SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE
13A-16 OR 15D-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
January 2008
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Commission File Number: 001-10533
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Commission File Number: 000-20122 |
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Rio Tinto plc
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Rio Tinto Limited |
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ABN 96 004 458 404 |
(Translation of registrants name into English)
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(Translation of registrants name into English) |
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5 Aldermanbury Square,
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120 Collins Street |
London, EC2V 7HR, United Kingdom
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Melbourne, Victoria 3000, Australia |
(Address of principal executive offices)
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(Address of principal executive offices) |
Indicate by check mark whether the registrant files or will file annual reports under cover of
Form 20-F or Form 40-F:
Form 20-F þ Form 40-F o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(7): o
Indicate by check mark whether the registrant by furnishing the information contained in this
Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934.
Yes o No þ
If Yes is marked, indicate below the file number assigned to the registrant in connection with
Rule 12g3-2(b): 82-
TABLE OF CONTENTS
EXHIBITS
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99.1
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17 January 2008
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Presentation on Rio Tintos port infrastructure |
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99.2
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18 January 2008
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Presentation on Rio Tintos rail operations |
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99.3
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18 January 2008
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Press release announcing Rio
Tintos Chief Executives unveiling of vision for
mine of the future |
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99.4
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18 January 2008
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Presentations on Chinese development by Rio Tinto's Chief Economist, exploration opportunities by Rio Tinto's Head of Exploration and Rio Tintos outlook by Rio Tinto's Chief Executive |
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99.5
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18 January 2008
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Press release announcing Rio Tintos partnership with Komatsu to develop an autonomous haulage system |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have
duly caused this report to be signed on their behalf by the undersigned, thereunto duly
authorised.
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Rio Tinto plc |
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Rio Tinto Limited |
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(Registrant) |
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(Registrant) |
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By
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/s/ Ben Mathews
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By
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/s/ Ben Mathews |
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Name Ben Mathews |
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Name Ben Mathews |
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Title Secretary |
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Title Assistant Secretary |
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Date 18 January 2008 |
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Date 18 January 2008 |
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Exhibit 99.1
Iron ore
Pilbara media visit
15 18 January 2008 |
Cautionary statement
This presentation has been prepared by Rio Tinto plc and Rio Tinto Limited (Rio Tinto) and comprises the slides for a presentation concerning Rio Tinto. By reviewing/attending this presentation you agree to be bound by the following conditions.
Forward Looking Statements
This presentation 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 presentation, including, without limitation, those regarding Rio Tintos financial position, business strategy, plans and objectives of management for future operations (including development plans a
nd objectives relating to Rio Tintos 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 Tintos 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 Tintos actual results, performance or achievements to differ materially from those in the forward-looking statements include, among others, levels of production during any period, levels of demand and market prices, the ability to produce and tr
ansport 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 Tintos most recent Annual Report on Form 20-F filed with the United States Securities and Exchange Commission (the SEC) or For
m 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 presentation. 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 Fina
ncial 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 Tintos expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
Nothing in this presentation 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.
Information about BHP Billiton included in this presentation is based on public information which has not been independently verified. Certain statistical and other information about Rio Tinto included in this presentation is sourced from publicly available third party sources. As such it presents the views of those third parties, but may not necessarily correspond to the views held by Rio Tinto.
Directors Responsibility Statement:
The Directors of Rio Tinto plc and Rio Tinto Limited accept responsibility for the information contained in this presentation, except that the only responsibility accepted in respect of information relating to BHP Billito
n, which has been compiled from published sources, is to ensure that such information has been correctly and fairly reproduced and presented. Subject as aforesaid, to the best of the knowledge and belief of the Directors of Rio Tinto plc and Rio Tinto Limited (who have taken all reasonable care to ensure that such is the case), the information contained in this presentation is in accordance with the facts and does not omit anything likely to affect the import of such information.
Subject to the requirements of the Takeover Code, none of Rio Tinto, any of its officers or any person named in this presentation with their consent or any person involved in the preparation of this presentation 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 presentation will be achieved.
Subject to any continuing obligations under applicable law, 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, Rio Tinto expressly disclaims any obligation to disseminate, after the date of this presentation, any updates or revisions to any statements in this presentation to reflect any change in expectations or events, conditions or circumstances on which any such statem
ents are based.
Rio Tinto Pilbara media visit January 20082 |
Port infrastructure
Mike Spreadborough
General manager coastal operations Iron ore
17 January 2008
Rio Tinto Pilbara media visit January 20083 |
Rio Tintos Pilbara port infrastructure is world class
Parker Point Current port capacity is 195mtpa:
-Parker Point: 94mtpa
-EII: 46mtpa
-Cape Lambert: 55mtpa
All three terminals managed together as one port:
East Intercourse Island (EII)- Sharing of common support such as: Maintenance, Engineering, Safety and Scheduling
-Optimisation of ship queuing and tug fleet
-Balancing of ore production by product and grade
Cape Lambert through rail connections
-Shared learning and standardisation of processes.
