MONTREAL, Feb. 3 /CNW Telbec/ - Rio Tinto Alcan announces that it has sold its 80 per cent share of the Ghana Bauxite Company Limited (GBC) to Bosai Minerals Group Co., Ltd. (Bosai).
"After conducting a thorough evaluation of our options, it was determined that, while GBC is a quality operation, its size is not aligned with our long-term strategy," said Steve Hodgson, president and chief executive officer, Bauxite and Alumina, Rio Tinto Alcan. "We believe that GBC's sale to Bosai is the best way to ensure longer-term sustainability for the operation."
Rio Tinto Alcan extends, through 2012, its original three-year commitment to support the development plans of the Bibiani Anhwiaso Bekwai District, in partnership with key local Ghanaian and international stakeholders. This US$100,000 per year commitment addresses areas of vital importance to Ghana, such as health, education, water and sanitation.
GBC, which operates in the Bibiani Anhwiaso Bekwai District of Western Ghana, employs 299 people and produced 802,000 tonnes of bauxite in 2008.
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.
SOURCE Rio Tinto Alcan
For further information: For further information: Rio Tinto Alcan Media Relations: Stefano Bertolli, (514) 848-8151, firstname.lastname@example.org; www.riotintoalcan.com