Oyu Tolgoi management team
Rio Tinto PLC
12 February 2008
Rio Tinto strengthens Oyu Tolgoi management team
12 February 2008
Rio Tinto chief executive Tom Albanese today announced that Keith Marshall has
been appointed to the Oyu Tolgoi project team as managing director of Ivanhoe
Mines Mongolia, Inc. Keith will be responsible for developing the overall
project and will take a leading role in the ongoing Investment Agreement
negotiations with the Mongolian Government.
Keith is currently managing director of Palabora Mining Company in South Africa
where he successfully took the underground from an advanced project stage to a
stable operation that consistently achieves production rates in excess of the
original design capacity. Keith has had a long and successful career with Rio
Tinto focused on project management and operations, including at Greens Creek in
Alaska, and also in South America.
Oyu Tolgoi is owned by Ivanhoe Mines Ltd., in which Rio Tinto currently holds a
10 per cent interest. Oyu Tolgoi is one of four of the largest undeveloped
copper projects in the world in which Rio Tinto has an interest. It is currently
scheduled to come into production in 2011 and reach production levels of 440,000
tonnes of copper and 320,000 ounces of gold per year.
Oyu Tolgoi is well positioned to the growing Asian copper markets. The project
will also bring substantial benefits to the local community and the people of
Mongolia. Keith Marshall's experience in both copper and in developing countries
will be invaluable as the project moves through the negotiations with the
Mongolian Government and the finalisation of community and training and
employment programmes. Rio Tinto's and Ivanhoe's objective is to develop Oyu
Tolgoi in a sustainable, mutually beneficial manner for their shareholders and
for 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 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.
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