11th Jan 2008 08:44
Rio Tinto PLC11 January 2008 Dampier Port capacity increase completed on time and on budget 11 January 2008 Rio Tinto's US$1.4 billion Dampier Port upgrade project in Western Australia hasbeen completed on time and on budget. Capacity at the iron ore port hasincreased 90 per cent, from 74 million tonnes four years ago to a currentcapacity of 140 million tonnes per year. Sam Walsh, Rio Tinto Iron Ore's chief executive said, "The expansion of DampierPort is another testimony to the ability of our teams to bring large projects tofruition on time and on budget. "We are investing heavily to help Rio Tinto take advantage of the strong demandgrowth in the global market, particularly in China. With our studies of theexpansion to 320Mtpa capacity in the Pilbara, and the Simandou project inGuinea, West Africa, this aggressive ramping up of production to meet thatgrowing demand is set to continue." The project achieved a significant milestone with over five million workman-hours free of lost time injuries, and during peak construction DampierOperations also managed to achieve record tonnages of shipments. The upgrade was conducted in two phases. Phase A took annual port capacity from74 million tonnes to 116 million tonnes and Phase B to the current capacity of140 million tonnes, comprising Parker Point 94 million tonnes and EastIntercourse Island 46 million tonnes. The installation of two new ship loaders at the Parker Point wharf allows twovessels to be loaded simultaneously and a 600-metre extension of the wharfallows up to four vessels to be berthed at the one time, reducing ship waitingtime. First iron ore from the new Hope Downs joint venture mine was carried by trainto Dampier Port in December 2007, ready for shipment as part of Rio Tinto IronOre's new product, Pilbara Blend. Construction of the US$1 billion Hope Downs project was completed in December2007, three months ahead of schedule. Earlier, in August 2007 a further US$350million was committed to expand the mine's annual capacity from 22 milliontonnes to 30 million tonnes. In December 2007, Rio Tinto announced a US$71million feasibility study to assess the Hope Downs 4 deposit as an extension ofthe existing Hope Downs Joint Venture. About Rio Tinto Rio Tinto is a leading international mining group headquartered in the UK,combining Rio Tinto plc, a London listed company, and Rio Tinto Limited, whichis listed on the Australian Securities Exchange. Rio Tinto's business is finding, mining, and processing mineral resources. Majorproducts 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 NorthAmerica with significant businesses in South America, Asia, Europe and southernAfrica. Forward-Looking Statements This announcement includes "forward-looking statements" within the meaning ofSection 27A of the Securities Act of 1933, as amended, and Section 21E of theSecurities Exchange Act of 1934, as amended. All statements other thanstatements of historical facts included in this announcement, including, withoutlimitation, those regarding Rio Tinto's financial position, business strategy,plans and objectives of management for future operations (including developmentplans and objectives relating to Rio Tinto's products, production forecasts andreserve and resource positions), are forward-looking statements. Suchforward-looking statements involve known and unknown risks, uncertainties andother factors which may cause the actual results, performance or achievements ofRio Tinto, or industry results, to be materially different from any futureresults, performance or achievements expressed or implied by suchforward-looking statements. Such forward-looking statements are based on numerous assumptions regarding RioTinto's present and future business strategies and the environment in which RioTinto will operate in the future. Among the important factors that could causeRio Tinto's actual results, performance or achievements to differ materiallyfrom those in the forward-looking statements include, among others, levels ofdemand and market prices, the ability to produce and transport productsprofitably, the impact of foreign currency exchange rates on market prices andoperating costs, operational problems, political uncertainty and economicconditions in relevant areas of the world, the actions of competitors,activities by governmental authorities such as changes in taxation or regulationand such other risk factors identified in Rio Tinto's most recent Annual Reporton Form 20-F filed with the United States Securities and Exchange Commission(the "SEC") or Form 6-Ks furnished to the SEC. Forward-looking statementsshould, therefore, be construed in light of such risk factors and undue relianceshould not be placed on forward-looking statements. These forward-lookingstatements speak only as of the date of this announcement. Rio Tinto expresslydisclaims any obligation or undertaking (except as required by applicable law,the City Code on Takeovers and Mergers (the "Takeover Code"), the UK ListingRules, the Disclosure and Transparency Rules of the Financial Services Authorityand the Listing Rules of the Australian Securities Exchange) to release publiclyany updates or revisions to any forward-looking statement contained herein toreflect any change in Rio Tinto's expectations with regard thereto or any changein events, conditions or circumstances on which any such statement is based. Nothing in this announcement should be interpreted to mean that future earningsper share of Rio Tinto plc or Rio Tinto Limited will necessarily match or exceedits historical published earnings per share. Subject to the requirements of the Takeover Code, none of Rio Tinto, any of itsofficers or any person named in this announcement with their consent or anyperson involved in the preparation of this announcement makes any representationor warranty (either express or implied) or gives any assurance that the impliedvalues, anticipated results, performance or achievements expressed or implied inforward-looking statements contained in this announcement will be achieved. For further information, please contact: Media Relations, Australia Media Relations, London Ian Head Christina Mills Office: +61 (0) 3 9283 3620 Office: +44 (0) 20 8080 1306 Mobile: +61 (0) 408 360 101 Mobile: +44 (0) 7825 275 605 Amanda Buckley Nick Cobban Office: +61 (0) 3 9283 3627 Office: +44 (0) 20 8080 1305 Mobile: +61 (0) 419 801 349 Mobile: +44 (0) 7920 041 003 Media Relations, Americas Nancy Ives Mobile: +1 619 540 3751 Investor Relations, Australia Investor Relations, London Dave Skinner Nigel Jones Office: +61 (0) 3 9283 3628 Office: +44 (0) 20 7781 2049 Mobile: +61 (0) 408 335 309 Mobile: +44 (0) 7917 227365 Simon Ellinor David Ovington Office: +61 (0) 7 3867 1068 Office: +44 (0) 20 7781 2051 Mobile: +61 (0) 439 102 811 Mobile: +44 (0) 7920 010 978 Investor Relations, North America Jason Combes Office: +1 (0) 801 685 4535 Mobile: +1 (0) 801 558 2645 Email: [email protected] 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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