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97-538: Mining giant Rio Tinto Group , which was historically Bougainville Copper Limited's major shareholder, exited on 30 June 2016 when it transferred its 53.8 per cent shareholding for distribution to the Autonomous Bougainville Government and the Independent State of Papua New Guinea . The mine at Panguna was opened in 1972 and was majority-owned by Rio Tinto . The mine was vitally important to

194-408: A V-2 rocket . Nonetheless, trading continued in the house's basement. After decades of uncertain if not turbulent times, stock market business boomed in the late 1950s. This spurred multiple officials to find new, more suitable accommodation. The work on the new Stock Exchange Tower began in 1967. The Exchange's new 321 feet (98 metres) high building had 26 storeys with council and administration at

291-580: A board of directors drawn from the Exchange's executive, customer, and user base; and the trading name became "The London Stock Exchange". The FTSE 100 Index (pronounced "Footsie 100") was launched by a partnership of the Financial Times and the Stock Exchange on 3 January 1984. This turned out to be one of the most useful indices of all, and tracked the movements of the 100 leading companies listed on

388-552: A bid of £ 3.68 million ( ESP 92.8 million). The bid also specified that Spain would permanently relinquish any right to claim royalties on the mine's production. Following purchase of the mine, the syndicate launched the Rio Tinto Company, registering it on 29 March 1873. At the end of the 1880s, control of the firm passed to the Rothschild family , who increased the scale of its mining operations. Following their purchase of

485-572: A clause preventing "unchartered" companies from forming. After the Seven Years' War (1756–1763), trade at Jonathan's Coffee House boomed again. In 1773, Jonathan, together with 150 other brokers, formed a club and opened a new and more formal "Stock Exchange" in Sweeting's Alley. This now had a set entrance fee, by which traders could enter the stock room and trade securities. It was, however, not an exclusive location for trading, as trading also occurred in

582-614: A key factor in recommending the transaction to its shareholders. In March 2010, it was announced that Chinalco would invest $ 1.3 billion for a 44.65% stake in Rio Tinto's iron ore project in Simandou , Guinea. Rio Tinto retained 50.35% ownership at Simandou. In November 2011, Rio joined with Chinalco to explore for copper resources in China's complex landscape, by setting up a new company, CRTX, 51% owned by Chinalco and 49% by Rio Tinto. Under

679-592: A major producer of borax , bought in 1968, Kennecott Utah Copper and BP 's coal assets which were bought from BP in 1989, and a 70.7% interest in the New South Wales operations of Coal & Allied , also in 1989. In 1993, the company acquired Nerco and the United States coal mining businesses of Cordero Mining Company . In 2000, Rio Tinto acquired North Limited , an Australian company with iron ore and uranium mines, for $ 2.8 billion. The takeover

776-556: A memorandum of understanding to develop Rio Tinto's iron ore project in the Simandou mine in Simandou , Guinea . On 29 July 2010, Rio Tinto and Chinalco signed a binding agreement to establish this joint venture covering the development and operation of the Simandou mine. Under the terms of the agreement, the joint venture maintains Rio Tinto's 95% interest in the Simandou project as follows: By providing US$ 1.35 billion on an earn-in basis through sole funding of ongoing development over

873-456: A price later determined to be well below actual value. The purchasers of the mine were led by Hugh Matheson 's Matheson & Company , which ultimately formed a syndicate consisting of Deutsche Bank (56% ownership), Matheson (24%) and the civil engineering firm Clark, Punchard and Company (20%). At an auction held by the Spanish government to sell the mine on 14 February 1873, the group won with

970-403: A regulated stock market, which had teething problems in the shape of unlicensed brokers. In order to regulate these, Parliament passed an Act in 1697 that levied heavy penalties, both financial and physical, on those brokering without a licence. It also set a fixed number of brokers (at 100), but this was later increased as the size of the trade grew. This limit led to several problems, one of which

1067-477: A thousand members quit the Exchange between 1914 and 1918. When peace returned in November 1918, the mood on the trading floor was generally cowed. In 1923, the Exchange received its own coat of arms , with the motto Dictum Meum Pactum , My Word is My Bond. In 1937, officials at the Exchange used their experiences from World War I to draw up plans for how to handle a new war. The main concerns included air raids and

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1164-550: A two-to-three-year period, Chalco, a subsidiary of Chinalco, would acquire a 47% interest in the joint venture. Once the full sum was paid, Rio Tinto would be left with a 50.35% interest in the project and Chalco would have 44.65%. The remaining 5% would be owned by the International Finance Corporation (IFC), the financing arm of the World Bank . On 22 April 2011 Rio Tinto, its subsidiary Simfer S.A. (Simfer), and

