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-----BEGIN PRIVACY-ENHANCED MESSAGE-----Proc-Type: 2001,MIC-CLEAROriginator-Name: [email protected]: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQABMIC-Info: RSA-MD5,RSA, KimOVeyGN5iUTk6+6eNQkUnEohBFAqiePw7ucTqJW4DUhN56DLvYRpRtsSJ5OIa0 LV5I3JS3Z/zCXvn7lmorsA==
0001193125-08-103943.txt : 200805060001193125-08-103943.hdr.sgml : 2008050620080506150634ACCESSION NUMBER:0001193125-08-103943CONFORMED SUBMISSION TYPE:425PUBLIC DOCUMENT COUNT:38FILED AS OF DATE:20080506DATE AS OF CHANGE:20080506
SUBJECT COMPANY:
COMPANY DATA:COMPANY CONFORMED NAME:RIO TINTO PLCCENTRAL INDEX KEY:0000863064STANDARD INDUSTRIAL CLASSIFICATION:METAL MINING [1000]IRS NUMBER:000000000STATE OF INCORPORATION:X0FISCAL YEAR END:1231
FILING VALUES:FORM TYPE:425SEC ACT:1934 ActSEC FILE NUMBER:001-10533FILM NUMBER:08806040
BUSINESS ADDRESS:STREET 1:5 ALDERMANBURY SQUARECITY:LONDON, EC2V 7HRSTATE:X0ZIP:00000BUSINESS PHONE:44 20 7781 1623
MAIL ADDRESS:STREET 1:RIO TINTO SERVICES INC.STREET 2:80 STATE STREETCITY:ALBANYSTATE:NYZIP:12207-2543
FORMER COMPANY:FORMER CONFORMED NAME:RTZ CORPORATION PLCDATE OF NAME CHANGE:19950522
FILED BY:
COMPANY DATA:COMPANY CONFORMED NAME:BHP BILLITON LTDCENTRAL INDEX KEY:0000811809STANDARD INDUSTRIAL CLASSIFICATION:METAL MINING [1000]IRS NUMBER:000000000STATE OF INCORPORATION:C3FISCAL YEAR END:0630
FILING VALUES:FORM TYPE:425
BUSINESS ADDRESS:STREET 1:LEVEL 27, 180 LONSDALE STREETSTREET 2:MELBOURNECITY:VICTORIA AUSTRALIASTATE:C3ZIP:3000BUSINESS PHONE:011611300554757
MAIL ADDRESS:STREET 1:GPO BOX 86ASTREET 2:MELBOURNECITY:VICTORIA AUSTRALIASTATE:C3ZIP:3001
FORMER COMPANY:FORMER CONFORMED NAME:BHP LTDDATE OF NAME CHANGE:20010129
FORMER COMPANY:FORMER CONFORMED NAME:BROKEN HILL PROPRIETARY CO LTDDATE OF NAME CHANGE:19960116
4251d425.htmFORM 425
FORM 425
Filed by: BHP Billiton Plc
and BHP Billiton Limited
Pursuant toRule 425 under the Securities Act of 1933
SubjectCompany: Rio Tinto plc
Commission File No.: 001-10533
The following are slides comprising an investor presentation that was first given on April30, 2008, and was subsequently amended to(i)edit the graph on slide 13, (ii)replace the profile of Marcus Randolph, Chief Executive Ferrous and Coal, BHP Billiton with a profile of Don Argus, Chairman, BHP Billiton on slide 33 and (iii)add slides 35 and36.
