Rio Tinto agrees Heads of Agreement to sell

RNS Number : 7510N

Rio Tinto PLC

28 October 2016

 

Rio Tinto agrees Heads of Agreement to sell its stake in the Simandou project to Chinalco

28 October 2016

Rio Tinto and Chinalco have signed a non-binding agreement to sell Rio Tinto's entire stake in the Simandou project in Guinea to Chinalco. The Heads of Agreement sets out the proposed principal terms of the sale with the aim of signing a binding agreement within six months.

Rio Tinto will receive payments of $1.1-1.3 billion based on the timing of the development of the project. The initial payment for shares will commence at the time of first commercial production, on a per tonne basis.

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Media Relations, EMEA/Americas Illtud Harri T [phone] M [phone] David Outhwaite T [phone] M [phone] David Luff T [phone] M [phone] Investor Relations, EMEA/Americas John Smelt T [phone] M [phone] David Ovington T [phone] M [phone] Nick Parkinson T [phone] M [phone]	Media Relations, Australia/Asia Ben Mitchell T [phone] M [phone] Bruce Tobin T [phone] M [phone] Matthew Klar T [phone] M [phone] Investor Relations, Australia/Asia Natalie Worley T [phone] M [phone] Rachel Storrs T [phone] M [phone] Galina Rogova T [phone] M [phone]
Rio Tinto plc 6 St James's Square London SW1Y 4AD United Kingdom T [phone] Registered in England No. 719885	Rio Tinto Limited 120 Collins Street Melbourne 3000 Australia T [phone] Registered in Australia ABN 96 004 458 404

 

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