18th Mar 2008 07:03
Rio Tinto PLC18 March 2008 Yarwun Refinery and expansion meet increasing global alumina demand 18 March 2008 Rio Tinto Alcan is firmly positioned to meet growing global demand for alumina,with its Yarwun alumina refinery achieving record performance in November andDecember, and with significant progress being made on the refinery expansionproject. Expansion work on the Yarwun alumina refinery, near Gladstone, Queensland isprogressing on budget and is on track for its first shipment of alumina in thesecond half of 2010. The US$1.8 billion project, announced in July 2007, willmore than double annual production of the refinery, taking output from 1.4million tonnes to 3.4 million tonnes by 2011. The expansion project includes a gas-based 160 MW cogeneration plant which willreduce CO2 emissions per tonne of alumina by 35 per cent relative to coal. "In the eight months since the expansion project began, engineering isapproaching 25 per cent completion with over US$900 million committed by the endof February 2008," Project Director Keith Nugent said. "There have been no lost time injuries on the project, with more than 400,000hours worked (as at 29 February 2008) with a current workforce of just over 300on site. We expect to commence our first major concrete pour at the end ofMarch 2008", he said. On completion, the expanded refinery, at 3.4 million tonnes per year, willproduce about four per cent of the total global alumina demand. Rio Tinto Alcan Chief Operating Officer - Pacific, Bauxite and Alumina, AlistairField said the refinery was performing strongly, with recent production the bestsince the refinery began operating. "Since implementing a number of process enhancements in October 2007 the planthas delivered record operating performance and further improvements have beenidentified to exceed nameplate capacity in 2008," Mr Field said. "Rio Tinto has a defined pathway to become the largest producer of alumna, andwe will pursue this, while retaining our focus on excellence in health, safetyand environmental performance." With increased production at Yarwun, and expansion of the Gove refinery, RioTinto Alcan will double its Australian alumina capacity by 2015. About Rio Tinto Rio Tinto is a leading international mining group headquartered in the UK,combining Rio Tinto plc, a London listed company, and Rio Tinto Limited, whichis 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, Australia Media Relations, LondonDiane Collier Christina MillsOffice: +61 (0) 7 3867 1665 Office: +44 (0) 20 7781 1154Mobile: +61 (0) 408 378 749 Mobile: +44 (0) 7825 275 605Amanda Buckley Nick CobbanOffice: +61 (0) 3 9283 3627 Office: +44 (0) 20 7781 1138Mobile: +61 (0) 419 801 349 Mobile: +44 (0) 7920 041 003 Media Relations, Americas Media Relations, CanadaNancy Ives Stefano BertolliMobile: +1 619 540 3751 Office: +1 514 848 8151 Investor Relations, Australia Investor Relations, LondonDave Skinner Nigel JonesOffice: +61 (0) 3 9283 3628 Office: +44 (0) 20 7781 2049Mobile: +61 (0) 408 335 309 Mobile: +44 (0) 7917 227365Simon Ellinor David OvingtonOffice: +61 (0) 7 3867 1607 Office: +44 (0) 20 7781 2051Mobile: +61 (0) 439 102 811 Mobile: +44 (0) 7920 010 978 Investor Relations, North AmericaJason CombesOffice: +1 (0) 801 685 4535Mobile: +1 (0) 801 558 2645 Email: [email protected] Website: www.riotinto.comHigh 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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