LONDON, United Kingdom, Dec. 23, 2013 /CNW/ - Rio Tinto has advised the
management of Northern Dynasty Minerals Ltd (Northern Dynasty), which
owns 100 per cent of the Pebble Project, that it intends to undertake a
strategic review, including a possible divestment, of its shareholding
in Northern Dynasty. Rio Tinto, through QIT-Fer et Titane Inc., an
indirect wholly-owned subsidiary of Rio Tinto plc, owns 18,145,845
common shares of Northern Dynasty, representing approximately 19.1 per
cent of Northern Dynasty's issued and outstanding shares.
The Pebble Project is an undeveloped copper resource located in the
Bristol Bay region of western Alaska. As part of its review, Rio Tinto
will consider the Pebble Project's fit with the Group's strategy of
investing in and operating long life and expandable assets, and with
the strategy for its Copper business, which is focussed on its four
producing assets (Kennecott Utah Copper, Oyu Tolgoi and its interests
in Escondida and Grasberg), and two development projects, La Granja in
Peru and Resolution in Arizona.
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 Tinto's 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.
SOURCE: RIO TINTO PLC
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