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Rio Tinto North America
Analyst Tour
Borates for the New Millenium
• Alarms
• Emergency exits
• Personal protective equipment
• Site specific hazards
• Questions?
Boron Operations
September 23, 2002
Safety

• Preston Chiaro, President and CEO
• Chris Robison, Operations
• David Peever, Sales & Marketing
• Gordon Hamilton, Business Development
Rio Tinto
Iron Ore
Copper
Aluminium
Gold & Other Minerals
Energy
Industrial Minerals
Luzenac Group
Dampier Salt
Iron & Titanium
Borax
Presentation team
Rio Tinto Borax

Preston Chiaro
President and CEO
David Peever
Sales & Marketing
Chris Robison
Operations
Gordon Hamilton
Business Development
Paul Zerella
Technology
Jeff Olsen
Finance
• Market leader (supplier of choice)
• Strategy focused
• Competitive
• Increased appetite for taking calculated risks
• Hungry for growth
• Cost-conscious
• Excellent reputation
Steve Saperstein
Human Resources
Mike Stockman
General Counsel
Alexis Fernandez
Communications and Communities
Jim Qin
Environment, Health and Safety
Ed Docks
Business Improvement
Borax organization
What is Borax?

World-wide facilities
Mines/Refineries/Terminals
• Boron, USA
• Wilmington, USA
• Salta, Argentina (4 mines plus
refinery)
• Coudekerque, France
• Rotterdam, Netherlands
• Valencia, Spain
• Monfalcone, Italy
• Pusan, South Korea
• Kaoushiung, Taiwan
• Port Klang, Malaysia
Corporate/Sales Technical Support
• U.S. Borax, Valencia, USA
• Borax Argentina, Argentina
• Borax Brasil, Brazil
• Borax Benelux, Belgium
• Deutsche Borax, Germany
• Borax España - Spain
• Borax Europe, UK
• Borax Francais - France
• Borax Italia - Italy
• Borax Asia - Singapore
• Borax Asia - Beijing
• Borax Asia - Shanghai
• Borax Asia - Guangzhou
Warehouses (not shown)
• Austria
• Germany
• Norway
• Russia
• Ukraine
• United Kingdom
Borax principal products
B2O3 Production
Sodium Borates Content (%) Ranges, ‘000 tpa Principal Uses
Borax Decahydrate 38 60-90 Cleaning
(10 Mol)
Borax Pentahydrate 49 700-900 IFG, Detergents,
(5 Mol) Agriculture
Anhydrous Borax 69 20-30 Borosilicate
Glass, Enamel
Non Sodium Borates
Boric Acid 56 160-250 TFG, Ceramics,
Chemicals
Anhydrous Boric Acid 99 5-10 Specialty glass

Strengths
• Long-life, low cost, world-class ore
bodies and refining facilities
• Customer focus
• Knowledge (global borate
resources, chemistry, R&D,
technical support, etc.)
• Rio Tinto synergies
Opportunities
• Borate end use protection and
growth by exploiting unique
physical, chemical, biological, and
nuclear properties of boron
• Continuing cost efficiency gains
• Improving customer value in use
200
150
100
50
0
Borax SWOT matrix
Weaknesses
• Slow inherent growth rate of traditional end
use markets
• Logistics cost disadvantages
• Size of ore reserves relative to Eti
• Difficult to grow by acquisition
Threats
• Price pressures (driven by competitor
expansion desires)
• Customer buying power (global,
concentrated markets)
• Product substitution
Indexed sales and earnings
(1993 = 100)
1993 1994 1995 1996 1997 1998 1999 2000 2001
Earnings Sales
Recent performance

• Defend markets
– Protect against inappropriate regulation
– Minimize substitution
• Stimulate intensity of use (tons per million)
– United States: 1,400
– Germany: 1,200
– China: 90
• Stimulate new uses
Mission, strategy and values
Secure markets

