Exploration
Exploration is an integral part of the sustainable development equation for Rio Tinto. We have had a sustained commitment to exploration since 1946 and consider it to be one of our core competencies.
The purpose of exploration is to discover or acquire mineral resources that add value to our business. Our strategy is to find and mine only the largest, lowest cost resources that are profitable at all parts of the natural price cycle and that deliver a sustainable competitive advantage.
Each of the countries and regions we explore in has different cultures, peoples, laws and expectations. Wherever our exploration teams operate, we work hard to find ways to implement the highest international standards. Successful sustainable development outcomes help us achieve not just a licence to operate, but also a licence to grow.
- Approach
- Results
Rio Tinto Exploration operates its own exploration programmes where possible. We believe this gives us the ability to not only direct the technical aspects of the programme to our goal of discovering Tier 1 mineral deposits, but also gives us direct control of the health, safety, environment and communities aspects of the programme. We operate a rigorous “stage gate” approach to prioritising our portfolio, with evaluation stages separated by decision “gates”. As fewer than 0.1 per cent of exploration targets will deliver a discovery, we need a continuous pipeline of opportunities.
Our greenfield portfolio comprises primarily opportunities in bauxite, copper, diamonds, iron ore, nickel and energy minerals (coal and uranium). This portfolio has a global distribution with projects on five continents.
Our brownfield environment provides the easiest opportunity for creating value through exploration as we control highly prospective title around our existing operations where the likelihood is strong of finding additional resources. The portfolio comprises primarily opportunities in bauxite, copper, iron ore and energy minerals (coal and uranium).
Our exploration teams are often the first contact that we have with our future neighbours. Respecting the diversity of local communities, our teams engage in a manner that is direct and personal, and tailored to the specific needs of each region, village, or individual stakeholder. The orebodies that they discover can become the catalyst for local economic diversification, skills development in the local workforce and, very often, improvements to infrastructure.
On a day to day basis our Exploration group contributes to improvements in local health and safety practices, community involvement and consultation, and employment of local people.
Closure as a component of mine life planning
- Closing a mine does not simply mean shutting down production, rehabilitating the land and walking away. People’s livelihoods can be affected, as can the social and environmental programmes established during the life of the mine.
- See all "Our approach" features
Media releases
- 01 March 2010
Rio Tinto to acquire 15 million shares in Ivanhoe Mines - 01 March 2010
Rio Tinto divestments reach US$10 billion with completion of Alcan Packaging Food Americas sale - 23 February 2010
Rio Tinto expands Mine of the Future™ programme and selects partners for rapid construction of deep underground mines - See all Media releases
