Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. Rio Tinto plc
  6. News
  7. Summary
    RIO   GB0007188757

RIO TINTO PLC

(RIO)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Rio Tinto : BC Works (Kitimat) smelter reduces production following strike

07/26/2021 | 03:33pm EDT

Rio Tinto has begun reducing production at its BC Works aluminium smelter in Kitimat, Canada due to a strike initiated by the Unifor Local 2301 union after negotiations failed to reach a new collective labour agreement.

Production will be reduced to around 35 per cent of the smelter’s 432,000 tonne annual capacity, so that it can safely be operated by staff and employees required under an essential services order granted by the BC Labour Relations Board.

Rio Tinto Aluminium managing director Atlantic Operations Samir Cairae said: “Reducing production will have a significant impact on the business and community, but we are committed to taking the necessary steps to operate safely with a reduced workforce.

“We have made every effort to reach a mutually beneficial agreement through negotiating in good faith over the past seven weeks, including proposing an independent mediator which was rejected by Unifor Local 2301.

“We will continue to look for longer term solutions with the union and work closely with customers and suppliers to minimise disruptions.”

A reduced workforce is also in place to ensure the Kemano hydro-power facility continues to run safely.

Rio Tinto employs approximately 1,050 people at the BC Works smelter and Kemano powerhouse, including around 900 employees represented by Unifor Local 2301. The company contributed C$780 million to the economy of British Columbia in 2020.


ę Business Wire 2021
All news about RIO TINTO PLC
05:06pCATERPILLAR : Zero-Emission Equipment Plans Hazy on Spending, Pricing, BofA Says
MT
03:09aAustralia shares end lower as miners drag on China power concerns
RE
09/27Australia shares track Wall Street lower; gold loses shine
RE
09/27TALON METALS : Up 3.3% after Reporting 51% Ownership of Tamarack Nickel Project
MT
09/27Power costs could force metal producers from Europe - Eurometaux
RE
09/27RIO TINTO : Bluejay Mining JV Partner Extends Drilling Program in Finland
MT
09/27RIO TINTO : Reaches Labor Agreement with Canadian Union
MT
09/26Australian shares hit over 1-week high as energy, bank stocks shine
RE
09/26RIO TINTO : and Canadian union reach labour deal for British Columbia ops
RE
09/26RIO TINTO : Agreement in principle reached by Rio Tinto and Unifor Local 2301
PU
More news
Analyst Recommendations on RIO TINTO PLC
More recommendations
Financials (USD)
Sales 2021 65 057 M - -
Net income 2021 23 525 M - -
Net cash 2021 3 474 M - -
P/E ratio 2021 4,49x
Yield 2021 17,2%
Capitalization 107 B 107 B -
EV / Sales 2021 1,59x
EV / Sales 2022 1,94x
Nbr of Employees 47 500
Free-Float 65,3%
Chart RIO TINTO PLC
Duration : Period :
Rio Tinto plc Technical Analysis Chart | RIO | GB0007188757 | MarketScreener
Technical analysis trends RIO TINTO PLC
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 64,66 $
Average target price 82,23 $
Spread / Average Target 27,2%
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$)
RIO TINTO PLC-12.70%109 259
BHP GROUP-13.10%135 416
ANGLO AMERICAN PLC3.77%43 717
GRUPO MÉXICO, S.A.B. DE C.V.-4.81%31 847
SAUDI ARABIAN MINING COMPANY (MA'ADEN)97.28%26 245
TECK RESOURCES LIMITED35.67%13 408