Tag Archives: Tinto

Rio Tinto apologises for loss of tiny radioactive capsule in Australian outback

MELBOURNE, Jan 30 (Reuters) – Rio Tinto Ltd (RIO.AX) apologised on Monday for the loss of a tiny radioactive capsule that has sparked a radiation alert across parts of the vast state of Western Australia.

The radioactive capsule, believed to have fallen from a truck, was part of a gauge used to measure the density of iron ore feed which had been entrusted to a specialist contractor to transport. The loss may have occurred up to two weeks ago.

Authorities are now grappling with the daunting task of searching along the truck’s 1,400 kilometre (870 mile) journey from north of Newman – a small town in the remote Kimberley region – to a storage facility in the northeast suburbs of Perth – a distance longer than the length of Great Britain.

The task, while akin to finding the proverbial needle in a haystack, is “not impossible” as searchers are equipped with radiation detectors, said Andrew Stuchbery who runs the department of Nuclear Physics & Accelerator Applications at the Australian National University.

“That’s like if you dangled a magnet over a haystack, it’s going to give you more of a chance,” he said.

“If the source just happened to be lying in the middle of the road you might get lucky…It’s quite radioactive so if you get close to it, it will stick out,” he said.

The gauge was picked up from Rio’s Gudai-Darri mine site on Jan. 12. When it was unpacked for inspection on Jan. 25, the gauge was found broken apart, with one of four mounting bolts missing and screws from the gauge also gone.

Authorities suspect vibrations from the truck caused the screws and the bolt to come loose, and the radioactive capsule from the gauge fell out of the package and then out of a gap in the truck.

“We are taking this incident very seriously. We recognise this is clearly very concerning and are sorry for the alarm it has caused in the Western Australian community,” Simon Trott, Rio’s iron ore division chief, said in a statement.

The silver capsule, 6 millimetres (mm) in diameter and 8 mm long, contains Caesium-137 which emits radiation equal to 10 X-rays per hour.

Authorities have recommended people stay at least five metres (16.5 feet) away as exposure could cause radiation burns or radiation sickness, though they add that the risk to the general community is relatively low.

“From what I have read, if you drive past it, the risk is equivalent to an X-ray. But if you stand next to it or you handle it, it could be very dangerous,” said Stuchbery.

The state’s emergency services department has established a hazard management team and has brought in specialised equipment that includes portable radiation survey meters to detect radiation levels across a 20-metre radius and which can be used from moving vehicles.

Trott said Rio had engaged a third-party contractor, with appropriate expertise and certification, to safely package and transport the gauge.

“We have completed radiological surveys of all areas on site where the device had been, and surveyed roads within the mine site as well as the access road leading away from the Gudai-Darri mine site,” he said, adding that Rio was also conducting its own investigation into how the loss occurred.

Analysts said that the transport of dangerous goods to and from mine sites was routine, adding that such incidents have been extremely rare and did not reflect poor safety standards on Rio’s part.

The incident is another headache for the mining giant following its 2020 destruction of two ancient and sacred rock shelters in the Pilbara region of Western Australia for an iron ore mine.

Reporting by Melanie Burton; Editing by Edwina Gibbs

Our Standards: The Thomson Reuters Trust Principles.

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Rio Tinto is a buy

Desktop Metal: “No, we don’t need to do that. We have HP Inc. on earlier this week, and they are going to own the 3D industry and make money, so you need to be in HP Inc. Symbol HPQ.”

Canada Goose: “It still sells at too high a multiple, and I want to point out that it’s inconsistent earnings is not for [us]. We’re going to go elsewhere.”

Darling Ingredients: “I like it. … It reminds me of Renewable Energy, the company that just got a bid from Chevron. I think you stick with it. I like that call.”

Tilray: “No, no. We like that [Innovative Industrial Properties] way to be able to play it, the picks and shovels way. The pot industry is a very, very tough industry, not unlike gambling. So, I’m not there.”

