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DENVER-Rio Tinto Minerals, a company created by the internal restructuring of the world's third largest mining company, Rio Tinto PLC, has chosen Denver for its world headquarters. Rio Tinto Mining is looking for 100,000 sf, to be located along the southeast corridor.
The company will require about 60,000 sf of pure office space, and about 40,000 sf of lab/office space. The company, which only became effective Feb. 1, is being represented in Denver by veteran Grubb & Ellis broker Tim Harrington. Grubb broker Ryan Stout also is part of the team.
Rio Tinto already has a presence in the Denver area as one of its affiliates, Luzenac, leases about 30,000 sf in the Inverness Business Park in Arapahoe County. The company, which produces talc, was represented by Harrington and Stout several years ago.
Rio Tinto PLC, the London-based parent, announced the creation of Rio Tinto Mining in 2005 to bring together three of its industrial minerals businesses. But it only became effective last month. In addition to Luzenac, Rio Tinto Mining includes Rio Tinto Borax, a borate supply and science company; and Dampier Salt Ltd., the world's largest exporter of solar salt. Dampier is based in Perth, Australia, while Borax is based in Valencia, CA.
Rio Tinto Mining has yet to choose its site for its new world headquarters. There is room in its Inverness building to expand, however. Initially, the headquarters is expected to house about 200 employees. The parent company owns Kennecott, which operates coal mines in Colorado, Wyoming and Montana, and one of the largest copper mines in the world, which is outside of Salt Lake City, Utah. Some people from Kennecott Energy are expected to move from Wyoming to the Denver area.
"A year from now, we all want to be in place in our new headquarters," Rio Tinto Mining spokeswoman Susan Keefe tells GlobeSt.com. The parent company has a market cap of more than $50 billion. It is involved in mining aluminum, copper, diamonds, coal, uranium, gold, titanium and iron ore.
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