Company News: Rio Tinto Last Update: 12 Jul 2010

Press Release: Further update on Simandou

Date: 11 Dec 2008
Category:
Description: Rio Tinto has received correspondence from the Guinean Minister of Mines which appears to indicate that the Council of Ministers has instructed the Ministry of Mines and Geology to effect a compulsory relinquishment of the northern half of the Simandou Mining Concession whilst confirming Rio Tinto's entitlement to the southern half of that Concession.

Rio Tinto has received correspondence from the Guinean Minister of Mines which appears to indicate that the Council of Ministers has instructed the Ministry of Mines and Geology to effect a compulsory relinquishment of the northern half of the Simandou Mining Concession whilst confirming Rio Tinto's entitlement to the southern half of that Concession.

Rio Tinto has been in active negotiation in good faith with the Government of Guinea since August 2008 following receipt of correspondence from the President of Guinea purporting to rescind the Simandou Mining Concession.

Rio Tinto remains of the view that it has complied with all its obligations in relation to the Concession such that it is entitled to hold and retain the entire Concession, and will continue working in good faith with the Government of Guinea to seek to resolve this matter on that basis.