• Differentiate product and service package to provide
outstanding value proposition for our customers
– Reliability
– Quality (ISO 9000)
– Continuous product improvements
– Technical support
– Efficient and flexible distribution
• Maximize conversions of minerals to refined products
• Establish and nurture long term partnerships
• Maintain industry leadership
Secure market share
Secure resources
• Human resources
– Safety
> Visible, heartfelt executive leadership
> Focus on safe behaviors (SMAT) and increase involvement
and accountability of workers
– Competence
– Accountability (scorecards)
– Talent management (leadership review)
• Natural resources
– Optimize use of various ore types at Boron
– Rational use of borate sources in South America
– Exploration
> Unified with Rio Tinto Exploration
> Goal - find the next world class sodium borate deposit (20+
year development lead time)

• Business improvement initiatives
– Revenue enhancement
– Cost and productivity review
– Capital spending
– Performance management
• Revenue enhancement
– Mineral conversions
– Alliances
– Rigorous customer segmentation
– Added value borate product
– Perborate defense
– Integrated distribution logistics
– Improve South America options
– Develop emerging agriculture markets
Secure profits
Secure profits

• Cost and productivity review
– Patterned after McKinsey TOP/Comalco PEP
– Target 40 percent reduction in compressible costs
– 28 work units cover all departments and people
– Over 700 ideas selected to be implemented
– On track for overall 20 percent cost reduction
– Two year implementation window
• Rigorous capital spending process
• Performance management system
– Patterned on “balanced scorecards”
– Identify key value drivers for business
> Corporate “dashboard”
> Diagnostic
> Leading and lagging
– Target setting principles
– Consequence management
– Signed performance “contracts” for all employees
Secure profits
Secure profits

• Safety factors
– LTIFR
– AIR
– Severity
• Business performance factors
– After tax earnings
– EACC
– Overall business NPV
• Other factors
– Performance management rollout
– Cost savings
– Cooperation with other Rio Tinto business units
– Realization of value from new applications
– Demonstrate business case for sustainable development
• Sustainable development - Development that meets the
needs of the present generation without undermining the
capacity of future generations to meet their needs
– Planet
• ISO 14001 certification at all sites
• Regulatory compliance provides foundation
– People
• Mutual respect
• Active partnership
• Long-term commitment
• Global coordination, local focus
– Profits
• Sustain healthy economic performance
My scorecard
Secure reputation

100%
80%
60%
40%
20%
0%
Sustainable Development
Sustainable development principles
Which Borax initiatives do opinion leaders
want to know more about?
58% 57% 52% 52% 50% 45%
Product innovation/R&D
Environ activities/policies
Exploration practices
Technical support
Rel'ship w/ Rio Tinto
Who cares?
More info

What’s in it for Borax?
• Gain competitive advantage through new approach to product
design and borate applications
• Differentiate Borax from the competition
• Enhance Borax’s (and the industry’s) reputation
• Reduce risks and costs of uncertainties
• Provide comprehensive framework to guide employee
decision-making
• Secure society’s continued approval to operate
Sustainable development mission:
How does it work?
To ensure that Borax operations and products contribute to sustainable
development

What are we trying to accomplish?
• Objectives
– To protect the safety and health of employees, contractors,
neighboring communities and the public
– To enhance the human potential and well-being of
communities and employees
– To maximize efficient utilization of resources while minimizing
environmental impacts of our operations
– To optimize our economic contribution to society
– To expand how our products contribute to sustainable
development
• Sharp focus on safety performance
• Retain market leader position
• Strategy-focused, driven management team
• Increasingly competitive environment
• Increased appetite for taking on calculated risks
• Growth through added customer value and new end uses
• Attention to costs
• Maintain reputation
Summary

Boron
Wilmington
Chris Robison
Operations Overview
Borax
Francais
Borax
Espana
Borax
Rotterdam
Borax
Argentina
World-wide operations
Kuala Lumpur
(Transloader)
Pusan
(Transloader)
Kaohsiung
(Transloader)

