23rd Jun 2006 10:21
Rio Tinto PLC23 June 2006 The following release has been issued by Iron Ore Company of Canada (Rio Tinto58.7 per cent interest) Iron ore price settlement Montreal, Canada, June 22, 2006 The Iron Ore Company of Canada (IOC) has reached agreement with ThyssenKruppSteel AG on prices for IOC Carol Lake iron ore pellets and concentrates for2006. The price of Carol Lake Acid Limestone iron ore pellets will decrease by 3.5 percent from 2005 levels to US cents 115.86 per natural metric tonne unit. Pelletproducts account for about 80 per cent of IOC's production. The price of Carol Lake iron ore concentrate will increase by 17.3 per cent from2005 levels to US cents 78.25 per natural metric tonne unit. Concentratesaccount for the remaining 20 per cent of IOC's production. Sam Walsh, chairman of the Iron Ore Company of Canada and chief executive of RioTinto's Iron Ore group, said, "These price changes are in line with otherinternational price settlements in the European market and reflect changingfreight differentials." IOC is the largest manufacturer of iron ore pellets in Canada and its customerbase covers North American, European and Asian steel producers. The Companyoperates a mine, concentrator and a pelletizing plant in Labrador City,Newfoundland and Labrador, as well as port facilities located in Sept-Iles(Quebec). It also operates a 418 kilometre railroad that links the mine to theport. IOC has approximately 1700 employees and its major shareholder andoperator is the international mining group Rio Tinto, which has activities inmore than 40 countries throughout the world. Source: Michel Filion, Director Communications & Community Relations, Tel: +1 (514) 217 6253 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 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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