Latest news with #MarkDavies
Yahoo
05-08-2025
- Business
- Yahoo
Rio Tinto releases new tailings facilities disclosure aligned with GISTM requirements
MELBOURNE, Australia, August 05, 2025--(BUSINESS WIRE)--Rio Tinto has today published detailed information on its global tailings facilities, in alignment with the Global Industry Standard on Tailings Management (GISTM). The disclosure includes updated information on 14 tailings facilities rated Very High or Extreme consequence under GISTM classifications (as previously disclosed on 4 August 2023), along with new information on a further 84 tailings facilities rated Low, High or Significant. Rio Tinto Chief Technical Officer Mark Davies said "Managing tailings responsibly is essential for keeping people, communities and the environment safe from harm and is fundamental to maintaining our social licence. "We are proud to share our management practices transparently and to partner with local communities, our industry peers and regulators to drive transformative improvements in tailings management. "Rio Tinto has committed to implementing the GISTM at all our tailings facilities and we have been working hard over the past five years to bring these into conformance. We have made significant progress and have detailed plans in place to complete the few outstanding items." Details of Rio Tinto's tailings facilities and progress towards GISTM conformance, can be accessed via an interactive map available at View source version on Contacts Please direct all enquiries to Media Relations, United Kingdom Matthew Klar M +44 7796 630 637David Outhwaite M +44 7787 597 493 Media Relations, Australia Matt Chambers M +61 433 525 739Rachel Pupazzoni M +61 438 875 469Bruce Tobin M +61 419 103 454 Media Relations, Canada Simon Letendre M +1 514 796 4973Malika Cherry M +1 418 592 7293Vanessa Damha M +1 514 715 2152 Media Relations, US Jesse Riseborough M +1 202 394 9480 Investor Relations, United Kingdom Rachel ArellanoM: +44 7584 609 644David Ovington M +44 7920 010 978Laura Brooks M +44 7826 942 797Weiwei Hu M +44 7825 907 230 Investor Relations, Australia Tom Gallop M +61 439 353 948Phoebe Lee M +61 413 557 780 Rio Tinto plc 6 St James's SquareLondon SW1Y 4ADUnited KingdomT +44 20 7781 2000Registered in EnglandNo. 719885 Rio Tinto Limited Level 43, 120 Collins StreetMelbourne 3000AustraliaT +61 3 9283 3333Registered in AustraliaABN 96 004 458 404 Category: General Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
05-08-2025
- Business
- Business Wire
Rio Tinto releases new tailings facilities disclosure aligned with GISTM requirements
MELBOURNE, Australia--(BUSINESS WIRE)--Rio Tinto has today published detailed information on its global tailings facilities, in alignment with the Global Industry Standard on Tailings Management (GISTM). The disclosure includes updated information on 14 tailings facilities rated Very High or Extreme consequence under GISTM classifications (as previously disclosed on 4 August 2023), along with new information on a further 84 tailings facilities rated Low, High or Significant. Rio Tinto Chief Technical Officer Mark Davies said 'Managing tailings responsibly is essential for keeping people, communities and the environment safe from harm and is fundamental to maintaining our social licence. 'We are proud to share our management practices transparently and to partner with local communities, our industry peers and regulators to drive transformative improvements in tailings management. 'Rio Tinto has committed to implementing the GISTM at all our tailings facilities and we have been working hard over the past five years to bring these into conformance. We have made significant progress and have detailed plans in place to complete the few outstanding items.' Details of Rio Tinto's tailings facilities and progress towards GISTM conformance, can be accessed via an interactive map available at
Irish Independent
25-07-2025
- Business
- Irish Independent
Primary health centre developer close to breaking ground on Youghal site
PHP's chief executive Mark Davies said his firm is very close to agreeing final terms with the HSE for a 25-year lease, with rent reviews tied to the Irish consumer price index (CPI) inflation rates. The primary health centre model typically involves a developer like PHP building and owning a purpose-built medical centre and leasing it to the HSE for use by a mix of GPs and other clinicians. Similar developments had been at a standstill in recent months as building inflation pushed construction costs ahead of HSE rent scales. 'The market has been challenging for three to four years because of build cost inflation and in has taken time for that (rents) to catch up,' Mr Davies said. 'Higher rents are capturing build cost inflation which has now stabilised.' If the developer had not been able to agree rent terms, the entire tender process would go back to the start of the tender process with significant delays, he said. Earlier this month PHP said it was eyeing €75m of investment in three new-build Irish medical facilities, amid signs that rent hikes are incentivising investment. PHP is also in the process of executing an agreed merger with Assura, a UK peer operating in the same segment that has another two sites here in its development pipeline. The PHP sites are closer to commencement, Mr Davies said, including projects in Donnybrook in Dublin and Enniscorthy, Co Wexford. The UK stock market-listed business already has 22 properties in Ireland including in Dublin, Kildare, Wicklow and Cork, representing around 10pc of its entire business. The existing PHP portfolio in Ireland is valued at around £300m (€340m) versus Assura's £75m of Irish assets. ADVERTISEMENT The potential combination of PHP and Assura assets in Ireland will provide possible additional options to use the scale of a euro-denominated balance sheet to cut funding costs, Mr Davies said. PHP's leases to the HSE and other government bodies account for around 75pc of income in Ireland, but tenants also include Laya, after the business made a €22m acquisition of the property housing the Laya Health & Wellbeing Clinic in Cork earlier this year. Yesterday, PHP reported interim results for the six months ended June 30. They showed rising rents, profits and valuations across the business, Mr Davies said. Net rental income in the first half of the year was £78.6m for the business as a whole, with 88pc of that from government bodies in the UK and Ireland. PHP is pushing ahead with the proposed merger with Assura that has the backing of both boards. The combination will create a UK Reit with a £6bn portfolio of long-leased, government-backed healthcare assets.
