DOCSLIB.ORG

Rio Tinto 2016 Annual Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Rio Tinto 2016 Annual Report Get more information online Find out more about our business and performance: riotinto.com View our 2016 Annual report: riotinto.com/ar2016 View our 2016 Sustainable development online report: riotinto.com/sd2016 2016 Annual report riotinto.com/ar2016 Contents Strategic report Directors’ report Financial statements 01 44 109 Performance highlights 1 Contents 44 Contents 109 Group overview 2 Directors’ report 45 Group income statement 110 Chairman’s letter 4 Board of directors 50 Group statement of Chief executive’s statement 5 Executive Committee 53 comprehensive income 111 Market environment 7 Corporate governance 55 Group cash flow statement 112 Group strategy 8 Remuneration Report Group balance sheet 113 Business model 10 Annual statement by the Group statement of changes in equity 114 Key performance indicators 12 Remuneration Committee chairman 67 Notes to the 2016 financial statements 116 Risk management 14 Remuneration Policy Report 70 Rio Tinto plc Company balance sheet 195 Principal risks and uncertainties 16 Remuneration Implementation Report 78 Rio Tinto financial information by Portfolio management 22 business unit 199 Sustainable development 24 Australian Corporations Act Independent limited assurance report 31 – summary of ASIC relief 204 Product groups Directors’ declaration 205 Iron Ore 32 Auditor’s independence declaration 206 Aluminium 34 Independent auditors’ report 207 Copper & Diamonds 36 Financial summary 2007-2016 215 Energy & Minerals 38 Summary financial data 217 Growth & Innovation 40 Five year review 42 Production, reserves Additional information and operations To be more environmentally friendly, Rio Tinto is reducing the print run of all publications. We encourage you to visit the website to learn more about the Group’s performance in 2016 and to 218 244 view all available PDFs of this Annual report and the Strategic report. Contents 218 Shareholder information 244 Metals and minerals production 219 UK Listing Rules cross reference table 250 riotinto.com/ar2016 Ore reserves 223 Financial calendar 251 Mineral resources 228 Contact details 252 Competent Persons 234 Mines and production facilities 236 Key Page reference for more information within this report KPI Denotes key performance indicators This Annual report, which includes the Group’s 2016 Cautionary statement about forward-looking statements Strategic report, complies with Australian and UK reporting This document contains certain forward-looking statements with respect to the financial condition, results of operations and requirements. business of the Rio Tinto Group. These statements are forward-looking statements within the meaning of Section 27A of the Copies of Rio Tinto’s shareholder documents – the 2016 US Securities Act of 1933, and Section 21E of the US Securities Exchange Act of 1934. The words “intend”, “aim”, “project”, Annual report and 2016 Strategic report, along with the “anticipate”, “estimate”, “plan”, “believes”, “expects”, “may”, “should”, “will”, “target”, “set to” or similar expressions, 2017 Notices of annual general meeting – are available commonly identify such forward-looking statements. to view on the Group’s website at: riotinto.com/ar2016 Examples of forward-looking statements in this Annual report include those regarding estimated ore reserves, anticipated and riotinto.com/agm2017 production or construction dates, costs, outputs and productive lives of assets or similar factors. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors set forth in this document that are beyond the Group’s control. For example, future ore reserves will be based in part on market prices that may vary significantly from current levels. These may materially affect the timing and feasibility of particular developments. Other factors include the ability to produce and transport products profitably, demand for our products, changes to the assumptions regarding the recoverable value of our tangible and intangible assets, the effect of foreign currency exchange rates on market prices and operating costs, and activities by governmental authorities, such as changes in taxation or regulation, and political uncertainty. In light of these risks, uncertainties and assumptions, actual results could be materially different from projected future results expressed or implied by these forward-looking statements which speak only as to the date of this Annual report. Except as required by applicable regulations or by law, the Group does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events. The Group cannot guarantee that its forward-looking statements will not differ materially from actual results. Performance highlights STRATEGIC REPORT Cash generation of US$8.5 billion and US$3.6 billion of shareholder returns Rio Tinto’s 2016 results show that it has kept 2016 highlights – Returning cash to shareholders with its commitment to deliver superior shareholder – Generating strong operating cash flow of US$3.6 billion announced for 2016: returns, and