---
endpoint: analytics
pattern: Materials
status: done
latency_ms: 144214
conversation_id: f33ebe83-4517-4536-bcce-48b45c4d57b0
citations: 4
created: 2026-05-31 20:30:52Z
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# Who are the key shareholders of Rio Tinto?

# Rio Tinto — Key Shareholders

Rio Tinto operates under a Dual Listed Companies (DLC) structure spanning **Rio Tinto plc** (London Stock Exchange / NYSE ADR) and **Rio Tinto Limited** (ASX). Substantial shareholder disclosures must be filed separately under UK Disclosure & Transparency Rules (≥3% of plc voting rights) and the Australian Corporations Act 2001 (≥5% of Limited voting power). The most recent disclosed substantial holders (per the 2025 Annual Report, as of 31 December 2025 / 5 February 2026) are below.

## Substantial Shareholders — Rio Tinto plc (LSE leg)
*As of 31 December 2025; ≥3% voting-rights threshold under UK DTR 5* [1]

| Shareholder | Date of Notice | Shares | % of plc Capital |
|---|---|---|---|
| **Shining Prospect Pte. Ltd** (Chinalco vehicle) | 7 Dec 2018 | 182,550,329 | **14.02%** |
| **BlackRock, Inc.** | 4 Dec 2009 (later refresh: 23 Apr 2025) | 127,744,871 | **8.38%** (per 2009 filing; 7.1% / 88.6m shares per 23-Apr-2025 SEC 13G amendment) |
| **The Capital Group Companies, Inc.** | 6 Jul 2022 | 51,648,733 | **4.13%** |
| **JPMorgan Nominees Australia Ltd** | 9 Oct 2025 | 50,351,535 | **4.01%** |

## Substantial Shareholders — Rio Tinto Limited (ASX leg)
*As of 5 February 2026; ≥5% voting-power threshold under Australian Corporations Act 2001* [2]

| Shareholder | Date of Notice | Shares | % of Limited Capital |
|---|---|---|---|
| **State Street Corporation** | 19 Jan 2026 | 40,087,609 | **10.80%** |
| **JP Morgan Chase & Co** | 15 Jan 2026 | 26,467,382 | **7.13%** |
| **BlackRock, Inc.** | 5 Dec 2022 | 26,031,175 | **7.01%** |
| **The Vanguard Group, Inc.** | 18 Jul 2025 | 24,179,069 | **6.51%** |
| **Shining Prospect Pte. Ltd** (Chinalco) | 9 Feb 2018 | (deemed via DLC) | **10.32% voting power** |

## Key Context — Chinalco / Shining Prospect

- **Shining Prospect Pte. Ltd** is a Singapore-based entity owned by **Chinalco (Aluminum Corporation of China)** — a Chinese state-owned enterprise. Its 182.55m Rio Tinto plc shares translate into **10.32% voting power across the Rio Tinto Group on a Joint Decision matter** under the DLC structure [4].
- Chinalco has steadily ridden up Rio's share-buyback programs (it didn't participate in the buybacks). At Rio Tinto plc's April 2024 AGM, **Shining Prospect voted against the share-purchase authority** (Resolution 25), bringing it close to the **14.99% cap agreed with the Australian Government at the time of Chinalco's original 2008 investment** [3]. As of the 2024 disclosure cycle, Chinalco's plc holding had grown to **over 14%** [3]; the 2025 Annual Report records the same 182.55m share block now equating to **14.02% of plc capital** [1].

## How to Read This

- **Index-tracker mega-managers dominate the public float.** BlackRock, Vanguard, State Street, and Capital Group together appear across both legs — a typical pattern for a FTSE 100 / ASX 20 dual-listed major. State Street's 10.8% of Rio Tinto Limited (as of 19 January 2026) is the single largest disclosed Limited-leg position [2].
- **JP Morgan-name entities** (JPMorgan Nominees Australia Ltd on the plc leg with 4.01%, and JP Morgan Chase & Co on the Limited leg with 7.13%) are typically custodian/nominee positions held on behalf of underlying beneficial owners; they are NOT proprietary economic stakes by JPM.
- **Chinalco is the only strategic / non-financial substantial holder.** This stake dates back to Chinalco's February 2008 acquisition (originally 12% of plc, funded in part by Alcoa Inc.), defended through Rio's buybacks and currently constrained by the 14.99% Australian Government cap. It is the structural overhang behind major Sino-Australian project decisions (e.g., the Western Range JV with Baowu, which required Limited-shareholder approval as a related-party transaction given Baowu's common state ownership with Chinalco).
- **The plc 8.38% BlackRock figure dates from 2009** under UK DTR rules (no re-notification was required as the position changed within the same percentage band); the more current US SEC 13G Amendment of 23 April 2025 shows BlackRock's plc beneficial ownership at **88.63m shares / 7.1%** [1] — useful as a freshness check on the legacy disclosure.

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**Sources**

[1] Rio Tinto Plc (RIO-GB) — Annual Report 2025 — Share Ownership: Substantial shareholders in Rio Tinto plc (Notice table as of 31 December 2025)
[2] Rio Tinto Plc (RIO-GB) — Annual Report 2025 — Share Ownership: Substantial shareholders in Rio Tinto Limited (Notice table as of 5 February 2026)
[3] Rio Tinto Group — 2025 6-K — Purchases: Rio Tinto Limited shares / AGM Disclosures (Chinalco / Shining Prospect)
[4] Rio Tinto Group — 2025 6-K — Substantial shareholders footnotes (Shining Prospect 10.32% DLC voting power)

## Citations

- [1] **2025 6-K Rio Tinto Group** · external
- [2] **Rio Tinto Plc (RIO-GB) - Annual Report for period end 31-Dec-2025 (English) - PDF** · external
- [3] **2025 6-K Rio Tinto Group** · external
- [4] **2025 6-K Rio Tinto Group** · external