1261-653: Is a stock exchange based in London , England. As of August 2023, the total market value of all companies trading on the LSE stood at $ 3.18 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cathedral . Since 2007, it has been part of the London Stock Exchange Group (LSEG, which the exchange also lists (ticker symbol LSEG)). Despite a post- Brexit exodus of stock listings from

1358-552: Is a British-Australian multinational company that is the world's second largest metals and mining corporation (behind BHP ). It was founded in 1873 when a group of investors purchased a mine complex on the Rio Tinto , in Huelva , Spain, from the Spanish government. It has grown through a long series of mergers and acquisitions. Although primarily focused on extraction of minerals, it also has significant operations in refining, particularly

1455-554: Is a dramatic turnaround in policy from the Autonomous Bougainville Government, which determined landowners felt BCL didn't deserve a social licence to run the mine. In February 2018, BCL begun legal proceedings against the Autonomous Bougainville Government following the cancellation of the exploration license. 6°18′55″S 155°29′47″E  /  6.31528°S 155.49639°E  / -6.31528; 155.49639 Rio Tinto Group Rio Tinto Group

1552-544: Is classified as a Multilateral Trading Facility (MTF) under the 2004 MiFID directive, and as such it is a flexible market with a simpler admission process for companies wanting to be publicly listed. The securities available for trading on LSE: Through the Exchange's Italian arm, Borsa Italiana , the London Stock Exchange Group as a whole offers clearing and settlement services for trades through CC&G (Cassa di Compensazione e Garanzia) and Monte Titoli.

1649-471: Is mainly concentrated in Australia and Canada, and owns its mining operations through a complex web of wholly and partly owned subsidiaries. Rio Tinto is primarily organised into four operational businesses, divided by product type: These operating groups are supported by separate divisions providing exploration and function support. Rio Tinto is structured as a dual-listed company , with listings on both

1746-665: Is the Groups Central Counterparty and covers multiple asset classes throughout the Italian equity, derivatives and bond markets. CC&G also clears Turquoise derivatives. Monte Titoli is the pre-settlement, settlement, custody and asset services provider of the Group. Monte Titoli operates both on-exchange and OTC trades with over 400 banks and brokers. The LSE's trading platform is its own Linux -based edition named Millennium Exchange . Their previous trading platform TradElect

1843-407: Is wholly owned. Operations typically include mining of ore through to production of 99.99% purified copper, including extraction of economically valuable by-products . Together, Rio Tinto's share of copper production at its mines totalled nearly 700,000 tonnes , making the company the fourth-largest copper producer in the world. London Stock Exchange The London Stock Exchange ( LSE )

1940-480: The Australian Competition & Consumer Commission . The largest barrier to completing the investment may come from Rio Tinto's shareholders; support for the deal by shareholders was never overwhelming and has reportedly declined in 2009, as other financing options (such as a more traditional bond issuance) are beginning to appear more realistic as a viable alternative funding source. A shareholder vote on

2037-558: The Bougainville separatist crisis . There have also been corruption concerns: In July 2017 the UK's Serious Fraud Office announced an investigation of the company's business practices in Guinea . Since antiquity, a site along the Rio Tinto in Huelva , Spain, has been mined for copper, silver, gold and other minerals. Around 3000 BC, Iberians and Tartessians began mining the site, followed by

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2134-788: The FTSE 100 Index of the London Stock Exchange, and the S&;P/ASX 200 index of the Australian Securities Exchange. LSE-listed shares in Rio Tinto plc can also be traded indirectly on the New York Stock Exchange via an American Depositary Receipt . As of 4 March 2009, Rio Tinto was the fourth-largest publicly listed mining company in the world, with a market capitalisation around $ 134 billion. As of mid-February 2009, shareholders were geographically distributed 42% in

2231-587: The London Stock Exchange (symbol: RIO), under the name "Rio Tinto Plc", and the Australian Securities Exchange (symbol: RIO) in Sydney, under the name "Rio Tinto Limited". The dual-listed company structure grants shareholders of the two companies the same proportional economic interests and ownership rights in the consolidated Rio Tinto, in such a way as to be equivalent to all shareholders of

2328-574: The New York Stock Exchange , giving it listings on three major stock exchanges. In the 2020 Forbes Global 2000 , it was ranked the world's 114th-largest public company. 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

2425-452: The Phoenicians , Greeks , Romans , Visigoths and Moors . After a period of abandonment, the mines were rediscovered in 1556 and the Spanish government began operating them once again in 1724. 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

