12th Feb 2008 16:20
Rio Tinto PLC12 February 2008 Rio Tinto strengthens Oyu Tolgoi management team 12 February 2008 Rio Tinto chief executive Tom Albanese today announced that Keith Marshall hasbeen appointed to the Oyu Tolgoi project team as managing director of IvanhoeMines Mongolia, Inc. Keith will be responsible for developing the overallproject and will take a leading role in the ongoing Investment Agreementnegotiations with the Mongolian Government. Keith is currently managing director of Palabora Mining Company in South Africawhere he successfully took the underground from an advanced project stage to astable operation that consistently achieves production rates in excess of theoriginal design capacity. Keith has had a long and successful career with RioTinto focused on project management and operations, including at Greens Creek inAlaska, and also in South America. Oyu Tolgoi is owned by Ivanhoe Mines Ltd., in which Rio Tinto currently holds a10 per cent interest. Oyu Tolgoi is one of four of the largest undevelopedcopper projects in the world in which Rio Tinto has an interest. It is currentlyscheduled to come into production in 2011 and reach production levels of 440,000tonnes of copper and 320,000 ounces of gold per year. Oyu Tolgoi is well positioned to the growing Asian copper markets. The projectwill also bring substantial benefits to the local community and the people ofMongolia. Keith Marshall's experience in both copper and in developing countrieswill be invaluable as the project moves through the negotiations with theMongolian Government and the finalisation of community and training andemployment programmes. Rio Tinto's and Ivanhoe's objective is to develop OyuTolgoi in a sustainable, mutually beneficial manner for their shareholders andfor the Mongolian people. 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, Australia Christina Mills Amanda Buckley Office: +44 (0) 20 8080 1306 Office: +61 (0) 3 9283 3627 Mobile: +44 (0) 7825 275 605 Mobile: +61 (0) 419 801 349 Nick Cobban Ian Head Office: +44 (0) 20 8080 1305 Office: +61 (0) 3 9283 3620 Mobile: +44 (0) 7920 041 003 Mobile: +61 (0) 408 360 101 Media Relations, Americas Nancy Ives Mobile: +1 619 540 3751 Investor Relations, London Investor Relations, Australia Nigel Jones Dave Skinner Office: +44 (0) 20 7781 2049 Office: +61 (0) 3 9283 3628 Mobile: +44 (0) 7917 227365 Mobile: +61 (0) 408 335 309 David Ovington Simon Ellinor Office: +44 (0) 20 7781 2051 Office: +61 (0) 7 3867 1607 Mobile: +44 (0) 7920 010 978 Mobile: +61 (0) 439 102 811 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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