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Rio Tinto (59.4%) and its Joint Venture
partners (40.6%) will spend approximately US$617 million on
two projects which will modernise and extend the life of the
Boyne Island aluminium smelters.
The first project, construction of a new baking
furnace, will reduce onsite greenhouse gas emissions, while
the second project, which includes overhead crane replacement
and a crane runway upgrade, will result in a more efficient
crane/alumina transport system. The projects will be built
approximately over three years.
“Boyne Smelters is a key asset for Rio Tinto
Alcan. This upgrade will underpin the successful operation of
the smelter and help to ensure the continuing reliable supply
of high quality aluminium to our global customers,” Xiaoling
Liu, President, Primary Metal, Pacific, Rio Tinto Alcan said.
“At the same time, this installation of more
efficient, state of the art technology will help to reduce our
greenhouse emissions from the carbon bake by approximately
20,000 tonnes CO2-e annually.”
“This is a very exciting modernisation project
that will extend the life of our asset and improve
efficiencies and we are very pleased with the investment and
support we have received from our Joint Venture partners,” Ms
Liu said.
“With the construction of Carbon Baking Furnace
4 (CBF 4), two existing carbon bake furnaces will be replaced
with a new furnace of open bake technology,” Ms Liu added.
With this crane upgrade, runways will be
replaced, modernised cell tending assemblies installed and a
new alumina distribution system installed to supply each cell
independently of crane operations. The crane
optimisation project is designed to improve the safety of our
work environment.
Boyne Smelters was opened in 1982 and in 2007
achieved a record annual production, making it one of the
largest smelters in Australia.
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.
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 Tinto’s financial position, business
strategy, plans and objectives of management for future
operations (including development plans and objectives relating to Rio Tinto’s 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 Tinto’s
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 Tinto’s 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 Tinto's 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 Tinto’s
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.
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