Combined manning: ~800
Rio Tinto Pilbara media visit January 20084 |
Dampier: Two outstanding terminals in one location
East Intercourse Island
Total capacity of 140mtpa
5 berths, plus 1 lay-by berths
3 shiploaders and 3 car dumpers
Excellent maintenance free channel
Parker Point
with sheltered anchorage
Rio Tinto Pilbara media visit January 20085 |
Cape Lambert: world class terminal, with a number of expansion options
Current capacity of 55mtpa
-2 berths
-2 shiploaders and 2 car dumpers
-4mt of live stockpile capacity
Expansion to 80mtpa underway, with completion scheduled for Q1 2009 -berths expand to 4 with upgraded ship loaders
Ability to expand to 180mtpa, with the option of expanding further to 280mtpa
Excellent deep water access for bulk carriers in semi sheltered environment
Rio Tinto Pilbara media visit January 20086 |
Port operations
e l n n h a C i n g i p p S h
Anchorage hipping Channel S
Anchorage
47kmCape Lambert
Point Samson
EIIParker Point
DampierWickham
Karratha
Roebourne
Tom Price Mainline Railway
Deepdale Railway
Source: Rio Tinto
Rio Tinto Pilbara media visit January 20087 |
Annual shipping Dampier and Cape Lambert
of 9% 160ate r growth ual ann tive Cumula
120 Mt 80 40
0
2001 2002 2003 2004 2005 2006 2007 DampierCape Lambert
Source: Rio Tinto
Rio Tinto Pilbara media visit January 20088 |
Summary
Three shipping terminals managed as a single port system
-East Intercourse Island and Parker Point at Dampier
-Cape Lambert
Efficiencies and standardisation continue to be driven
-Common interface for maintenance, safety, scheduling, demand chain interface, marketing and shipping
-Further development of the one port model to enhance existing efficiencies
Operational efficiencies through introduction of the Pilbara Blend
Committed expansion program on time
-Dampier to 140mtpa now complete
-Cape Lambert to 80mtpa now underway
-Further expansion options at Cape Lambert are under study
Rio Tinto Pilbara media visit January 20089 |
Port Hedland inner harbour capacity constraints
320
280
108
240
annum
20018 per tonnes 160320
102
Million 120
80
92
40
0
InnerBHPB Public user OtherForecast Harbour existingberthBHPB channel productioncapacity capacity
Source: Port Hedland Port Authority Annual Report 2007, Alannah MacTiernan WA Minister for Planning and Infrastructure media statement (23 October 2007), BHP Billiton 12 December 2007 investor presentation, BHP Billiton October 2007 analyst site visit presentation
Rio Tinto Pilbara media visit January 200810 |
Exhibit 99.2
Iron ore
Pilbara media v,isit |
This presentation has been prepared by Rio Tinto plc and Rio Tinto Limited (Rio Tinto) and
comprises the slides for a presentation concerning Rio Tinto. By reviewing/attending this
presentation you agree to be bound by the following conditions. |
Forward Looking Statements |
· This presentation 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
presentation, including, without limitation, those regarding Rio Tintos financial position,
business strategy, plans and objectives of management for future operations (including
development plans and objectives relating to Rio Tintos 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 Tintos
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 Tintos actual results,
performance or achievements to differ materially from those in the forward-looking statements
include, among others, levels of production during any period, 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 Tintos 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 presentation. 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 Tintos expectations with regard
thereto or any change in events, conditions or circumstances on which any such statement is
based. |
· Nothing in this presentation 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. |
· Information about BHP Billiton included in this presentation is based on public information
which has not been independently verified. Certain statistical and other information about Rio
Tinto included in this presentation is sourced from publicly available third party sources. As
such it presents the views of those third parties, but may not necessarily correspond to the
views held by Rio Tinto. |
Directors Responsibility Statement: |
· The Directors of Rio Tinto plc and Rio Tinto Limited accept responsibility for the
information contained in this presentation, except that the only responsibility accepted in
respect of
information relating to BHP Billiton, which has been compiled from published sources, is to
ensure that such information has been correctly and fairly reproduced and presented. Subject as
aforesaid, to the best of the knowledge and belief of the Directors of Rio Tinto plc and Rio
Tinto Limited (who have taken all reasonable care to ensure that such is the case), the
information contained in this presentation is in accordance with the facts and does not omit
anything likely to affect the import of such information. |
· Subject to the requirements of the Takeover Code, none of Rio Tinto, any of its officers or
any person named in this presentation with their consent or any person involved in the
preparation of this presentation 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 presentation
will be achieved. |
· Subject to any continuing obligations under applicable law, 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, Rio Tinto expressly disclaims any
obligation to disseminate, after the date of this presentation, any updates or revisions to
any statements in this presentation to reflect any change in expectations or events,
conditions or circumstances on which any such statements are based. |
Rio Tinto Pilbara media visit January 2008 |
Rail operations
Richard Cohen
General manager rail operations Iron ore |
Rio Tinto Pilbara media visit January 2008 |
One of the largest privately owned railways in Australia |
· Integral part of product blending
from multiple mines |
· 1,200 kilometres of track |
· Backbone (170km) of network already
dual tracked |
· All trains are operated by one
driver only |
· Average cycle time is approximately
35-36 hours |
· Trial of automatic train technology
is well advanced |
Rio Tinto Pilbara media visit January 2008 |
Integral part of the production network |
· Rail is the key to the logistics chain |
· Ore is railed from nine rail load-outs to five dumpers |
Three dumpers at Dampier |
Two dumpers at Cape Lambert |
· The current schedule is |
Pooled fleet: 17 20 trains per day |
Mesa J: 5 7 trains per day |
0.6mt per day or 4.2mt per week |
Finish unloading a train every 50 minutes |
Train movement every 25 minutes |
Rio Tinto Pilbara media visit January 2008 |
Increase in tonnes railed in line with expansions |
Rio Tinto Pilbara media visit -January 2008 |
· Gross mass of each train: |
Pooled Fleet System 29,800 tonnes |
Mesa J System 20,000 tonnes |
· Each train is up to 2.4km long |
2 GE Dash 9 locomotives hauling 230 ore cars,
bankers used at Paraburdoo, Yandi & West Angelas
(pooled fleet) |
3 GE Dash 9 locomotives hauling 150 ore cars
(Robe Mesa J) |
Investment in rolling stock and rail efficiency |
Number of ore cars Number of locomotives |
January 2008 Rio Tinto Pilbara media visit - |
Continuous communications Signalling system |
· Approximately 800km of mainline track is signalled with Integrated
Control Signalling System featuring: |
In cab signal indications |
Continuous update of drivers limit of authority |
Train location and route data transmitted to train from track
transponders |
Automatic train protection for full speed and limit of
authority supervision |
Computer based train control system with real time train
scheduling capability |
