Related Party Transaction • Jul 19, 2018
Related Party Transaction
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National Storage Mechanism | Additional information
RNS Number : 1443V
Rio Tinto PLC
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
Follow @RioTinto on Twitter
| ### Media Relations, United Kingdom Illtud Harri T +44 20 7781 1152 M +44 7920 503 600 David Outhwaite T +44 20 7781 1623 M +44 7787 597 493 |
### Media Relations, Australia Jonathan Rose T +61 3 9283 3088 M +61 447 028 913 ### Media Relations, Canada Matthew Klar T +1 514 608 4429 |
| ### Investor Relations, United Kingdom John Smelt T +44 20 7781 1654 M +44 7879 642 675 David Ovington T +44 20 7781 2051 M +44 7920 010 978 Nick Parkinson T +44 20 7781 1552 M +44 7810 657 556 |
### Investor Relations, Australia Natalie Worley T +61 3 9283 3063 M +61 409 210 462 Rachel Storrs T +61 3 9283 3628 M +61 417 401 018 |
| ### Rio Tinto plc 6 St James's Square London SW1Y 4AD United Kingdom T +44 20 7781 2000 Registered in England No. 719885 |
### Rio Tinto Limited Level 7, 360 Collins Street Melbourne 3000 Australia T +61 3 9283 3333 Registered in Australia ABN 96 004 458 404 |
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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