Floor & Decor: “This to me, frankly, I’m just going to call it a poor man’s Lowe’s. I’d rather see you in Lowe’s. … Lowe’s had a great quarter.”

Valvoline: “Automotive lubricants work for me.”

Rio Tinto: “I like Rio Tinto. [Buy, buy, buy]. It’s minerals. Remember, there’s a bull market in minerals, and I embrace it.”

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Rio Tinto says bullying, sexism and racism are rife at the company

On Tuesday, the mining giant published the findings of an external review it commissioned last year after months of scrutiny about how workers were being treated.

According to the report, which was overseen by Australia’s former sex discrimination commissioner Elizabeth Broderick, “bullying and sexism are systemic across Rio Tinto worksites, with almost half of the people experiencing bullying.”

The workplace review focused on workers’ experiences over the last five years. Twenty-one women reported actual or attempted rape or sexual assault, while almost a third of all women said they had experienced sexual harassment at work, the audit found.

Meanwhile, racism was found to be “common across a number of areas,” with a survey “indicating [that] people working in a country different to their birth experienced high rates of racism, and that 39.8% of men and 31.8% of women who identify as Aboriginal or Torres Strait Islander in Australia experienced racism.”

Rio Tinto employs people in 35 countries. The company said its workplace review involved more than 10,000 respondents to an online survey, interactive group and individual sessions, and a call for written entries.

“I feel shame and enormous regret to have learned the extent to which bullying, sexual harassment and racism are happening at Rio Tinto,” CEO Jakob Stausholm said in a statement.

“The findings of this report are deeply disturbing to me and should be to everyone who reads them. I offer my heartfelt apology to every team member, past or present, who has suffered as a result of these behaviors. This is not the kind of company we want to be.”

Broderick, who is also a UN special rapporteur on discrimination against women, commended the company for “proactively commissioning this study.”

“There is clear recognition, however, that new approaches are needed to solve these issues,” she added.

The company has now pledged to follow dozens of new recommendations to improve its culture.

Among them are vows “to ensure that women and other minority groups are deployed to operational sites as part of a cohort” or with additional support; to set up a new unit to allow people experiencing harmful behavior to report it early; and to increase diversity throughout the company.

Men make up 79% of Rio Tinto’s workforce, though the company has taken steps to recruit more female workers lately.

Mining companies have faced questions about workplace safety in recent months, particularly in Western Australia, where a parliamentary inquiry was launched into sexual harassment against women in the field last year.
In response to that inquiry, BHP (BBL), another major industry player, disclosed that it had terminated as many as 48 people over sexual harassment reports in the region from 2019 to 2021.

In a statement to CNN Business on Tuesday, Rio Tinto also said that 142 workers globally had faced disciplinary action over the past year, while 38 people had been fired “as a result of the types of disrespectful behaviors” covered by its new report.

Both Rio Tinto and BHP have partnered to create new programs to tackle their respective workplace problems, including racism and bullying.
Rio Tinto has been trying to repair its image in the aftermath of its demolition of the Juukan Gorge caves in Western Australia in 2020. The company destroyed the 46,000-year-old Indigenous site in 2020 to expand an iron ore mine, stoking outrage. The backlash eventually forced out its former CEO.

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Report on Rio Tinto finds ‘disturbing’ culture of sexual harassment, racism, bullying

  • Rio releases external review of its workplace culture
  • Report finds widespread bullying, sexual harassment, racism
  • Rio CEO says findings “extremely disturbing”
  • Company says accepts all 26 recommendations

Feb 1 (Reuters) – A report released by Rio Tinto (RIO.AX), (RIO.L) on Tuesday outlined a culture of bullying, harassment and racism at the global mining giant, including 21 complaints of actual or attempted rape or sexual assault over the past five years.

Nearly half of all employees who responded to an external review of the miner’s workplace culture commissioned by Rio said they had been bullied, while racism was found to be common across a number of areas.

