 1962 the (British) [[Rio Tinto Company]] acquired a majority stake in [[Consolidated Zinc]], an Australian company, and was renamed [[Rio Tinto Zinc]] Corporation (RTZ). The Australian company was renamed [[Conzinc Riotinto of Australia]] (CRA) but retained a separate corporate identity, with an increasing proportion of its shares being held by the Australian public. The current dual listed company structure was created in 1995. | ||
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| + | ==People== | ||
| + | |||
| + | ===Directors in Feb 2012=== | ||
| + | |||
| + | *[[Jan du Plessis]] Chairman | ||
| + | *[[Tom Albanese]] Chief executive (resigned January 2013) | ||
| + | *[[Guy Elliott]] Chief financial officer | ||
| + | *[[Sam Walsh]] Chief executive, Iron Ore and Australia - appointed CEO after Albanese resigned in January 2013 | ||
| + | *[[Robert Brown]] Non executive director | ||
| + | *[[Vivienne Cox]] Non executive director | ||
| + | *[[Michael Fitzpatrick (Aluminium)|Michael Fitzpatrick]] Non executive director | ||
| + | *[[Ann Godbehere]] Non executive director | ||
| + | *[[Richard Goodmanson]] Non executive director | ||
| + | *[[Andrew Gould]] Non executive director | ||
| + | *[[Lord Kerr of Kinlochard]] Non executive director | ||
| + | *[[Christopher Lynch]] Non executive director | ||
| + | *[[Paul Tellier]] Non executive director | ||
| + | *[[John Varley]] Non executive director<ref>Rio Tinto [http://www.riotinto.com/aboutus/19779_non_executive_directors.asp Management] Accessed 21/02/2012</ref> | ||
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| + | ===Directors in March 2008=== | ||
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| + | ''Chairman and executive directors'' <ref>[http://www.riotinto.com/investors/216_board.asp Chairman and executive directors], Rio Tinto, accessed March 7, 2008.</ref> | ||
| + | *[[Paul Skinner]] - Chairman, London | ||
| + | *[[Tom Albanese]] - Chief executive, London | ||
| + | *[[Guy Elliott]] - Finance director, London | ||
| + | *[[Dick Evans (Australia)]] - Executive director & Chief executive, Rio Tinto Alcan, Montreal | ||
| + | * [[Andrew Mackenzie]] - Chief Executive Diamonds and Minerals with [[Rio Tinto]] plc (since 2004). Mackenzie also serves as Non-executive Director with energy company [[Centrica]], is a Trustee with think tank [[Demos]] (where he was Chairman of the Board of Trustees between 2005 to 2007) and Group Executive and Chief Executive Non Ferrous at [[BHP Billiton]]. He previously served 22 years with [[BP]] plc (in a variety of senior technical and engineering positions before becoming Group Vice President of BP Petrochemicals)<ref>Centrica [http://www.centrica.co.uk/index.asp?pageid=49 Management] Accessed 26th August 2008</ref> | ||
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| + | ''Non executive directors'' <ref>[http://www.riotinto.com/whoweare/308_non_executive_directors.asp Non executive directors], Rio Tinto, accessed March 7, 2008.</ref> | ||
| + | *Sir [[David Clementi]] | ||
| + | *[[Vivienne Cox]] | ||
| + | *Sir [[Rod Eddington]] | ||
| + | *[[Michael Fitzpatrick (Australia)]] | ||
| + | *[[Yves Fortier]] | ||
| + | *[[Richard Goodmanson]] | ||
| + | *[[Andrew Gould]] | ||
| + | *[[Lord Kerr of Kinlochard]] | ||
| + | *[[David Mayhew]] | ||
| + | *[[Richard Sykes]] | ||
| + | *[[Paul Tellier]] | ||
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| + | ==Affiliations== | ||
| + | *[[Global Mining Initiative]] | ||
| + | |||
| + | ==Lobbyists== | ||
| + | *In 2011 Rio Tinto was listed as a UK client of [[Bell Pottinger Public Affairs]]. <ref> [http://www.bppa.co.uk/aboutus/our_clients/ Our clients], acc 12 December 2011 </ref> | ||
| + | *In 2014 [[Cicero Consulting]] handled its UK public affairs services<ref> [http://www.appc.org.uk/members/register/register-profile/?company=Cicero%20Group Register 1st September 2014 - 30th November 2014] ''APPC'', accessed 29 January 2015 </ref> | ||
| + | *[[The Communication Group plc]]<ref> [http://www.prca.org.uk/assets/files/Consultancy%20Register%20Sept-Nov%202014.pdf Agency Register September to November 2014] ''PRCA'', accessed 25 March 2015 </ref> | ||
| + | |||
| + | ===People=== | ||
| + | *[[Julian Pettifer]], environmentalist journalist made PR film and praised RTZ | ||
| + | |||
| + | ===Resources=== | ||
| + | *[[Rio Tinto Zinc: Extract from 'Written in Flames']] | ||
| − | + | ==Notes== | |
| + | <references/> | ||
| + | [[category:Mining Industry]][[Category:Transnational Corporations]] [[Category:Mining]] | ||
| + | [[Category:Mining and Metals]] [[Category:Aluminium Industry]] [[Category:Mining and Metals: Transnational Corporations]] [[Category:Steel Industry]] | ||
Latest revision as of 14:49, 25 March 2015
|
This article is part of the Mining and Metals project of Spinwatch |
Rio Tinto is a multinational mining and resources group founded originally in 1873. The group is one of the world's largest mining companies, with a pre-tax profit of approximately US$10.2 billion in 2006 on consolidated turnover of $25.4 billion. It is the largest coal mining company in the world.[1] CEO Tom Albanese was the fifth-highest earning CEO on the FTSE 100 in 2011, taking £11,623,162 in the year till June 2011.[2]
Since 1995, Rio Tinto has been a dual-listed company. Rio Tinto Limited, formerly known as CRA, is listed on the Australian Securities Exchange, with Rio Tinto plc (formerly RTZ) listed on the London Stock Exchange as well as New York Stock Exchange (under ticker RTP). The two companies are managed as a single economic unit by a unified board, with a share in either company entitling the owner to the same voting rights and dividend payouts. RTZ shareholders made up 76.7 percent of the new unified entity, which is primarily managed from London. Its current chief executive is Tom Albanese and the company board is chaired by Paul Skinner.
