THE BRIEF “Additive manufacturing shows a lot of potential … through reduced or eliminated need for transport and storage of parts, and also shorter delivery times” Ronne Hamerslag
Head of Supply Management, Boliden READ MORE
“As much as there is an increase in demand, there is also increase in demand for responsiblyproduced materials” Michèle Brülhart
Executive Director, Copper Mark READ MORE
“The mining sector is hungry for solutions that improve safety, decrease greenhouse gas emissions, and improve profitability” Dr Andrew Job
CEO and Co-founder, Plotlogic READ MORE
12
May 2022
Mining giant Rio Tinto joins Russia exodus Background Anglo-Australian mining group Rio Tinto has joined the lengthening list of major companies to pull out of Russia following its invasion of Ukraine. What are the implications? The group's decision to end commercial dealings leaves question marks over its Oyu Tolgoi copper-gold project in Mongolia, where it buys Russian diesel, as well as its partnership with Rusal, the Russian aluminium group, in Australia, where the companies co-own the Queensland Alumina refinery. In January, the Oyu Tolgoi Board approved the beginning of a near US$7bn-expansion of underground operations, unlocking the most valuable part of the mine, with sustainable underground production expected in the first half of 2023. How else might minerals’ market be impacted? Russia's abundant supplies of minerals such as nickel could have knock-on effects in other areas, including electric vehicles. Rio Tinto is supporting the development of a battery ecosystem in Europe with an investment in Inobat Auto, a European-based battery technology and manufacturing company. Rio Tinto isn’t the only company impacted, though: Canadian gold miner Kinross has announced a ‘transition plan’ to sell its Russian assets. Why is Rio Tinto enhancing its ESG profile? A damaging report found bullying, sexual harassment, racism and other forms of discrimination systemic across its worksites, with almost half of workers experiencing bullying. The report, which outlines 26 detailed recommendations, will inform work being carried out to improve how the company prevents and responds to discrimination and unacceptable workplace behaviour. Rio Tinto said it will implement all recommendations.