2522-611: The Pilbara , Western Australia. The Pilbara iron ore operations include 16 iron ore mines, four independent port terminals, a 1,700-kilometre rail network and related infrastructure. The corporation also has had a majority stake in Iron Ore Company of Canada since its 2000 hostile takeover of North Limited. Copper was one of Rio Tinto's main products from its earliest days operating at the Rio Tinto complex of mines in Spain. Since that time,

2619-464: The Spanish Civil War , World War II and Franco's nationalistic policies . In the 1950s, the political situation made it increasingly difficult for mostly British and French owners to extract profits from Spanish operations, and the company decided to dispose of the mines from which it took its name. Thus, in 1954, Rio Tinto Company sold two-thirds of its stake in the Rio Tinto mines, disposing of

2716-781: The University of Ulster published adverse findings about the company from during the period of civil war. This research suggested that BCL placed pressure on the PNG government to assert its authority on Bougainville, following acts of industrial sabotage. The company purportedly aided the security forces by providing them with trucks, fuel, accommodation, communications equipment, storage space, messing facilities and office resources after concerns about human rights abuses became apparent. These allegations were previously denied by BCL's former Chairman, but Dr Lasslett insists on their veracity. In his first statement on Radio Australia Pacific Beat on 8 June 2010,

2813-562: The economy of Papua New Guinea . The PNG national government received a 20% share of profit from the mine, of which the Bougainvilleans received 0.5% to 1.25% share of the total profit. The first Bougainville independence movement began to arise in the late 1960s, as people began to air their grievances against the then Australian colonial government over the handling of the Panguna mine. Australian External Territories Minister Charles Barnes

2910-418: The uranium market ; to do so, the cartel engaged in bid rigging , price fixing , and market sharing . Westinghouse filed an antitrust lawsuit against cartel members in 1976 and the cartel disbanded. Like many major mining companies, Rio Tinto has historically grown through a series of mergers and acquisitions. The company's first major acquisition occurred in 1929, when the company issued stock for

3007-401: The "Spanish panic" hit the markets, followed by a second one two years later. By June 1853, both participating members and brokers were taking up so much space that the Exchange was now uncomfortably crowded, and continual expansion plans were taking place. Having already been extended west, east, and northwards, it was then decided the Exchange needed an entire new establishment. Thomas Allason

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3104-486: The $ 16 billion Canadian group's " poison pill " defence was not valid. Ivanhoe had developed Oyu Tolgoi in Mongolia, one of the world's largest-known copper deposits. On 28 January 2012, Rio Tinto gained control of Ivanhoe Mines and removed the management. In October 2013, Rio Tinto agreed to sell its majority stake in Australia's third-largest coal mine to Glencore and Sumitomo for a little over US$ 1 billion, as part of

3201-628: The Australian coal businesses of the Peabody Energy . On 14 November 2007, Rio Tinto completed its largest acquisition to date, purchasing Canadian aluminium company Alcan for $ 38.1 billion, as of 2014 , "the largest mining deal ever completed". Alcan's chief executive, Jacynthe Côté, led the new division, renamed Rio Tinto Alcan with its headquarters situated in Montreal . Activity in 2008 and 2009

3298-460: The Australian firm Consolidated Zinc to form the Rio Tinto – Zinc Corporation (RTZ) and its main subsidiary, Conzinc Riotinto of Australia (CRA). The merger provided Rio Tinto the ability to exploit its new-found opportunities, and gave Consolidated Zinc a much larger asset base. RTZ and CRA were separately managed and operated, with CRA focusing on opportunities within Australasia and RTZ taking

3395-478: The Bougainville government enacted an indefinite moratorium on renewing the licence of BCL over fears it could reignite violent civil conflict. Bougainville landowner groups were called to vote on allowing BCL to renew their mining licence and potentially reopen the Panguna mine, but lacked support. President Momis asserted that progressing with BCL could "cause a total explosion of the situation again". The moratorium

3492-677: The Electronic Trading Service (SETS) was launched, bringing greater speed and efficiency to the market. Next, the CREST settlement service was launched. In 2000, the LSE's shareholders voted to become a public limited company, London Stock Exchange plc. The LSE also transferred its role as the United Kingdom's listing authority to the Financial Services Authority . EDX London , an international equity derivatives business,

3589-450: The Exchange was progressively becoming an accepted part of the financial life in the city. In spite of continuous criticism from newspapers and the public, the government used the Exchange's organised market (and would most likely not have managed without it) to raise the enormous amount of money required for the wars against Napoleon. After the war and facing a booming world economy, foreign lending to countries such as Brazil, Peru and Chile

