Brief history of the London house, NM Rothschild & Sons

N M Rothschild and Sons specialised in the finance of mining companies*

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The Rothschilds, LBMA, and Gold

www.bibliotecapleyades.net/sociopolitica/esp_sociopol_rothschild03.htm

... negotiating gold lease terms for central banks and mining companies

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N M Rothschild & Sons

With Nathan’s death in July 1836, the City of London lost a financier whose name had become legendary in his own lifetime. However, N M Rothschild & Sonswould continue to prosper and grow at the centre of the London financial world, and his sons continued the business under the name N M Rothschild & Sons.

The business specialised in foreign loan issues, bullion trading and the finance of public utility companies, notably foreign railways, while maintaining in the first half of the nineteenth century a certain volume of merchant trade in commodities such as quicksilver, tobacco, sugar and cotton. The firm operated through a worldwide network of agents, among them August Belmont (New York, est. 1837), Weisweiller & Bauer (Madrid, est. 1835), Lionel Davidson (Valparaiso, est. 1843), and S Bleichröder (Berlin, documented from 1850).

The firm acquired the lease of the Royal Mint Refinery in 1852, refining bullion until the sale of the business in 1967. In the late nineteenth century N M Rothschild and Sons specialised in the finance of mining companies, notably De Beers, through the Exploration Company of which the bank was a founder, and also acted as bankers to the governments of Brazil, Chile and Egypt.

In January 2010, Nathaniel Philip Rothschild bought a substantial share of the Glencore mining and oil company's market capitalisation. He is also buying a large share of the aluminium mining company United Company RUSAL.[64]

During the 19th century, the Rothschilds controlled the Rio Tinto mining corporation, and to this day, Rothschild and Rio Tinto maintain a close business relationship.[65]

Rio Tinto is primarily organised into five operational businesses, divided by product type:[37]

• Rio Tinto Copper – copper and byproducts such as gold, silver, molybdenum, and sulphuric acid; future home of nickel operations if developed
• Rio Tinto Alcan – aluminium, bauxite and alumina
• Rio Tinto Energy – coal and uranium
• Rio Tinto Diamonds & Minerals – diamonds, industrial minerals such as borax, salt and gypsum and titanium dioxide
• Rio Tinto Iron Ore – iron ore and iron

In 2012, RIT Capital Partners announced it is to buy a 37 per cent stake in a Rockefeller family wealth advisory and asset management group. The deal, focusing on asset-management, marks the first time that these two well-known families have collaborated.[66] Commenting on the deal, David Rockefeller, a current patriarch of Rockefeller family, said: "The connection between our two families remains very strong."[67]

N M Rothschild & Sons Limited Key Developments