Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. Australia
  4. Australian Stock Exchange
  5. Rio Tinto Group
  6. News
  7. Summary
    RIO   AU000000RIO1

RIO TINTO GROUP

(RIO)
  Report
Delayed Australian Stock Exchange  -  02:10 2022-09-30 am EDT
93.39 AUD   +2.73%
11:40aRio Tinto - Response to Energy Resources of Australia's independent valuation report
AQ
06:30aTurquoise Hill Gets Interim Court Order Allowing Shareholder Meeting to Consider Acquisition by Rio Tinto
MT
03:00aAustralian shares mark worst month since June on recession woes
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Rio Tinto attracts several proposls to build 4 GW of wind, solar power

08/04/2022 | 11:36pm EDT
FILE PHOTO: A sign adorns the building where mining company Rio Tinto has their office in Perth, Western Australia

MELBOURNE (Reuters) - Global miner Rio Tinto has received several offers to build 4 gigawatts (GW) of wind and solar farms to power its alumina and aluminium operations in Australia's Queensland state, the company's Australia head said on Friday.

Rio Tinto Chief Executive Officer Australia Kellie Parker said the company, the country's biggest single power user, had received proposals for "a lot more than the 4 GW" that it asked for in its call for proposals key to slashing its carbon emissions.

Rio Tinto said in June its Boyne aluminium smelter, Yarwun alumina refinery and Queensland Alumina refinery need a combined 1,140 megawatts (MW) of reliable power, and was seeking offers to build at least 4,000 MW, or 4 GW, of wind and solar power backed up by energy storage which would be required to supply steady power.

Parker, however, gave no cost estimate for the projects on Friday.

"All of us understand that Australia remains an expensive location to build, so it won't be easy," she said in a speech to the Melbourne Mining Club.

Several issues need to be sorted out before the the massive build of renewables - equal to more than a third of the total wind and solar capacity Australia already has - could go ahead.

"A coordinated grid solution in Queensland will be critical and requires the collaboration of suppliers, users, regulators, transmission providers and policymakers. Technology will also play an important role," Parker said.

The company had yet to decide what role it would play in the generation or supply of renewable energy as the proposals it had received involved it being owner, operator, partner, investor and customer for the projects, she said.

(Reporting by Sonali Paul; Editing by Rashmi Aich)

By Sonali Paul


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
POWER SOLUTIONS, LTD. -0.40% 2520 Delayed Quote.7.88%
RIO TINTO GROUP 2.73% 93.39 Delayed Quote.-9.19%
RIO TINTO PLC 0.04% 4896 Delayed Quote.0.08%
S&P GSCI ALUMINUM INDEX -1.55% 136.9054 Real-time Quote.-22.02%
All news about RIO TINTO GROUP
11:40aRio Tinto - Response to Energy Resources of Australia's independent valuation report
AQ
06:30aTurquoise Hill Gets Interim Court Order Allowing Shareholder Meeting to Consider Acquis..
MT
03:00aAustralian shares mark worst month since June on recession woes
RE
12:15aRio Tinto Starts Spodumene Concentrate Production At Demonstration Plant In Canada
MT
09/29Australian shares set for worst month in three on recession risks
RE
09/29Turquoise Hill Brief: Announcing Receipt of Interim Order for Propo..
MT
09/29Rio Tinto starts producing spodumene at Quebec plant
RE
09/29Rio Tinto Starts Production of Spodumene Concentrate at Demonstration Plant in Canada
MT
09/29Rio Tinto starts demonstration plant for lithium concentration in Quebec
BU
09/29Rio Tinto Group Starts Demonstration Plant for Lithium Concentration in Quebec
CI
More news
Analyst Recommendations on RIO TINTO GROUP
More recommendations
Financials (USD)
Sales 2022 55 734 M - -
Net income 2022 15 350 M - -
Net Debt 2022 111 M - -
P/E ratio 2022 5,60x
Yield 2022 10,8%
Capitalization 90 431 M 90 431 M -
EV / Sales 2022 1,62x
EV / Sales 2023 1,78x
Nbr of Employees 49 000
Free-Float 65,4%
Chart RIO TINTO GROUP
Duration : Period :
Rio Tinto Group Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends RIO TINTO GROUP
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 23
Last Close Price 54,56 $
Average target price 63,92 $
Spread / Average Target 17,2%
EPS Revisions
Managers and Directors
Jakob Stausholm Chief Executive Officer & Executive Director
Peter Lloyd Cunningham Chief Financial Officer & Executive Director
Dominic S. Barton Chairman
Mark Davies Chief Technical Officer
Arnaud Soirat Chief Operating Officer
Sector and Competitors
1st jan.Capi. (M$)
RIO TINTO GROUP-9.19%89 210
BHP GROUP LIMITED16.32%125 258
RIO TINTO PLC0.08%89 210
GLENCORE PLC27.52%69 100
SAUDI ARABIAN MINING COMPANY (MA'ADEN)77.32%45 576
ANGLO AMERICAN PLC-9.30%36 942