8th Feb 2008 07:00
Rio Tinto PLC08 February 2008 Rio Tinto to invest in future of Boyne Smelters 8 February 2008 Rio Tinto (59.4%) and its Joint Venture partners (40.6%) will spendapproximately US$617 million on two projects which will modernise and extend thelife of the Boyne Island aluminium smelters. The first project, construction of a new baking furnace, will reduce onsitegreenhouse gas emissions, while the second project, which includes overheadcrane replacement and a crane runway upgrade, will result in a more efficientcrane/alumina transport system. The projects will be built approximately overthree years. "Boyne Smelters is a key asset for Rio Tinto Alcan. This upgrade will underpinthe successful operation of the smelter and help to ensure the continuingreliable supply of high quality aluminium to our global customers," XiaolingLiu, President, Primary Metal, Pacific, Rio Tinto Alcan said. "At the same time, this installation of more efficient, state of the arttechnology will help to reduce our greenhouse emissions from the carbon bake byapproximately 20,000 tonnes CO2-e annually." "This is a very exciting modernisation project that will extend the life of ourasset and improve efficiencies and we are very pleased with the investment andsupport we have received from our Joint Venture partners," Ms Liu said. "With the construction of Carbon Baking Furnace 4 (CBF 4), two existing carbonbake furnaces will be replaced with a new furnace of open bake technology," MsLiu added. With this crane upgrade, runways will be replaced, modernised cell tendingassemblies installed and a new alumina distribution system installed to supplyeach cell independently of crane operations. The crane optimisation project isdesigned to improve the safety of our work environment. Boyne Smelters was opened in 1982 and in 2007 achieved a record annualproduction, making it one of the largest smelters in Australia. 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 TintoLimited, which is 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, London Media Relations, AustraliaChristina Mills Ian HeadOffice: +44 (0) 20 7781 1154 Office: +61 (0) 3 9283 3620Mobile: +44 (0) 7825 275 605 Mobile: +61 (0) 408 360 101 Nick Cobban Amanda BuckleyOffice: +44 (0) 20 7781 1138 Office: +61 (0) 3 9283 3627Mobile: +44 (0) 7920 041 003 Mobile: +61 (0) 419 801 349 Media Relations, USNancy IvesMobile: +1 619 540 3751 Investor Relations, London Investor Relations, AustraliaNigel Jones Dave SkinnerOffice: +44 (0) 20 7781 2049 Office: +61 (0) 3 9283 3628Mobile: +44 (0) 7917 227 365 Mobile: +61 (0) 408 335 309 David Ovington Simon EllinorOffice: +44 (0) 20 7781 2051 Office:+ 61 (0) 7 3867 1068Mobile: +44 (0) 7920 010 978 Investor Relations, North AmericaJason CombesOffice: +1 (0) 801 685 4535Mobile: +1 (0) 801 558 2645 Email: [email protected] Website: www.riotinto.comHigh 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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