Rio Tinto Chief Executive Jakob Stausholm said the results were “disturbing” and the company would implement all 26 recommendations from the report by former Australian sex discrimination commissioner Elizabeth Broderick.

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“The eye opener for me was two-fold,” Stausholm told Reuters. “I hadn’t realised how much bullying exists in the company and secondly that it’s quite systemic – the three issues of bullying, sexual harassment and racism … that’s extremely disturbing.”

Rio Tinto launched the review in March last year, not long after Stausholm took over the top job in the wake of a widespread backlash against the company after it blasted the 46,000-year-old Juukan Gorge rock shelters to expand an iron ore mine.

More than 10,000 employees, nearly a quarter of its 45,000-strong workplace shared their experiences and views for the study.

The report found nearly 30% women and about 7% of men have experienced sexual harassment at work, with 21 women reporting actual or attempted rape or sexual assault.

Racism was a “significant challenge” for employees at many locations. People working in a country different to their birth experienced high rates of racism while nearly 40% of men who identify as Aboriginal or Torres Strait Islander in Australia had experienced racism.

“I have copped racism in every single corner of this company,” one employee was anonymously quoted as saying.

Rio said reforms will focus on a commitment from the company’s leadership to create a safe and inclusive working environment, including by increasing diversity within the company. It would also ensure the company’s remote mine site facilities are safe, and make it easier for staff to call out unacceptable behaviours.

“Clearly much more needs to be done to ensure the safety of workers in the resources sector,” said Owen Whittle, Secretary for UnionsWA, which represents over 30 workers groups which have over 150,000 members in Western Australia.

“With nearly half of the workforce reporting bullying, it is clear that they have failed workers over a long period of time and need to do far more to prevent harassment and bullying in workplaces,” he said.

SEXISM, RACISM

The Rio report comes ahead of the release of another report by the West Australia state government later this year on sexual harassment at mining camps in the state, which provides more than half of the world’s supply of iron ore.

Submissions to the inquiry last year said sexual harassment was rife at mining camps in Western Australia, which is home to mines of global firms including BHP Group (BHP.AX), Rio Tinto and Fortescue (FMG.AX).

A Western Australia state minister, Rita Saffioti, told Australia’s ABC News that she was very disturbed by the number of allegations.

“You want everyone to be able to feel safe in their workplace. Also in particular in those areas where you’re a bit more isolated from friends and family and you want to have the utmost protection from having that type of behaviour,” she said.

In a 2020 report, an Australian Human Rights Commission inquiry into sexual harassment found that 74% of women in the mining industry had experienced some form of sexual harassment in the past five years, partly due to a gender imbalance.

Nearly 80% of Rio Tinto’s workforce is male.

“Creating a safe, respectful work culture will encourage people of all backgrounds and diversity to thrive in our organisations,” Kellie Parker, the Australian CEO for Rio Tinto told Reuters.

Male and female employees in South Africa experienced the highest rates of racism. Employees spoke of the frequency of racism and its impacts on their confidence, self-esteem and work performance.

“Rio is a Caucasian oriented company,” one employee said in the report.

Rio said the report came at a pivotal time as workplace cultures shift against the backdrop of #MeToo, Black Lives Matter and other global movements, as well as an Australian inquiry into Rio’s destruction of Juukan Gorge, culturally significant rock shelters.

Stausholm said Juukan Gorge had triggered the biggest management change in the history of Rio and the new team wanted to drive more change.

“Its a matter of using the momentum of the moment now and try to move these actions forward fast because we cannot change these from one day to another.”

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Reporting by Praveen Menon; editing by Richard Pullin

Our Standards: The Thomson Reuters Trust Principles.

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Rio Tinto shares slump as Serbia pulls plug on its $2.4 bln lithium project

  • Serbia revokes Rio’s lithium exploration licences
  • Share prices drop as cancellation seen as major setback
  • Cancellation will mean greater shortage of lithium – analyst

MELBOURNE, Jan 21 (Reuters) – Shares in Rio Tinto tumbled on Friday after Serbia revoked its lithium exploration licences over environmental concerns, hurting the Anglo-Australian miner’s ambition to become Europe’s largest supplier of the metal used in electric vehicles.

