10th Apr 2006 08:25
Rio Tinto PLC10 April 2006 Simandou mining concession granted to Rio Tinto Rio Tinto, through its wholly owned local subsidiary SIMFER SA, has been granteda Mining Concession by the Government of Guinea for development of the Simandouiron ore project in West Africa. Rio Tinto has been exploring and evaluating the iron ore potential of Simandouunder exploration licences granted in 1997. Rio Tinto Iron Ore is currentlyworking on a pre-feasibility study for the Pic de Fon deposit within theSimandou Concession. Note to editors: • Technical studies on the Simandou Concession are expected to lead to an investment decision by mid 2008 as agreed with the Government. To date, Rio Tinto has spent over US$30 million on this prospect. • Rio Tinto is studying the feasibility of a Transguinean transport system for the export of ore from Simandou. To this end, the transport system is part of a study commissioned by the Transport Committee composed of Rio Tinto, EuroNimba and the Government. A consulting contractor has been appointed to carry out the evaluation of Transguinean transport options. • Rio Tinto is negotiating the possibility of selling a five per cent share in the project to the International Finance Corporation (IFC), part of the World Bank Group. The Government of Guinea has a right to acquire a 20 per cent share (pro rata from other shareholders) on commercial terms when a construction decision is made. For further information, please contact: LONDON AUSTRALIA Media Relations Media RelationsHugh Leggatt Ian HeadOffice: +44 (0) 20 7753 2273 Office: +61 (0) 3 9283 3620Mobile: +44 (0) 7764 369 977 Mobile: +61 (0) 408 360 101 Investor Relations Investor Relations Nigel Jones Dave SkinnerOffice: +44 (0) 20 7753 2401 Office: +61 (0) 3 9283 3628Mobile: +44 (0) 7917 227 365 Mobile: +61 (0) 408 335 309 David Ovington Susie CreswellOffice: +44 (0) 20 7753 2326 Office: +61 (0) 3 9283 3639Mobile: +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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