Boron Operations
Wilmington

Borax Rotterdam
Borax Français

Nules
Valencia
Borax España
Borax Argentina

40
35
30
25
20
15
10
5
0
1996 1997 1998 1999 2000 2001 2002 YTD
Ongoing initiatives
• SMAT process
• Near-miss reporting
• Fitness for duty
• Drug and alcohol testing
• Post injury management
Headcount
1100
1000
900
800
700
600
500
Injury trend - Borax Operations
Lost Time Injuries
Total Injuries
Boron Efficiencies 1982 to 2004
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Headcount Tons B203 per Manhour
0.55
0.50
0.45
0.40
0.35
0.30
0.25
Tons B203 per Manhour

Headcount
Headcount
36
34
32
30
28
26
24
22
20
100
90
80
70
60
50
40
Rotterdam
1996 1997 1998 1999 2000 2001
Headcount - Rotterdam B2o3 Tons per manhour - Rt
Spain
130
125
120
115
110
105
100
95
90
85
80
1996 1997 1998 1999 2000 2001
Headcount
Headcount - Spain B2o3 Tons per manhour - S
Headcount
1.600
1.400
1.200
1.000
0.800
0.600
0.400
0.200
Tons B2O3 per
manhour
France
1996 1997 1998 1999 2000 2001
400
350
300
250
200
150
100
50
0
339
Headcount - France B2o3 Tons per manhour - Fr
8.000
7.000
6.000
5.000
4.000
3.000
2.000
Tons B2O3 per manhour
358
337
Argentina
316
240
Efficiencies
0.080
0.070
0.060
0.050
0.040
0.030
0.020
0.010
1995 1996 1997 1998
Years
1999 2000 2001
Employees Tons B2O3/Manhour
Tons B2O3 per manhour
Efficiencies
230
195
0.12
0.1
0.08
0.06
0.04
0.02
0
Tons B2o3 per manhour

Rio Tinto Borax - Boron deposit statistics
• Original resource 230 million tons of sodium borates
• Underground mine opened in 1927 (9 million tons)
• Open pit mining since 1957 (101 million tons)
• 113 million tons of mineable sodium borate reserves* remain
• Deposit also contains 123 million tons of mineable
sodium/calcium borate reserves for future use
*As per JORC Code
Boron Mine Operations production information
Ore mining rate 3 million tons/year
Overburden mining rate 58 million tons/year (‘02 - ‘07)
Mine redevelopment/capitalized Over 16:1 strip ratio
Remaining mine life strip ratio 20.4 : 1
Ore grade Tincal 25.3% B 2 O 3
Kernite 31.9% B 2 0 3

Tons (000's)
120,000
100,000
80,000
60,000
40,000
20,000
0
1996
1997
P&H 4100 (tons/hr)
6500
6000
5500
5000
4500
4000
3500
3000
2500
2000
1998
1999
2000
2001
2002
2003
2000 2001 2002 2003 2004 2005 2006
2004
TPH P&H 4100's Shovel Industry Avg.
TPH Unit Rig 240-T Trucks Truck Industry Avg.
•2 P&H 4100 Electric Rope shovels
•1 Liebherr 996 Hydraulic Shovel
•2 Loaders (LeTourneau L1400 and L1350)
•25 Terex Unit Rig 4400
•1 x 16g Grader
•2 x 24g Grader
•4 x D11 Dozers
•2 x DK55 Drills
Waste stripping
Stripping Average Stripping
2005
2006
2007
Mine productivity
950
850
750
650
550
Unit Rig 4400 (tons/hr)

Plan
Ideas
Individual
Projects
Cost
Reduction
19%
EHS
14%
Project
Requests
(PDF’s)
Prioritize
with Current
Plan
Project
Appropriation
Request
(PAR)
Project
Value
Analysis
(PVA)
2002 CAPEX
Capacity
16%
PAR
Draft
Review
Sustaining
51%
Prioritize,
Resource
Allocations
Gate
Capital
Review
Committee
Gate
Project
Appropriation
Approval
EHS
23%
Preliminary
Capital
Plan
Project
Request
(PDF)
Project
Implementation
Capital approval process
Gate
Capital
Review
Committee
Out-of-Plan
Ideas
Feedback from
Lessons Learned
Project
Closeout
Meeting
Major
Cost
Reduction
10%
Overhauls
6%
Other
1%
Final
Capital
Plan
Project
Closeout
Project Audits
Capital plan - project type
2003 CAPEX
Capacity
18%
Sustaining
42%