In 2007 Rio Tinto merged with Canadian formed Aluminium company Alcan to form Rio Tinto Alcan. See the Rio Tinto Alcan page for an expanded account of the company's activities.
See Corporate Watch's detailed pages on Rio Tinto, including Corporate Crimes and Influence and Lobbying.
Contents
History
The origins of Rio Tinto (Spanish for 'dark red river') are in southern Spain, at the site of an ancient mine [3] which supplied the Phoenicians, Ancient Greeks, Carthaginians and the Roman Empire. In 1873 N M Rothschild & Sons of London and de Rothschild Frères of Paris joined with other investors to acquire the Spanish government's money-losing Rio Tinto mines. The new owners restructured the company and turned it into a profitable business. By 1905, the Rothschild interest in Rio Tinto amounted to more than 30 percent. Alfred Milner, 1st Viscount Milner served as chairmen for a period before World War One.
In 1962 the (British) Rio Tinto Company acquired a majority stake in Consolidated Zinc, an Australian company, and was renamed Rio Tinto Zinc Corporation (RTZ). The Australian company was renamed Conzinc Riotinto of Australia (CRA) but retained a separate corporate identity, with an increasing proportion of its shares being held by the Australian public. The current dual listed company structure was created in 1995.
People
Directors in Feb 2012
- Jan du Plessis Chairman
- Tom Albanese Chief executive (resigned January 2013)
- Guy Elliott Chief financial officer
- Sam Walsh Chief executive, Iron Ore and Australia - appointed CEO after Albanese resigned in January 2013
- Robert Brown Non executive director
- Vivienne Cox Non executive director
- Michael Fitzpatrick Non executive director
- Ann Godbehere Non executive director
- Richard Goodmanson Non executive director
- Andrew Gould Non executive director
- Lord Kerr of Kinlochard Non executive director
- Christopher Lynch Non executive director
- Paul Tellier Non executive director
- John Varley Non executive director[4]
Directors in March 2008
Chairman and executive directors [5]
- Paul Skinner - Chairman, London
- Tom Albanese - Chief executive, London
- Guy Elliott - Finance director, London
- Dick Evans (Australia) - Executive director & Chief executive, Rio Tinto Alcan, Montreal
- Andrew Mackenzie - Chief Executive Diamonds and Minerals with Rio Tinto plc (since 2004). Mackenzie also serves as Non-executive Director with energy company Centrica, is a Trustee with think tank Demos (where he was Chairman of the Board of Trustees between 2005 to 2007) and Group Executive and Chief Executive Non Ferrous at BHP Billiton. He previously served 22 years with BP plc (in a variety of senior technical and engineering positions before becoming Group Vice President of BP Petrochemicals)[6]
Non executive directors [7]
- Sir David Clementi
- Vivienne Cox
- Sir Rod Eddington
- Michael Fitzpatrick (Australia)
- Yves Fortier
- Richard Goodmanson
- Andrew Gould
- Lord Kerr of Kinlochard
- David Mayhew
- Richard Sykes
- Paul Tellier
Affiliations
Lobbyists
- In 2011 Rio Tinto was listed as a UK client of Bell Pottinger Public Affairs. [8]
- In 2014 Cicero Consulting handled its UK public affairs services[9]
- The Communication Group plc[10]
People
- Julian Pettifer, environmentalist journalist made PR film and praised RTZ
Resources
Notes
- ↑ BLCP Coal-fired Power Plant - The Climate Killer, Greenpeace, accessdate=2008-02-27
- ↑ Directors' Pay Report 2011 (2011), IDS, London. See also: Stephen Foley, 'Business as usual: top directors get 49 per cent pay rise', The Independent, 28 October 2011, accessed 30 November 2011
- ↑ [1]
- ↑ Rio Tinto Management Accessed 21/02/2012
- ↑ Chairman and executive directors, Rio Tinto, accessed March 7, 2008.
- ↑ Centrica Management Accessed 26th August 2008
- ↑ Non executive directors, Rio Tinto, accessed March 7, 2008.
- ↑ Our clients, acc 12 December 2011
- ↑ Register 1st September 2014 - 30th November 2014 APPC, accessed 29 January 2015
- ↑ Agency Register September to November 2014 PRCA, accessed 25 March 2015