3686-575: The Exchange. On 20 July 1990, a bomb planted by the Provisional Irish Republican Army (IRA) exploded in the men's toilets behind the visitors' gallery. The area had already been evacuated and nobody was injured. About 30 minutes before the blast at 8:49 a.m., a man who said he was a member of the IRA told Reuters that a bomb had been placed at the exchange and was about to explode. Police officials said that if there had been no warning,

3783-600: The Guinean Government signed a settlement agreement that secured Rio Tinto's mining rights in Guinea to the southern concession of Simandou, known as blocks 3 and 4. According to the agreement, Simfer would pay US$ 700 million and receive mining concession and government approval of the proposed Chalco and Rio Tinto Simandou joint venture. In April 2011, Rio Tinto gained a majority stake in Riversdale Mining . In 2011,

3880-448: The LSE merged with Borsa Italiana , creating London Stock Exchange Group (LSEG). The Group's headquarters are in Paternoster Square . Paternoster Square was the initial target for the protesters of Occupy London on 15 October 2011. Attempts to occupy the square were thwarted by police. Police sealed off the entrance to the square as it is private property, a High Court injunction having previously been granted against public access to

3977-679: The LSE: the main market and the alternative investment market. The main market is home to over 1,300 large companies from 60 countries. The FTSE 100 Index ("footsie") is the main share index of the 100 most highly capitalised British companies listed on the Main Market. The Alternative Investment Market is LSE's international market for smaller companies. A wide range of businesses including early-stage, venture capital -backed, as well as more-established companies join AIM seeking access to growth capital. The AIM

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4074-553: The London Stock Exchange, the LSE was the most valued stock exchange in Europe as of 2023. According to the 2020 Office for National Statistics report, approximately 12% of UK-resident individuals reported having investments in stocks and shares. According to a 2020 Financial Conduct Authority report, approximately 15% of British adults reported having investments in stocks and shares. The Royal Exchange had been founded by English financier Thomas Gresham and Sir Richard Clough on

4171-665: The Rio Tinto Mine, the new ownership constructed a number of new processing facilities, innovated new mining techniques, and expanded mining activities. From 1877 to 1891, the Rio Tinto Mine was the world's leading producer of copper. From 1870 through 1925, the company was inwardly focused on fully exploiting the Rio Tinto Mine, with little attention paid to expansion or exploration activities outside of Spain. The company enjoyed strong financial success until 1914, colluding with other pyrite producers to control market prices. However, World War I and its aftermath effectively eliminated

4268-547: The Rotunda of the Bank of England. Fraud was also rife during these times and in order to deter such dealings, it was suggested that users of the stock room pay an increased fee. This was not met well and ultimately, the solution came in the form of annual fees and turning the Exchange into a Subscription room. The Subscription room created in 1801 was the first regulated exchange in London, but

4365-528: The United Kingdom, 18% in North America, 16% in Australia, 14% in Asia and 10% in continental Europe. On 8 November 2007, rival mining company BHP Billiton announced it was seeking to purchase Rio Tinto in an all-share deal. This offer was rejected by the board of Rio Tinto as "significantly undervalu[ing]" the company. Another attempt by BHP Billiton for a hostile takeover , valuing Rio Tinto at $ 147 billion,

4462-432: The United States as a viable market for European pyrites , leading to a decline in the firm's prominence. The company's failure to diversify during this period led to the slow decline of the company among the ranks of international mining firms. However, this changed in 1925, when Sir Auckland Geddes succeeded Lord Alfred Milner as chairman. Geddes and the new management team he installed focused on diversification of

4559-482: The arrested, Australian citizen Stern Hu , was "suspected of stealing Chinese state secrets for foreign countries and was detained on criminal charges", according to a spokesman for the Chinese foreign ministry. Stern Hu was also accused of bribery by Chinese steel mill executives for sensitive information during the iron ore contract negotiations. On 19 March 2010 Rio Tinto and its biggest shareholder, Chinalco , signed

4656-458: The committee and Parliament , respectively. The Stock Exchange ended up being closed from the end of July until the New Year, causing street business to be introduced again, as well as the "challenge system". The Exchange was set to open again on 4 January 1915 under tedious restrictions: transactions were to be in cash only. Due to the limitations and challenges on trading brought by the war, almost

4753-519: The company has divested itself from its original Spanish mines, and grown its copper-mining capacity through acquisitions of major copper resources around the world. The copper group's main active mining interests are Oyu Tolgoi mine in Mongolia, Kennecott Utah Copper in the United States, and Minera Escondida in Chile. Most of these mines are joint ventures with other major mining companies, with Rio Tinto's ownership ranging from 30% to 80%; only Kennecott