Rio Tinto Pilbara media visit January 2008 |
Continuous communications Train control system |
· Located at the 7 Mile yard facility |
Approximately 120 trains per week |
Approximately 1,200 kilometres of track |
· Allows the train controller to issue commands: |
Switch or point movement |
Limit of authority changes |
· Receive confirmation the command has been received and actioned all within
one second |
· Commands are sent via a microwave / radio or fibre optic system to vital
signalling equipment along the rail network. |
Rio Tinto Pilbara media visit January 2008 |
Automated train operations (ATO) concept into reality |
· Leading edge technology for heavy haul and freight rail |
Two years of Research & Development |
Automatic control system will be an extension of the existing advanced
signalling systems |
· Trials well progressed: |
Segregated test track 9 |
Short train on main line 9 |
Full train on main line In progress more than 70 successful runs |
· If the trials are successful, automated trains will be progressively introduced |
· ATO will support further expansion and help manage skills shortage |
· Decision expected to be made by April 2008 |
Rio Tinto Pilbara media visit January 2008 |
· Operating a significantly larger network distance, length of track, fleet, manning, volume
of material and frequency of train movements |
· Operating a world-class system |
· Enabled by excellent communication networks and technology |
· Asset management practices adding value |
Impacts costs, safety and environmental performance |
· Trialling new initiatives regarding automation and remote operation |
Rio Tinto Pilbara media visit January 2008 |
Exhibit 99.3
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5 Aldermanbury Square
London EC2V 7HR
United Kingdom
T +44 (0) 20 7781 2000
F +44 (0) 20 7781 1800 |
Press release
Rio Tinto chief executive unveils vision for mine of the future
18 January 2008
Key building blocks for automated mine-to-port iron ore operations are
being commissioned by Rio Tinto. These include:
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Mine operations in the Pilbara to be controlled 1,300 kilometres away at a new
centre in Perth; |
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Driverless trains to carry iron ore on most of the 1,200 km of track; |
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Driverless intelligent truck fleet; and |
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Remote control intelligent drills |
Tom Albanese, Rio Tinto chief executive, unveiled his vision of the mine of the
future in Perth today as part of Rio Tintos drive to maintain its position as
Australias leading iron ore producer. The Group aims to be the leader in integrated
and automated mining and transport in the Pilbara iron ore region, leading to
greater efficiency, lower production costs and more attractive working conditions
that will help Rio Tinto to recruit and retain staff in the highly competitive
labour market.
Major components of the mine of the future are being commissioned in Rio Tinto
Iron Ore operations in 2008 and 2009 including establishing a Remote Operations
Centre (ROC) in Perth to manage operations in the Pilbara mines hundreds of
kilometres away. This allows operators overseeing Rio Tinto Iron Ore mines and
process plant facilities to be physically located in Perth, Western Australia.
Remote control intelligent trains, drills and trucks will be operational within Rio
Tinto Iron Ore during 2008. Humans will no longer need to be hands on as all this
equipment will be autonomous able to make decisions on what to do based on their
environment and interaction with other machines. Operators will oversee the equipment
from the ROC.
Tom Albanese said, Rio Tinto is changing the face of mining. We have at least a
three year start on the rest of the industry, which has focused on discrete
technologies rather than modernising the whole mine-to-port operation. Were aiming
to be the global leaders in fully integrated, automated operations. It will allow for
more efficient operations and directly confront the escalating costs associated with
basing employees at remote sites, giving us a competitive advantage as an employer
along the way.
Remote Operations Centre
A Remote Operations Centre (ROC) will be built for Rio Tinto near Perths domestic
airport. When completed in 2009, the ROC will house at least 320 employees who will
work with Pilbara-based colleagues to oversee, operate and optimise the use of key
assets and processes, including all mines, processing plants, the rail network,
ports and power plants. Operational planning and scheduling functions will also be
based in the ROC.
Cont.../
Registered in Australia Rio Tinto Limited 120 Collins Street Melbourne 3000 Australia ABN 96 004 458 404
ROC-based management would oversee pit and plant control, as well as manage the
most effective use of power distribution and support activity such as maintenance
planning. Remote operation of RTIO mines and plant in the Pilbara has already
been successfully trialled.
The centre will feature an operational control room, office block and
supporting infrastructure, and allow for potential significant expansions
beyond its initial scale.
Driverless trains
Studies are being finalised on the application of Autonomous Train Operations
technology in a heavy haul capacity and are expected to lead to significant
efficiency benefits. Mainline trials conducted with the Western Australia Office of
Rail Safety have progressed well and a decision on the next stage of the project is
expected in mid-2008. Automated rail management is the first major operation
scheduled to be run from the Remote Operations Centre.
Intelligent driverless trucks
Rio Tinto will introduce into the Pilbara the industry-leading Komatsu Autonomous
Haulage System, which will allow for a fleet of 320 tonne off-highway trucks to be
operated without drivers. The system will be commissioned before the end of 2008 and
is expected to be more widely deployed in new and existing Rio Tinto Iron Ore
operations by 2010.
Remote control intelligent drills
Rio Tinto is already using bespoke autonomous drill technology in the Pilbara to
support the mine of the future strategy.
A pathway to fully automated mine-to-port operations
Rio Tinto began work on defining building blocks for the mine of the future
over a decade ago and key components required for an integrated mine-to-port
operating system are being assembled and tested by Rio Tinto Iron Ore.
A number of key technologies have been introduced on a staged basis, beginning in
2006 with the development of autonomous drilling rigs for the Pilbara. In early 2007,
Rio Tinto established and funded on a long term basis the Rio Tinto Centre for Mine
Automation in partnership with The University of Sydney. Under this partnership Rio
Tinto has secured exclusive access to world renowned robotics experts dedicated to
addressing Rio Tintos mine of the future opportunities.
This year Rio Tinto Iron Ore will start running extensive trials at dedicated mine
test site. Trials will combine the world leading Komatsu Autonomous Driverless
Haulage System with a range of other advanced remote control and autonomous
technologies in order to provide an industrial scale proving ground and template.
Experience gained by the business will allow for further deployments in the Pilbara
in 2010 and will also have application at other Rio Tinto mining operations.
The mine of the future programme will provide opportunities for technology
driven performance improvements to support Rio Tinto Iron Ores announced plans
to take annual global iron ore production beyond 600 million tonnes.
