Rio Tinto urges shareholders to reject proposal to drop London listing

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Rio Tinto has called on shareholders to leave his initial list in London and reject its share of shares in Australia, arguing that the move was not the “best interest” of the mining group.

Rio, which has reported on the lower underlying earnings for 2024 on Wednesday, Paliza under pressure from capital And others can follow the example of BHP and dig its dual-list structures in Australia and the UK.

Palizer has argued that a single Australian-Dumicield Holding Agency, including the initial list of the Sydney Stock Exchange, will unlock $ 50 billion as shareholder value.

However, Rio rejected the move as very expensive and the issue canvas the top shareholders in Australia and the UK on the issue.

“The Board considering that the resolution is not best for Rio Tinto as a whole and recommends that the shareholders of Rio Tinto PLC voted against the proposal,” the company reported April and May before its annual general meetings in London and Perth Perth in Perth.

This step follows the decision of the rival mining group Glencoor this week Review the UK list of UKPlaying the way to switch to New York or any other market that can “better suit” its business.

The group said the income of Rio Tinto was reduced due to the price and inflation pressure of weak iron ore last year. The top iron ore and aluminum producers say the underlying earnings have dropped to $ 1.5 billion in 2021. However, net earnings, which accept obstacles in account and resources, have increased by 5 percent over the previous year, $ 1.6 billion.

The average price of the iron ore sold by Rio in 2024 was 11 percent lower than the previous year, saying it contributed to the reduction of income from steel -making material.

Mining groups are reporting their results this week as Glencoo and BHPIron ore and coal have been damaged by the low prices as well as the inflation pressure that is pressing the operating expenses.

But Rio The Chinese property points to the “signs of stability” in the market, which is the main driver of the product demand, which has jumped with low iron ore earnings due to the overall demand from Asian countries.

RBC analyst Ben Davis says Rio’s annual results were “delightedly straight”, noted that the dollar of .5.5 billion dollars for 2021 was still consistent with expectations, even the underlying earnings have dropped a little lower than the average forecast.

Rio’s aluminum and copper business earnings reflect the expansion of its giant Ou Tolgoo Copper mine in Mongolia.

According to analysts, Rio, owner of significant aluminum operation in Canada, is extremely open to US President Donald Trump’s rapidly changing tariff policy. Among the new arrangements announced by the administration is a 25 percent of the tariff Import of aluminum and steel in the United States.

Chief Executive Zakob Stoum said Rio could redefine some Canada’s aluminum away from the US market as a result of the tariff. Canada is the largest exporter of aluminum in the United States.

“This will probably not be important for us, it may be more difficult for our customers,” said Stoulam, who was in Washington this week to meet the Trump administration officials.

He added that the large portfolio of Rio’s products – which extends from lithium to copper to iron ore – will help reduce the effect of certain tariffs.

Rio has a number of US mines and processing facilities and waiting for a decision from the country Supreme Court that can determine the fate of his proposed Resolution develops copper mines In Arizona.

Three members of the Rio Board will resign this year – Sam Lidlao, Simon Henry and Kaisa Hitela have shrink the size of 5 from 5 members.