Rio Tinto Minerals recently announced a significant price increase for its refined borate, talc and chlorite products. Price increases are required to partially offset the effect of far greater increases in energy, raw material and transportation costs. Price increases will vary by product line, reaching double digits for some products. Price increases are in effect immediately for Rio Tinto Minerals’ refined borate products, sold under the 20 Mule Team Borax brand, as well as talc products sold under the Luzenac brand.
“Record-breaking commodity and fuel prices affect every aspect of our business, from mining and processing to packaging and shipping. One of the key drivers behind bringing three industrial minerals companies together this year to form Rio Tinto Minerals was to streamline systems and reduce costs. Despite our success, it is still necessary to raise prices to offset escalating and uncontrollable costs while continuing to invest in the new capacity, technical support and service level that set us apart from our competitors,” said Bob Graham, Rio Tinto Minerals’ chief commercial officer.
The company’s website is located at www.riotinto.com