🕐07.09.12 - 17:27 Uhr

RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON’S INTERESTS IN RICHARDS BAY MINERALS



Rio Tinto media release Web version http://riotinto.msgfocus.com/q/1MtPh8gcvoSMAj/wv If you have problems viewing images in Outlook, please add us to your safe list http://riotinto.msgfocus.com/c/13TTP7Q5cfrGwesf4g33aUDE 07 September 2012 Rio Tinto completes acquisition of BHP Billiton’s interests in Richards Bay Minerals Click to download full pdf article Download pdf here http://riotinto.msgfocus.com/c/13TTRazRAc2jXnxYBlndhyV7 Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire interests.

The purchase price paid by Rio Tinto on completion was $1.7 billion. The acquisition price was $1.9 billion before contractual adjustments for cash payments made by RBM to BHP Billiton since the effective transaction date of 1 February 2012.

This price includes $0.6 billion for BHP Billiton’s 37 per cent equity interest in RBM, $1.0 billion for a 50 per cent interest in outstanding RBM shareholder financing arrangements, and $0.3 billion for a royalty stream. The acquisition was triggered on 1 February 2012 by BHP Billiton exercising a put option agreed with Rio Tinto as part of RBM’s restructuring in 2009.

The price was determined through a previously agreed expert valuation process. Rio Tinto Diamonds & Minerals Chief executive Alan Davies said “Doubling our stake in this tier one asset further strengthens Rio Tinto’s titanium dioxide portfolio at a time when the long-term outlook remains robust.

Demand for feedstocks is expected to grow strongly, needing the equivalent of a new operation the size of RBM to be built every two and a half years.” RBM is a South African mineral sands mining and processing operation located in Kwa-Zulu Natal.

It is one of the world’s lowest cost producers and has mineral resources to support 20 years of production.

Rio Tinto manages the RBM business and markets all of its products. In 2011, RBM produced 14 per cent share of global titanium dioxide feedstock sales and 18 per cent share of global zircon sales.

RBM’s revenues for 2011 were $1.2 billion, with 41 per cent generated from the sale of feedstocks.

Rio Tinto continues to replace legacy titanium dioxide feedstock contracts, increasing exposure to more favourable market prices. The remaining 26 per cent of RBM is owned by a consortium of local communities and businesses (24 per cent) and RBM employees (two per cent), in line with South Africa’s Broad-Based Black Economic Empowerment legislation. About Rio Tinto Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and New York Stock Exchange 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, thermal and metallurgical coal, uranium, gold, industrial minerals (borax, titanium dioxide and salt) and iron ore.

Activities span the world and are strongly represented in Australia and North America with significant businesses in Asia, Europe, Africa and South America. Contacts: Media Relations, EMEA / Americas Illtud Harri Office: +44 (0) 20 7781 1152 Mobile: +44 (0) 7920 503 600 Christina Mills Office: +44 (0) 20 7781 1154 Mobile: +44 (0) 7825 275 605 Media Relations, Australia / Asia David Luff Office: +61 (0) 3 9283 3620 Mobile: +61 (0) 419 850 205 Karen Halbert Office: +61 (0) 3 9283 3627 Mobile: +61 (0) 412 119 389 Bruce Tobin Office: +61 (0) 3 9283 3612 Mobile: +61 (0) 419 103 454 Media Relations, Canada Bryan Tucker Office: +1 (0) 514 848 8151 Mobile: +1 (0) 514 825 8319 Investor Relations, London Mark Shannon Office: +44 (0) 20 7781 1178 Mobile: +44 (0) 7917 576 597 David Ovington Office: +44 (0) 20 7781 2051 Mobile: +44 (0) 7920 010 978 Investor Relations, North America Jason Combes Office: +1 (0) 801 204 2919 Mobile: +1 (0) 801 558 2645 Investor Relations, Australia Dave Skinner Office: +61 (0) 3 9283 3628 Mobile: +61 (0) 408 335 309 Christopher Maitland Office +61 (0) 3 9283 3063 Mobile +61 (0) 459 800 131 Further information: If you have been forwarded this email, you may wish to click here to signup for our media releases http://riotinto.msgfocus.com/c/13TTTdjDY8CXowDI8qHnodcA directly. Follow us on Twitter http://riotinto.msgfocus.com/c/13TTVg3qm5dAPFJrFw1xuRu3 Website: www.riotinto.com http://riotinto.msgfocus.com/c/13TTXiNcK1OegOPbcBlHBvLw LEGAL INFORMATION - Copyright © 2012 Rio Tinto.

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