BHP Billiton Strength, Stability and Growth
May 2008
Disclaimer
This Rio Tinto document Limited has and been Rio prepared Tinto plc by (Rio BHP Tinto) Billiton . By Limitedreviewing/attending and BHP Billiton this Plc presentation (BHP Billiton) you agree and comprises to be bound the by written the following materials/slides conditions. for a presentation concerning BHP Billitons offers for The thispresentation directors of BHP is, to Billiton the best accept of the responsibility knowledge and for the belief information of the directors contained of BHP in this Billiton, presentation. in accordance Having with taken the all facts reasonableand contains care no to ensure omission that likely such to is affect the case, its import. the information contained in Subject accordingly to the no above, reliance neither should BHP be placed Billiton on, nor the any fairness, of its directors,accuracy officers, or completeness employees of or the advisers information nor any contained other person in the makes presentation any representation or of the views or warranty, given or implied. express To or the implied, extent as permitted to,and by law, arising, neither directly BHP or Billiton indirectly, nor any from of any its use directors, of this officers, information employees or its contents or advisers or otherwise nor any other arising person in connection shall havetherewith. any liability whatsoever for any errors or omissions or any loss howsoever sell This or presentation otherwise dispose is for information of, purchase purposes or subscribe only and for, does any securities, not constitute nor or doesform it constitute part of any investment offer or invitation advice, to nor acquire, shall it sell or any or otherwise part of it nor dispose the fact of, of or its issue, distribution or any solicitation form the basis of any of, offer or be torelied there be on any in connection sale of securities with, any in contract any jurisdiction or investment in which decision, such offer, nor solicitation does it constitute or sale a would proposal be unlawful to make prior a takeover toregistration bid or the or solicitation qualification of under any vote the or securities approval laws in any of any jurisdiction, such jurisdiction nor shall (or under an exemption an exemption therefrom. from such requirements). No offering ofsecurities shall be made into the United States except pursuant to registration under the US Securities Act of 1933, as amended, or Neither be restricted this presentation by law and persons nor any into copy whose of it may possession be taken thisor transmitted document comes or distributed should or inform redistributed themselves (directly about, or and indirectly) observe, in Japan. any such The restrictions. distribution of this document in other jurisdictions may Information about RioTinto is based on public information which has not been independently verified.
This Markets presentation Act 2000 is(Financial directed Promotion) only at persons Order who 2005 (i)are (as amended) persons falling (the within Order) Article or (ii)49(2)(a) have professional to (d)(high experience net worth companies, in mattersrelating unincorporated to investments associations falling within etc.) of Article the Financial 19(5) of the Services Order and or (iii)are outside the United Kingdom (all such persons being referred to as relevantpersons). This presentation must not be acted on or relied on by persons who are not relevant persons. Certain timing of statements development in this projects, presentation future production are forward volumes, -looking increasesstatements. in production The forward and -looking infrastructure statements capacity, include the statements identification regarding of additional contribution mineral synergies, Reserves future and Resources cost savings, and the project cost andlives statements and, without speak limitation, only other as at the statements date of this typically presentation. containing These words statements such as intends, are based expects, on current anticipates,expectations targets, and beliefs plans, and, estimates by their nature, and words are subject of similar to a number import. These of known forward and -unknown looking by risks such and forward uncertainties- -looking that statements. could cause The actual forward results, -looking performance statements and are achievements based on numerous to differ assumptions materially from regarding any expected BHP Billitons future results, presentperformance and future business or achievements strategies expressed and the environments or implied in which BHP Billiton and Rio Tinto will operate in the future and such assumptions may or may not prove to be correct. actual There are results anumber or performance of factors to that differ could materially cause actual from those results described or performance in the forward to differ -looking materially statements from those include, expressed but are or not implied limited in to, theBHP forward Billitons -looking ability statements. to successfully Factors combine that could the cause businesses any proposed of transaction, BHP Billiton including and Rio Tinto the receipt and to of realise required expected regulatorysynergies and anti from -trust that approvals, combination, Rio the Tintos presence willingness of a competitive to enter into proposal any proposed in relation transaction, to Rio Tinto, the successful satisfaction completion of anyconditions of any to transaction, rates, future as business well as combinations additional factors or dispositions such as changes and the in outcome global, political, of litigation economic, and government business, actions. competitive,Additional market risks or regulatory and factors forces, that could future cause exchange BHP and Billiton interest results rates, to differ changes materially in tax from Report those on Form described 20-F for in the the forward fiscal year- -looking -ended statements June30, can 2007, be and found Rio in Tintos BHP Billitons filings with filings the with SEC, the including US Securities Rio Tintos and Exchange Annual Report Commission on Form (the 20-FSEC), for the fiscal including year BHP -ended Billitons December Annual 31, statements. 2007, which are The available information at the and SECs opinions website expressed (http://www. in thissec. presentation gov). Otherare unknown subject to or change unpredictable without factors notice and could BHP cause Billiton actual expressly results to disclaims differ materially any obligation from those (except in the as forward required -looking by law or forward therules -looking of the UK statements Listing Authority contained and herein the London to reflect Stock any Exchange, change in BHP the UK Billitons Takeover expectations Panel, or with the listing regard rules thereto of ASX or any Limited)change or in undertaking events, conditions to disseminate or circumstances any updates on or which revisions any such to any statement is based.
