Finding better ways to provide the materials the world needs
Our business
We operate in 35 countries where our 60,000 employees are working to find better ways to provide the materials the world needs
Our purpose in action
Continuous improvement and innovation are part of our DNA
Innovation
The need for innovation is greater than ever
We supply the metals and minerals used to help the world grow and decarbonise
Iron Ore
The primary raw material used to make steel, which is strong, long-lasting and cost-efficient
Lithium
The lightest of all metals, it is a key element needed for low-carbon technologies
Copper
Tough but malleable, corrosion-resistant and recyclable, and an excellent conductor of heat and transmitter of electricity
Bringing to market materials critical to urbanisation and the transition to a low-carbon economy
Oyu Tolgoi
One of the most modern, safe and sustainable operations in the world
Rincon Project
A long-life, low-cost and low-carbon lithium source
Simandou Project
The world’s largest untapped high-grade iron ore deposit
Providing materials the world needs in a responsible way
Climate Change
We’re targeting net zero emissions by 2050
Nature solutions
Our nature-based solutions projects complement the work we're doing to reduce our Scope 1 and 2 emissions
Enabling ESG transparency
Our START™ initiative tracks traceability and responsible production of Rio Tinto materials.
We aim to deliver superior returns to our shareholders while safeguarding the environment and meeting our obligations to wider society
Reports 2024
Download our 2024 suite of reports, including our 2024 Taxes and Royalties Paid Report, detailing $8.4 billion of taxes and royalties paid globally during the year
Get the latest news, stories and updates
Things You Can't Live Without
Our podcast discussing what needs to happen to create a sustainable future for the everyday items we have come to rely on
Refuelling the mining industry
How can we power the world’s biggest machines with new fuel solutions?
Forging a low-carbon future
How we're working to decarbonise iron ore and steel
Discover more about life at Rio Tinto
Graduates and students
If you want to drive real change, we have just the place to do it
Empowering families with flexibility
Supporting new parents of any gender with equal access to parental leave
Available jobs
Join our team
MELBOURNE, Australia--(BUSINESS WIRE)-- Rio Tinto will immediately begin transitioning small Australian suppliers to shorter payment terms that will see them paid within 20 days of receipt of a valid invoice. This move, which will apply to suppliers with annual turnover up to A$10 million, reflects Rio Tinto’s recognition of the importance of ensuring smaller suppliers, whom are often local to its Australian operations, are paid in a timely manner.
Rio Tinto chief commercial officer Simon Trott said, “Small businesses are often the lifeblood of the communities in which we operate and being paid quickly is important for their cash flows. That is why we are shortening our payment terms to less than three weeks in order to further strengthen our partnership with smaller Australian suppliers, that are a vital part of Rio’s supply chain.
“As a result of the new policy, around 90 per cent of Rio Tinto’s Australian business suppliers will be paid within 20 days.”
The new policy expands Rio Tinto’s definition of small suppliers from being those who supply up to A$1 million of goods and services to also include businesses with annual turnover of up to A$10 million. The new payment terms, and ongoing work to simplify and systemise our procurement processes, reflect a commitment to improve our partnership with suppliers.
Notes to editors
Rio Tinto has a strong local procurement strategy designed to increase opportunities for Australian businesses to be a part of the Rio Tinto supply chain. Procurement practices, and those of Rio Tinto contractors, help sustain many Australian businesses and, in turn, local communities.
In 2018, Rio Tinto supplier spend in Australia was around A$14 billion.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200204006106/en/
Contacts media.enquiries@riotinto.com riotinto.com Follow @RioTinto on Twitter
Media Relations, United Kingdom Illtud Harri M +44 7920 503 600 David Outhwaite T +44 20 7781 1623 M +44 7787 597 493 Media Relations, Americas Matthew Klar T +1 514 608 4429 Media Relations, Asia Grant Donald T +65 6679 9290 M +65 9722 6028
Media Relations, Australia Jonathan Rose T +61 3 9283 3088 M +61 447 028 913 Matt Chambers T +61 3 9283 3087 M +61 433 525 739 Jesse Riseborough T +61 8 6211 6013 M +61 436 653 412 Investor Relations, United Kingdom Menno Sanderse T: +44 20 7781 1517 M: +44 7825 195 178 David Ovington T +44 20 7781 2051 M +44 7920 010 978 Investor Relations, Australia Natalie Worley T +61 3 9283 3063 M +61 409 210 462 Amar Jambaa T +61 3 9283 3627 M +61 472 865 948
Rio Tinto plc 6 St James’s Square London SW1Y 4AD United Kingdom T +44 20 7781 2000 Registered in England No. 719885 Rio Tinto Limited Level 7, 360 Collins Street Melbourne 3000 Australia T +61 3 9283 3333 Registered in Australia ABN 96 004 458 404
Category: General
Source: Rio Tinto