Rio Tinto and BHP Billiton update on proposed iron ore production joint venture

On 5 June 2009, Rio Tinto and BHP Billiton signed a non-binding agreement to establish a production joint venture covering the entirety of both companies' Western Australian iron ore assets.

Under the terms of the agreement up to 15 per cent of production was proposed to be sold by the joint venture, independent of Rio Tinto and BHP Billiton.

Following discussions between the two companies, Rio Tinto and BHP Billiton have decided not to proceed with the joint venture marketing activity. As a result, all production from the proposed joint venture would be marketed separately by Rio Tinto and BHP Billiton.

The two companies believe that this change will clarify the nature of the JV for customers and emphasise its focus on realising significant production and development synergies.

Rio Tinto and BHP Billiton are pleased with progress towards definitive JV agreements and expect to finalise these agreements on schedule.

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.

For further information, please contact:

Rio Tinto media and investor relations

Media Relations, Australia
Tony Shaffer
Office: +61 3 9283 3612 Mobile: +1 202 256 3667

Media Relations, London
Nick Cobban
Office: +44 20 7781 1138 Mobile: +44 7920 041 003
Christina Mills
Office: +44 20 7781 1154 Mobile: +44 7825 275 605

Media Relations, Americas
Tony Shaffer
Office: +61 3 9283 3612 Mobile: +1 202 256 3667

Media Relations, Canada
Stefano Bertolli
Office: +1 514 848 8151 Mobile: +1 514 945 1800

Investor Relations, Australia
Dave Skinner
Office: +61 3 9283 3628 Mobile: +61 408 335 309

Simon Ellinor
Office: +61 7 3361 4365 Mobile: +61 439 102 811

Investor Relations, London
Mark Shannon
Office: +44 20 7781 1178 Mobile: +44 7917 576597
David Ovington
Office: +44 20 7781 2051 Mobile: +44 7920 010 978

Investor Relations, North America
Jason Combes
Office: +1 801 204 2919 Mobile: +1 801 558 2645

Email: questions@riotinto.com
Website: www.riotinto.com

BHP Billiton media and investor relations

Media Relations, Australia
Samantha Evans
Office: +61 3 9609 2898 Mobile: +61 400 693 915
Email: Samantha.Evans@bhpbilliton.com
Peter Ogden
Office: +61 3 9609 2812 Mobile: +61 428 599 190
Email: Peter.Ogden@bhpbilliton.com
Kelly Quirke
Office: +61 3 9609 2896 Mobile: +61 429 966 312
Email: Kelly.Quirke@bhpbilliton.com

Media Relations, United Kingdom
Illtud Harri
Office: +44 20 7802 4195 Mobile: +44 7920 237 246
Email: Illtud.Harri@bhpbilliton.com

Media Relations, United States
Ruban Yogarajah
Office: US +1 713 966 2907 or UK +44 20 7802 4033
Mobile: UK +44 7827 082 022
Email: Ruban.Yogarajah@bhpbilliton.com

Investor Relations, Australia
Leng Lau
Office: +61 3 9609 4202 Mobile: +61 403 533 706
Email: Leng.Y.Lau@bhpbilliton.com

Investor Relations, United Kingdom
Andre Liebenberg
Office: +44 20 7802 4131 Mobile: +44 7920 236 974
Email: Andre.Liebenberg@bhpbilliton.com

Investor Relations, South Africa
Bronwyn Wilkinson
Office: +44 20 7802 4015 Mobile: +44 7500 785 892
Email: Bronwyn.Wilkinson@bhpbilliton.com

Investor Relations, United States
Scott Espenshade
Office: +1 713 599 6431 Mobile: +1 713 208 8565
Email: Scott.Espenshade@bhpbilliton.com

Further information on BHP Billiton can be found on our Internet site: www.bhpbilliton.com

Rio Tinto and BHP Billiton update on proposed iron ore production joint venture [PDF: 44 KB]