- BUSINESS EXPANSION – Commended
- ENVIRONMENTAL – Commended
- INNOVATION – Commended
- INVESTMENTS – Commended
- RESEARCH AND DEVELOPMENT – Commended
Mining Technology Excellence Rankings 2022 – The Verdict
Rio Tinto is an international metals and mining company ranked in Business Expansion, Environmental, Innovation, Investments and Research and Development in the 2022 Mining Technology Excellence Rankings..
Environmental initiatives during the research period included the company signing a memorandum of understanding (MOU) with China’s steel producer Shougang Group to explore low-carbon solutions for the steel industry. The duo will promote research, design and deployment of decarbonisation tools for the steel value chain. The company had previously done similar research with BlueScope and also partnered with Schneider Electric to explore decarbonisation efforts.
Elsewhere Rio Tinto and Australian Renewable Energy Agency (Arena) teamed up to study the feasibility of replacing natural gas with hydrogen in alumina refineries to reduce emissions including testing at the Yarwun Alumina Refinery in Gladstone.
Some of the company’s key investments include an agreement with the Canadian government to invest up to C$737m ($533.6m) in the Rio Tinto Fer et Titane (RTFT) operations in Sorel-Tracy, Québec in order to reduce carbon dioxide emissions and expand research and development. The company also invested C$240m ($188m) to boost the production of low-carbon aluminum billets at its Alma smelter in Lac-Saint-Jean, Quebec.
Rio Tinto and Australian Renewable Energy Agency (ARENA) teamed up to study the feasibility of replacing natural gas with hydrogen in alumina refineries
The company made a number of significant acquisitions too including an $825m deal to take over the Rincon lithium project in Argentina from Rincon Mining. With a reduced carbon footprint, the Rinco project is anticipated to produce battery-grade lithium carbonate. Rio Tinto also acquired a 49% interest in Canadian mining firm Turquoise Hill, which holds a controlling stake of 66% in the large-scale copper-gold mining project Oyu Tolgoi.
The company also formed a joint venture (JV) with steel production firm China Baowu Steel Group (Baowu) to develop the Western Range iron ore project in the Pilbara region of Western Australia, and collaborated with battery metals innovator Nano One Materials to enhance the latter’s multi-cathode (multi-CAM) commercialisation plan.
Rio Tinto is an international metals and mining company that carries out the mining, exploration, and processing of various mineral resources. It supplies a range of minerals and metals, including aluminium, diamonds, uranium, copper, gold and iron ore.
Rio Tinto also supplies industrial minerals such as borax, titanium dioxide and salt. The company operates port and rail facilities, smelters, refineries, processing plants, shipping, and commercial and research facilities. It also carries out the exploration, technology and innovation business through research centers.
The company has operations in Europe, Africa, Asia-Pacific, the Middle East and the Americas. Rio Tinto is headquartered in London, Greater London, the UK.