Rio Tinto welcomes Shovelanna decision

THE Western Australian Court of Appeal has endorsed the retention of its interest in the Shovelanna deposit in the Pilbara.

The Court upheld the then Minister for Mines’ decision in April 2006 to terminate Cazaly Iron P/L’s exploration licence application for the deposit.

“This is a good outcome for Rio Tinto Iron Ore, one that endorses the need to develop our assets in the Pilbara according to an orderly, logical timeline,” RIO Tinto Iron Ore chief executive Sam Walsh said.

“It also supports our strategy of substantial, long-term investment in this State.

“Tomorrow (29 August 2007) marks the second anniversary since this issue arose, and we trust that this decision will now bring the matter to a close.”

An application will now be made to the Wardens Court for the stay of proceedings on the mining lease applications to be lifted, and for the applications to proceed.

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