4850-492: The company in represented by DPG Advisory Solutions. Rio Tinto's main business is the production of raw materials including copper, iron ore, bauxite, diamonds, uranium and industrial minerals including titanium dioxide, salt, gypsum and borates. Rio Tinto also performs processing on some of these materials, with plants dedicated to processing bauxite into alumina and aluminium, and smelting iron ore into iron. The company also produces other metals and minerals as by-products from

4947-558: The company rekindled its interest in potash when it entered a joint venture with Acron Group to develop the Albany potash development, in southern Saskatchewan , Canada. Following an exploration program, Acron in a June 2014 statement described Albany as "one of the best potash development opportunities in the world". On 13 December 2011, an independent arbitrator cleared the way for Rio Tinto, which had owned 49% of Ivanhoe Mines (now known as Turquoise Hill Resources ), to take it over: he said

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5044-456: The company's dual-listed company structure, management powers of the Rio Tinto are consolidated in a single senior management group led by a board of directors and executive committee. The board of directors has both executive and non-executive members, while the executive committee is composed of the heads of major operational groups. Rio Tinto engages professional lobbyists to represent its interests in various jurisdictions. In South Australia,

5141-498: The company's investment strategy and the introduction of organisational and marketing reforms. Geddes led the company into a series of joint ventures with customers in the development of new technologies, as well as exploration and development of new mines outside of Spain. Between 1925 and 1931, Geddes recruited two directors: JN Buchanan (finance director) and RM Preston (commercial director), as well as other executives involved with technical and other matters. Perhaps most significant

5238-461: The concerns for air raids were greater than ever. Eventually, on the night of 29 December 1940, one of the greatest fires in London's history took place. The Exchange's floor was hit by a clutch of incendiary bombs , which were extinguished quickly. Trading on the floor was now drastically low and most was done over the phone to reduce the possibility of injuries. The Exchange was only closed for one more day during wartime, in 1945 due to damage from

5335-459: The earliest evidence of organised trading in marketable securities in London. After Gresham's Royal Exchange building was destroyed in the Great Fire of London , it was rebuilt and re-established in 1669. This was a move away from coffee houses and a step towards the modern model of stock exchange. The Royal Exchange housed not only brokers but also merchants and merchandise. This was the birth of

5432-508: The financial industry "and the corrosive impacts of the ... sector on the world we live in" and activists also blocked entrances to HM Treasury and the Goldman Sachs office on Fleet Street . On 3 March 2022 the LSE declared it would suspend trading in GDR securities for Russian firms, subsequent to the 2022 Russian invasion of Ukraine . There are two main markets on which companies trade on

5529-553: The financial markets in the UK in 1986. The phrase "Big Bang" was coined to describe measures, including abolition of fixed commission charges and of the distinction between stockjobbers and stockbrokers on the London Stock Exchange, as well as the change from an open outcry to electronic, screen-based trading . In 1995, the Exchange launched the Alternative Investment Market , the AIM, to allow growing companies to expand into international markets. Two years later,

5626-491: The firm's plans to focus on larger operations. Less than a year later, Rio Tinto rejected two merger proposals from Glencore, proffered in July and August 2014; the merger of Glencore and Rio Tinto would have created the world's largest mining company. In May 2015, Rio Tinto announced plans to sell some of its aluminium assets as part of a possible $ 1 billion deal, two years after a similar but failed attempt. In September 2020, it

5723-526: The floor. Second, in March the London Stock Exchange formally merged with the eleven British and Irish regional exchanges, including the Scottish Stock Exchange . This expansion led to the creation of a new position of chief executive officer ; after an extensive search this post was given to Robert Fell. There were more governance changes in 1991, when the governing Council of the Exchange was replaced by

5820-481: The human toll would have been very high. The explosion ripped a hole in the 23-storey building in Threadneedle Street and sent a shower of glass and concrete onto the street. The long-term trend towards electronic trading platforms reduced the Exchange's attraction to visitors, and although the gallery reopened, it was closed permanently in 1992. The biggest event of the 1980s was the sudden de-regulation of

5917-844: The last Ice Age . The company later apologised for the demolition and CEO Jean-Sébastien Jacques subsequently stepped down. 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 damage related to its engagement in the Grasberg mine in Indonesia led the Government Pension Fund of Norway to exclude it from its investment portfolio. Academic observers have also expressed concern regarding Rio Tinto's operations in Papua New Guinea, which they allege were one catalyst of

