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    RIO   AU000000RIO1

RIO TINTO GROUP

(RIO)
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Rio Tinto : Canadian union Unifor gives Rio Tinto 72-hour strike notice

07/21/2021 | 09:48pm EDT
FILE PHOTO: The Rio Tinto mine in Boron, California

TORONTO (Reuters) - Canadian union Unifor said on Wednesday miner Rio Tinto has been served with a 72-hour strike notice after nearly seven weeks of unproductive negotiations over proposed changes to workers' retirement income and benefit levels.

The union said it is seeking better retirement security for younger workers by moving newer employees from the company's Defined Contribution plan to a Defined Benefit plan.

"Rio Tinto is committed to working with the union to reach a mutually beneficial outcome to the ongoing bargaining process," a Rio spokesperson told Reuters.

Negotiations are also focused on a backlog of more than 300 grievances and the company's refusal to hire full-time workers leading to an overreliance on temporary employees, Unifor said.

Unifor says it represents about 900 workers at the company's aluminum smelting plant in Kitimat and power generating facility in Kemano.

(Reporting by Sabahatjahan Contractor in Bengaluru and Jeff Lewis in Toronto; Editing by Subhranshu Sahu)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
RIO TINTO GROUP 0.48% 99.33 End-of-day quote.-12.74%
RIO TINTO PLC -0.57% 4830.5 Delayed Quote.-11.69%
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Analyst Recommendations on RIO TINTO GROUP
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Financials (USD)
Sales 2021 65 708 M - -
Net income 2021 23 525 M - -
Net cash 2021 3 472 M - -
P/E ratio 2021 4,58x
Yield 2021 17,2%
Capitalization 109 B 109 B -
EV / Sales 2021 1,61x
EV / Sales 2022 1,97x
Nbr of Employees 47 500
Free-Float 65,3%
Chart RIO TINTO GROUP
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Rio Tinto Group Technical Analysis Chart | RIO | AU000000RIO1 | MarketScreener
Technical analysis trends RIO TINTO GROUP
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 66,03 $
Average target price 82,54 $
Spread / Average Target 25,0%
EPS Revisions
Managers and Directors
Jakob Stausholm Chief Executive Officer & Executive Director
Peter Lloyd Cunningham Chief Financial Officer & Executive Director
Simon Robert Thompson Chairman
Arnaud Soirat Chief Operating Officer
Megan Clark Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
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