Slide 2
Disclaimer(continued)
the None future of the earnings statements per share concerning of the expected enlarged BHP cost savings,Billiton group revenue for current benefits and (and future resulting financial incremental years will EBITDA) necessarily and match EPS accretion or exceed in the this historical presentation or published should be earnings interpreted per to sharemean of that BHP Billiton, and the actual estimated cost savings and revenue benefits (and resulting EBITDA enhancement) may be materially greater or less than estimated.
Information Relating to the US Offer for Rio Tinto plc
BHPRegistration Billiton plans Statement), to register which the will offer contain and sale a prospectus of securities (the it would Prospectus), issue to Rio as well Tinto as plc other US shareholders relevant materials. andRio No Tinto such plc materials ADS holders have yet by filing been with filed. the This SEC communication a Registration is Statement not a (the substitute for any Registration Statement or Prospectus that BHP Billiton may file with the SEC.
U. PROSPECTUS S. INVESTORS AND AND ANY U. S. OTHER HOLDERS DOCUMENTS OF RIO TINTO MADE PLC AVAILABLE SECURITIES TO THEM ANDALL AND/OR HOLDERS FILED OF WITH RIO THE TINTO SEC PLC REGARDING ADSs ARE THE URGED POTENTIAL TO READ TRANSACTION, ANY REGISTRATION AS WELL STATEMENT, AS ANY AMENDMENTS AND SUPPLEMENTS TO THOSE DOCUMENTS, WHEN THEY BECOME AVAILABLE BECAUSE THEY WILLCONTAIN IMPORTANT INFORMATION.
Investors (http://www. and sec. security gov), once holders such will documents be able toare obtain filed a with free the copy SEC. of the Copies Registration of such Statement documents and may the also Prospectus be obtained as well from as BHP other Billiton relevant without documents charge, filed once with they the are SEC filed atwith the the SECs SEC. website Information for US Holders of Rio Tinto Limited Shares shareholders BHP Billiton Limited should is carefully not required consider to, and the does following: not plan to, prepare and file with the SEC aregistration statement in respect of the Rio Tinto Limited Offer. Accordingly, Rio Tinto Limited The those Rio of Tinto the United Limited States. Offer Financial will be an statements exchange offer included made in for the the document securitieswill of be a prepared foreign company. in accordance Such offer with is foreign subject accounting to disclosure standards requirements that may of not a foreign be comparable country that to the are financial different from statements of UnitedStates companies.
Information Relating to the US Offer for Rio Tinto plc and the Rio Tinto Limited Offer for Rio Tintoshareholders located in the US of It may their be officers difficult and for directors you to enforce may be your residents rights and of foreign any claim countries. you may You have may arising not be under able to the sue U. a S. foreign federalcompany securities or laws, its officers since the or directors issuers are in a located foreign in court a foreign for violations country, of and the some U.S. or all securities laws. It may be difficult to compel a foreign company and itsaffiliates to subject themselves to a U.S. courts judgment.
You negotiated should purchases. be aware that BHPBilliton may purchase securities of either Rio Tinto plc or Rio Tinto Limited otherwise than under the exchange offer, such as in open market or privately References in this presentation to $ are to United States dollars unless otherwisespecified.
Slide 3
BHP Billiton Strength, Stability and Growth
Today: The worlds leading diversified mining company Our past: A proven track recordOur future: The outlook is exciting The offer for Rio Tinto
Slide 4
Today: Theworlds leading diversified mining company
Slide 5
A diversifiedglobal portfolio
Metallurgical Coal Base Metals Manganese
#1 global supplier of seaborne #3 global producer of copper, silver and lead #1 global supplier of
traded metallurgical coal seaborne manganese ore
Energy Coal Iron Ore Stainless Steel Materials
#4 global supplier ofseaborne #3 global supplier #3 global nickel producer
export thermal coal of seaborne iron ore
Petroleum Aluminium Diamonds& Specialty Products
A significant oil and gas exploration #4 global producer of bauxite and #4 aluminium EKATI Diamond Mine is one of the worlds
and production business company based on net third party sales largest gem quality diamond producers.
