Rio Tinto was founded in 1873 when a group of investors purchased a mine complex on the Rio Tinto, in Huelva, Spain from the Spanish government. The company has since grown through a series of mergers and acquisitions to have one of the most valuable brands in the mining industry, with a brand value estimated at around 3.1 billion U.S. dollars. Rio Tinto has joint head offices in both London and Melbourne, Australia. As of 2018, the company has more than 47 thousand employees worldwide. The company’s 2018 revenue amounted to around 40.5 billion U.S. dollars, and its net income in that year stood at approximately 13.6 billion U.S. dollars. The company has operations in up to six different continents, with China accounting for the largest share of its revenue.
Although primarily focused on extraction of minerals, Rio Tinto also has significant operations in refining, particularly for refining bauxite and iron ore. The largest share of the company’s segmental revenue in 2018 was generated from its iron ore segment.