Form 6-K RIO TINTO PLC For: Jan 31
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of January 2016
Commission file number: 001-10533 |
Commission file number: 001-34121 |
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Rio Tinto plc |
Rio Tinto Limited |
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ABN 96 004 458 404 |
(Translation of registrant’s name into English) |
(Translation of registrant’s name into English) |
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6 St James’s Square |
Level 33, 120 Collins Street |
London, SW1Y 4AD, United Kingdom |
Melbourne, Victoria 3000, Australia |
(Address of principal executive offices) |
(Address of principal executive offices) |
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F _X_ Form 40-F ___
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ___
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ___
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to
Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ___ No _X_
If "Yes" is marked, indicate below the file number assigned to the registrant in connection
with Rule 12g3-2(b): 82- ________
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned, thereunto duly authorised.
Rio Tinto plc |
Rio Tinto Limited |
(Registrant) |
(Registrant) |
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By /s/ Eleanor Evans |
By /s/ Eleanor Evans |
Name Eleanor Evans |
Name Eleanor Evans |
Title Company Secretary |
Title Joint Company Secretary |
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Date 5 February 2016 |
5 February 2016 |
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Media release |
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Rio Tinto agrees sale of Mount Pleasant for US$224 million plus royalties
27 January 2016
Rio Tinto has reached a binding agreement for the sale of its Mount Pleasant
thermal coal assets to MACH Energy Australia Pty Ltd for US$224 million plus
royalties1.
With the recently announced binding agreement for the sale of Rio Tintos interest in the neighbouring Bengalla coal Joint Venture, this amounts to US$830 million of agreed sales.
Rio Tinto Copper & Coal chief executive Jean-Sébastien Jacques said These agreements for over US$800 million in asset sales deliver significant value for our shareholders, with the potential for future royalties from Mount Pleasant.
We believe Mount Pleasant can have a very positive future under its new owners with different priorities for development and capital allocation.
Rio Tinto has now announced or completed US$4.7 billion2 of divestments since January 2013.
Mount Pleasant is a large-scale, thermal coal asset in the Hunter Valley of New South Wales with total marketable reserves of 474 million tonnes3.
The sale is subject to certain conditions precedent being met, including completion of the restructure of Coal & Allied and regulatory approvals, and is expected to close in the second quarter of 2016.
Note to editors
Rio Tinto manages Coal & Allied's coal operations, which are located in the Hunter Valley region of New South Wales, Australia. The operations include Mount Thorley Warkworth, Hunter Valley Operations and Bengalla.
Rio Tinto recently reached a binding agreement for the sale of Coal & Allieds 40 per cent interest in the Bengalla coal Joint Venture in Australia to New Hope Corporation Limited for US$606 million.
Hunter Valley Operations and Mount Thorley Warkworth are multi-seam, multi-pit, open-cut mining operations that produced 5.2 million tonnes of semi-soft coking coal and 19.5 million tonnes of thermal coal in 2015.
1 The agreement includes a payment on completion of US$83 million, two unconditional deferred payments of US$58 million each payable 8 and 16 months from completion, a conditional payment of US$25 million, and royalties, payable quarterly at two per cent of Gross FOB Revenue for coal sold from the first 625 million tonnes of Run of Mine coal (equivalent to 474 million tonnes of marketable reserves) when prices exceed US$72.50/tonne. The proceeds of the sale will be used for general corporate purposes. As of 30 June 2015, the project had gross assets valued at US$144 million and no profits.
2 Amount is before finalisation of net debt and working capital adjustments.
3 This estimate of
total marketable reserves was reported on page 199 of the Rio Tinto 2014 Annual
Report dated 4 March 2015 which was released to the market on 6 March 2015 and
is available at www.riotinto.com/ar2014. The Competent Person responsible for
this reserve estimate was Mr Andrew Prentice, AusIMM. Rio Tinto confirms that it
is not aware of any new information or data that materially affects this reserve
estimate, that all material assumptions and technical parameters underpinning
the estimate continue to apply and have not materially changed, and that the
form and context of the reserve estimate has not been materially modified.
Page 1 of 2
Contacts
www.riotinto.com
Follow @RioTinto on Twitter
Media Relations, EMEA/Americas Illtud Harri T +44 20 7781 1152 M +44 7920 503 600
David Outhwaite T +44 20 7781 1623 M +44 7787 597 493
David Luff T + 44 20 7781 1177
Investor Relations, EMEA/Americas John Smelt T +44 20 7781 1654 M +44 7879 642 675
David Ovington T +44 20 7781 2051 M +44 7920 010 978
Grant Donald T +44 20 7781 1262 M +44 7920 587 805
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Media Relations, Australia/Asia Ben Mitchell T +61 3 9283 3620 M +61 419 850 212
Bruce Tobin T +61 3 9283 3612 M +61 419 103 454
Matthew Klar T +61 7 3625 4244 M +61 457 525 578
Investor Relations, Australia/Asia Natalie Worley T +61 3 9283 3063 M +61 409 210 462
Rachel Storrs T +61 3 9283 3628 M +61 417 401 018
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Rio Tinto plc 6 St Jamess Square London, SW1Y 4AD United Kingdom
T +44 20 7781 2000 No. 719885 |
Rio Tinto Limited 120 Collins Street Melbourne 3000 Australia
T +61 3 9283 3333 Registered in Australia ABN 96 004 458 404 |
Page 2 of 2
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