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 Tintos 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 Tintos financial position, business strategy, plans and objectives of
management for future operations (including development plans and objectives
relating to Rio Tintos 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
Tintos 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 Tintos
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 Tintos 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 Tintos 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:
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Media Relations, Australia
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Media Relations, London |
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Amanda Buckley
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Christina Mills |
Office: +61 (0) 3 9283 3627
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Office: +44 (0) 20 8080 1306 |
Mobile: +61 (0) 419 801 349
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Mobile: +44 (0) 7825 275 605 |
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Ian Head
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Nick Cobban |
Office: +61 (0) 3 9283 3620
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Office: +44 (0) 20 8080 1305 |
Mobile: +61 (0) 408 360 101
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Mobile: +44 (0) 7920 041 003 |
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Media Relations, Americas |
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Nancy Ives |
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Mobile: +1 619 540 3751 |
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Investor Relations, Australia
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Investor Relations, London |
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Dave Skinner
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Nigel Jones |
Office: +61 (0) 3 9283 3628
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Office: +44 (0) 20 7781 2049 |
Mobile: +61 (0) 408 335 309
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Mobile: +44 (0) 7917 227365 |
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Simon Ellinor
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David Ovington |
Office: +61 (0) 7 3867 1607
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Office: +44 (0) 20 7781 2051 |
Mobile: +61 (0) 439 102 811
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Mobile: +44 (0) 7920 010 978 |
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Investor Relations, North America |
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Jason Combes |
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Office: +1 (0) 801 685 4535 |
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Mobile: +1 (0) 801 558 2645 |
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Email: questions@riotinto.com |
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Website: www.riotinto.com
High resolution photographs available at: www.newscast.co.uk
This presentation has been prepared by Rio Tinto plc and Rio
Tinto Limited (Rio Tinto) and comprises the slides for a
presentation concerning Rio Tinto. By reviewing/attending this
presentation you agree to be bound by the following conditions. |
Forward Looking Statements |
· This presentation 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 presentation, including, without limitation, those regarding Rio Tintos financial
position, business strategy, plans and objectives of management for future operations
(including development plans and objectives relating to Rio Tintos 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
Tintos 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 Tintos actual
results, performance or achievements to differ materially from those in the
forward-looking statements include, among others, levels of production during any period,
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
Tintos 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 presentation. 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 Tintos
expectations with regard thereto or any change in events, conditions or circumstances on
which any such statement is based. |
· Nothing in this presentation 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. |
· Information about BHP Billiton included in this presentation is based on public
information which has not been independently verified. Certain statistical and other
information about Rio Tinto included in this presentation is sourced from publicly
available third party sources. As such it presents the views of those third parties, but
may not necessarily |
correspond to the views held by Rio Tinto. |
Directors Responsibility Statement: |
· The Directors of Rio Tinto plc and Rio Tinto Limited accept responsibility for the
information contained in this presentation, except that the only responsibility accepted
in respect of information relating to BHP Billiton, which has been compiled from published
sources, is to ensure that such information has been correctly and fairly reproduced and
presented. Subject as aforesaid, to the best of the knowledge and belief of the Directors
of Rio Tinto plc and Rio Tinto Limited (who have taken all reasonable care to ensure that
such is the case), the information contained in this presentation is in accordance with
the facts and does not omit anything likely to affect the import of such information. |
· Subject to the requirements of the Takeover Code, none of Rio Tinto, any of its
officers or any person named in this presentation with their consent or any person
involved in the preparation of this presentation 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 presentation will be achieved. |
· Subject to any continuing obligations under applicable law, 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, Rio Tinto expressly disclaims
any obligation to disseminate, after the date of this presentation, any updates or
revisions to any statements in this presentation to reflect any change in expectations or
events, conditions or circumstances on which any such statements are based. |
Rio Tinto Pilbara media visit January 2008 |
Rio Tinto Chief Economist |
Rio Tinto Pilbara media visit January 2008 |
Four key Chinese development themes |
3.Commodity intensive growth |
4.Increasing domestic resource production costs |
· Supporting a case for strong global commodity demand and prices |
Rio Tinto Pilbara media visit January 2008 |
Rio Tinto Pilbara media visit January 2008 |
Overview of Chinese economy -growth accelerated in 2007... |
| | | |
y-o-y % changes 2006 2007 Q1 2007Q2 2007Q3 |
| | | |
Real GDP,% 11.1 11.1 11.9 11.5 |
Industrial Production,% 16.2 17.5 18.3 18.2 |
Real Fixed Asset Investment,% 15.3 16.1 17.2 16.4 |
Exports,% 21.0 22.8 21.6 20.2 |
Imports,% 16.3 17.0 16.1 15.3 |
Total retail sales,% 13.7 14.9 15.8 16.8 |
Rio Tinto Pilbara media visit January 2008 |
Consensus for 2008 -rapid GDP growth (10.5%) and industrialisation even as external demand slows
and the government strives to cool activity |
2008 growth
