1st Feb 2007 07:02
Rio Tinto PLC01 February 2007 Rio Tinto continues iron ore port expansions with Cape Lambert approval Rio Tinto today announced a further expansion of its iron ore export capacity inthe Pilbara region of Western Australia. Nameplate annual capacity at CapeLambert port will be increased from 55 to 80 million tonnes for an investment ofUS$860 million (Rio Tinto share US$456 million). Following completion of the expansion scheduled for the fourth quarter of 2008,Rio Tinto's mine, rail and port capacity in the Pilbara will be matched, andcapable of exporting 220 million tonnes per year. The port at Cape Lambert is owned by Robe River Iron Associates and is operatedby Pilbara Iron, a subsidiary of Rio Tinto. Rio Tinto Iron Ore chief executive Sam Walsh said, "The Cape Lambert expansion,our third recent port expansion, will allow Rio Tinto to continue to maximiseits production from the Pilbara, retaining its position as Australia's leadingiron ore producer and a major global player." Since 2003, Rio Tinto has completed the first stage of an upgrade to its ParkerPoint port in Dampier which increased annual capacity from 74 to 116 milliontonnes. Work is continuing on the second stage at Parker Point, which by late2007 will increase capacity at Dampier to 140 million tonnes a year. A further US$130 million will be invested in sustaining and environmentalcapital works at the Cape Lambert port to support the increased levels ofproduction. The Cape Lambert upgrade brings Rio Tinto's expenditure in the Pilbara oninfrastructure projects and facilities development close to US$5 billion since2003. These projects continue to be completed on time and within budget. The Cape Lambert project is subject to relevant government approvals. Note to Editors Robe River Iron Associates is owned as follows: Rio Tinto 53 per cent, MitsuiIron Ore Development 33 per cent, Nippon Steel Australia 10.5 per cent andSumitomo Metal Australia 3.5 per cent. For further information, please contact: LONDON AUSTRALIA Media Relations Media Relations Nick Cobban Ian Head Office: +44 (0) 20 8080 1305 Office: +61 (0) 3 9283 3620 Mobile: +44 (0) 7920 041 003 Mobile: +61 (0) 408 360 101 Christina Mills Office: +44 (0) 20 8080 1306 Mobile: +44 (0) 7825 275 605 Investor Relations Investor Relations Nigel Jones Dave Skinner Office: +44 (0) 20 7753 2401 Office: +61 (0) 3 9283 3628 Mobile: +44 (0) 7917 227 365 Mobile: +61 (0) 408 335 309 David Ovington Susie Creswell Office: +44 (0) 20 7753 2326 Office: +61 (0) 3 9283 3639 Mobile: +44 (0) 7920 010 978 Mobile: +61 (0) 418 933 792 Website: www.riotinto.com High resolution photographs available at: www.newscast.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Rio Tinto