Rio Tinto PLC Statement re Oyu Tolgoi EPC Tender
July 19 2018 - 4:03AM
Dow Jones News
TIDMRIO
RNS Number : 1443V
Rio Tinto PLC
19 July 2018
Notice to LSE
Oyu Tolgoi EPC tender
19 July 2018
Rio Tinto plc (the "Company") announces that Oyu Tolgoi LLC, an
entity in which the Company has a 33.5% indirect ownership
interest, has today entered into agreements with three Chinese EPC
contractors, each of which potentially creates a smaller related
party transaction for the purposes of the UK Listing Rules.
As part of a competitive tender process, each contractor has
been requested to submit a bid for the engineering, design and
construction of a power station for Oyu Tolgoi LLC in Mongolia. The
agreement entered into with each bidder provides that, where a
bidder submits a conforming bid and it is not accepted by Oyu
Tolgoi LLC, Oyu Tolgoi LLC will pay US$500,000 to that bidder to
offset the costs of preparing that bid and the early engineering
and design work packs.
The contractors are China Machinery Engineering Corporation,
Harbin Electric International Company Limited and Power
Construction Corporation of China. Each of these contractors is a
State-Owned Enterprise ultimately owned by the People's Republic of
China. As such, each of these entities is treated as a related
party of the Company for the purposes of the UK Listing Rules.
On 24 November 2017, the Company announced an extension of the
Channar Mining JV with China's Sinosteel Corporation, which was a
smaller related party transaction. Due to the twelve month
aggregation provisions within the UK Listing Rules, the
arrangements entered into by Oyu Tolgoi LLC are therefore also
smaller related party transactions falling within LR 11.1.10 R.
LEI: 213800YOEO5OQ72G2R82
Classification: 3.1 Additional regulated information required to
be disclosed under the laws of a Member State.
Contacts
media.enquiries@riotinto.com
riotinto.com
Follow @RioTinto on Twitter
Media Relations, United Kingdom Media Relations, Australia
Illtud Harri Jonathan Rose
T +44 20 7781 1152 T +61 3 9283 3088
M +44 7920 503 600 M +61 447 028 913
David Outhwaite Media Relations, Canada
T +44 20 7781 1623 Matthew Klar
M +44 7787 597 493 T +1 514 608 4429
=================================== ==============================
Investor Relations, United Kingdom Investor Relations, Australia
John Smelt Natalie Worley
T +44 20 7781 1654 T +61 3 9283 3063
M +44 7879 642 675 M +61 409 210 462
David Ovington Rachel Storrs
T +44 20 7781 2051 T +61 3 9283 3628
M +44 7920 010 978 M +61 417 401 018
Nick Parkinson
T +44 20 7781 1552
M +44 7810 657 556
Rio Tinto plc Rio Tinto Limited
6 St James's Square Level 7, 360 Collins Street
London SW1Y 4AD Melbourne 3000
United Kingdom Australia
T +44 20 7781 2000 T +61 3 9283 3333
Registered in England Registered in Australia
No. 719885 ABN 96 004 458 404
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END
STRSFUSWUFASEEW
(END) Dow Jones Newswires
July 19, 2018 03:48 ET (07:48 GMT)
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