Selected forecasts GDP Ind. Prod. CPI |
Goldman Sachs Asia 10.3 14.5 4.5 |
Oxford Economics 11.4 16.6 3.2 |
Bank of China (HK) 10.0 17.0 3.8 |
Econ Intelligence Unit 9.9 15.7 3.8 |
JP Morgan Chase 10.5 16.5 4.0 |
Credit Suisse 10.0 16.0 6.5 |
Deutsche Bank 10.4 16.5 3.5 |
Global Insight 10.7 15.4 5.2 |
HSBC Economics 12.0 18.4 3.8 |
Morgan Stanley Asia 10.0 15.0 4.0 |
Chinese Academy of Social Science
(Dec 07) 11.0 17.7 4.3 |
Source: Asia pacific Consensus Forecasts, December 10, 2007 |
Rio Tinto Pilbara media visit January 2008 |
· Rio Tinto estimates Chinese growth is sustainable at around 9%
over the longer term. |
Likely to become more focussed on the domestic economy over time |
Cycles in growth can be expected |
· In 2008 Chinese GDP estimated to grow at around 10% even if
the US were to go into recession. |
Jury still out on whether we will see a US recession ... but |
Modelling conducted for Rio Tinto suggests that Chinese
GDP would be reduced by less than 1 percentage point if US
external demand were to slip to recessionary levels |
The Chinese governments fiscal response to any
slow down in growth would likely involve more spending
on infrastructure |
Shifts in global investment flows in the event of
a US recession would likely favour China |
Rio Tinto Pilbara media visit January 2008 |
Domestic demand remains the main contributor to GDP |
Breakdown of Chinese GDP 2006 |
China has a diverse export
base with about 20 per cent
of its exports going to the
US |
Rio Tinto Pilbara media visit January 2008 |
Escalating Foreign Exchange Reserves provide a buffer
against external shocks |
Rio Tinto Pilbara media visit January 2008 |
Direct trade effects from a US slowdown are expected to be small |
· 0.3% is small in the context of 10-11% annual growth |
· There will be other positive and negative multiplier effects associated with the direct effect |
· Overall negative effect expected to be less than 1% |
Rio Tinto Pilbara media visit January 2008 |
Commodity case study: Chinese copper Consumption is expected to be resilient to a US slow down |
· The US is no longer such a major player in the market (Brook Hunt 2007 estimates) |
The US now consumes under 12% of the worlds refined copper while ... |
China consumes about 25% |
· Chinese copper consumption is predominantly driven by domestic demand and exports are to
diverse markets. |
Rio Tinto Pilbara media visit January 2008 |
Chinese copper tube is most exposed to exports but even in that case the domestic market dominates
and US influence is relatively small |
· Around one-third of exports were to the US, accounting for only about 5% of total Chinese
copper tube production in 2007 |
· Much of the copper tube consumed domestically is used in manufacturing air conditioners |
· But the dominant market for Chinese air conditioners remains domestic with only 15% of output
sold into the US market |
Theme 3 Commodity intensive growth |
Rapid industrialisation and urbanisation have made China the largest consumer of a number of commodities |
Chinese construction is driven by ongoing urbanisation and rising urban
per capita floor space |
Industrial focus of GDP growth has levered up steel consumption ... domestic raw material shortages
have levered up iron ore imports |
China Steel and Seaborne Iron Ore Consumption |
Some key targets for Chinas economic and social development
- The 11th Five-Year Plan |
Indicator Cumulative
in five years
Growth in Urbanization (%) 4 Forecast
Transfer of rural labor (10 000 persons) 4500 Forecast
Reducing energy consumption 20 Mandated
per unit of GDP (%)
Reducing water consumption 30 Mandated
per unit of industrial value-added (%)
Reducing discharge of major pollutants (%) 10 Mandated |
Some regional GDP annual growth targets (2006-2010) |
Regions Shanghai Shenzhen Gansu Hebei Tianjin Inner Mongolia
GDP Targets 9% 13% 10% 10% 12% 13 % |
Source: Chinese central government and provincial levels five-year plans for the period 2006 to 2010.
Rio Tinto Pilbara media visit January 2008 |
Theme 4 Increasing domestic resource production costs |
· supporting growth in imports and strong commodity prices |
Chinese currency is likely to strengthen further increasing key long term commodity prices |
Electricity price to Chinese smelters has been increasing reflecting energy constraints |
China is now dependent on imported bauxite and alumina |
Location of 4th cost quartile smelters |
Exports do not appear attractive for marginal Chinese smelters at current LME prices |
Source: CNIA, Chinese Custom statistics, Rio Tinto estimates based on CRU data. |
Marginal Chinese conversion costs are defined as 90th percentile of Chinas conversion
cost curve. Conversion costs are based on CRU 2006 estimates adjusted for inflation and exchange
rate changes. Alumina costs are based on a Chinese alumina price of 3,800 Rmb/t. |
Four key Chinese development themes |
3.Commodity intensive growth |
4.Increasing domestic resource production costs |
Supporting a case for strong global commodity demand and prices |
Exploration in Rio Tinto Finding The Hidden Giants |
This presentation has been prepared by Rio Tinto plc and Rio
Tinto Limited (Rio Tinto) and comprises the slides for a
presentation concerning Rio Tinto. By reviewing/attending this
presentation you agree to be bound by the following conditions. |
Forward Looking Statements |
· This presentation 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 presentation, including, without
limitation, those regarding Rio Tintos financial position,
business strategy, plans and objectives of management for future
operations (including development plans and objectives relating
to Rio Tintos 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 Tintos 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 Tintos actual
results, performance or achievements to differ materially from
those in the forward-looking statements include, among others,
levels of production during any period, 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 Tintos 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 presentation. 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 Tintos expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based. |
· Nothing in this presentation 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. |
· Information about BHP Billiton included in this presentation is
based on public information which has not been independently
verified. Certain statistical and other information about Rio
Tinto included in this presentation is sourced from publicly
available third party sources. As such it presents the views of
those third parties, but may not necessarily correspond to the
views held by Rio Tinto. |
Directors Responsibility Statement: |
· The Directors of Rio Tinto plc and Rio Tinto Limited accept
responsibility for the information contained in this presentation,
except that the only responsibility accepted in respect of
information relating to BHP Billiton, which has been compiled from
published sources, is to ensure that such information has been
correctly and fairly reproduced and presented. Subject as
aforesaid, to the best of the knowledge and belief of the
Directors of Rio Tinto plc and Rio Tinto Limited (who have taken
