Dampier Port upgrade complete
Rio Tinto PLC
11 January 2008
Dampier Port capacity increase completed on time and on budget
11 January 2008
Rio Tinto's US$1.4 billion Dampier Port upgrade project in Western Australia has
been completed on time and on budget. Capacity at the iron ore port has
increased 90 per cent, from 74 million tonnes four years ago to a current
capacity of 140 million tonnes per year.
Sam Walsh, Rio Tinto Iron Ore's chief executive said, 'The expansion of Dampier
Port is another testimony to the ability of our teams to bring large projects to
fruition on time and on budget.
'We are investing heavily to help Rio Tinto take advantage of the strong demand
growth in the global market, particularly in China. With our studies of the
expansion to 320Mtpa capacity in the Pilbara, and the Simandou project in
Guinea, West Africa, this aggressive ramping up of production to meet that
growing demand is set to continue.'
The project achieved a significant milestone with over five million work
man-hours free of lost time injuries, and during peak construction Dampier
Operations also managed to achieve record tonnages of shipments.
The upgrade was conducted in two phases. Phase A took annual port capacity from
74 million tonnes to 116 million tonnes and Phase B to the current capacity of
140 million tonnes, comprising Parker Point 94 million tonnes and East
Intercourse Island 46 million tonnes.
The installation of two new ship loaders at the Parker Point wharf allows two
vessels to be loaded simultaneously and a 600-metre extension of the wharf
allows up to four vessels to be berthed at the one time, reducing ship waiting
time.
First iron ore from the new Hope Downs joint venture mine was carried by train
to Dampier Port in December 2007, ready for shipment as part of Rio Tinto Iron
Ore's new product, Pilbara Blend.
Construction of the US$1 billion Hope Downs project was completed in December
2007, three months ahead of schedule. Earlier, in August 2007 a further US$350
million was committed to expand the mine's annual capacity from 22 million
tonnes to 30 million tonnes. In December 2007, Rio Tinto announced a US$71
million feasibility study to assess the Hope Downs 4 deposit as an extension of
the existing Hope Downs Joint Venture.
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, 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.
Forward-Looking Statements
This announcement includes 'forward-looking statements' within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements other than
statements of historical facts included in this announcement, including, without
limitation, those regarding Rio Tinto's financial position, business strategy,
plans and objectives of management for future operations (including development
plans and objectives relating to Rio Tinto's products, production forecasts and
reserve and resource positions), are forward-looking statements. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of
Rio Tinto, or industry results, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements.
Such forward-looking statements are based on numerous assumptions regarding Rio
Tinto's present and future business strategies and the environment in which Rio
Tinto will operate in the future. Among the important factors that could cause
Rio Tinto's actual results, performance or achievements to differ materially
from those in the forward-looking statements include, among others, levels of
demand and market prices, the ability to produce and transport products
profitably, the impact of foreign currency exchange rates on market prices and
operating costs, operational problems, political uncertainty and economic
conditions in relevant areas of the world, the actions of competitors,
activities by governmental authorities such as changes in taxation or regulation
and such other risk factors identified in Rio Tinto's most recent Annual Report
on Form 20-F filed with the United States Securities and Exchange Commission
(the 'SEC') or Form 6-Ks furnished to the SEC. Forward-looking statements
should, therefore, be construed in light of such risk factors and undue reliance
should not be placed on forward-looking statements. These forward-looking
statements speak only as of the date of this announcement. Rio Tinto expressly
disclaims any obligation or undertaking (except as required by applicable law,
the City Code on Takeovers and Mergers (the 'Takeover Code'), the UK Listing
Rules, the Disclosure and Transparency Rules of the Financial Services Authority
and the Listing Rules of the Australian Securities Exchange) to release publicly
any updates or revisions to any forward-looking statement contained herein to
reflect any change in Rio Tinto's expectations with regard thereto or any change
in events, conditions or circumstances on which any such statement is based.
Nothing in this announcement should be interpreted to mean that future earnings
per share of Rio Tinto plc or Rio Tinto Limited will necessarily match or exceed
its historical published earnings per share.
Subject to the requirements of the Takeover Code, none of Rio Tinto, any of its
officers or any person named in this announcement with their consent or any
person involved in the preparation of this announcement makes any representation
or warranty (either express or implied) or gives any assurance that the implied
values, anticipated results, performance or achievements expressed or implied in
forward-looking statements contained in this announcement will be achieved.
For further information, please contact:
Media Relations, Australia Media Relations, London
Ian Head Christina Mills
Office: +61 (0) 3 9283 3620 Office: +44 (0) 20 8080 1306
Mobile: +61 (0) 408 360 101 Mobile: +44 (0) 7825 275 605
Amanda Buckley Nick Cobban
Office: +61 (0) 3 9283 3627 Office: +44 (0) 20 8080 1305
Mobile: +61 (0) 419 801 349 Mobile: +44 (0) 7920 041 003
Media Relations, Americas
Nancy Ives
Mobile: +1 619 540 3751
Investor Relations, Australia Investor Relations, London
Dave Skinner Nigel Jones
Office: +61 (0) 3 9283 3628 Office: +44 (0) 20 7781 2049
Mobile: +61 (0) 408 335 309 Mobile: +44 (0) 7917 227365
Simon Ellinor David Ovington
Office: +61 (0) 7 3867 1068 Office: +44 (0) 20 7781 2051
Mobile: +61 (0) 439 102 811 Mobile: +44 (0) 7920 010 978
Investor Relations, North America
Jason Combes
Office: +1 (0) 801 685 4535
Mobile: +1 (0) 801 558 2645
Email: questions@riotinto.com
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 Exchange