June 5 (Reuters) - Global miner Rio Tinto (RIO.AX) (RIO.L)
scrapped its proposed $19.5 billion tie-up with Chinese firm
Chinalco on Friday and instead launched a heavily discounted
$15.2 billion rights issue.
The world's second-largest iron ore producer also announced
an agreement to combine its Australian iron ore mines with
rival BHP Billiton (BHP.AX) (BLT.L).
Rio Tinto Ltd/Plc (RIO.AX)(RIO.L) was to sell nearly half
its stake in the world's biggest copper mine, nearly a third of
its share in a major bauxite mine and sizeable stakes in key
operations in Australia, Indonesia and the Americas in a $12.3
billion asset deal
The transactions would have involved Chinalco investing in
minority stakes in nine assets around the world including
Escondida copper in Chile, Grasberg copper, Hamersley Iron, La
Granja copper, Kennecott Copper, Weipa aluminium and Yarwun
aluminium.
For the full story, please click: [ID:nSP393349]
A factbox detailing these assets, Rio's current ownership
and other details follows.
BUSINESS TYPE RIO NOW* CHINALCO RIO** DEAL
PROPOSED AFTER VALUE
($
MLN)
Weipa Aluminium 100% 30% 70%
1,200
Yarwun Aluminium 100% 50% 50% 500
Boyne Aluminium 59.40% 49% 30%
450***
Gladstone Pwr. Aluminium 42.10% 49% 21.50%
Escondida Copper 30% 49.75% 15% 3,388
Grasberg Copper 40% 30% 28%
400
La Granja Copper 100% 30% 70% 50
Kennecott Copper 100% 25% 75% 700
Hamersley Iron Iron Ore 100% 15% 85% 5,150
Development Fund 1 50%
500 Total
12,338 * Rio Tinto's Existing Interest
** Rio Tinto's Resulting Economic Interest
*** Refers to combined Boyne/Gladstone Power Station deal
Iron
Hamersley Iron.
COMMODITY: Iron ore
2008 OUTPUT: 95.55 million tonnes
LOCATION: Western Australia
OWNERSHIP: Rio Tinto (RIO.L)(RIO.AX) 100 pct
Chinalco's proposed share of Rio's stake 15 pct
Aluminium
Weipa
COMMODITY: Bauxite
2008 OUTPUT: 20,006,000 tonnes
LOCATION: Queensland
OWNERSHIP: Rio Tinto (RIO.L)(RIO.AX) 100 pct
Chinalco's proposed share of Rio's stake 30 pct
Yarwun
COMMODITY: Alumina refinery
2008 OUTPUT: 1,293,000 tonnes
LOCATION: Queensland
OWNERSHIP: Rio Tinto 100 pct
Chinalco's proposed share of Rio's stake 50 pct
Boyne Island
COMMODITY: Aluminium smelter
2008 OUTPUT: 552,000 tonnes
LOCATION: Queensland
OWNERSHIP: Rio Tinto 59 pct
Chinalco's proposed share of Rio's stake 49 pct
Copper
Escondida
COMMODITY: Copper mine
2008 OUTPUT: 992,400 tonnes of copper in concentrate
LOCATION: Chile
OWNERSHIP: Rio Tinto 30.00 pct
Chinalco's proposed share in Rio's stake 49.75 pct
Kennecott Utah Copper
COMMODITY: Copper mines, smelter and refinery complex
2008 OUTPUT: 238,000 copper in concentrate and 200,600 tonnes
of refined copper
LOCATION: Utah, USA
OWNERSHIP: Rio Tinto 100 pct
Chinalco's proposed share in Rio's stake 25 pct
Grasberg
COMMODITY: Copper and gold mine
2008 OUTPUT: 467,500 tonnes of copper in concentrate and 1.1
million ounces of gold
LOCATION: Papua, Indonesia
OWNERSHIP: Rio Tinto 40 pct
Chinalco's proposed share in Rio's stake 30 pct
La Granja
COMMODITY: Copper and zinc project
RESOURCE: 2.8 billion tonnes of Inferred Resources grading
0.51 percent copper and 0.1 percent zinc
LOCATION: Peru
OWNERSHIP: Rio Tinto 100 pct
Chinalco's proposed share of Rio's stake 30 pct
Gladstone Power
COMMODITY:
CAPACITY: 1,680 megawatts
LOCATION: Queensland
OWNERSHIP: Rio Tinto 42.13 pct
Chinalco's proposed share of Rio's stake 40 pct
Sources: Reuters Metal Production Database, Rio Tinto company
reports
(Reporting by Nick Trevethan; Editing by Michael Urquhart)
