Rio Tinto plc is a multinational group engaged in the exploration, mining and processing of mineral resources. The company mines copper, gold, iron ore, bauxite, lead, zinc, silver, coal, uranium, borax, titanium dioxide, talc, diamonds and zircon. It has 30% stake in Chile's Escondida copper mine, and has numerous exploration ventures throughout Latin America, including the Amargosa Orbit bauxite project, in Brazil's Bahia state, and La Granja copper project in Peru's Cajamarca region – the world's ninth largest undeveloped copper resource. Rio Tinto was incorporated in 1873 and is based in London, UK. In June 2016, the company announced a new organizational structure to drive further efficiencies and optimize its performance. Aiming to align its assets with the new business strategy, Rio Tinto subdivided them into four product groups: Aluminum, Copper and Diamonds, Energy and Minerals and Iron Ore, and an extra Growth and Innovation group, which will focus on future assets and technical support.