Rio Tinto To Manage Ranger Rehabilitation Project For ERA

(RTTNews) - Rio Tinto (RTPPF.PK, RIO.L, RIO, RTNTF.PK) said it will manage the Ranger Rehabilitation Project in Australia's Northern Territory on behalf of Energy Resources of Australia Ltd or ERA, under a new Management Services Agreement signed.

Transition to Rio Tinto management of the project will start immediately and is expected to take about three months.

Rio Tinto owns 86.3% of ERA's shares.

Under the Management Services Agreement, Rio Tinto and ERA aim to complete the Ranger Rehabilitation Project in the safest and most efficient way, and to a standard that will establish an environment similar to the adjacent Kakadu National Park and that is consistent with the wishes of the Traditional Owners of the land, the Mirarr people.

Rio Tinto plans to build on the expertise and relationships existing within the ERA team to finalise required studies and execute the necessary rehabilitation activities.

Rio Tinto noted that management of ERA matters outside the Ranger Rehabilitation Project, including corporate matters, financial affairs, assets and governance will remain the responsibility of ERA.