Rio Tinto sells wharf and land options to LNG Canada

 LONDON, United Kingdom, Feb. 12, 2014 /CNW Telbec/ - Rio Tinto has entered  into an option agreement with LNG Canada, a joint venture comprising Shell  Canada Energy, Phoenix Energy Holdings Limited (an affiliate of Petro-China  Investment (Hong Kong) Limited), Kogas Canada LNG Ltd. (an affiliate of Korea  Gas Corporation) and Diamond LNG Canada Ltd. (an affiliate of Mitsubishi  Corporation) to acquire or lease a wharf and associated land at its port  facility at Kitimat, British Columbia, Canada. LNG Canada is proposing to  construct and operate a natural gas liquefaction plant and marine terminal  export facility at Kitimat.  The agreement provides LNG Canada with a staged series of options payable  against project milestones. The financial arrangements are commercially  confidential.  Sam Walsh, chief executive, Rio Tinto said: "This is an excellent example of  how we can generate meaningful value from our existing assets by selling  options on port facilities to LNG Canada enabling it to share one of the best  deep water ports on the western seaboard of the country. This innovative  approach will provide an expanded gateway for Canadian resources to worldwide  markets which has the potential to benefit the communities and economy of  British Columbia."  Andy Calitz, vice president, LNG Canada commented: "We are pleased to confirm  the finalisation of this agreement. We believe the LNG Canada project  represents the best opportunity to bring the liquefied natural gas industry  and its benefits to the people and communities of British Columbia."  About Rio Tinto  Rio Tinto is a leading international mining group headquartered in the UK,  combining Rio Tinto plc, a London and New York Stock Exchange listed company,  and Rio Tinto Limited, which is listed on the Australian Securities Exchange.  Rio Tinto's business is finding, mining, and processing mineral resources.  Major products are aluminium, copper, diamonds, thermal and metallurgical  coal, uranium, gold, industrial minerals (borax, titanium dioxide and salt)  and iron ore. Activities span the world and are strongly represented in  Australia and North America with significant businesses in Asia, Europe,  Africa and South America.    SOURCE  RIO TINTO PLC  Media Relations, EMEA / Americas Illtud Harri Office: +44 (0) 20 7781 1152  Mobile: +44 (0) 7920 503 600 David Outhwaite Office: +44 (0) 20 7781 1623  Mobile: +44 (0) 7787 597 493  Investor Relations, London Mark Shannon Office: +44 (0) 20 77811178 Mobile:  +44 (0) 7917 576597 David Ovington Office: +44 (0) 20 77812051 Mobile: +44  (0) 7920 010 978 Grant Donald Office: +44 (0) 20 7781 1262 Mobile: +44 (0)  7920 587 805  Media Relations, Australia / Asia David Luff Office: +61 (0) 3  9283 3620 Mobile: +61 (0) 419 850 205 Bruce Tobin Office: +61 (0) 3 9283 3612  Mobile: +61 (0) 419 103 454  Investor Relations, Australia / Asia Christopher Maitland Office: +61 (0) 3  9283 3063 Mobile: +61 (0) 459 800 131 Rachel Storrs Office: +61 (0) 3 9283  3628 Mobile: +61 (0) 417 401 018 Galina Rogova Office: +852 (2839) 9208  Mobile: +852 (6978) 3011  Media Relations, Canada Bryan Tucker Office: +1 (0)  514 848 8151 Mobile: +1 (0) 514 825 8319  To view this news release in HTML formatting, please use the following URL:  http://www.newswire.ca/en/releases/archive/February2014/12/c9538.html  CO: RIO TINTO GROUP ST: Quebec NI: MNG ENV ORDER