Rio Tinto PLC
16 December 2003
Rio Tinto and Coal & Allied agree new management contract
Rio Tinto and Coal & Allied (Rio Tinto 75.7 per cent) have agreed to combine
Coal & Allied corporate and service functions with those of Pacific Coal. Under
this arrangement, Pacific Coal (Rio Tinto 100 per cent) will be renamed Rio
Tinto Coal Australia. Rio Tinto Coal Australia will manage both Pacific Coal's
existing assets, as well as Coal & Allied's assets in the Hunter Valley under a
management services agreement providing for a centralised management structure
under which costs will be shared.
Both businesses will be managed from a single corporate office based in
Brisbane. This will result in a reduction in the number of management,
corporate and administrative positions in Coal & Allied and Pacific Coal,
significantly reducing head office costs.
The new management arrangements will take effect from 1 February 2004 and will
be implemented progressively. Dr Grant Thorne, currently managing director of
Pacific Coal, will be the managing director of Rio Tinto Coal Australia and is
intended to be appointed as the managing director of Coal & Allied with effect
from 1 February 2004. Mr Gary Goldberg, currently managing director of Coal &
Allied, will assume another senior executive role within Rio Tinto from the
middle of February 2004.
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
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