The leading metals and mining company, Rio Tinto announced an investment of $10 million in order to support local community efforts to fight COVID-19 and its social and economic impacts across Canada and the United States.
Rio Tinto is delivering critical equipment for people working in hospitals to providing practical support to communities and families to help fight the pandemic. In addition, the company is also supporting projects that maintain and create regional economic development, which is vital for the long-term prosperity of communities where it operates across Canada and the United States.
Recent investments and expansions by Rio Tinto are featured below:
- February 2020: Rio Tinto, announced its plans to invest approximately $1 billion over the next five years to support the delivery of its new climate change targets and the company objective for net zero greenhouse gas emissions from operations by 2050.
- February 2020: Rio Tinto has announced an investment of $98 million in a new solar plant at the Koodaideri mine in Pilbara, Australia, as well as a lithium-ion battery energy storage system to help power its entire Pilbara power network. The solar plant will be Rio Tintos first company-owned solar facility, and it will consist of more than 100,000 panels, covering an area of 105 hectares. Construction will be completed by the end of 2021. The companys 34-megawatt solar photovoltaic plant is expected to supply all of Koodaideris electricity demand and approximately 65% of the mines average electricity demand.
- January 2020: Rio Tinto had awarded Mondium, a Perth-based company, the contract for the design and construction of the Western Turner Syncline Phase 2 (WTS2) mine in the Pilbara region of Western Australia. As per the agreement, Mondium will undertake all engineering and design, procurement and site construction works associated with the WTS2 development. The project will create 450 jobs for locals.
- December 2019: Rio Tinto had approved a $1.5 billion investment to continue production at its Kennecott copper site till 2032 in the USA. This surplus investment will commence in 2020. Rio Tinto, with this project, has invested more than $5 billion in modernisation, environmental stewardship, and mine-life extension initiatives since 1989.
- September 2019: Rio Tinto, had signed a Memorandum of Understanding (MOU) with Chinas largest steel producer, China Baowu Steel Group and Tsinghua University, one of Chinas most prestigious and influential universities, to develop and implement new methods to reduce carbon emissions and improve environmental performance across the steel value chain.
About Rio Tinto
London based Rio Tinto is one of the leading producers of gold, silver, copper, platinum group metals and molybdenum in North America, and a potential source of critical minerals such as rhenium and tellurium. The company employs 47,000 people in around 35 countries across six continents.
Rio Tinto, strongly represented in Australian and North American region, also has significant businesses in Asia, Europe, Africa and South America. The company has wide organisational structure, includes four product groups Aluminium, Copper & Diamonds, Energy & Minerals and Iron Ore and complemented by our Growth & Innovation and Commercial groups.