maximise cash and productivity. US$8.5 billion. – full year dividend of 170 US cents per Atthesametime,theGroupstrengthenedits – Delivering underlying earnings of share, equivalent to US$3.1 billion. portfolio and advanced its high-value US$5.1 billion. – share buy-back of US$0.5 billion in growth projects. – Achieving US$1.6 billion of pre-tax Rio Tinto plc shares over the course Rio Tinto enters 2017 in good shape and will sustainable operating cash of 2017. (1) deliver US$5 billion of extra free cash flow over cost improvements. – in total, representing 70 per cent of DIRECTORS’ REPORT FINANCIAL STATEMENTS PRODUCTION, RESERVES thenextfiveyearsfromitsmine-to-market – Investing in three major growth projects in 2016 underlying earnings. productivity programme. The Group’s value bauxite, copper and iron ore. –Generatingfreecashflow(2) of over volume approach, coupled with a robust – Optimising the portfolio with disposals of US$5.8 billion which included US$0.3 billion balance sheet and world-class assets, places US$1.3 billion announced or completed in of sales of property, plant and equipment. Rio Tinto in a strong position to deliver superior 2016 and up to US$2.45 billion announced – Receiving US$0.8 billion in net proceeds shareholder returns through the cycle. to date in 2017. from disposals in 2016, with up to – Strengthening the balance sheet further US$2.6 billion expected in 2017, including with net debt reduced to US$9.6 billion. the Coal & Allied transaction for up to US$2.45 billion. Results at a glance Year to 31 December 2016 2015 Change KPI 112 Net cash generated from operating activities (US$ millions) 8,465 9,383 -10% KPI 130 Underlying earnings (3) (US$ millions) 5,100 4,540 +12% Net earnings/(loss) (US$ millions) 4,617 (866) n/a KPI 128 Capital expenditure (4) (US$ millions) (3,012) (4,685) -36% Underlying earnings per share (US cents) 283.8 248.8 +14% Basic earnings/(loss) per share (US cents) 256.9 (47.5) n/a Ordinary dividend per share (US cents) 170.0 215.0 -21% At 31 December 2016 2015 Change KPI 145 Net debt (5, 7) (US$ millions) 9,587 13,783 -30% AND OPERATIONS Gearing ratio (6, 7) 17% 24% The financial results are prepared in accordance with IFRS. (1) Operating cash cost improvements represent the difference between the current and prior year full cash cost of sales per unit based on the prior year volume sold. (2) Free cash flow is defined as Net cash generated from operating activities less Purchases of property, plant and equipment (PP&E) plus Sales of PP&E. It is a key financial indicator which management uses internally to assess performance. (3) Underlying earnings is a key financial performance indicator which management uses internally to assess performance. It is presented here to provide greater understanding of the underlying business performance of the Group’s operations. Net and underlying earnings relate to profit attributable to the owners of Rio Tinto. Underlying earnings is defined and reconciled to net earnings on page 130. Additionally, underlying EBITDA is a key financial indicator which management uses internally to assess performance. It excludes the same items that are excluded in arriving at underlying earnings. (4) Capital expenditure is presented gross, before taking into account any disposals of property, plant and equipment. (5) Net debt is defined and reconciled to the balance sheet on page 145. (6) Gearing ratio is defined as net debt divided by the sum of net debt and total equity at each period end. (7) These financial performance indicators are those which management use internally to assess performance, and therefore are considered relevant to users of the accounts. ADDITIONAL INFORMATION 2016 Annual report riotinto.com 1 Group overview Introduction to Rio Tinto Iron Ore Aluminium At Rio Tinto, as pioneers in mining and Rio Tinto operates a world-class iron ore Building on more than a century of experience metals, we produce materials essential to business, supplying the global seaborne iron and expertise, Rio Tinto is a global leader in the human progress. oretrade.Wearewellpositionedtobenefit aluminium industry. Our business includes from continuing demand across China and the high-quality bauxite mines, large-scale alumina We have been in business for more than developing world. The Iron Ore product group’s refineries, and some of the world’s lowest-cost, 140 years and remain focused on the long operations are located in the Pilbara region of most technologically-advanced term. Our approach is driven by a clear Western Australia, where it has aluminium smelters. strategy, with the goal of delivering superior industry-leading margins, and in 2016 marked value for our shareholders through the cycle Products 50 years since their first contracted shipment. (see page 8). Our strategy plays to our Bauxite strengths: world-class assets, talented Products Bauxite is the ore used to make aluminium. It is employees, a strong balance sheet and Iron ore refined into alumina which is smelted into operating excellence. Iron ore is the key ingredient in the production aluminium metal.