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6014-420: The long-term strategies of the joint company is to expand Borsa Italiana's efficient clearing services to other European markets. In 2007, after Borsa Italiana announced that it was exercising its call option to acquire full control of MBE Holdings; thus the combined Group would now control Mercato dei Titoli di Stato, or MTS. This merger of Borsa Italiana and MTS with LSE's existing bond-listing business enhanced

6111-587: The model of the Antwerp Bourse . It was opened by Elizabeth I of England in 1571. During the 17th century, stockbrokers were not allowed in the Royal Exchange due to their perceived rude manners. They had to operate from other establishments in the vicinity, notably Jonathan's Coffee-House . At that coffee house, a broker named John Castaing started listing the prices of a few commodities including salt, coal, paper, and exchange rates in 1698. Originally, this

6208-494: The newly elected President of Bougainville, John Momis , declared that the Panguna mine has to be reopened to assure Bougainville's future economic growth. A referendum on Bougainville's independence must be held no later than June 2020 under the Bougainville Peace Agreement. During 2017, President Momis and the Autonomous Bougainville Government advocated for the re-opening of the Panguna mine. In January 2018,

6305-546: The processing of its main resources, including gold, silver, molybdenum , sulphuric acid , nickel, potash , lead and zinc . Rio Tinto controls gross assets of $ 81 billion in value across the globe, with main concentrations in Australia (35%), Canada (34%), Europe (13%) and the United States (11%), and smaller holdings in South America (3%), Africa (3%) and Indonesia (1%). The Australian operations of Rio Tinto Iron Ore (RTIO) comprises an integrated iron ore operations in

6402-452: The proposed deal was expected in the third quarter of 2009. Rio Tinto is believed to have pursued this combined asset and convertible bond sale to raise cash to satisfy its debt obligations, which required payments of $ 9.0 billion in October 2009 and $ 10.5 billion by the end of 2010. The company has also noted China's increasing appetite for commodities, and the potential for increased opportunities to exploit these market trends, as

6499-430: The purchase of ownership interests of Rio Tinto assets in its iron ore, copper and aluminium operations, plus $ 7.2 billion for convertible bonds . The transaction would bring Chinalco's ownership of the company to roughly 18.5%. The deal is still pending approval from regulators in the United States and China, and has not yet been approved by shareholders, although regulatory approval has been received from Germany and

6596-444: The purpose of raising 2.5 million pounds to invest in Northern Rhodesian copper mining companies, which was fully invested by the end of 1930. The Rio Tinto company consolidated its holdings of these various firms under the Rhokana Corporation by forcing the various companies to merge. Rio Tinto's investment in Rhodesian copper mines did much to support the company through troubled times at its Spanish Rio Tinto operations spanning

6693-425: The refining of bauxite and iron ore. It has joint head offices in London , England and Melbourne , Australia. 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. American depositary shares of Rio Tinto's British branch are also traded on

6790-477: The rest of Great Britain also benefited from the economic boom. Two other cities in particular showed great business development: Liverpool and Manchester. Consequently, in 1836 both the Manchester and Liverpool stock exchanges were opened. Some stock prices sometimes rose by 10%, 20% or even 30% in a week. These were times when stockbroking was considered a real business profession, and such attracted many entrepreneurs. Nevertheless, with booms came busts, and in 1835

6887-411: The rest of the world. However, the companies continued to trade separately, and RTZ's ownership of CRA dipped below 50% by 1986. The two companies' strategic needs eventually led to conflicts of interest regarding new mining opportunities, and shareholders of both companies determined a merger was in their mutual best interest. In 1995, the companies merged into a dual listed company , in which management

6984-451: The rest over the following years. The sale of the mines financed extensive exploration activities over the following decade. The company's exploration activities presented the company with an abundance of opportunities, but it lacked sufficient capital and operating revenue to exploit those opportunities. This situation precipitated the next, and perhaps most significant, merger in the company's history. In 1962, Rio Tinto Company merged with

7081-523: The square. The protesters moved nearby to occupy the space in front of St Paul's Cathedral . The protests were part of the global Occupy movement . On 25 April 2019, the final day of the Extinction Rebellion disruption in London, 13 activists glued themselves together in a chain, blocking the entrances of the LSE. The protesters were all later arrested on suspicion of aggravated trespass. Extinction Rebellion had said its protesters would target

7178-418: The subsequent bombing of the Exchange's perimeters, and one suggestion was a move to Denham , Buckinghamshire. This however never took place. On the first day of September 1939, the Exchange closed its doors "until further notice" and two days later World War II was declared. Unlike in the prior war, the Exchange opened its doors again six days later, on 7 September. As the war escalated into its second year,

