Among the writedown carnage, the new Rio Tinto boss has flagged a tough-minded approach to changing the culture and disciplines of the organisation, introducing real accountability and prioritising shareholder value.
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Rather than running a gas line over two years to the NT Aluminium Smelter, Rio would be better off investing in a Thorium Reactor power supply on site, a far cheaper option, or doing a deal with East Timor and have the Chinese build a Nuclear Reactor generator or even Thorium Generator in Timor with the under-sea cable to the NT (Walsh signals his plan to rein in Rio, February 15). This would benefit all concerned and provide power at very reasonable rates to the Northern Territory.
People need to start considering the possibilities that are available,
Regards
This would explain his tougher stand in Mongolia (Walsh signals his plan to rein in Rio, February 18). Rio Tinto has invested 6 billion in TRQ and is in the middle of a spat with the government of Mongolia over additional taxes etc. TRQ is exactly the world class project that Rio Tinto is looking for. Huge Deposit, High Grade, Low Cost with the ability to deliver significant contributions to Rio Tinto's bottom line provided that they can work out the differences with the government.