Load more

Recommended publications
  • BP and Rio Tinto Plan Clean Coal Project for Western Australia I P
    BP and Rio Tinto Plan Clean Coal Project for Western Australia I p... http://www.bp.com/genericarticle.do?categoryId=2012968&content... Site Index | Contact us | Reports and publications | BP worldwide | Home Search: Go About BP Environment and society Products and services Investors Press Careers BP Global Press Press releases Press releases BP and Rio Tinto Plan Clean Coal Project for Western Speeches Australia Features and news Images and graphics Release date: 21 May 2007 Contact Information In this section BP and Rio Tinto today announced that they are beginning feasibility studies and work on plans for the potential BP Takes Delivery of development of a A$2 billion (US$1.5 billion) coal-fired World's Largest LNG Carrier power generation project at Kwinana in Western Australia What is RSS? BP and D1 Oils Form Joint that would be fully integrated with carbon capture and Venture to Develop Jatropha storage to reduce its emissions of greenhouse gases. This Biodiesel Feedstock will be the first new project for Hydrogen Energy, the new BP Announces Significant company launched by BP and Rio Tinto last week, subject North Sea Investment to Boost to regulatory approval. The planned project would be an UK Gas Supplies industrial-scale coal-fired power and carbon capture and storage project. It would generate enough electricity to BP, ABF and DuPont Unveil $400 Million Investment in UK meet 15 per cent of the demand of south west Western Biofuels Australia, while each year capturing and permanently storing about four million tonnes of carbon dioxide which BP and TNK-BP Plan otherwise would have been emitted to the atmosphere.The Strategic Alliance with project would gasify locally-produced coal from the Collie Gazprom as TNK-BP Sells its region to produce hydrogen and carbon dioxide.
    [Show full text]
  • Annual Report and Financial Statements 2016 Introduction
    ANNUAL REPORT AND FINANCIAL STATEMENTS 2016 INTRODUCTION Antofagasta is a Chilean copper mining group with signifi cant by-product production and interests in transport. The Group creates value for its stakeholders through the discovery, development and operation of copper mining assets. The Group is committed to generating value in a safe and sustainable way throughout the commodity cycle. See page 2 for more information CONTENTS STRATEGIC REPORT GOVERNANCE FINANCIAL STATEMENTS 01-05 66-119 120-187 OVERVIEW 2016 highlights 1 Leadership Independent auditors’ report 122 At a glance 2 Chairman’s Governance Q&A 68 Consolidated income statement 127 Letter from the Chairman 4 Senior Independent Director’s Q&A 70 Consolidated statement Governance overview 71 of comprehensive income 128 Board of Directors 72 Consolidated statement of Executive Committee 76 changes in equity 128 06-27 Effectiveness Consolidated balance sheet 129 STRATEGY Board activities 78 Consolidated cash flow statement 130 Professional development 80 Notes to the financial statements 131 Effectiveness reviews 82 Parent company financial statements 181 Statement from the CEO 8 Accountability Question and answer 9 Nomination and Governance Committee 85 Investment case 10 Audit and Risk Committee 88 Our new operating model 11 Sustainability and Stakeholder Our position in the market 14 188-204 Management Committee 92 Our strategy 16 OTHER INFORMATION Projects Committee 94 Key performance indicators 18 Remuneration Risk management 20 Five year summary 188 Committee Chairman’s Principal
    [Show full text]
  • Preparing for Carbon Pricing: Case Studies from Company Experience
    TECHNICAL NOTE 9 | JANUARY 2015 Preparing for Carbon Pricing Case Studies from Company Experience: Royal Dutch Shell, Rio Tinto, and Pacific Gas and Electric Company Acknowledgments and Methodology This Technical Note was prepared for the PMR Secretariat by Janet Peace, Tim Juliani, Anthony Mansell, and Jason Ye (Center for Climate and Energy Solutions—C2ES), with input and supervision from Pierre Guigon and Sarah Moyer (PMR Secretariat). The note comprises case studies with three companies: Royal Dutch Shell, Rio Tinto, and Pacific Gas and Electric Company (PG&E). All three have operated in jurisdictions where carbon emissions are regulated. This note captures their experiences and lessons learned preparing for and operating under policies that price carbon emissions. The following information sources were used during the research for these case studies: 1. Interviews conducted between February and October 2014 with current and former employees who had first-hand knowledge of these companies’ activities related to preparing for and operating under carbon pricing regulation. 