The decision by Serbia comes as it approaches a general election in April, and as relations between Belgrade and Canberra have soured after Sunday’s deportation of tennis star Novak Djokovic from Australia over its COVID-19 entry rules.

It is also a major setback for Rio (RIO.L), (RIO.AX), which was hoping the project would help make it one of the world’s 10 biggest producers of lithium, a key ingredient in batteries.

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The mine is Rio’s only lithium project and the company announced just a month ago a deal to buy a second lithium asset for $825 million, as it looks to build its battery materials business.

Rio’s shares in Australia closed down 4.1% after falling as much as 5.1% in the Australian stock market, its worst intra-day drop since August 2021. The benchmark index ended down 2.3%.

In London, Rio’s shares were down more than 3% by 0855 GMT, slightly underperforming their peers.

Serbian Prime Minister Ana Brnabic told a news conference in Belgrade that the decision came after requests by various green groups to halt the $2.4 billion Jadar lithium project that had planned to start production in 2027.

Thousands of people blocked roads last year in a protest against the government’s backing of the project, demanding Rio Tinto leave the country and forcing the local municipality to scrap a plan to allocate land for the facility.

The decision came days after ties between Australia and Serbia hit rock bottom as tennis star Djokovic was deported before he could play in the Australian Open.

Djokovic spoke out in support of “clean air” in a December Instagram story post captioning a picture of the anti-mining protests, which was published by digital sports platform The Bridge.

Twitter users were quick to joke about Rio being deported from Serbia.

Rio said it was “extremely concerned” by Serbia’s decision and was reviewing the legal basis for it.

The Australian government said it regrets Serbia’s decision to revoke Rio’s licences.

“We note the strong economic benefits of the significant investment by Rio Tinto in Serbia. Australian resources companies have an outstanding reputation around the world, particularly when it comes to their expertise,” the government said in a statement to Reuters.

Rio has already spent US$450 million in pre-feasibility, feasibility and other studies on Jadar to understand the nature of the deposit, the company said in a project fact sheet in July.

“The level of opposition to it has really ratcheted up over the last six months,” Credit Suisse analyst Saul Kavonic said of the Jadar mine.

“We’ve been highlighting for a while now there would be about $2 a share at risk if the government cancels it,” Kavonic said.

This week, Rio pushed back the timeline for first production from Jadar by one year to 2027, citing delays in approvals. read more

‘EVEN GREATER SHORTAGE’

At full capacity, the Jadar mine was expected to produce 58,000 tonnes of refined battery-grade lithium carbonate a year, making it Europe’s biggest lithium mine by output.

Experts said the world’s shortage of lithium had been forecast to last for another three years at least, but with the cancellation of the Jadar project, the shortfall would now last for several years. read more

“We’re at the point now where lithium supply is going to set the pace of electric vehicle rollout,” Kavonic said.

Robust global demand for the metal far outstripping supply growth has pushed lithium prices to a record in recent years.

Lithium futures , which started trading on the CME in May last year, have jumped 171% to a record $38/kg on Thursday, according to Refinitiv data.

In China, cash prices of lithium hydroxide monohydrate are trading around a record 262,500 yuan ($41,387.47) per tonne, up by more than 400% from a year ago.

Its state planner said on Friday that restrictions on purchases of new energy vehicles including EVs will be gradually removed in a “vigorous” push to promote “green consumption”, a plan likely to further increase demand for lithium. read more

($1 = 6.3425 Chinese yuan)

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Benchmark lithium hydroxide prices surge to record highs on global demand boom

Reporting by Sonali Paul in Melbourne; additional reporting by Florence Tan in Singapore; writing by Praveen Menon; editing by Kenneth Maxwell and Raju Gopalakrishnan

Our Standards: The Thomson Reuters Trust Principles.

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