Aluminium Base Metals
Diamonds& Specialty Products Energy Coal Iron Ore Manganese Metallurgical Coal Petroleum Stainless Steel Materials Offices
Note: Location of dots indicative only
Slide 6
The worldslargest diversified natural resources company
Top 10 metals and mining companies
(Market capitalisation as at 18-Apr-2008, US$bn)
Australian head office Non-Australian head office
240 180 120 60 0
BHP Billiton
Vale
Rio Tinto (a)
China Shenhua
Anglo American
Xstrata
Norilsk Nickel
Freeport McMoRan
Anglo Platinum
Barrick Gold
Sources: Bloomberg, Datastream. a) Rio Tinto undisturbed market cap as at 31-Oct-2007.
Slide 7
Led by anexperienced management team
Chairman and Chief Executive Officer
Don Argus
Chairman
Chairman of BHP Billiton Group since June 2001
Chairman of BHP Limited since April 1999
Marius Kloppers
Chief Executive Officer
15 years resources experience
15 years at BHP Billiton
Group Management Committee
Alex Vanselow
Chief Financial Officer
19 years resources experience
19 years at BHP Billiton
Marcus Randolph
Chief Executive Ferrous and Coal
31 years resources experience
9 years at BHP Billiton
Previously worked at Rio Tinto
Alberto Calderon
Chief Commercial Officer
9 years resources experience
2 years at BHP Billiton
Michael Yeager
Chief Executive Petroleum
27 years resources experience
2 years at BHP Billiton
Karen Wood
Chief People Officer
7 years resources experience
7 years at BHP Billiton
Andrew Mackenzie(a)
Chief Executive Non Ferrous
30 years resources experience
Yet to start at BHP Billiton
Previously worked at Rio Tinto
Notes: a) Andrew Mackenzies appointment to BHP Billiton was announced on 20-Nov-2007, he has not yet commenced his new role at BHPBilliton. He previously worked at Rio Tinto where he was Chief Executive, Diamonds and Industrial Minerals.
Slide 8
Maintaining ourcommitment to our core strategy
Large, low-cost, expandable assets
Focus on the extraction of upstream natural resources
Portfolio diversified by commodity, customer and geography reducing the volatility of cash flows
Maintenance of a deep diversified inventory of growth options
Focus on export orientated products
Overriding commitment to ethics, safety, environmental practice and community engagement
Employer of choice, and a preferred partner for countries and customers
Slide 9
A uniquediversified portfolio balanced across high margin commodities
Underlying EBITDA
(CY2007, 12 months, US$bn)
24,000 18,000 12,000 6,000 0
4,677
23,623
FY2002
CY2007
Diamond& Specialty Products Energy Coal
Energy Petroleum (21%)
Aluminium
Stainless Steel Materials
Non Ferrous (56%)Base Metals
Metallurgical Coal
Carbon Manganese Steel Materials Iron Ore (22%)
Underlying EBITDA Margin(a)
(CY2007, 12 months)
Diamond&
34% Specialty Products
Energy Coal 23%
Petroleum 75%
Aluminium 43%
Stainless Steel
52% Materials
Base Metals 70% Metallurgical Coal 36% Manganese 40% Iron Ore 52%
Note: Historical financial information has been restated for comparative purposes per note 1 of BHP Billitons half-year financialreport for the half-year ended 31-Dec-2007. CY2007 represents the 12 months ending 31-Dec-2007. a) EBITDA margin excludes third party sales.