Wilmington
• July 2001 agreement
• Unprecedented 5-year term
• Improved flexibility
– Overtime
– Supervisor’s performing work
– RIF-cost/productivity improvements
Boron
• November 2001 agreement (3-year)
• Significant cost/productivity improvements
– Pyramiding of overtime eliminated
– Fitness for duty program
– Product packing - outside Boron
– 12-hour shifts - mine operation
12-hour shift benefits
• Eliminated one shift change/lunch break
• Reduced overtime - 30%
– Unscheduled
– Working lunch
• Productivity
– Shutdown/start-up
– Crew alignment
– Communications
• Equipment reduction
– 1 shovel
– 2 loaders
– 8 haulage trucks
• Fatigue
– Overtime - day off only
– Improved time off
Labor contracts
Labor

Key Negotiations Message
“We have, and will continue to, provide good wages and benefits, but we must in return achieve cost
and productivity improvements and flexible work practices.”
Short Term
• Creating a culture around performance
management
- Consistency
- Accountability
- Reliability
- Efficiency
• Consistent application of processes by
supervisors
- Attendance
- Corrective Action
- Overtime
- Drug and Alcohol Testing
• Upgrading and evaluating talent pool
• Imbedding continuous improvement as a
way of business
Long Term
Group-wide initiatives
• Additional cost reductions - 10% over 3 years
• Rationalization and consolidation
– Wilmington/Coudekerque/Boron
• Zinc borate capacity
Boron
• Boric acid capacity
• Mine optimization
• Kernite hydration/alternatives
Spain
• Port changes - Valencia to Castillion
Argentina
• Boric acid plant
• Furnace modernization
• Mine planning
• Tincalayu dry plant
• Creating a culture of interdependence.
– Increased use of teams and crossfunctional
groups
• Position ourselves to achieve more flexibility
in work practices
– Increased flexibility in job assignments
– Minimization of restrictive work
practices
• Levels of work properly focused
• Application of sustainable development
principles and philosophies
Labor
Looking ahead

Commercial Director
Europe
David Peever
World Borate Market Outlook
Commercial Manager
South America
General Sales Manager
North America
Global Technical
Service Manager
Global Strategy
Manager
Chief Commercial Officer
Global Distribution
Manager
Global commercial organization
General Manager
Borax Asia
Global Business Manager
Forest Products
Global Marketing
Manager
Global Business Manager
Agriculture
Global Business Manager
Fiberglass Products

2001 2002 2003 2004 2005 2006
Total B 2 O 3 (KMT) 1,190 1,180 1,210 1,250 1,270 1,300
(rounded to nearest 10kmt)
Estimated total B 2 O 3 market - the outer years
Percent change -.8% 2.5% 3.3% 1.6% 2.2%
Agriculture
7%
Ceramics
14%
Detergents
12%
2001
Source: RTB sales & publicly available data
Others
26%
Borosilicate
Glass
8%
Estimated world end use demand for borates
2001 & 2006
TFG
15%
IFG
18%
Agriculture
7%
Ceramics
15%
Detergents
9%
Source: RTB sales & publicly available data
2006
Other
28%
Borosilicate
Glass
8%
TFG
15%
IFG
18%

IMCC
6%
S America
7%
AB & Other
(RTB, IMCC)
10%
BA (RTB)
21%
Estimated global borate sales by mine source
2001 data
Russia
4%
Eti Bor
32%
1,190 B 2 O 3 kmt
China
7%
Source: RTB sales & publicly available data
10 Mol (China)
9%
Source: RTB sales & publicly available data
Minerals (Eti)
22%
Borax
44%
Estimated world borate market
B 2 O 3 product basis (largest supplier)
5 Mol (RTB)
38%

