9th Jan 2007 07:01
Rio Tinto PLC09 January 2007 Clermont Coal Mine to proceed Rio Tinto and its joint venture partners have approved the development of theUS$750 million (A$950 million) Clermont Mine, in Central Queensland, located 15kilometres south east of Rio Tinto's Blair Athol Mine. Rio Tinto chief executive Energy, Preston Chiaro said the Clermont Mine will bebrought into production to replace the highly successful Blair Athol Mine,taking advantage of its existing infrastructure and market position. "Even during this current time of pressure on capital projects, the ClermontMine is a very attractive investment and will operate in the lowest costquartile of Australian thermal coal producers," Mr Chiaro said. "When completed, the Clermont Mine will produce 12.2 million tonnes of highquality thermal coal each year, supplying Japanese power utilities and othercustomers. The mine is expected to have a life of about 17 years at thisproduction rate. First coal shipments are expected in the second quarter of2010, with full capacity being reached in 2013," he said. Rio Tinto Coal Australia's managing director Douglas Ritchie said the Clermontmine will employ 400 people in the construction phase and approximately 380during operations. "As production at the Blair Athol Mine ramps down, Clermont will begin replacingthis capacity, ensuring a seamless transition for our customers," Mr Ritchiesaid. Rio Tinto's current joint venture partners in the Clermont open cut minedevelopment are Mitsubishi Development Pty Ltd (34.9 per cent), and J-PowerAustralia Pty Ltd (15 per cent). JCD Australia Pty Ltd will take a 3.5 per centinterest in the joint venture later this month, resulting in MitsubishiDevelopment Pty Ltd's interest reducing to 31.4 per cent. The investment issubject to obtaining all necessary governmental approvals. For further information, please contact: LONDON AUSTRALIA Media Relations Media RelationsNick Cobban Ian HeadOffice: +44 (0) 20 7753 2305 Office: +61 (0) 3 9283 3620Mobile: +44 (0) 7920 041 003 Mobile: +61 (0) 408 360 101 Investor Relations Investor RelationsNigel Jones Dave SkinnerOffice: +44 (0) 20 7753 2401 Office: +61 (0) 3 9283 3628Mobile: +44 (0) 7917 227 365 Mobile: +61 (0) 408 335 309 David Ovington Susie CreswellOffice: +44 (0) 20 7753 2326 Office: +61 (0) 3 9283 3639Mobile: +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:
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