Latest Headlines
RESOURCE STOCKS
✕
EXPLORATION & DEVELOPMENT

Rio to grow African footprint

RIO Tinto is looking to build on its existing investments in Africa and also planning to improve ...

MiningNews.Net

This article is 13 years old. Images might not display.

Speaking at the Commonwealth Business Forum yesterday, Rio chief executive Tom Albanese said the company was confident its investment in its African operations, which include Simandou, would make healthy returns.

“I’ve had a long belief that Rio has been under-invested in Africa,” Albanese said.

“The next generation of the world’s greatest resources will be in Africa, I am convinced of that.”

Albanese said Africa’s natural resources had been under-explored.

“It actually has much more potential to deliver product and valuable material to the world markets,” he said.

The potential to deliver natural resources will become increasingly important as China continues to expand and grow and the rest of the emerging world continues to develop, Albanese says.

The discussion about whether it is best for governments to achieve returns through a taxation and royalties scheme, through part ownership, or a combination of both differ from country to country, says Albanese.

"One size doesn't fit all,” he said.

“[But] if you speak with a finance minister, someone from the treasury side of the country, they will recognise that the appropriate taxation royalty regime actually pays economic rent to the country in good times and bad.

"It's something that people can build budgets around and build the various other programs that may be needed within the government to finance the activities of the country.”

Albanese said it was important that funds companies such as Rio provided were seen to “flow through in a way that is transparent”

“As an investor, it provides assurance and it also provides commitment from the host country that they... basically have a place with safety to invest,” he said.

“I am a big fan of the Extractive Industries Transparency Initiative.”

Albanese said in the past 10 years, Rio had done a better job at a local level in addressing the highest standards of environment, employing health and safety measures, as well as community engagement.

But he said Rio needed to increase its engagement with governments in host countries on a national level to improve relationships.

“I think this is something we [Rio] as an organisation recognise this and we are learning from,” Albanese said.

RELATED ARTICLES
TOPICS:

< PREVIOUS ARTICLE

Avalon the key to Ivanhoe's quest

NEXT ARTICLE >

Sage unveils rail infrastructure aspirations

FROM OUR PARTNERS

View more
RESOURCE STOCKS

Firetail Resources: Skyline's Growth & Investor Insights

PARTNER CONTENT

Webdrill - Transforming Drilling Efficiency

MOST POPULAR
1
MINERS

Investors on red alert as Bellevue again asks for more time: The Mine Canary

2
MINERS

Evolution opens expanded Mungari for business

3
BASE METALS

Markets convulse in the wake of Trump tariff regime

4
CAPITAL MARKETS

Executive Outcomes: Orion, Perpetual, and more

RESEARCH

lock Premium subscribers only

View more

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

MiningNews.net Research Report 2025

The MNN Research Report 2025 provides insights into critical mining themes in Australia/Oceania, including top projects, C-suite priorities, risk, ESG performance and investor sentiment.

editions

Mining Journal Intelligence: Investor Sentiment Report 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.

editions

Mining Journal Intelligence World Risk Report 2024 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 117 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

Content
about
SOLUTIONS
legal

THE ASPERMONT BRAND PORTFOLIO

Copyright © 2025 Aspermont Ltd. All rights reserved. Aspermont Limited (ABN 66 000 375 048), PO Box 78, Leederville, Western Australia 6902

Login