16th Mar 2006 08:21
Rio Tinto PLC16 March 2006 Hope Downs mine development application submitted Following approval by the respective Boards of the Hope Downs Joint Venture, theJoint Venture has lodged a development application for its iron ore project withthe Western Australian government. Subject to government approval, the Hope Downs project will be developed by RioTinto under a 50:50 unincorporated joint venture with Hancock Prospecting PtyLtd. Rio Tinto reached agreement in July 2005 to purchase a 50 per centinterest in the project. Rio Tinto will manage the development and ongoing operation of the assetssubject to a Management Committee comprising 50 per cent Rio Tinto Iron Ore and50 per cent Hancock Prospecting representatives. The project will use PilbaraIron's managed port, rail and power infrastructure. Rio Tinto Iron Ore chief executive Sam Walsh said that Rio Tinto was ready tobegin the development of the Hope Downs project as soon as WA governmentapprovals are in place. "The Hope Downs project will be one of the most significant mine developments inRio Tinto Iron Ore's 40 year history. We will fast track its development andbring the deposit to market in the shortest time possible to meet current strongmarket demand," Mr Walsh said. "We have been working closely with the Hancock Prospecting board to put allaspects of the project in place, including integrating the railway line into ourexisting Pilbara Iron rail network. We have also used proven mining methodologyfrom our West Angelas mine as the engineering model for Hope Downs. "We will continue to draw on the combined strengths of the joint venture tobring this project to fruition." The Hope Downs 1, 2 and 3 iron ore deposits comprise Marra Mamba and Brockmantype iron ores and are similar in quality to West Angelas ore. For further information, please contact: LONDON AUSTRALIA Media Relations Media Relations Hugh Leggatt Ian Head Office: +44 (0) 20 7753 2273 Office: +61 (0) 3 9283 3620 Mobile: +44 (0) 7764 369 977 Mobile: +61 (0) 408 360 101 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 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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