all reasonable care to ensure that such is the case), the
information contained in this presentation is in accordance with
the facts and does not omit anything likely to affect the import
of such information. |
· Subject to the requirements of the Takeover Code, none of Rio
Tinto, any of its officers or any person named in this presentation
with their consent or any person involved in the preparation of
this presentation 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
presentation will be achieved. |
· Subject to any continuing obligations under applicable law, 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, Rio Tinto
expressly disclaims any obligation to disseminate, after the date
of this presentation, any updates or revisions to any statements
in this presentation to reflect any change in expectations or
events, conditions or circumstances on which any such statements
are based. |
January 2008 Rio Tinto Media Presentation |
An excellent track record of exploration |
Rio Tinto discoveries since 1990 |
Note 1: Discovery is recognised at the point of handover of a deposit from Exploration to a Product
Group or business unit evaluation team Source: Rio Tinto
Note 2: Tier 1 and Tier 2 status as determined by Rio Tinto. |
January 2008 Rio Tinto Media Presentation |
Strong pipeline of greenfield opportunities |
Source: Rio Tinto
January 2008 Rio Tinto Media Presentation |
Outstanding brownfield opportunities |
January 2008 Rio Tinto Media Presentation |
Copper Bingham Canyon Orbit |
Pilbara tenement position |
An outstanding resource position to match |
Iron ore reserves, resources and announced
targeted mineralisation Billion tonnes (100%
basis) |
Note: Please refer to previously announced ore reserves and mineral resources in the Rio Tinto 2006
Annual report and financial statements. The targeted mineralisation is based on Rio Tintos
exploration and production experience in the region, including an assessment of tenure areas using
surface mapping, drilling results and other information. The potential mineralisation is conceptual
in nature there has been insufficient exploration to define a mineral resource and it is
uncertain if further exploration will result in the determination of a mineral resource. On an
attributable basis (reserves and resources only): Rio Tinto (Pilbara) 10.5 bt, BHP Billiton
(Pilbara) 7.1 bt, Rio Tinto global) 12.2 bt and BHP Billiton (global) 8.6 bt. |
* Chart areas of announced targeted mineralisation for Rio Tinto and BHP Billiton represent the top
of the announced tonnage range. Rio Tinto information contained in the Rio Tinto 26 November 2007
investor seminar presentation. BHP Billiton information contained in the BHP Billiton 12 December
2007 presentation. BHP Billitons announced targeted mineralisation does not include Nimba due to
the lack of available information. |
January 2008 Rio Tinto Media Presentation |
Ongoing exploration success |
This presentation has been prepared by Rio Tinto plc and Rio
Tinto Limited (Rio Tinto) and comprises the slides for a
presentation concerning Rio Tinto. By reviewing/attending this
presentation you agree to be bound by the following conditions. |
Forward Looking Statements |
· This presentation 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 presentation, including, without
limitation, those regarding Rio Tintos financial position,
business strategy, plans and objectives of management for future
operations (including development plans and objectives relating
to Rio Tintos 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 Tintos 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 Tintos actual
results, performance or achievements to differ materially from
those in the forward-looking statements include, among others,
levels of production during any period, 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 Tintos 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 presentation. 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 Tintos expectations
with regard thereto or any change in events, conditions or circumstances on which any such statement is based. |
· Nothing in this presentation 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. |
· Information about BHP Billiton included in this presentation is
based on public information which has not been independently
verified. Certain statistical and other information about Rio
Tinto included in this presentation is sourced from publicly
available third party sources. As such it presents the views of
those third parties, but may not necessarily correspond to the
views held by Rio Tinto. |
Directors Responsibility Statement: |
· The Directors of Rio Tinto plc and Rio Tinto Limited accept
responsibility for the information contained in this presentation,
except that the only responsibility accepted in respect of
information relating to BHP Billiton, which has been compiled from
published sources, is to ensure that such information has been
correctly and fairly reproduced and presented. Subject as
aforesaid, to the best of the knowledge and belief of the
Directors of Rio Tinto plc and Rio Tinto Limited (who have taken
all reasonable care to ensure that such is the case), the
information contained in this presentation is in accordance with
the facts and does not omit anything likely to affect the import
of such information. |
· Subject to the requirements of the Takeover Code, none of Rio
Tinto, any of its officers or any person named in this presentation
with their consent or any person involved in the preparation of
this presentation 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
presentation will be achieved. |
· Subject to any continuing obligations under applicable law, 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, Rio Tinto
expressly disclaims any obligation to disseminate, after the date
of this presentation, any updates or revisions to any statements
in this presentation to reflect any change in expectations or
events, conditions or circumstances on which any such statements
are based. |
Rio Tinto Pilbara media visit January 2008 |
Rio Tinto is an exceptional growth business |
· Aim to maximise potential of portfolio of world class
assets and satisfy global demand through our own options |
· Highly capable management team |
Projects delivered on time and on budget |
Saw the China opportunity early |
· Sufficient scale to operate cost effectively and develop 21st century technology |
Remote operation and automation of the Pilbara already
underway, leaving BHP Billiton behind |
· More tonnes, faster, in strong pricing environment |
Rio Tinto Pilbara media visit January 2008 |
Strong demand arising from economic and demographic development will
favour Rio Tintos key commodities |
Consumption of metals increases in line with increasing income |
2007 population distribution Expenditure per capita |
The US and Chinese economies are decoupling |
· Chinese growth is expected at between 10% and 11% this
yeara mostly driven by investment and domestic
consumption |
· Rio Tinto estimates that growth is sustainable at around 9%
over the longer term, increasingly as a function of domestic
demand |
