The Idea
Rio Tinto is the second-largest metals and mining company in the world. It is an Anglo-Australian conglomerate founded in 1873 when the company purchased the rights to mine at the Rio Tinto mines in southern Spain. These first mines were also the namesake of the company and were a rich source of copper, silver, and other metals.
The company is dual-listed in the UK and Australia and has significant mining/refining operations across several countries. With the increasing need for metals and environmental movements, Rio Tinto is currently researching better methods of metal extraction, recycling, and decarbonising the mining process.
Mission Statement
Rio Tinto being a large publicly traded mining company has a mission statement balancing shareholder duties with commitment to sustainable mining operations.
The aim of Rio Tinto is given as “Our ambition is to deliver superior returns for our shareholders by becoming a leader in the global energy transition and finding better ways to provide the materials the world needs.[1].
The statement demonstrates Rio Tinto’s commitment to providing materials in an environmentally conscious manner whilst balancing its fiduciary duty to shareholders.
References
[1] https://www.riotinto.com/about#:~:text=Our%20ambition%20is%20to%20deliver,the%20materials%20the%20world%20needs.
[2] https://www.researchandmarkets.com/reports/5781216/mining-global-market-report