MONTREAL, July 10 /CNW Telbec/ - Rio Tinto Alcan has initiated formation
of the previously announced CDN$200 million fund to support communities in
Canada. Named the Rio Tinto Alcan Canada Fund, this is a major step in the
fulfilment of Rio Tinto's promise to continue the former Alcan's commitments
to communities in which it operates. The endowment will be built up over a
five year period beginning with the first instalment to be made in July 2008,
consistent with the commitment made by Rio Tinto one year ago when it
announced the recommended offer for Alcan Inc.
"The former Alcan group of businesses have a legacy of resource
stewardship and sustainable community support and development which closely
match Rio Tinto's global values," said Dick Evans, chief executive, Rio Tinto
Alcan. "We are very proud to build on this historical record by formalizing
the continued commitment of Rio Tinto Alcan to Canada through the creation of
the Rio Tinto Alcan Canada Fund."
The Rio Tinto Alcan Canada Fund will be overseen by a largely independent
Board of Directors, chaired by Dick Evans, whose members include:
- Hélène Desmarais, chair of the board and CEO of the Montreal
Enterprises and Innovation Centre
- Sir Brian Fall, former British high commissioner to Canada and
consultant to Rio Tinto
- Clifford Moar, former chief, Montagnais First Nation
- Gaston Ouellet, associate professor, HEC Montréal (Ecole des Hautes
- Monica A. Patten, president and CEO, Community Foundations of Canada
- David A. Thompson, chairman, Vancouver Coastal Health Authority
The Rio Tinto Alcan Canada Fund's mandate is to deliver on existing
commitments in Quebec and elsewhere in Canada such as support for the Montreal
International Jazz Festival, the Montreal Neurological Institute, the Montreal
Planetarium and numerous other commitments in the Saguenay, Quebec and
Northern British Columbia regions, and also to develop new programs in line
with values and areas of focus, consistent with sustainable development, that
are shared with Rio Tinto.
"The creation of the Rio Tinto Alcan Canada Fund caps a year in which Rio
Tinto has announced significant projected investments in Canada, potentially
totalling over US$8 billion," continued Evans. "Rio Tinto believes firmly that
it is in our strategic interest to support local communities as we expand our
footprint and capacities in Canada."
For more information on the Rio Tinto Alcan Canada Fund, please visit
www.riotinto.com/riotintoalcan, under Our Approach or send an email to
About Rio Tinto in Canada
Rio Tinto Alcan joins other Rio Tinto operations in Canada in creating an
economic powerhouse centred in Quebec, with operations bordering on the
Atlantic, Pacific and Arctic oceans. In addition to Rio Tinto Alcan, Rio Tinto
owns or holds majority stakes in Rio Tinto Exploration, in Vancouver, BC,
Diavik Diamond Mines, in the NWT, QIT Fer et Titane, in Sorel-Tracy, QC, and
the Iron Ore Company of Canada (IOC), of Sept-Iles, QC and Labrador City, NL.
Rio Tinto's worldwide copper projects group is also headquartered in
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.
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.
For further information:
For further information: Rio Tinto Alcan Media Relations: Stefano
Bertolli, (514) 848-8151, email@example.com;