· The growth will be resource intensive |
The rapid urbanisation and industrial development
underway in China requires increasing utilisation of
metals and minerals |
· Slower US growth is not expected to have a significant overall
effect on Chinese GDP |
Modelling suggests that even if the US were to go
into recession Chinese GDP could still grow at around 10% |
The Chinese governments fiscal response to any
slow down in growth would likely involve more spending
on infrastructure |
a) Asia-Pacific consensus forecasts, 10 December 2007 |
Rio Tinto Pilbara media visit January 2008 |
Chinas share of demand for commodities has increased
significantly in recent years and is predicted to continue
rising
Chinas share of market demand |
Source: CRU quarterly reports, AME monthly outlook reports |
Rio Tinto Pilbara media visit January 2008 |
Market outlook suggests stronger forward prices for aluminium and
iron ore compared to other products
Months forward
Note: a) Iron ore average of analyst
prices, based on Australian fines FOB
benchmark price to Asia b) Aluminium,
nickel, oil, copper Ecowin, LME,
NYMEX based on prices at 9 January
2008 |
Rio Tinto Pilbara media visit January 2008 |
Mining represents close to 10% of the FTSE and is now the 3rd
largest sector
Mining = £12bn Mining = £173bn FTSE All-Share =
£1,209bn FTSE All-Share = £1,835bn
Notes: a) Source: FTSE, Bloomberg b) Based on
market capitalisation. 2007 FTSE market
capitalisation figures adjusted with Bloomberg
for December 2007 c) As at 31 December 1997, 31
December 2007
Rio Tinto Pilbara media visit January 2008
|
Rio Tinto has an outstanding position across aluminium,
iron ore and copper
Current Position Growth Position
Reserves and
Cost Positiona Industry Rankingb Projectsa
resourcesa,c,d,e
Bottom quartile Number 2 in Conceptual 16.6 billion tonnes
costs seaborne iron ore pathway to over Targeted
Iron ore 600mtpa mineralisationf adds
28 41 billion
tonnes
Bottom of the Number 1 in ~6% pa growth in 3.3 billion tonnes
second quartile aluminium aluminium and Equivalent to ~115
Aluminium costs and bauxite with more than double years production
pathway to number alumina production at current rate
1 in alumina from 2007 to 2015
Bottom quartile Number 5 with Doubling Interests in four of
costs strong growth production from to the largest
Copper prospects 2007 to ~2015 undeveloped
copper projects in
the world
Notes: a) Source: Rio Tinto 26 November 2007 investor seminar. b)
Based on 2006 attributable production. Source: Seaborne iron ore -
Iron ore Outlook July 2007 from AME Mineral Economics. Aluminium -
attributable production data from Brook Hunt, adjusted for merger
and acquisition activity and calculated on the basis that Rusal
includes Sual and Glencore assets; Alcoa includes 60% of AWAC;
Alumina includes 40% of AWAC and 2006 data is aggregated for Rio
Tinto and Alcan. Copper attributable production data from Brook
Hunt, calculated on the basis that Freeport includes Phelps Dodge
and Xstrata includes Falconbridge. c) Source: Rio Tinto annual
report 2006; Rio Tinto Iron ore Pilbara media visit, 15th
January, 2008 d) Iron ore on 100% basis, aluminium on an
attributable basis. e) Years of equivalent production calculated
as (reserves + resources) / 2007 production. f) The targeted
additional mineralisation is based on Rio Tintos exploration and
production experience in the region, including an assessment of
tenure areas using surface mapping, drilling results and other
information. The potential mineralisation is conceptual in nature
there has been insufficient exploration to define a mineral
resource and it is uncertain if further exploration will result in
the determination of a mineral resource.
Rio Tinto Pilbara media visit
January 2008 |
Rio Tinto is ahead of BHP Billiton in these sectors on key strategic
metrics
Rio Tinto ahead BHP Billiton ahead
Current Position (Rio Tinto v BHPB) Growth Position (Rio Tinto v BHPB) Reserves and
Cost Positiona Industry Rankingb Projectsa,c
Resourcesd,e
Higher
Lower position Greater absolute Higher reserves Iron ore production on the cost curve
production and resources volumes
Higher Higher
Lower position Higher reserves Aluminium production production on the cost curve and resources
volumes growth planned
Higher
Lower position Lower production Lower reserves Copper production on the cost curve volumes
and resources growth planned
Notes: a) Source: Rio Tinto 26 November 2007 investor seminar.
b) Based on 2006 attributable production. Source: Seaborne
iron ore Iron Ore Outlook July 2007, AME Mineral Economics.
Aluminium attributable production data from Brook Hunt,
adjusted for merger and acquisition activity and calculated on
the basis that Rusal includes Sual and Glencore assets; Alcoa
includes 60% of AWAC; Alumina includes 40% of AWAC and 2006
data is aggregated for Rio Tinto and Alcan. Copper -
attributable production data from Brook Hunt, calculated on
the basis that Freeport includes Phelps Dodge and Xstrata
includes Falconbridge c) Source: Iron ore BHP Billiton 12
December 2007 presentation, BHP Billiton annual report 2007,
BHP Billiton analyst site visit 28-30 October 2007. Aluminium
- Brook Hunt mine production (timing in accordance with BHP
Billiton annual report 2007), Alumar 23 March 2007
presentation, Citigroup 10 October 2007, BHP Billiton Growth
through optionality 6 June 2007. Copper Goldman Sachs 7
October 2007, Citigroup 10 October 2007, BHP Billiton 12
December 2007 presentation. d) Iron ore on 100% and
attributable basis, aluminium and copper on attributable basis
e) Source: Rio Tinto annual report 2006; BHP Billiton annual
report 2006.
Rio Tinto Pilbara media visit January 2008
|
Rio Tinto is investing proportionally more to grow its Minerals
business than BHP Billiton |
Source:Rio Tinto Annual and Interim Reports 20022007 and company data. BHP Billiton Annual Reports
and Supplementary Information 20022007 Notes: a) Revenue and capex for both Rio Tinto and BHP
Billiton include equity accounted units and jointly controlled entities b) Both Rio Tinto and BHP
Billiton are shown on a June YE c) Growth capital comprises Mineral capex excluding
exploration/evaluation expenditure and sustaining capital expenditure. In the case of BHP Billiton,
Petroleum is excluded d) Assumes BHP Billitons 2002A Minerals capex proportion is the average
proportion of Minerals capex / total capex over the years 2003A to 2007A e) Capex and revenue
figures are on a cumulative basis from 2002 onwards, where percentages are the sum of mineral
growth capex from 2002 / sum of mineral revenue from 2002 |
Rio Tinto Pilbara media visit January 2008 |
Investment to expand capacity in recent years is paying off
with 2007 production records
Iron ore production 100% basis (mt) Copper production* (kt)
* Represents Rio Tinto production on an attributable basis
Source: Rio Tinto 2006 annual report, Rio Tinto fourth quarter operations review 2007, Rio Tinto 26
November 2007 investor seminar
Rio Tinto Pilbara media visit January 2008 |
Rio Tinto has an impressive pipeline of value adding
projects
Iron ore Copper Diamonds Minerals Gold Year represents estimated
first production from project. Range of capital expenditure on
100% basis.
