EAGLE PROPERTY

Rio Tinto announced that the Company will invest US$469 million in constructing the Kennecott Eagle nickel and copper mine in Michigan’s Upper Peninsula, USA following receipt of final environmental approvals. Construction of the mine and mill will begin this year and first production is expected in late 2013.

Rio Tinto, late in 2007, approved the development of the Eagle nickel high grade underground mine in Michigan, US, which is scheduled to begin operation in 2009. There are six further adjacent prospects which may give the potential to extend the current mine life beyond 30 years at the current planned production rates. Deeper drilling under and adjacent to the Eagle deposit reinforced the potential for further economic nickel resources outside the current mine plan. There are similarities to other world class magmatic nickel-sulphide deposits. Rio Tinto has an extensive land position in the Eagle district which is extremely prospective, including a 30 kilometre identified trend containing multiple target intrusions.

Mining giant Rio Tinto Ltd is set to spend $US300 million ($A351.06 million) to develop the Eagle nickel mine in Michigan in the United States, reports the Australian Associated Press.