The company has made many takeovers over the years and is focused on mining iron ore, copper, gold, diamonds, uranium and coal. It operates on six continents and first struck it lucky in Spain and then later in Rhodesia.
Rio Tinto's turnover is somewhere in the region of $60 billion with a net profit of around $15 billion.
The firm was recently embroiled in a spy scandal involving its biggest customer: China. Four Rio Tinto employees were arrested in Shanghai on charges of corruption and industrial espionage in July 2009. One of the employees was accused of bribery during contract talks. Rio Tinto and China seem to have put all this behind them as it was announced Rio Tinto has signed a joint venture with the state owned Chinese Chinalco organisation based in Beijing to search for copper.
Environmentalists have been concerned with Rio Tinto's activities in Indonesia, in particular the Grasberg Mine, which greens have said has vastly damaged the local environment, something denied by Rio Tinto.
Rio Tinto has also been plagued with disputes with workers of late ranging from Papua New Guinea to California and indeed Australia itself. Criticisms levelled at the firm are that it has ignored trade union legislation and also show a disregard for human rights. Eventually in the case of Papua New Guinea Rio Tinto lost out to people power in what was called the Coconut Revolution.
Rio Tinto's influence and reach is massive. It is a firm to keep an eye on and perhaps invest in if one ever has any money!
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