Bauxite & alumina Aluminum Energy Nickel
Source: Rio Tinto, * Ivanhoe
Rio Tinto Pilbara media visit January 2008 |
Importantly, Rio Tinto has higher growth prospects in iron
ore, aluminium and copper
Rio Tinto BHP
Billiton
Conceptual Projectsf |
Iron ore volume growth to 2015a,b Aluminiume volume growth to 2015a,c Copper volume growth to 2015a,d
Million tonnes; 100% basis Million tonnes; Attributable basis Million tonnes; Attributable basis |
Notes: a) Source: Rio Tinto iron ore, alumina,
aluminium, copper volumes Investor seminar, 26
November, 2007 b) Source: BHPB Iron ore volume
forecasts BHPB presentation 12 December 2007,
Annual report 2007, BHPB analyst site visit 28
30 October 2007 c) Source: BHPB Aluminium volume
forecasts Brook Hunt mine production numbers,
timing as per 2007 annual report, Alumar
presentation 23 March 2007, Citigroup 10 October
2007; BHPB presentation 6 June 2007 d) Source:
BHPB Copper volume forecasts Goldman Sachs
analyst report, 7 October 2007, Citigroup 10
October 2007, BHPB investor seminar, 12 December
2007. e) Alumina converted to aluminium equivalent
production at long term consensus prices;
Aluminium and alumina figures include Alcan from
24 October 2007. f) Conceptual projects may have
indicative production and timing provided, but
limited to no capital guidance available |
Rio Tinto Pilbara media visit January 2008 |
Mine of the future a new vision, with a plan to execute
· Breakthrough developments using pioneering
Technology & Innovation across all Product
Groups
Automation
Blockcaving
Advanced recovery
· Mine-of-the-future program
By 2010, Rio Tinto will have embedded the
major components of an automated mine rail
port system |
Partnership with Komatsu covering
Autonomous Haulage System Pilbara
implementation integration of mining,
haulage and system control |
Commissioning highly automated test-bed mine during 2008 |
· Network of key relationships with world-class R&D
institutes that supports Rio Tinto breakthrough
work. |
Proving the operational template for the new mines-of-the-future Proving the operational template
for the new mines-of-the-future |
Rio Tinto Pilbara media visit January 2008 |
Rio Tinto delivering value and exceptional growth
Rio Tinto achieved new production records in key commodities in 2007
China continues to be strong and is becoming increasingly decoupled from the US economy
Forward prices are stronger for iron ore and aluminium than oil and nickel
From 2008 onwards Rio Tinto is poised for exceptional growth as we reap the
rewards of investment in exploration, resources, infrastructure, technology and people
Rio Tinto consolidating leadership through mine, rail and port automation
Shareholder value remains our single focus |
Rio Tinto Pilbara media visit January 2008 |
Exhibit 99.5
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5 Aldermanbury Square
London EC2V 7HR
United Kingdom
T +44 (0) 20 7781 2000
F +44 (0) 20 7781 1800 |
Press release
Rio Tinto and Komatsu to develop autonomous haulage system for Pilbara iron ore
operations
18 January 2008
Rio Tinto has embarked on a ground-breaking programme to develop a world-leading
system to automate its Pilbara iron ore operations.
A significant component of this ambitious venture is the formation of an alliance
with Komatsu to develop and deploy advanced Autonomous Haulage solutions to support
Rio Tinto Iron Ores operations in Western Australia.
Rio Tinto and Komatsu have agreed to work together to establish an autonomous mining
operation in the Pilbara that will feature the industry-leading Komatsu Autonomous
Haulage System. The system will be commissioned before the end of 2008. This
autonomous mining system will be more widely deployed in new and existing Rio Tinto
Iron Ore operations by 2010.
Tom Albanese, chief executive Rio Tinto, said, Komatsu has been the Rio Tinto
Groups preferred supplier of haulage equipment for over ten years. Komatsu is our
partner of choice in the development and deployment of autonomous haulage solutions
and this alliance marks an important extension to our successful business
relationship.
Rio Tinto is committed to the development and deployment of integrated autonomous
mine-to-port operations. We are closely focussed on supporting our Pilbara iron
ore expansion through the application of world-leading automation technologies.
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 Tintos 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.
Cont.../
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 Tintos financial position, business strategy, plans and objectives of
management for future operations (including development plans and objectives
relating to Rio Tintos 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
Tintos 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 Tintos
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 Tintos 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 Tintos 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:
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Media Relations, Australia
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Media Relations, London |
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Amanda Buckley
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Christina Mills |
Office: +61 (0) 3 9283 3627
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Office: +44 (0) 20 8080 1306 |
Mobile: +61 (0) 419 801 349
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Mobile: +44 (0) 7825 275 605 |
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Ian Head
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Nick Cobban |
Office: +61 (0) 3 9283 3620
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Office: +44 (0) 20 8080 1305 |
Mobile: +61 (0) 408 360 101
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Mobile: +44 (0) 7920 041 003 |
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Media Relations, Americas |
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Nancy Ives |
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Mobile: +1 619 540 3751 |
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Investor Relations, Australia
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Investor Relations, London |
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Dave Skinner
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Nigel Jones |
Office: +61 (0) 3 9283 3628
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Office: +44 (0) 20 7781 2049 |
Mobile: +61 (0) 408 335 309
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Mobile: +44 (0) 7917 227365 |
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Simon Ellinor
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David Ovington |
Office: +61 (0) 7 3867 1607
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Office: +44 (0) 20 7781 2051 |
Mobile: +61 (0) 439 102 811
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Mobile: +44 (0) 7920 010 978 |
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Investor Relations, North America |
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Jason Combes |
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Office: +1 (0) 801 685 4535 |
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Mobile: +1 (0) 801 558 2645 |
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Email:
questions@riotinto.com |
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Website:
www.riotinto.com
High resolution photographs available at: www.newscast.co.uk