Slide 10
Overridingcommitment to ethics, safety, environmental practice and community engagement
Sustainable development is fundamental to oursuccess Our licence to operate depends on responsibly operating our business:
A track record of being valued by ourcommunities will contribute to us being considered a company of choice by governments, business partners and communities
Improves the ability to attract and retain a skilled and motivated workforce
Our reputationas an ethical, responsible business will assist in our ability to attract capital 2007 sustainability report available on our website
www.bhpbilliton.com/bb/sustainableDevelopment.jsp
We aim to be a business that creates a positive legacy
Slide 11
Our past: A proventrack record
Slide 12
BHP Billitoninvested in growth early to meet demand
Completed projects
(US$bn)
FY2002
FY2003
FY2004
FY2005
FY2006
FY2007
FY2008
Antamina Typhoon Tintaya Oxide
Escondida Phase IV San Juan UG Bream GasPipeline Mozal 2 Zamzama
WAIOArea C Mt Arthur North Hillside 3 Ohanet Cerrejon Zona Norte WAIOProd&Cap Exp WAIO Acc Exp
NWS Train 4 ROD GOM WAIO RGP1 Mad Dog Minerva Angostura Panda UG Dendrobium BMA Phase 1
Escondida Norte Paranam Worsley DCP Escondida Sulphide WAIO RGP2
Spence BMA Phase 2 Blackwater Coal
Genghis Khan Atlantis South Pinto Valley Stybarrow Koala UG WAIO RGP3 Ravensthorpe Yabulu
1.0
2.1
3.9
13.1
14.6
16.0
22.7
FY2002
FY2003
FY2004
FY2005
FY2006
FY2007
FY2008YTD
Historical completed projects WMC acquisition Completed projects in financial year Rio Tinto cumulative completed projects
Source: BHP Billiton and Rio Tinto annual and half-yearly reports. Note: Total represents capital expenditure on completed projects.
Slide 13
Most developmentshave been executed to expectations, wherever on the globe they are located
Major minerals development projects commissionedsince July 2001(a) (b)
120% 100% 80% 60% 40% 20% 0%
Budget
Time
Over Budget Behind Schedule
Under Budget Ahead of Schedule
Mozal 2 Hillside 3 Escondida EscondidaEscondida Spence Mount Arthur MAC WAIO WAIO WAIO Ravensthorpe Phase IV Norte Sulphide North& PACE RGP1 RGP2 RGP3
Notes:a) Selected projects >US$100m and managed by BHP Billiton. Excludes petroleum projects. Performance relative to initial announced US$ budget. b) BHP Billiton provided the latest update for the status of the Ravensthorpeproject at the announcement of its full year 2007 preliminary results on 22August 2007. At that time the expected cost was 212% of the initial announced US$ budget and 136% of the initial target schedule.
Slide 14
Delivering superiorEPS growth for shareholders
Earnings per share
(US$ per share)
50% CAGR
US$ 0.31
US$ 0.31
US$ 0.56
US$ 1.06
US$1.68
US$ 2.34
FY2002
FY2003
FY2004
FY2005
FY2006
FY2007
Note:
BHP Billitons EPS represents reported underlying EPS for the financial year ending 30-June. EPS in FY2002 excludes the results of BHP Billitons Steel business which was demerged in July2002.
Slide 15
and dividendgrowth, with 12 consecutive ordinary dividend increases
Ordinary dividends per share
(US cents per share)
50 45 40 35 30 25 20 15 10 5 0
Full year dividend Interim dividend
29% CAGR
13.0
14.5
26.0
28.0
36.0
47.0
6.5
7.0
16.5
13.5
17.5
20.0
29.0
increase 45% in dividend interim
FY2002 FY2003 FY2004 FY2005 FY2006 FY2007 FY2008
Note: Two interimdividends were paid in FY2004
Slide 16
Creatingconsiderable wealth for shareholders
A holder of 1,000 BHP Billiton Ltd shares on 28June 2001 would have seen thevalue of their total holding increase by 372%
BHP Billiton Ltd(a)
(A$)
60,00050,000 40,000 30,000 20,000 10,000
Dividends/Distributions Reinvested(a) Value of BHP Billiton Ltd Shares
Value at
30June 2002 A$10,561
Value at
30June 2004 A$13,445
Value at
30June 2006 A$32,318
Value at
18April 2008
A$48,928
Value at
28June 2001 A$10,372
Value at
30June 2003 A$9,098
Value at
30June 2005 A$19,848
Value at
30June 2007 A$39,727
Jun-01 Dec-01 Jun-02 Dec-02 Jun-03 Dec-03 Jun-04 Dec-04 Jun-05 Dec-05 Jun-06 Dec-06 Jun-07 Dec-07
Source: Bloomberg, Iress. a) Dividends/distributions assumes that the dividends are reinvested in BHP Billiton Ltd. Includes the value ofshares distributed in Bluescope Steel to BHP Billiton Ltd shareholders.
