22nd May 2006 08:40
Rio Tinto PLC22 May 2006 Iron ore price settlement Hamersley Iron has today reached agreement with POSCO, on the price forHamersley lump iron ore deliveries for the contract year commencing 1 April2006. Under this agreement, the price of lump ore will increase by 19 per cent. Sam Walsh, Chief Executive of Rio Tinto's Iron Ore Group, said, "This agreementwith POSCO, the world's fourth largest steelmaker, reflects the long-standingrelationship between our two companies." "This settlement confirms the tightness of the iron ore market and the verystrong demand for Australian iron ore," he said. For further information, please contact: LONDON AUSTRALIA Media Relations Media Relations Nick Cobban Ian Head Office: +44 (0) 20 7753 2305 Office: +61 (0) 3 9283 3620 Mobile: +44 (0) 7920 041 003 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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