Rio Tinto - A Global Company
Rio Tinto has been operating as a world leader in mining and exploration for 130 years. The company finds, mines and processes the earth's mineral resources and metals essential for making thousands of everyday products that meet society's needs and contribute to improved living standards. Rio Tinto's activities span the world with production from every continent. The company's products include aluminum, copper, diamonds, energy products, gold, industrial minerals and iron ore.
Rio Tinto is a modern-day business, committed to serving all of its stakeholders. It is headquartered in the United Kingdom (UK), combining Rio Tinto plc, a London and NYSE listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange. In October 2007, Rio Tinto acquired Alcan to create a workforce of approximately 65,000.
Rio Tinto has been in the Salt Lake Valley since 1989 as the parent company to Kennecott Utah Copper, Kennecott Land Company, Kennecott Exploration and eight support functions totaling more than 2,400 Utah employees.
- Kennecott Utah Copper (KUC) - Mining at the Bingham Canyon Mine started in 1903 and revolutionized the copper industry, setting the precedent for large open-pit mines. As the second largest copper producer in the United States, KUC provides about 13 percent of this country's copper needs. Kennecott Bingham Canyon Mine is the largest man-made excavation in the world. It has produced more copper ore, 18.1 million tons, than any mine in the world. Every year, Kennecott produces approximately 300,000 tons of copper, along with 500,000 ounces of gold, 4 million ounces of silver, about 30 million pounds of molybdenum, and about 1 million tons of sulfuric acid, a by-product of the smelting process. Rio Tinto purchased Kennecott Utah Copper in 1989 and has invested about $2 billion in the modernization of KUC's operations. KUC has also spent more than $350 million on the cleanup of historic mining waste and $100 million on groundwater cleanup. KUC employs 1,800 people and hundreds of contractors. www.kennecott.com
- Kennecott Land Company (KLC) - KLC was established by Rio Tinto in April 2001 to develop surplus mining land. Daybreak is the first testament to that vision. Daybreak is situated on 4,126 acres in South Jordan City where 20,000 homes are planned. At KLC, sustainable development is at the heart of every business decision by balancing the complex interaction of environmental, economic and social factors. Kennecott Land does this in a way that protects and strengthens what matters most to our community: strong and safe neighborhoods, quality education, a healthy and renewable environment, and a vibrant local economy. www.kennecottland.com and www.daybreakutah.com
- Kennecott Exploration (RTX) - Rio Tinto Exploration seeks to discover or identify mineral resources. RTX is a world leader in mineral exploration by seeking to maximize the contribution to sustainable resource development by targeting large, long-life, high-quality ore bodies that deliver superior value. RTX fosters open and trusting relationships with employees, service providers, regulators and host communities while helping those communities build economic capacity through employment opportunities, training and supply agreements with local service providers. In addition, RTX minimizes the use of natural resources during the exploration process. www.riotinto.com
In all that we do, Rio Tinto follows the very best practices in safety, ethical business, social and environmental responsibility, and sustainable development. Our values are expressed through our business principles, policies and standards, as set out in our statement of business practice, The Way We Work. We recognize that while the growing world population needs minerals and metals for sustainable development, we do our best to extract and supply them in ways that bring benefits to this and succeeding generations. Sustainable development considerations are an integral part of our business plans and decision making processes.
Our efforts are recognized by a number of Sustainable Development indices such as FTSE4Good, Dow Jones Sustainability Index, Business in the Community and we have recently won awards for Carbon Disclosure Project Report for 2007. Rio Tinto was one of only four companies in the index awarded a rating of 100 on the Climate Disclosure Leadership Index. Rio Tinto has appeared on the FT500 Climate Leadership Index for the last four years. The UK's Business in the Community organization, which benchmarks responsible business practice, has awarded Rio Tinto a platinum rating for 2006 with a score of 97 percent on the overall UK and Australian/New Zealand Corporate Responsibility Indices.
We apply common values and standards wherever the Group operates, always seeking to respect the different laws, cultures, traditions, customs and employment practices in place. We recognize that excellence in managing Rio Tinto's health, safety, environment and community responsibilities is essential. We also know that good working relations, internally and externally, are fundamental to the group's continuing success. We strive to understand and interact constructively with local communities, governments and others in the public and private sectors, including non-government organizations.
Engagement through Partnerships
Rio Tinto's partnership program develops strategic alliances with selected organizations. We aim to support our partners through joint activities that add value to ourselves and the partnering organization. In our approach to engagement, we place deliberate emphasis on forming active relationships that will enhance our sustainable development work and who, in turn, will benefit from their association with us. We have found that contributing technical and business management skills and participating in the planning and implementation of each project is as important as providing funds. Therefore, we seek relationships that are integral to our business and with organizations that share significant common aims and objectives.