Rio Tinto
The students of one of my Stock Market Game teachers is investing in companies that have a presence in Alaska. The teacher asked me to check on Rio Tinto and its connection to Alaska. I love doing things like this---such interesting info and connections surface.
Rio Tinto is the world's second largest mining company. It is a UK-Australian company founded in 1873. Worldwide, they mine coal, iron, copper, uranium, gold, and diamonds.
Yes, Rio Tinto does have an interest in Alaska. They own (through their ownership of Kinnecott Mining) part of Greens Creek Mining Company in Juneau which owns the Green Creek Mine on Admiralty Island. The mine is an underground polymetallic mine employing approximately 280 people.
They also own part of Pebble Mine in Southwest Alaska. Pebble Mine is majority owned by Canada's Northern Dynasty company. Rio Tinto bought 19.8 percent of Northern Dynasty's equity for 100 million dollars. Pebble Mine is the largest North American gold deposit and the continent's second-largest copper deposit. The company estimates the total value of metals at $150 billion to $200 billion.
Currently BHP Billiton is discussing a Proposed Takeover and has placed a $150 billion bid for Rio Tinto.
Interesting possibilities for Student Activities:
On the Rio Tinto website their share price is quoted in other currencies---a good math problem is to convert currancies.
Also, on their website "Our Companies" provides an interesting lesson in world geography and minerals that "make industry" go. Take a world trip to check out their mines and operations!
Also of interest under What We Produce:
Superman beware: Rio Tinto discovers "kryptonite."
Rio Tinto geologists looking for borates in Serbia have discovered a previously unknown mineral that scientists say has the unique chemistry of Superman's nemesis, kryptonite.
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