2. Publicly available resources, including corporate sustainability reports, annual reports, and Carbon Disclosure Project responses. 3. Internal company review of the draft case studies. 4. C2ES’s history of engagement with corporations on carbon pricing policies. Early insights from this research were presented at a business-government dialogue co-hosted by the PMR, the International Finance Corporation, and the Business-PMR of the International Emissions Trading Association (IETA) in Cologne, Germany, in May 2014. Feedback from that event has also been incorporated into the final version. We would like to acknowledge experts at Royal Dutch Shell, Rio Tinto, and Pacific Gas and Electric Company (PG&E)—among whom Laurel Green, David Hone, Sue Lacey and Neil Marshman—for their collaboration and for sharing insights during the preparation of the report.
    [Show full text]
  • Itraxx Europe & Crossover Series 35 Final Membership List
    iTraxx Europe & Crossover Series 35 Final Membership List March 2021 Copyright © 2021 IHS Markit Ltd T180614 iTraxx Europe & Crossover Series 35 Final Membership List 1 iTraxx Europe Series 35 Final Membership List......................................... 3 2 iTraxx Europe Series 35 Final vs. Series 34.............................................. 7 3 iTraxx Crossover Series 35 Final Membership List ................................... 8 4 iTraxx Crossover Series 35 Final vs. Series 34........................................11 5 Further information ...................................................................................12 Copyright © 2021 IHS Markit Ltd | 2 T180614 iTraxx Europe & Crossover Series 35 Final Membership List 1 iTraxx Europe Series 35 Final Membership List iTraxx Sector IHS Markit Ticker IHS Markit Long Name Autos & Industrials AIRBSE AIRBUS SE Autos & Industrials VLVY AKTIEBOLAGET VOLVO Autos & Industrials AKZO AKZO NOBEL N.V. Autos & Industrials ALSTOM ALSTOM Autos & Industrials AAUK ANGLO AMERICAN PLC Autos & Industrials AZN ASTRAZENECA PLC Autos & Industrials BAPLC BAE SYSTEMS PLC Autos & Industrials BASFSE BASF SE Autos & Industrials BYIF BAYER AKTIENGESELLSCHAFT Autos & Industrials BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT Autos & Industrials BOUY BOUYGUES Autos & Industrials CNHIND CNH INDUSTRIAL N.V. Autos & Industrials STGOBN COMPAGNIE DE SAINT-GOBAIN Autos & Industrials COMPFIAG COMPAGNIE FINANCIERE MICHELIN SA Autos & Industrials CONTI CONTINENTAL AKTIENGESELLSCHAFT Autos & Industrials DAMLR DAIMLER
    [Show full text]
  • Learnin G to Lead
    A legacy of growth The Ivey Business School has come a long way from its humble, yet visionary, beginnings in 1922, as a program within the Faculty of Arts, housed in the basement of Western’s University College. Since Learning to Lead: that time, Ivey’s history could be traced through the many places 1923-2013 it has called home — the first being an old mansion near campus, called Goodholme. It was a space the School quickly outgrew after adding Canada’s first MBA program in 1948. So, in 1956 a new building The history of the Ivey Business School is marked by both on campus was built, thanks to generous donations from the then significant milestones and by the people whose vision and leadership Learning to Lead Learning to Richard Ivey Foundation and Richard G. Ivey. made them happen. We added on to this main building with the National Centre for Learning This second edition of Learning to Lead carries on the important Management Research and Development in 1986, and again, in 2003, work of its first editor – Doreen McKenzie-Sanders – and brings with the addition of the Lawrence National Centre for Policy and to light the growth and change generated by Deans Larry Tapp Management. And Ivey continued to grow. (1995-2003) and Carol Stephenson (2003-2013) in establishing The Spencer Leadership Centre became the home of Ivey’s Ivey as one of the world’s premier business schools. It also Executive Development programs in 1977. And in the early 90s, the to Lead recognizes the transformative vision of the Ivey Family and their J.
