11.06.15 - 19:27 Uhr
  

Follow us

11 June 2015

Energy Resource of Australia Ltd - Ranger 3 Deeps Project Update

Download pdf here

Rio Tinto acknowledges Energy Resources of Australia Ltd’s (ERA) release to the Australian Securities Exchange on 11 June 2015, in which it announced it has decided it would not proceed with the Final Feasibility Study of the Ranger 3 Deeps project in the current operating environment.

Rio Tinto agrees with the decision not to progress the study. After careful consideration, Rio Tinto has determined that it does not support any further study or the future development of Ranger 3 Deeps due to the project’s economic challenges.

Rio Tinto recognises the importance of ongoing rehabilitation work at the Ranger mine site, which is surrounded by the World Heritage-listed Kakadu National Park. Rio Tinto is engaged with ERA on a conditional credit facility to assist ERA to fund its rehabilitation program, should additional funding be required beyond ERA’s existing cash reserves and the future earnings from processing ore stockpiles.

Rio Tinto is assessing a potential non-cash impairment charge of approximately US$300 million* (post tax) relating to its shareholding in ERA.

*nominal dollars

Contacts:

Media Relations, EMEA / Americas
Illtud Harri
Office: +44 (0) 20 7781 1152
Mobile: +44 (0) 7920 503 600

David Outhwaite
Office: +44 (0) 20 7781 1623
Mobile: +44 (0) 7787 597 493

David Luff
Office: +44 (0) 20 7781 1177
Mobile: +44 (0) 7780 226 422

Media Relations, Australia / Asia
Ben Mitchell
Office: +61 (0) 3 9283 3620
Mobile: +61 (0) 419 850 212

Bruce Tobin
Office: +61 (0) 3 9283 3612
Mobile: +61 (0) 419 103 454

Matthew Klar
Office: +61 (0) 7 3625 4244
Mobile: +61 (0) 457 525 578

Media Relations, Canada
Bryan Tucker
Office: +1 (0) 514 848 8151
Mobile: +1 (0) 514 825 8319

Investor Relations, London
John Smelt
Office: +44 (0) 20 7781 1654
Mobile: +44 (0) 7879 642 675

David Ovington
Office: +44 (0) 20 7781 2051
Mobile: +44 (0) 7920 010 978

Grant Donald
Office: +44 (0) 20 7781 1262
Mobile: +44 (0) 7920 587 805

Investor Relations, Australia
Natalie Worley
Office: +61 (0) 3 9283 3063
Mobile: +61 (0) 409 210 462

Rachel Storrs
Office: +61 (0) 3 9283 3628
Mobile: +61 (0) 417 401 018

Galina Rogova
Office: +86 21 6103 3550
Mobile: +86 152 2118 3942

Further information:

If you have been forwarded this email, you may wish to sign up for our media releases
directly.

Visit the corporate website

Read our online magazine

If you have problems viewing images in Outlook, please add us to your safe list

LEGAL INFORMATION - Copyright © 2015 Rio Tinto. All Rights Reserved. This newsletter is a service of Rio Tinto. This free publication may be copied or forwarded, without alteration, for non-commercial use only.

If you wish to unsubscribe, please click on the link below.
Please note this is an automated operation.




Products & Services | Jobs