Rio Tinto PLC
13 January 2004
Rio Tinto and Robe River progress on Pilbara cooperation
Rio Tinto has reached agreement in principle with the Robe River Joint Venture
Participants to allow for closer cooperation between the iron ore operations of
Hamersley Iron and Robe in the Pilbara region of Western Australia.
Under the agreement, the existing separate structures of Hamersley and Robe will
continue. Each business will continue to have its own decision making processes
and will make its own independent decisions. In particular:
- there will be no change to the ownership of Robe or Hamersley Iron
or to the ownership of their respective assets;
- Robe River Mining Company will continue to employ its own managing
director and operations general manager and continue to be the manager of the
Robe River joint venture; and
- Robe River Limited will continue to be responsible for the
management and marketing of Robe's iron ore sales.
In addition to preserving the important structural elements above, the agreement
allows for:
- continued cooperation and common usage of rail infrastructure;
- closer cooperation and common usage of infrastructure areas such as
port and power; and
- closer cooperation in relation to the management of non
infrastructure assets (including mobile and other mining equipment) and site
and corporate services.
New entities will be formed to facilitate the implementation of the agreement.
The entities will collectively be referred to as Pilbara Iron. Pilbara Iron will
be responsible for operating and maintaining all of Hamersley's and Robe's rail,
port, power and non-infrastructure assets as well as providing corporate and
site services.
Rio Tinto and the Robe River Joint Venture participants are working towards
final documentation of the agreement. Implementation will be subject to
obtaining any necessary Government approvals.
For further information, please contact:
LONDON AUSTRALIA
Media Relations Media Relations
Lisa Cullimore Ian Head
Office: +44 (0) 20 7753 2305 Office: +61 (0) 3 9283 3620
Mobile: +44 (0) 7730 418 385 Mobile: +61 (0) 408 360 101
Investor Relations Investor Relations
Peter Cunningham Dave Skinner
Office: +44 (0) 20 7753 2401 Office: +61 (0) 3 9283 3628
Mobile: +44 (0) 7711 596 570 Mobile: +61 (0) 408 335 309
Richard Brimelow Daphne Morros
Office: +44 (0) 20 7753 2326 Office: +61 (0) 3 9283 3639
Mobile: +44 (0) 7753 783 825 Mobile: +61 (0) 408 360 764
Website: www.riotinto.com
This information is provided by RNS
The company news service from the London Stock Exchange IF
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.