Montreal - CNW-AsiaNet/ - Sohar Aluminium (SA), 20 per cent owned by Rio Tinto Alcan, has poured the first metal at its newly constructed smelter in Sohar, Oman. The state-of-the-art smelter utilizes Rio Tinto Alcan's benchmark AP36 technology - the most efficient and environmentally friendly available.
"I would like to congratulate our partners, the Oman Oil Company S.A.O.C. and the Abu Dhabi Water and Electricity Authority, as well as the project and operations teams for having achieved this major milestone right on schedule," said Rio Tinto Alcan chief executive Dick Evans.
"Rio Tinto Alcan is delighted to have expanded its presence in the dynamic Middle East Gulf region by providing not only cutting-edge technology but also operational know-how and management expertise to this project."
Noting that it will rank in the lowest quartile of the global industry cash cost curve, Jacynthe Ct, president and chief executive officer, Rio Tinto Alcan, Primary Metal, said the Sohar smelter "will showcase Rio Tinto Alcan's technology and cost leadership".
In addition to its equity interest in the project, Rio Tinto Alcan has assumed responsibility for technical and operational support as well as sales and marketing of all SA metal exported from Oman and the United Arab Emirates.
With an initial capacity of 360kt per year, the smelter is on track to reach full production in December 2008, following a ramp-up period.
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 actual 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 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.
SOURCE: Rio Tinto Alcan
CONTACT: Rio Tinto Alcan Media Relations: Stefano
Bertolli,
(514) 848-8151, stefano.bertolli(at)riotinto.com
www.riotinto.com
www.riotintoalcan
"I would like to congratulate our partners, the Oman Oil Company S.A.O.C. and the Abu Dhabi Water and Electricity Authority, as well as the project and operations teams for having achieved this major milestone right on schedule," said Rio Tinto Alcan chief executive Dick Evans.
"Rio Tinto Alcan is delighted to have expanded its presence in the dynamic Middle East Gulf region by providing not only cutting-edge technology but also operational know-how and management expertise to this project."
Noting that it will rank in the lowest quartile of the global industry cash cost curve, Jacynthe Ct, president and chief executive officer, Rio Tinto Alcan, Primary Metal, said the Sohar smelter "will showcase Rio Tinto Alcan's technology and cost leadership".
In addition to its equity interest in the project, Rio Tinto Alcan has assumed responsibility for technical and operational support as well as sales and marketing of all SA metal exported from Oman and the United Arab Emirates.
With an initial capacity of 360kt per year, the smelter is on track to reach full production in December 2008, following a ramp-up period.
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 actual 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 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.
SOURCE: Rio Tinto Alcan
CONTACT: Rio Tinto Alcan Media Relations: Stefano
Bertolli,
(514) 848-8151, stefano.bertolli(at)riotinto.com
www.riotinto.com
www.riotintoalcan
