The Rio Tinto Foundation for a Sustainable Minerals Industry

In June 2002, Rio Tinto entered into an agreement with the Australian Federal Government to create a management framework for research and technical development, looking specifically at the sustainable development issues facing resource businesses. The agreement was to locate that capability in Australia, and to manage activities using the Rio Tinto Foundation for a Sustainable Minerals Industry. The foundation is an initiative involving federal government funding of A$35 million, by way of an interest free loan to Rio Tinto. Rio Tinto intends to contribute a similar level of funding. The foundation supports research and technical development that will help the minerals industry face the challenges of sustainable development, with a particular emphasis on environmental goals.