Rio Tinto (ASX:RIO) was formed in 1873 when a group of investors bought the mining rights to an area next to the Rio Tinto river in Southwestern Spain. The Rio Tinto has flowed red since mining began there about 5,000 years ago.
Today Rio Tinto operates on six continents, mainly focused in Australia and Canada. Rio Tinto’s operations include mining copper, diamonds, iron ore and coal. However, after purchasing Alcan in 2007, Rio Tinto became the largest aluminum producer in the world.
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The major miner also doesn’t think other companies will be able to do so.
Kaiser also discusses the companies he is watching in the diamond space.
Supply concerns bumped the red metal’s price up 2 percent on Wednesday.
Rio Tinto plc (ASX:RIO,LSE:RIO,NYSE:RIO) released its full results for 2016, commenting that it generated strong operating cash flow of $8.5 billion. Underlying earnings came in at $5.1 billion, and the company plans to return $3.6 billion to shareholders.