Irish Independent
08-07-2025
- Business
- Irish Independent
PHP eyesinvestment of €75m in three new medical facilities
The UK stock market-listed business has 22 properties including in Dublin, Kildare, Wicklow and Cork. Leases to the HSE and other government bodies account for around 75pc of income in Ireland but tenants also include Laya, after the business made a €22m acquisition of the property housing the Laya Health & Wellbeing Clinic, in Cork, earlier this year. In a trading update yesterday, PHP said it continues to see significant growth opportunities in Ireland driven by sustained Government investment, including the three potential 'forward funded' developments, a model where developers build with an end customer locked in as funder. 'We continue to monitor a number of potential opportunities in Ireland and in particular three forward funded developments with an expected cost of approximately €75m being progressed by our development partner in Ireland,' the trading update said. PHP CEO Mark Davies has previously said he would like to double the size of the Irish portfolio in the next three to five years. As of June 30, the portfolio in Ireland comprised 22 standing and fully let properties, valued at €340.9m. Meanwhile, the same trading update showed rent reviews covering 14 of the Irish properties resulted in significant increases of 16pc and an annualised increase of 3.4pc – adding a combined £400,000 (€465,000) to a rent role that had been £2.7m. PHP had previously argued that the HSE needed to increase the rents it was willing to pay by 'about 20pc' in order for new build projects to be investible. Mr Davies said PHP's strong operational and financial performance was driven by rental growth across the portfolio, a value-accretive acquisition in Ireland, valuation gains and another period of dividend growth. 'The improving rental growth outlook and a stabilisation of our property yields at 5.25pc signal that we've moved through a key inflexion point in the property cycle with a very encouraging outlook ahead,' he said. Meanwhile, PHP is pushing ahead with a proposed merger with sector rival Assura. The combination will create a UK REIT with a £6bn portfolio of long-leased, government-backed healthcare assets.
Times
07-07-2025
- Business
- Times
PHP on target for 29th straight year of dividend growth
One of Britain's largest NHS landlords is heading for its 29th consecutive year of dividend growth, underpinned by rising rents and the recovering valuations of its buildings. Primary Health Properties also expects to benefit from the government's recently announced ten-year health plan, which it said is 'clearly positive'. Part of the plan is to shift more services into the community and the healthcare centres of which PHP owns more than 500 around the UK. 'It's costing [the government] £500 now for every patient going into hospital, but if that patient is in primary care, it's £40 to £50. It's no wonder they want to push outpatient services into the community,' Mark Davies, chief executive of PHP, said. 'They want to do that in the next ten years but they can't do that from the existing estate. We're well placed to work alongside government and deliver these neighbourhood health centres in communities that we're already invested in.' The consensus in the industry is that the shortage of healthcare facilities in the UK will only worsen as the population grows ever larger and people live longer. Landlords, including PHP, have slowed their development programmes or stopped them completely as rents have failed to keep up with inflation, making new sites economically unviable. Rents, though, are rising. Following a number of reviews so far this year, PHP generated net rental income of £78.6 million between January and the end of June: 3.1 per cent above the £76.2 million it generated in the same period of 2024. 'London is definitely leading the charge in terms of [getting to] that rental level we need to enable new developments,' Davies, 50, said. 'But we are now looking at some opportunities across the country that weren't on the table in February [when PHP published its annual results]. It's a reflection of the change of government and an absolute commitment to reduce waiting lists.' Commercial property valuations, after a tough couple of years, are beginning to improve. The value of PHP's property portfolio rose 0.7 per cent to £2.81 billion in the first six months of this year, marking its first increase since 2020. • PHP adds £27m dividend to its bid to merge with Assura PHP has already paid out 3.55p per share in dividends in 2025 and the next quarterly dividend of 1.775p per share will be paid on August 15. Analysts expect it to pay 7p per share in total this year, slightly above the 6.9p it distributed in 2024. As such, 2025 is on course to be the 29th year in a row that PHP has lifted its dividend. 'It's our job to make sure we keep this progressive dividend policy that we've had in place for a long, long time now,' Davies said. PHP struck a £1.7 billion deal last month to merge with its bigger peer, Assura, which is also being circled by US private equity firms. Davies has used the prospect of higher dividends and improving rents and valuations as reasons that Assura shareholders should take his deal and retain exposure to the healthcare property sector. 'That has been our pitch: this is not the time to be selling out,' he said. • NHS landlord Primary Health steps up its battle for rival Assura Bjorn Zietsman, a property industry analyst at Panmure Liberum, said the latest trading update 'reinforces the strategic and financial rationale for PHP's offer for Assura'. PHP shares rose ¼p, or 0.3 per cent, to 96¾p.
