Rio Tinto Alcan Sells its Share in the Ghana Bauxite Company
By Rio Tinto Alcan, PRNETuesday, February 2, 2010
MONTREAL, February 3 - 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.
For further information: Rio Tinto Alcan Media Relations: Stefano
Bertolli, +1-514-848-8151, stefano.bertolli@riotinto.com;
www.riotintoalcan.com/
For further information: Rio Tinto Alcan Media Relations: Stefano Bertolli, +1-514-848-8151, stefano.bertolli at riotinto.com
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