Rio Tinto chief executive Tom Albanese today
announced that Keith Marshall has been appointed to the Oyu
Tolgoi project team as managing director of Ivanhoe Mines
Mongolia, Inc. Keith will be responsible for developing the
overall project and will take a leading role in the ongoing
Investment Agreement negotiations with the Mongolian
Government.
Keith is currently managing director of
Palabora Mining Company in South Africa where he successfully
took the underground from an advanced project stage to a
stable operation that consistently achieves production rates
in excess of the original design capacity. Keith has had a
long and successful career with Rio Tinto focused on project
management and operations, including at Greens Creek in
Alaska, and also in South America.
Oyu Tolgoi is owned by Ivanhoe Mines Ltd., in
which Rio Tinto currently holds a 10 per cent interest.
Oyu Tolgoi is one of four of the largest undeveloped copper
projects in the world in which Rio Tinto has an interest. It
is currently scheduled to come into production in 2011 and
reach production levels of 440,000 tonnes of copper and
320,000 ounces of gold per year.
Oyu Tolgoi is well positioned to the growing
Asian copper markets. The project will also bring substantial
benefits to the local community and the people of Mongolia.
Keith Marshall’s experience in both copper and in developing
countries will be invaluable as the project moves through the
negotiations with the Mongolian Government and the
finalisation of community and training and employment
programmes. Rio Tinto’s and Ivanhoe’s objective is to develop
Oyu Tolgoi in a sustainable, mutually beneficial manner for
their shareholders and for the Mongolian people.
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.
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Statements
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statements” within the meaning of Section 27A of the
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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
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"SEC") or Form 6-Ks furnished to the SEC. Forward-looking
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interpreted to mean that future earnings per share of Rio
Tinto plc or Rio Tinto Limited will necessarily match or
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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
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