Update on proposed iron ore p

RNS Number : 8128A

Rio Tinto PLC

15 October 2009

 



Rio Tinto and BHP Billiton update on proposed iron ore production joint venture 

15 October 2009 

On 5 June 2009, Rio Tinto and BHP Billiton signed a non-binding agreement to establish a production joint venture covering the entirety of both companies' Western Australian iron ore assets. 

Under the terms of the agreement up to 15 per cent of production was proposed to be sold by the joint venture, independent of Rio Tinto and BHP Billiton. 

Following discussions between the two companies, Rio Tinto and BHP Billiton have decided not to proceed with the joint venture marketing activity. As a result, all production from the proposed joint venture would be marketed separately by Rio Tinto and BHP Billiton.  

The two companies believe that this change will clarify the nature of the JV for customers and emphasise its focus on realising significant production and development synergies.

Rio Tinto and BHP Billiton are pleased with progress towards definitive JV agreements and expect to finalise these agreements on schedule.

About Rio Tinto 

Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and NYSE listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange.

Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, energy (coal and uranium), gold, industrial minerals (borax, titanium dioxide, salt, talc) and iron ore. Activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and southern Africa.

  For further information, please contact:

Rio Tinto media and investor relations   Media Relations, Australia  Tony Shaffer Office: [phone] Mobile: [phone] Media Relations, London  Nick Cobban Office: [phone] Mobile: [phone] Christina Mills Office: [phone] Mobile: [phone] Media Relations, Americas  Tony Shaffer Office: [phone] Mobile: [phone] Media Relations, Canada Stefano Bertolli Office: [phone] Mobile: [phone] Investor Relations, Australia Dave Skinner Office: [phone] Mobile: [phone] Simon Ellinor Office: [phone] Mobile: [phone] Investor Relations, London Mark Shannon Office: [phone] Mobile: [phone] David Ovington Office: [phone] Mobile: [phone] Investor Relations, North America Jason Combes Office: [phone] Mobile: [phone]	BHP Billiton media and investor relations   Media Relations, Australia Samantha Evans Office: [phone]  Mobile: [phone] Email: [e-mail]  Peter Ogden Office: [phone]  Mobile: [phone] Email: [e-mail]  Kelly Quirke Office: [phone]  Mobile: [phone] Email: [e-mail]  Media Relations, United Kingdom Illtud Harri Office: [phone] Mobile: [phone] Email: [e-mail] Media Relations, United States Ruban Yogarajah Office: US [phone] or UK [phone] Mobile: UK [phone] Email: [e-mail] Investor Relations, Australia Leng Lau Office: [phone]  Mobile: [phone] Email: [e-mail] Investor Relations, United Kingdom Andre Liebenberg  Office: [phone]  Mobile: [phone] Email: [e-mail] Investor Relations, South Africa Bronwyn Wilkinson  Office: [phone]  Mobile: [phone] Email: [e-mail] Investor Relations, United States Scott Espenshade Office: [phone]  Mobile: [phone] Email: [e-mail]
Rio Tinto Limited  120 Collins Street Melbourne 3000 Australia  T [phone] F [phone] Registered in Australia ABN 96 004 458 404   Rio Tinto plc 2 Eastbourne Terrace London W2 6LG United Kingdom T [phone] F [phone]	BHP Billiton Plc  Registration number 3196209 Registered in England and Wales Registered Office: Neathouse Place London SW1V 1BH United Kingdom Tel [phone] Fax [phone]   A member of the BHP Billiton group which is headquartered in Australia
Email:  [e-mail] Website:  www.riotinto.com	Further information on BHP Billiton can be found on our Internet site: www.bhpbilliton.com

 

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