Rio Tinto to sever ties to Russian businesses

2022-03-15

Mar. 12, 2022 - Rio Tinto Group said this week it will sever all ties to businesses from the Russian Federation in light of Russia conflict with Ukraine last month.

Rio Tinto does not currently have any operations in either Russia or Ukraine, but it has maintained ties to businesses from both of those countries up through the present.

“Rio Tinto is in the process of terminating all commercial relationships it has with any Russian business.”

Earlier this week a company executive said it is currently shopping for a different supplier for one of its copper operations in Mongolia, but doubted whether one outside of Russia could be found.

Currently Rio Tinto owns 80% of Queensland Alumina Ltd, with UC Rusal holding the balance. Rusal obtained its 1/5th share from Kaiser Aluminum over a decade ago. The alumina refinery is the second biggest such plant on the continent.