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Essay / Research Paper Abstract
This 6 page paper outlines the key factors for success in the mining industry and then looks at the current strategies of Rio Tinto, before making and justifying future recommendations. The bibliography cites 5 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TEriotin.rtf
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Unformatted sample text from the term paper:
publicly owned company and a large number of shareholders it is the satisfaction f the shareholders that is the paramount aim, but this must be achieved though the concentration on
the core competences. As the company has divested unrelated interests there are no unrelated diversification interests. To continue operating successfully the mining companies need to keep a range of stakeholders
happy, not only the shareholders. These range from the local residents and those that will use the environments in which the mines are situated, the employees and customers, but also
government bodies that grant licences. Mining in a long term industry, and as such the first necessity for success are the location and ownership of mining rights for the good
quality ores or minerals that are to be sold. This requires expertise in the location of the sites and the ability to develop the sites and extract the ores. This
means not only sites for mines, but good quality contents within the mine resources. To deliver the economic benefits there needs to be the ability to develop economies of scales
the mines operated. For Rio Tinto, it is the economies of scale that are the source of their main competitive advantage (Rio Tinto, 2003). There is the need to
work closely with host countries in the international mining operation, this means that issues such as the environment and care taken over the environment are also components for success, If
these are not addressed the company will not gain the mining rights and ices it needs from the host countries. This means lessening the environmental impact and caring for the
environment in which the mines are located. Mining is also a very dangerous activity. Therefore, to be successful there is the need for the right staff, not only at
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