    [Show full text]
  • 23026491.Pdf
    LETTER OF TRANSMITTAL I,TABLE OF CONTENTS The Honourable Pat Carney, P.C., M.P. Page Minister of Energy, Mines and Resources House of Commons Report from the Chairman and the President 2 Ottawa, Ontario Research Company 4 Dear Miss Carney: CANDU Operations 6 In accordance with subsection 152(1) of the Financial Radiochemical Company 8 Administration Act, 1 am pleased to submit the annual Employee Performance 10 report of Atomic Energy of Canada Limited for the fiscal Nuclear Canada 12 year ended March 31, 1986, together with the Financial Statements and the Report of the Auditor General. Financial Section Financial Review 14 Respectfully, Auditor's Report 16 Financial Statements 18 Board of Directors and Officers 28 AECL Locations 28 Robert Despres Chairman of the Board FINANCIAL HIGHLIGHTS 1986 1985 original contains (millions of dollars) color illustrations Commercial Operations Revenue 260 309 Operating Profit 28 8 Net Income 17 10 Parliamentary Appropriations 275 326 Research and Development Operations 212 224 Point Lepreau: Dorothy Theriault. assistant power plant operator, was one of the people responsible for the outstanding performance last year of the CANDU 600 nuclear power plant at Point Lepreau. New Brunswick. The reactor operated at 97.4 % of its capacity, rank- ing second in the world in its class. n.r ://* J'i' •k REPORT FROM THE CHAIRMAN AND THE PRESIDENT m ast year the corporation experienced encouraging The year was marked by a solid effort in both market- ^La^ results for its mix of products and services, although ing and customer support at CANDU Operations. Continu- the long cycle of recovery for the reactor business achieved ing work associated with the programs in Romania and only modest momentum.
    [Show full text]
  • Glencore's Shares Drop After Justice Department Subpoena
    WL SEIS Exhibit 9 https://www.nytimes.com/2018/07/03/business/glencore-subpoena-mining-commodities.html Glencore’s Shares Drop After Justice Department Subpoena By Stanley Reed and Michael J. de la Merced July 3, 2018 LONDON — Glencore, a Switzerland‑based mining and commodities trading giant, said on Tuesday that it had received a subpoena from the United States Department of Justice requesting documents in a money‑laundering and corruption investigation. The subpoena is tied to Glencore’s dealings in the Democratic Republic of Congo, Nigeria and Venezuela since 2007, and it seeks material related to “compliance with the Foreign Corrupt Practices Act” and with United States money‑laundering rules, the company said in a statement. News that American investigators were looking into Glencore’s businesses spooked investors, sending the company’s share price down as much as 13 percent at one point on Tuesday. By late afternoon in London, its stock price had recovered somewhat, but was still 5 percent lower. Charles Watenphul, a Glencore spokesman, said, “We got this letter last night; we are going through it.” While Glencore has not been charged with any crime, the development is a blow to one of the most powerful commodities mining and trading empires around, one that employs 146,000 workers around the world. With headquarters in Baar, near Zurich, the company is among the biggest producers of copper and of cobalt, a crucial component of batteries for electric vehicles and electronic devices like smartphones. (Cobalt is so important that the Trump administration has deemed it critical for American national security.) Glencore is also a major player in coal, with 26 mines in countries such as Australia, Colombia and South Africa.
