Rio Tinto weighs future of Richards Bay Minerals, Quebec’s RTIT and US mine
Mining major Rio Tinto has placed its Richards Bay Minerals (RBM) operations in KwaZulu-Natal, along with its Canadian iron and titanium operations and US borates mine, under strategic review as part of an operational shake-up by new CEO Simon Trott.
The company on Wednesday announced a new operating structure that consolidates its activities into three business units and shifts its Borates and Iron and Titanium divisions to the portfolio of COO Alf Barrios for review.
RBM, a producer of titanium dioxide (TiO2) slag, rutile, zircon and pig iron, is Rio Tinto’s most significant South African asset. The Zulti South project, which was suspended in 2019 amid community unrest, is central to RBM’s long-term future. Rio Tinto has previously said that without the expansion, RBM’s existing operations would decline, reducing production capacity and affecting jobs.
In addition to RBM, the group’s Iron and Titanium business includes the Rio Tinto Iron and Titanium, or RTIT, operations in Quebec, the QIT Madagascar Minerals.
Rio Tinto’s titanium operations have been under pressure, with output falling 11% last year to 990 000 t amid weaker demand. The company ran only six of nine furnaces in Quebec and three of four at RBM in 2024. In the first half of this year, it produced 500 000 t of TiO2 slag and has guided full-year production of between 1-million and 1.2-million tonnes.
The Borates business, meanwhile, operates the Boron mine, in California. Boron is a mineral essential to plant growth and widely used in fertilisers, glass manufacturing and wood protection.
Rio Tinto said that an update on the outcome of the strategic review of these assets would be communicated “in due course”.
“Throughout this review process, these businesses will continue to focus on running safely and profitably to meet customer commitments,” said the company.
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