7275-489: The top, and middle floors let out to affiliate companies. Queen Elizabeth II opened the building on 8 November 1972; it was a new City landmark, with its 23,000 sq ft (2,100 m ) trading floor. 1973 marked a year of changes for the Stock Exchange. First, two trading prohibitions were abolished. A report from the Monopolies and Mergers Commission recommended the admittance of both women and foreign-born members on

7372-446: The transformation was not welcomed by all parties. On the first day of trading, non-members had to be expelled by a constable. In spite of the disorder, a new and bigger building was planned, at Capel Court. William Hammond laid the first foundation stone for the new building on 18 May. It was finished on 30 December when "The Stock Exchange" was incised on the entrance. In the Exchange's first operating years, on several occasions there

7469-427: The two companies actually being shareholders in a single, unified entity. This structure was implemented to avoid adverse tax consequences and regulatory burdens. To eliminate currency exchange issues, the company's accounts are kept, and dividends paid, in United States dollars. Rio Tinto is one of the largest companies listed on either exchange. As such, it is included in the widely quoted indices for each market:

7566-509: The world, both the City and the Stock Exchange were hit hard by the outbreak of World War I in 1914. Due to fears that borrowed money was to be called in and that foreign banks would demand their loans or raise interest, prices surged at first. The decision to close the Exchange for improved breathing space and to extend the August Bank Holiday to prohibit a run on banks, was hurried through by

7663-469: Was a growing market. Notably, the Foreign Market at the Exchange allowed for merchants and traders to participate, and the Royal Exchange hosted all transactions where foreign parties were involved. The constant increase in overseas business eventually meant that dealing in foreign securities had to be allowed within all of the Exchange's premises. Just as London enjoyed growth through international trade,

7760-426: Was able to divest two-thirds of its Spanish operations in 1954 and the remainder over the following years. The company was part of the uranium producers' cartel , Societe d'Etudes de Recherches d'Uranium, which operated from 1972 to 1976. The other cartel members were based in Australia, France, and South Africa. It was formed by the major non-United States uranium producers to mitigate the impacts of US policy on

7857-645: Was accused of telling the Bougainvillean people they would "get nothing". The issue of compensation went to the High Court of Australia, where it was found that the compensation was inadequate under ordinary federal Australian law, but that as an External Territory, Papua New Guinea was not guaranteed the same standards that applied to mainland Australia. Papua New Guinea has been an independent country since 16 September 1975. In 2010, using interviews with BCL executives and internal company documents, Dr Kristian Lasslet of

7954-592: Was announced Rio Tinto had acquired a 15% stake in the Australian exploration and development company, Sovereign Metals for US $ 27.6 million. In October 2024, Rio Tinto signed an agreement to acquire U.S.-based Arcadium Lithium for $ 6.7 billion. The deal involved a cash offer of $ 5.85 per share, reflecting a nearly 90% premium over Arcadium's recent closing price. The acquisition, expected to close in mid-2025, would integrate Arcadium's lithium assets into Rio's operations, further enhancing its portfolio of critical minerals. The company has operations on six continents, but

8051-568: Was announced that the LSE would merge with the Deutsche Börse ; however this fell through. On 23 June 2007, the LSE announced that it had agreed on the terms of a recommended offer to the shareholders of the Borsa Italiana S.p.A. The merger of the two companies created a leading diversified exchange group in Europe. The combined group was named the London Stock Exchange Group, but still remained two separate legal and regulatory entities. One of

8148-587: Was announced that the company's chief executive Jean-Sébastien Jacques , along with two executives, would resign because of Rio Tinto's destruction of two ancient rock shelters in the Pilbara region of Australia. The company's chief financial officer, Jakob Stausholm , became the new chief executive on 1 January 2021. In March 2022, Rio Tinto completed the acquisition of Rincon Mining's lithium project in Argentina for $ 825 million, following approval by Australia's Foreign Investment Review Board . In July 2023, it

8245-474: Was appointed as the main architect, and in March 1854, the new brick building inspired from the Great Exhibition stood ready. This was a huge improvement in both surroundings and space, with twice the floor space available. By the late 1800s, the telephone, ticker tape , and the telegraph had been invented. Those new technologies led to a revolution in the work of the Exchange. As the financial centre of

8342-479: Was based on Microsoft's .NET Framework , and was developed by Microsoft and Accenture. Despite TradElect only being in use for about two years, after suffering multiple periods of extended downtime and unreliability the LSE announced in 2009 that it was planning to switch to Linux in 2010. The main market migration to MillenniumIT technology was successfully completed in February 2011. The previous system, SETS,

