Finding better ways to provide the materials the world needs
Purpose & Values
The drive for innovation and continuous improvement is at the heart of our purpose
Business Strategy
Climate change is at the heart of our business strategy
Innovation
Finding better ways to do things is in our DNA
We supply the metals and minerals used to help the world grow and decarbonise
Iron Ore
Iron ore is the primary raw material used to make steel
7 things the world will need for a low-carbon future
Wind, sun and water – what else do you need to make renewable energy work?
Sustainability – the expectation, not the exception
Shaping our aluminium product offering to meet demand for greener metals
Bringing to market materials critical to urbanisation and the transition to a low-carbon economy
Look inside a mine of the future
Our most intelligent mine yet is pioneering new mining technologies
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
Sustainability Reporting 2023
As temporary custodians of the land where we operate, we are entrusted with accessing the world’s essential materials and making them available for society’s use
Climate Change
We’re targeting net zero emissions by 2050
Tailings
We’ve launched a new interactive map of our tailings facilities
We aim to deliver superior returns to our shareholders while safeguarding the environment and meeting our obligations to wider society
Reports 2023
Download our 2023 Annual Report, Climate Change Report, Sustainability Fact Book and Taxes Paid Report
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
A new way to decarbonise steel
Tackling a global challenge
Tackling it all
A short documentary series with the Queensland Reds is inspiring working women everywhere
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
LONDON--(BUSINESS WIRE)-- Rio Tinto has completed the sale of a royalty it holds on an area including the Cortez mine operational area and the Fourmile development project in Nevada (the “Cortez Complex”) to RG Royalties LLC, a direct wholly-owned subsidiary of Royal Gold Inc., for $525 million in cash.
The Cortez Royalty is a 1.2%1 gross production royalty on (i) the Cortez gold mine that is operated by Nevada Gold Mines, a joint venture between Barrick Gold Corporation (“Barrick”) and Newmont Corporation; and (ii) the Fourmile project which is 100% owned and operated by Barrick. Rio Tinto obtained the royalty as partial consideration for the sale of its 40% interest in the Cortez Complex to Barrick in 2008. Royalty payments commence once the Cortez Complex has produced a total of 15 million ounces of gold since 2008. This is expected to occur imminently.
Rio Tinto Chief Financial Officer Peter Cunningham said: “This transaction unlocks hidden value from our portfolio and releases cash immediately.”
This announcement is authorised for release to the market by Steve Allen, Rio Tinto’s Group Company Secretary.
riotinto.com
____________________________ 1 Royalty calculated as 1.2% at current gold prices. The royalty rate is determined based on a scale from 0% at gold prices less than US$400/oz up to 3% at gold prices greater than $900/oz, calculated on 40% of the production from the undivided Cortez Complex land package.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220801005904/en/
Please direct all enquiries to media.enquiries@riotinto.com
Media Relations, UK
I lltud Harri M +44 7920 503 600
Matthew Klar M+ 44 7796 630 637
David Outhwaite M +44 7787 597 493
Media Relations, Americas
S imon Letendre M +514 796 4973
Malika Cherry M +1 418 592 7293
Investor Relations, UK
M enno Sanderse M: +44 7825 195 178
David Ovington M +44 7920 010 978
Clare Peever M +44 7788 967 877
Rio Tinto plc 6 St James’s Square London SW1Y 4AD United Kingdom
T +44 20 7781 2000 Registered in England No. 719885
Media Relations, Australia
J onathan Rose M +61 447 028 913
Matt Chambers M +61 433 525 739
Jesse Riseborough M +61 436 653 412
Investor Relations, Australia
A mar Jambaa M +61 472 865 948
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
How we process personal data provided or obtained through this website.
With the exception of the use of cookies, Rio Tinto generally does not seek to collect personal data through this website. However if you choose to provide personal data to Rio Tinto through this website (for example, by sending us an email), we will process that personal data to answer your query and if relevant, to manage our business relationship with you or your company. We won't process that personal data for other purposes except where required to meet our legal obligations or otherwise as authorised by law and notified to you.
If you choose to subscribe to our media releases or other communications, you can unsubscribe at any time (by following the instructions in the email or by contacting us).
With your consent, our website uses cookies to distinguish you from other users of our website. This helps us to provide you with a good experience when you browse our website and also allows us to improve our site. A cookie is a small file of letters and numbers that we store on your browser or the hard drive of your computer if you agree. Cookies contain information that is transferred to your computer's hard drive.
As some data privacy laws regulate IP addresses and other information collected through the use of cookies as personal data, Rio Tinto’s processing of such personal data needs to comply with its Data Privacy Standard (see Part 1 of our Privacy Policy), and also applicable data privacy laws.
With the exception of the use of cookies (explained below), Rio Tinto generally does not seek to collect personal data through this website. However if you choose to provide personal data to Rio Tinto through this website (for example, by sending us an email), we will process that personal data to answer your query and if relevant, to manage our business relationship with you or your company. We won't process that personal data for other purposes except where required to meet our legal obligations or otherwise as authorised by law and notified to you.
Part 1 of this Privacy Policy contains the Rio Tinto Data Privacy Standard, which provides an overview of Rio Tinto’s approach to personal data processing. There is additional information in the appendices to the Data Privacy Standard, including information about disclosures, trans-border data transfers, the exercise of data subject rights and how to make complaints or obtain further information relating to Rio Tinto’s processing of your personal data.
If you choose to subscribe to our media releases or other communications, you can unsubscribe at any time (by following the instructions in the email or by contacting us at digital.comms@riotinto.com).
With your consent, our website uses cookies to distinguish you from other users of our website. This helps us to provide you with a good experience when you browse our website and also allows us to improve our site.
A cookie is a small file of letters and numbers that we store on your browser or the hard drive of your computer if you agree. Cookies contain information that is transferred to your computer's hard drive.
As some data privacy laws regulate IP addresses and other information collected through the use of cookies as personal data, Rio Tinto’s processing of such personal data needs to comply with its Data Privacy Standard (see Part 1 of this Privacy Policy), and also applicable data privacy laws.
These Cookies are used to provide a better user experience on the site, such as by measuring interactions with particular content or remembering your settings such as language or video playback preferences.
These Cookies allow us to analyse site usage in order to evaluate and improve its performance. They help us know how often you come to our site and when, how long you stay and any performance issues you experience whilst you are on our site.
These Cookies are used by advertising companies to inform and serve personalised ads to your devices based on your interests. These Cookies also facilitate sharing information with social networks or recording your interactions with particular ads.