May 17, 2020

BHP to utilise China’s economic transformation

BHP
China
Economic transition
Belt and Road Initiative
Sophie Chapman
1 min
BHP eyes opportunities in China
The Australian-based mining company, BHP, has announced that it has spotted opportunity in China during its economic transition.

According to Arnoud Ba...

The Australian-based mining company, BHP, has announced that it has spotted opportunity in China during its economic transition.

According to Arnoud Balhuizen, the Chief Commercial Officer at BHP, the firm also see potential in the Belt and Road Initiative.

Due to the nation’s economic transformation, many steel and coal mines – which some cities relied upon – have been shut down in a bid to cut excess capacity and increase efficiency.

“With the blueprint and strategy of moving from high-speed growth to more sustainable and quality growth, the quality of resources will become more important,” commented Mr Balhuizen.

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BHP plans to work with customers in order to supply stable and high-quality sustainable resources in response to the Chinese economy.

The nation’s resources imports steadily grew last year, with crude oil, iron ore, and natural gas imports growing increasing by 10.1%, 5%, and 26.9% respectively.

“Furthermore, with infrastructure construction connecting more countries, new trade opportunities and economic development will emerge,” Balhuizen added.

“I think the rest of the world is still underestimating the importance of this huge initiative.”

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Jun 17, 2021

People Moves: Peter Cunningham appointed Rio Tinto CFO

Rio Tinto
Peter Cunningham
financial planning
Renewable Energy
2 min
Rio Tinto has appointed Peter Cunningham its Chief Financial Officer and he will also join the Board as an executive director

Rio Tinto has appointed Peter Cunningham as Chief Financial Officer (CFO) with immediate effect. Peter, who has been Interim Chief Financial Officer since 1 January 2021, will also join the Rio Tinto Board as an executive director at the same time.

Peter Cunningham appointed Rio Tinto CFO

Peter Cunningham was previously Group Controller and has held a number of senior financial and non-financial leadership positions across Rio Tinto in Australia and the UK. In a career spanning 28 years with Rio Tinto, he has held roles including Global Head of Health, Safety, Environment & Communities; Head of Energy and Climate Strategy; and Head of Investor Relations.

Prior to joining Rio Tinto, Peter qualified as a chartered accountant.

Rio Tinto CEO Jakob Stausholm commented: “I am delighted to confirm Peter in the role and, having worked closely with him for a number of years, I know he is the ideal person to be our Chief Financial Officer. His detailed knowledge of the company and of the financial and non-financial drivers of our industry will be invaluable as we continue to strengthen Rio Tinto.”

Rio Tinto Chairman Simon Thompson added: "I look forward to Peter joining the Rio Tinto Board and know from experience that his deep understanding of Rio Tinto and commitment to disciplined capital allocation will serve shareholders well and enrich our Board discussions.”

Rio Tinto aiming for net zero by 2050

Rio Tinto is aiming to reach net zero emissions across its operations by 2050. Across the company, it is targeting a 15% reduction in absolute emissions and a 30% reduction in emissions intensity by 2030, from a 2018 baseline.

Aluminium is found in everything from cars to phones. But one of the challenges of producing this essential material responsibly is finding ways to decarbonise the process.

Part of the reason is creating alumina – the main ingredient in aluminium – takes a lot of energy, which in turn creates greenhouse gas emissions. New technologies will be essential to helping reduce emissions, but many haven’t been proven. And some not yet even discovered. Rio Tinto is partnering with the Australian Renewable Energy Agency (ARENA)to develop hydrogen energy options and make a positive step towards these goals.

Rio Tinto Weipa

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