8439-472: Was consolidated into a single entity and shareholder interests were aligned and equivalent, although maintained as shares in separately named entities. The merger also precipitated a name change; after two years as RTZ-CRA , RTZ became Rio Tinto plc and CRA became Rio Tinto Limited , referred to collectively as Rio Tinto . Major acquisitions following the Consolidated Zinc merger included US Borax ,

8536-474: Was created in 2003 in partnership with OM Group. The Exchange also acquired Proquote Limited, a new generation supplier of real-time market data and trading systems. The old Stock Exchange Tower became largely redundant with Big Bang, which deregulated many of the LSE's activities: computerised systems and dealing rooms replaced face-to-face trading. In 2004, the LSE moved to a brand-new headquarters in Paternoster Square , close to St Paul's Cathedral . In 2007,

8633-726: Was focused on divestments of assets to raise cash and refocus on core business opportunities. The company sold three major assets in 2008, raising about $ 3 billion in cash. In the first quarter of 2009, Rio Tinto reached agreements to sell its interests in the Corumbá iron ore mine and the Jacobs Ranch coal mine, and completed sales of an aluminium smelter in China and the company's potash operations, for an additional estimated $ 2.5 billion. On 5 July 2009, four Rio Tinto employees were arrested in Shanghai for corruption and espionage. One of

8730-468: Was in talks to receive a substantial equity infusion from Chinalco , a major Chinese state-controlled mining enterprise, in exchange for ownership interest in certain assets and bonds. Chinalco was already a major shareholder, having bought up 9% of the company in a surprise move in early 2008; its ownership stake had risen to 9.8% by 2014, making it Rio Tinto's biggest investor. The proposed investment structure reportedly involves $ 12.3 billion for

8827-612: Was introduced in October 1997 and used until 2007. The London Market Information Link, a COBOL application running on a HP Tandem server was used to disseminate market data to terminals before being replaced by Infolect. The LSE facilitates stock listings in a currency other than its "home currency". Most stocks are quoted in GBP but some are quoted in EUR while others are quoted in USD. On 3 May 2000, it

8924-568: Was no clear set of regulations or fundamental laws for the Capel Court trading. In February 1812, the General Purpose Committee confirmed a set of recommendations, which later became the foundation of the first codified rule book of the Exchange. Even though the document was not a complex one, topics such as settlement and default were, in fact, quite comprehensive. With its new governmental commandments and increasing trading volume,

9021-411: Was not a daily list and was only published a few days of the week. This list and activity was later moved to Garraway's coffee house. Public auctions during this period were conducted for the duration that a length of tallow candle could burn; these were known as "by inch of candle" auctions. As stocks grew, with new companies joining to raise capital, the royal court also raised some monies. These are

9118-564: Was partially motivated as a response to North Limited's 1999 bid to have Rio Tinto's Pilbara railway network declared open access . The Australian Competition & Consumer Commission regulatory body approved the acquisition in August 2000, and the purchase was completed in October of the same year. That year, Rio Tinto also bought North Limited and Ashton Mining for US$ 4 billion, adding additional resources in aluminium, iron ore, diamonds and coal. In 2001, it bought (under Coal & Allied)

9215-571: Was rejected on the same grounds. Meanwhile, the Chinese government-owned resources group Chinalco and the US aluminium producer Alcoa purchased 12% of Rio Tinto's London-listed shares in a move that would block or severely complicate BHP Billiton's plans to buy the company. BHP Billiton's bid was withdrawn on 25 November 2008, with the BHP citing market instability from the global financial crisis of 2008–2009 . On 1 February 2009, Rio Tinto management announced it

9312-592: Was that traders began leaving the Royal Exchange, either by their own decision or through expulsion, and started dealing in the streets of London. The street in which they were now dealing was known as ' Exchange Alley ', or 'Change Alley'; it was suitably placed close to the Bank of England . Parliament tried to regulate this and ban the unofficial traders from the Change streets. Traders became weary of "bubbles" when companies rose quickly and fell, so they persuaded Parliament to pass

9409-595: Was the company's investment in copper mines in Northern Rhodesia , later Zambia , which it eventually consolidated into the Rhokana Corporation. These and later efforts at diversification eventually allowed the company to divest from the Rio Tinto mine in Spain. By the 1950s, Franco 's nationalistic government had made it increasingly difficult to exploit Spanish resources for the profit of foreigners. Rio Tinto Company, supported by its international investments,

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