    [Show full text]
  • Restructuring the Australian Economy to Emit Less Carbon: Detailed Analysis
    April 2010 Restructuring the Australian Economy to Emit Less Carbon: Detailed Analysis John Daley and Tristan Edis Restructuring the Australian economy to emit less carbon – detailed analysis Founding members Senior Institutional Grattan Institute Report No. 2010-2 April 2010 Affiliates This report of detailed analysis accompanies a publication: National Australia Bank Restructuring the Australian economy to emit less carbon: main report. The main report can be downloaded from the Grattan Institute website This report was written by John Daley, CEO, and Tristan Edis, Research Fellow. Katherine Molyneux, Helen Morrow, Marcus Walsh and Julian Reichl provided extensive research assistance and made substantial contributions to the report. We would like to thank the members of Grattan Institute’s Energy Reference Group for their helpful comments, as well as numerous industry participants and officials for their input. The opinions in this report are those of the authors and do not necessarily represent the views of Grattan Institute’s founding members, Institutional Affiliates affiliates, individual board members or reference group members. Any remaining errors or omissions are the responsibility of the authors. Arup Grattan Institute is an independent think-tank focused on Urbis Australian public policy. Our work is thoughtful, evidence-based, and non-aligned. We aim to improve policy outcomes by engaging with both decision-makers and the community. For further information on Grattan Institute’s Energy program please go to: http://www.grattan.edu.au/programs/energy.php To join our mailing list please go to: http://www.grattan.edu.au/signup.html ISBN: 978-1-925015-03-4 GRATTAN Institute 2010 2 Restructuring the Australian economy to emit less carbon – detailed analysis Table of Contents 1.
    [Show full text]
  • Munk School of Global Affairs & Public Policy
    Munk School of Global Affairs & Public Policy Annual Report 2019–20 2 munk school of global affairs & public policy About the Munk School Table of Contents About the Munk School ...................................... 2 Student Programs ..............................................12 Research & Ideas ................................................36 Public Engagement ............................................72 Supporting Excellence ......................................88 Faculty and Academic Directors .......................96 Named Chairs and Professorships....................98 Munk School Fellows .........................................99 Donors ...............................................................101 1 munk school of global affairs & public policy AboutAbout the theMunk Munk School School About the Munk School The Munk School of Global Affairs & Public Policy is a leader in interdisciplinary research, teaching and public engagement. Established in 2010 through a landmark gift by Peter and Melanie Munk, the School is home to more than 50 centres, labs and teaching programs, including the Asian Institute; Centre for European, Russian, and Eurasian Studies; Centre for the Study of the United States; Centre for the Study of Global Japan; Trudeau Centre for Peace, Conflict and Justice and the Citizen Lab. With more than 230 affiliated faculty and more than 1,200 students in our teaching programs — including the professional Master of Global Affairs and Master of Public Policy degrees — the Munk School is known for world-class faculty, research leadership and as a hub for dialogue and debate. Visit munkschool.utoronto.ca to learn more. 2 munk school of global affairs & public policy About the Munk School About the Munk School 3 munk school of global affairs & public policy 2019–20 annual report 3 About the Munk School Our Founding Donors In 2010, Peter and Melanie Munk made a landmark gift to the University of Toronto that established the (then) Munk School of Global Affairs.
    [Show full text]
  • Bankrolling the World
    Since 2005, the UK’s high street banks have poured at least £12 billion into coal mining. Much of this is ordinary people’s money. Stop By nancing this dirty industry, banks are complicit in pushing people off their land and destroying communities around bankrolling the world. Coal is extracted and exported for use elsewhere, while many of the affected communities are among the 1.3 billion people who have no access to electricity. coal Join with WDM in calling for banks to get out of coal. The facts: UK banks and coal mining 2005-2012 £4.0bn £3.1bn £2.1bn £1.9bn £900m RBS and NatWest: Barclays: HSBC: Standard Chartered: Lloyds Banking Group: Glencore Xstrata*, South Africa Bumi Resources, Indonesia Drummond, Colombia Borneo Lumbung, Indonesia Cerrejón, Colombia The RBS Group (including NatWest), is the Barclays has long been a target of public HSBC is the UK’s biggest bank and one of Standard Chartered is descended from the A large part of Lloyds Banking Group (inlcuding biggest fi nancier of coal mining in the UK. anger for its lack of ethics, from links to the top three banks in the world. It was ‘Chartered Bank of India, Australia and China’ Halifax and Bank of Scotland) is owned by the After the fi nancial crisis of 2008, RBS was Apartheid South Africa in the 1980s to the established in 1865 as the Hong Kong and and the ‘Standard Bank of British South UK taxpayer. Despite being smaller than the 84 per cent nationalised as part of the bank recent rate fi xing scandal.
