MELBOURNE--(BUSINESS WIRE)--Rio Tinto welcomes Energy Resources of Australia�s (ERA) announcement today that it will renew its independent board committee to introduce new perspectives to address the material cost and schedule overruns on the critical Ranger rehabilitation project in Australia�s Northern Territory.
Rio Tinto chief executive Australia Kellie Parker said �We thank Peter Mansell, Paul Dowd and Shane Charles for their contribution to ERA and wish them well for the future.
�We are committed to working with ERA to facilitate this board renewal process and urgently develop a workable plan to fund the increased rehabilitation costs.
�We restate our belief that the successful rehabilitation of the Ranger Project Area, which is of critical importance to the Mirarr People, Rio Tinto and ERA, can be achieved in a way that is consistent with the Mirarr People�s wishes. This remains our utmost priority and commitment.�
Rio Tinto has finalised work with ERA to amend an existing A$100 million credit facility to assist ERA with its management of immediate liquidity issues.
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