Rio Tinto Borax has announced a significant price increase across all product lines to help offset the effect of far greater increases in energy, raw material and transportation costs. Percentage price increases will rise by double digits, vary by product line and take effect immediately. "Prices over the last several years have not kept pace with the effects of inflation, driven primarily by increases for energy, freight and other input prices hitting record highs," said Bob Graham, Borax's chief commercial officer, adding that although Borax had absorbed most of these unprecedented increases in the past few years it could not continue to shoulder the burden alone, while continuing to invest in new capacity, technical support and services. Borax supplies nearly half the world's demand for refined borates and serves customers in nearly 100 countries.