Slide 17
Our future: Theoutlook is exciting
Slide 18
Chinese growth isdriving global materials demand
Change in global consumption
(%, 1997-2007(a))
64%
50%
88%
16%
96%
7
%
36%
57%
7
%
(14)% Copper
(4)%
Nickel
(2)%
Seaborne Iron Ore
Energy
China USA Other
Notes: Seaborne iron ore demand based on import statisticsCRU data for 2007, IISI data for 1997. Energy consumption is all uses of coal, gas, oil and nuclear, expressed as millions tonnes of oilequivalent, 2007 data not yet available. Source: CRU, Brook Hunt, BP Statistical Review of World Energy (2007), IISI. a) Consumption growth calculated based on the change in annual consumption between years ended 1997 and 2007, expect for Energyconsumption which is based on the period between 1995 and 2006.
Slide 19
.andindustrialisation and urbanisation in China appears to have a long way to go
Finished steel consumption
(kg/capita)
China Germany India Japan Korea, Rep. United States Taiwan
1,200 1,000 800 600 400 200 0
0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 50,000
GDP/Capita (Jan 2008 Constant US Dollars)
Source: World Bank; Government Statistics for Taiwan; IISI
Slide 20
Sales to Chinacurrently represent 20% of BHP Billitons revenue
BHP Billiton revenue from China
(US$m)
5,5005,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0
FY02 H1 03 H2 03 H1 04 H2 04 H1 05 H2 05 H1 06 H2 06 H1 07 H207 H1 08
Base Metals Iron Ore SSM Other
371
431
785
1,075
1,357
1,588
2,407
2,946
3,611
3,999
5,293
5,013
BHP Billiton sales revenue geographical split (H1 08, US$bn)
ROW
Australia
China
Nth America
Other Asia
Japan
Europe
Slide21
India thejourney has begun
GDP
(US$ billion)
BHP Billiton copper equivalent sales volume units(a)
(100=FY2002 sales to China)
[Graphic Appears Here]
China India 1996 2006
500 450 400 350 300 250 200 150 100 50 0
FY China 2002 FY India 2007
Traded 100% Basis
Equity Basis
Source: World Bank, Focus Economics, BHP Billiton. a) Note: Converted to copper equivalent units using BHP Billiton FY2007 average realised prices and BHP Billiton estimates.
Slide 22
Our deepdiversified inventory of growth options, many of which are brown field expansions
CMSA Heap Worsley NWS Nth Angola CMSAHeap WA Iron Ore DRC Leach 2 Olympic Dam E&G Rankin B B
2
& DRC Macedon Leach 1 1 Quantum 1 Smelter Expansion 1 1 &
1
WA Iron Ore Caroona Daunia Knotty Perseverance RGP 4 4 Kipper Cannington Canadian Deeps NWS
NWS NWS CP Shenzi Head
Life Ext Potash Angel NWS WFG Thebe Nth Yabulu Boffa/Santou Ekati Maruwai T5 T5 Neptune Refinery Peak Downs GEMCO
Stage 2 Nth Nimba Exp Exp Cerrejon
CMSA MKO Navajo Klipspruit Shenzi Pyro Expansion Olympic Dam TalcKennedy Opt Exp KNS Sth Expansion 2 2 SA Mn Exp Samarco 4 4 Neptune Ore Exp Browse WA Iron Ore Bakhuis GEMCO
LNG Quantum 2Gabon Angostura Samarco Mad Dog WA Iron Ore 2 Scarborough Gas Maruwai Newcastle
SWR RGP 5 Stage 1 Zamzama
5 Wards Kipper Eastern Third Port Phase 2 Blackwater Well Ph 2 2 Indonesian Corridor Atlantis Goonyella UG Facility Sands II Guinea NorthAlumar Puma Olympic Dam Expansions Red Hill Alumina Cliffs CW Africa Expansion 3 3 Resolution Douglas-UG -Exploration Corridor Escondida Middelburg Hallmark Turrum Mt Arthur RBM Maya Sands II II Saraji 3rd Conc Coal UG Pyrenees Nickel
2013 2010 2008
Future Options Feasibility Execution
As at 29February 2008 Proposed capital expenditure
< 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