    [Show full text]
  • The Mineral Industry of Australia in 2007
    2007 Minerals Yearbook AUSTRALIA U.S. Department of the Interior December 2009 U.S. Geological Survey THE MINERAL INDUS T RY OF AUS T RALIA By Pui-Kwan Tse Australia was one of the world’s leading mineral producing Constitution belong to the States and Territories. All powers that countries and ranked among the top 10 countries in the world in relate to mineral resources and their production belong to the the production of bauxite, coal, cobalt, copper, gem and near- States and Territories. Except for the Australian Capital Territory gem diamond, gold, iron ore, lithium, manganese ore, tantalum, (that is, the capital city Canberra and its environs), all Australian and uranium. Reflecting an increase in world demand for States and Territories have identified mineral resources and mineral commodities, the Australian economy grew at a rate of established mineral industries. 3.9% during 2007. Owing to anticipated higher prices of mineral The Mineral Council of Australia (MCA) urged the Federal commodities in the world markets, the Australian economy Government to establish a nationwide project approval process continued expanding and, as a result, surplus productive that would be consistent across all jurisdictions to reduce capacity was expected in the future. Owing to an increase in regulatory burdens that were affecting the mineral sector. In domestic demand and a tightening in the labor market, the addition, 10 principal statutes govern occupational health and consumer price index increased by 4.2% in 2007. safety in Australia, and, according to the MCA, this multilayer Australia’s total mineral exploration spending, excluding regulatory regime imposes a significant administrative burden petroleum, was $1,751.9 million (A$2,061.1 million) in 2007.
    [Show full text]
  • Annex 1: Parker Review Survey Results As at 2 November 2020
    Annex 1: Parker Review survey results as at 2 November 2020 The data included in this table is a representation of the survey results as at 2 November 2020, which were self-declared by the FTSE 100 companies. As at March 2021, a further seven FTSE 100 companies have appointed directors from a minority ethnic group, effective in the early months of this year. These companies have been identified through an * in the table below. 3 3 4 4 2 2 Company Company 1 1 (source: BoardEx) Met Not Met Did Not Submit Data Respond Not Did Met Not Met Did Not Submit Data Respond Not Did 1 Admiral Group PLC a 27 Hargreaves Lansdown PLC a 2 Anglo American PLC a 28 Hikma Pharmaceuticals PLC a 3 Antofagasta PLC a 29 HSBC Holdings PLC a InterContinental Hotels 30 a 4 AstraZeneca PLC a Group PLC 5 Avast PLC a 31 Intermediate Capital Group PLC a 6 Aveva PLC a 32 Intertek Group PLC a 7 B&M European Value Retail S.A. a 33 J Sainsbury PLC a 8 Barclays PLC a 34 Johnson Matthey PLC a 9 Barratt Developments PLC a 35 Kingfisher PLC a 10 Berkeley Group Holdings PLC a 36 Legal & General Group PLC a 11 BHP Group PLC a 37 Lloyds Banking Group PLC a 12 BP PLC a 38 Melrose Industries PLC a 13 British American Tobacco PLC a 39 Mondi PLC a 14 British Land Company PLC a 40 National Grid PLC a 15 BT Group PLC a 41 NatWest Group PLC a 16 Bunzl PLC a 42 Ocado Group PLC a 17 Burberry Group PLC a 43 Pearson PLC a 18 Coca-Cola HBC AG a 44 Pennon Group PLC a 19 Compass Group PLC a 45 Phoenix Group Holdings PLC a 20 Diageo PLC a 46 Polymetal International PLC a 21 Experian PLC a 47
    [Show full text]