Rio Tinto PLC / Ltd - The Merger of CRA & RTZ

The multinational mining giant, Rio Tinto, has grown out of the former Australian and United Kingdom mining conglomerates, CRA and RTZ, respectively. They have been actively involved in uranium mining since the dawn of the nuclear industry for over 50 years. In the 1950's, CRA managed the disastrous Rum Jungle uranium mine south of Darwin, NT (although it was owned by the Commonwealth Government), while RTZ controlled and operated the controversial Mary Kathleen uranium mine in the Mt Isa region of Queensland. Both mines shut down in the late and early 1960’s, respectively, although Mary Kathleen was re-opened in the late 1970's for a further 6 years.

Other infamous mining project disasters with human rights abuses and past as well as ongoing environmental tragedies where Rio Tinto have left their permanent mark include Weipa bauxite (northern Queensland), Bougainville copper-gold (near Solomon Islands), Freeport copper-gold (West Papua), Rössing uranium (Namibia), Kaltim Prima coal (Indonesia) - not to mention unions and communities in Europe, the USA and across Asia and South America. Few companies in the world could claim to have a demonstrably worse record than the combined forces of RTZ and CRA, now merged as Rio Tinto.

Canning Resources, a Rio Tinto subsidiary, has been trying to develop the Kintyre uranium deposits in WA, although due to the depressed world uranium market, the proposal has been apparently mothballed for the foreseeable future. However, they were caught out in early November 1999 shipping hotel and beer supplies uporotected along with refined uranium oxide powder, tailings and waste rock back to the Kintyre site - despite the clear fact that, according to the national transport code for radioactive substances, it is ILLEGAL to transport radioactive substances with food stuffs - and always has been.

Subsequent investigations revealed that the material was derived from pilot milling work conducted at the Lucas Heights nuclear research laboratories of ANSTO. The bulk samples were originally from the Kintyre mine site and the products were simply being returned. Although this was small scale by modern standards, it proves that the work at Kintyre had been further advanced than Rio Tinto were previously admitting.

In June 2000, Rio Tinto announced an aggressive takeover bid for fellow Australian multinational miner North Ltd, mainly for their iron ore projects but there can be no doubt that Rio would have been eyeing off North's 68.4% majority stake in Kakadu uranium miner Energy Resources of Australia Ltd. After a brief but bruising and intense battle with South Africa's mining giant Anglo American, Rio Tinto emerged by late August with 100% control of North Ltd, giving Rio the control over uranium mining at Jabiluka and Ranger. Despite persistent rumours Rio may quickly sell their newly acquired 68.4% interest in ERA to French multinational nuclear conglomerate Cogema, Rio are playing the Kakadu, World Heritage and Mirrar issues very quietly.

Rio Tinto have also been continuing the exploration at Westmoreland in north-western Queensland. The infamous Rössing uranium mine in Namibia, a mine that has been the subject of the highest number of UN resolutions against it in the world, is majority owned by Rio Tinto. The Energy group of Rio Tinto is actively involved in uranium exploration around the world, most notably in northern Saskatchewan, Canada and parts of Australia.

A historical profile of Rio Tinto's historical activities has been prepared by PARTiZANS (People Against RTZ and its Subsidiaries), CAFCA (Campaign Against Foreign Control of Aotearoa) and Roger Moody, along with the help of people worldwide, called :

"PLUNDER!!!" (1991)
Copies of Plunder! should be available through your local library or :
Download Text only here (zipped)

An excellent profile of Rio Tinto's involvement at the Grasberg-Freeport Gold mine in West Papua is available from Project Underground), through the Mineral Policy Institute (Sydney, NSW) -

"Risky Business : The Grasberg Gold Mine" (1998)

For union campaigns against Rio Tinto, see the Stakeholders Reports by the International Federation of Chemical, Energy Mine and General Workers' Unions (ICEM).

Directors :Executive - Robert P Wilson (Chair), R Leigh Clifford (Managing Director / CEO), Robert Adams, Christopher R H Bull (Finance Director), Oscar L Groeneveld (CEO Copper Group), Chris Renwick (CEO Iron Ore Group), Jonathan C A Leslie (Mining Director), Gordon H Sage (CEO Industrial Minerals)
Non-Executive - Richard V Giordano (Joint Deputy Chair), Lean A Davis (Joint Deputy Chair), John Morschel, Gary M Pemberton, Hon Raymond G H Seitz, Sir Richard Sykes, Lord Tugendhat, David L Mayhew
Contacts :Rio Tinto Ltd - Australia :
55 Collins St Melbourne, VIC 3001
Ph (03) 9283 3333 - Fax (03) 9283 3707
Rio Tinto PLC - United Kingdom :
6 St James's Square, London SW1Y 4LD
Ph (020) 7930 2399 - Fax (020) 7930 3249
Website :http://www.riotinto.com/
ASX Codes :Shares - RIO, Options - RIOO (Home Exchange - Melbourne, VIC & London, UK)
Annual Reports :See website or order direct.
ACN :004-458-404
Share Registry :UK - Central Registration Ltd, 1 Redcliff St, Bristol BS1 6NT
Australia - Corporate Registry Services Pty Ltd, Level 12, 565 Bourke St, Melbourne, VIC 3000
Uranium Deposits :
  • Kintyre, WA (through Canning Resources)
  • Westmoreland, QLD (through Canning Resources)
  • Rössing uranium mine in Namibia
  • Rio Tinto Ltd Top 20 Shareholders (28-Feb-2000)

    Company or Entity
    Share (%)
    1
    Tinto Holdings Australia Pty Ltd
    47.39
    2
    Chase Manhattan Nominees Ltd
    6.51
    3
    Westpac Custodian Nominees Ltd
    6.30
    4
    National Nominees Ltd
    4.47
    5
    ANZ Nominees Ltd
    2.67
    6
    Citicorp Nominees Pty Ltd
    2.27
    7
    AMP Life Ltd
    1.63
    8
    Queensland Investment Corporation
    1.55
    9
    HSBC Custody Nominees (Australia) Ltd
    0.96
    10
    BT Custodial Services Pty Ltd
    0.85
    11
    MLC Ltd
    0.79
    12
    Perpetual Trustees Nominees Ltd
    0.69
    13
    Mitsubishi Development Pty Ltd
    0.69
    14
    National Mutual Life Association of Australia Ltd
    0.63
    15
    Permanent Trustee Australia Ltd FIR 0018 a/c
    0.49
    16
    AMP Nominees Pty Ltd
    0.46
    17
    Commonwealth Life Ltd
    0.36
    18
    Commonwealth Custodial Services Ltd
    0.35
    19
    GIO Personal Investment Services Ltd
    0.33
    20
    Permanent Trustee Australia Ltd FIR 0020 a/c
    0.30
    Total - 79.69% of Ordinary Shares
    No. of Ordinary Shareholders - 38,030

    Rio Tinto Ltd / Rio Rio Tinto PLC Executive Directors :

    Rio Tinto Ltd / Rio Rio Tinto PLC Non-Executive Directors :

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    References Rio Tinto Ltd Annual Report 1997 to 1999, Mudd (1998).
    Share price graph courtesy of ComputerShare.
    Last updated January 5, 2001.

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