26th May 2009 07:00
Rio Tinto announces 2009 iron ore price settlement
26 May 2009
Rio Tinto subsidiary Hamersley Iron has today reached agreement with Japan's Nippon Steel Corporation on the price for Hamersley iron ore deliveries for the contract year commencing 1 April 2009.
Under this agreement, the new prices for Hamersley products will be:
Pilbara Blend Fines
US cents 97 per dry metric tonne unit
Yandicoogina Fines
US cents 97 per dry metric tonne unit
Pilbara Blend Lump
US cents 112 per dry metric tonne unit
Rio Tinto Iron Ore chief executive, Sam Walsh said: "Rio Tinto is pleased to reach this agreement today with Nippon Steel Corporation, Japan's leading steelmaker.
"We believe this settlement is a realistic outcome for both parties - one that reflects the global market for iron ore and the current challenging market conditions facing our customers."
|
US cents per dry metric tonne unit |
||
|
2008 |
2009 |
|
|
Pilbara Blend Fines |
144.66 |
97 |
|
Yandicoogina Fines |
144.66 |
97 |
|
Pilbara Blend Lump |
201.69 |
112 |
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 Tinto Limited, which is listed on the Australian Securities Exchange.
Rio Tinto's business is finding, mining, and processing mineral resources. Major products 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 North America with significant businesses in South America, Asia, Europe and southern Africa.
For further information, please contact:
|
Media Relations, London Christina Mills Office: +44 (0) 20 8080 1306 Mobile: +44 (0) 7825 275 605 Nick Cobban Office: +44 (0) 20 8080 1305 Mobile: +44 (0) 7920 041 003 |
Media Relations, Australia Gervase Greene Office: +61 (0) 8 9327 2975 Mobile: +61 (0) 408 098 572 Amanda Buckley Office: +61 (0) 3 9283 3627 Mobile: +61 (0) 419 801 349 |
|
Media Relations, Americas Tony Shaffer Office: +1 202 393 0266Mobile: +1 202 256 3667 |
Media Relations, Canada Stefano Bertolli Office:: +1 (0) 514 848 8151 Mobile: +1 (0) 514 915 1800 |
|
Investor Relations, London Nigel Jones Office: +44 (0) 20 7781 2049 Mobile: +44 (0) 7917 227365 David Ovington Office: +44 (0) 20 7781 2051 Mobile: +44 (0) 7920 010 978 Investor Relations, North America Jason Combes Office: +1 (0) 801 204 2919 Mobile: +1 (0) 801 558 2645 |
Investor Relations, Australia Dave Skinner Office: +61 (0) 3 9283 3628 Mobile: +61 (0) 408 335 309 Simon Ellinor Office: +61 (0) 7 3361 4365 Mobile: +61 (0) 439 102 811 |
Email:
Websites:
www.riotinto.com
www.riotintoironore.com
Related Shares:
Rio Tinto