23%
34%
9%
10%
N America
419kmt B2O3
5%
Estimated regional market share - 2001
62%
51%
Europe
441kmt B2O3
4% 4%
5%
Borax Eti Bor IMCC S America FSU
Source: RTB sales & publicly available data
Asia Pacific
230kmt B2O3
5%
8%
36%
Estimated regional market share - 2001
32%
12%
47%
3%
International
100kmt B2O3
Borax Eti Bor IMCC S America FSU PRC
Source: RTB sales & publicly available data
3%
17%
30%

1998 1999 2000 2001
Refined 160 196 178 190
Minerals 231 212 202 181
Source: Eti annual report & publicly available data
• Moderate demand growth
• New competitive capacities
• Move away from minerals
• Perborate substitution
• Selling value
• The pricing imperative
• The economy
Eti moving to refined
Estimated volume (kmt B 2 O 3 )
Key strategic issues

• Customer segmentation
• Mineral conversions
• Service offerings/sell value
• Aligned, focused organization
• Management processes
• Efficient distribution channels
• Maintain status as market leader
Secure market share

Gordon Hamilton
Growth Through New Applications
The challenges facing Rio Tinto Borax
Threats to maintaining value
– Mature end uses with modest growth prospects
– Traditional end uses under increasing competition
– Some end uses are facing reformulation or substitution
Opportunities to build value
– Generate new business areas for borates - secure markets
– Defend mainstream businesses
– Reduce costs

Generate incremental borate sales worth 25% of current
revenue per annum by 2010, and a further 25% of current
revenue for each subsequent 10-year period
Mission
Business Development approach
• We invest ~2% of turnover in our development efforts
• We are structured as a separate ‘hot house’ unit, transferring
young business to mainstream sales
• We stimulate idea generation from all sources, both internal and
external
• We instill rigor and objectivity through a stage / gate process
• Executive involvement and good process allows a balance
between creativity and a ‘grow or kill’ ethos
• We will secure value for Borax through use of technology and
intellectual property protection

Horizon 3 Horizon 2 Horizon 1
Idea generation
and evaluation
Faster time to market of all projects in the pipeline
Increased emphasis on getting high profit projects to
market
Disciplined prioritization of the portfolio; kill/idle
projects with low technical or market feasibility
Ensure all projects with significant potential are
resourced to move forward quickly
Some current activities:
• Pulp and paper
• Ceramics
• Wood protection of
residential housing
• Hydrogen storage/fuel cell
Validation, development
and launch
Process overview
Full transfer to sales +
marketing
Areas already delivered:
• Textile fiber glass gains
Growth sectors
• Borates as wood preservatives
• Polymer additives
• Gypsum board
• Steel

Concept
Chemical recovery in pulp production
• Add borates into the pulping chemical recycle stream to reduce
raw material costs and energy usage
• Patented technology
• Initial target is kraft mills with chemical recovery limitations
• Market potential assessed as 50kmt B 2 O 3
Initiatives
• Formed joint development team with Luzenac North America to
build speed to market
• Technical credibility built with the industry
• Trials at several majors started – more to come this year
Concept
Ceramic tile bodies
• Add borates into the ceramic tile body to reduce raw material cost
and energy usage
• Unique double functionality identified – fluxing, dry strength
increase
• High market potential – equal to 150kmt B 2 O 3
Initiatives
• Formed joint development efforts with frit producers to build
speed to market
• Strong value propositions identified: >10% reduction in costs
possible
• One customer commercialised
• Trials at several majors starting

Concept
Borates in residential wood construction
• Improve durability and value of residential construction.
• Initial target - ‘high hazard’ regions in the USA
• Good market potential – equal to 70kmt B 2 O 3
• Builder improves profit, image and reduces call backs
• Home buyer get more durable, bug free home
• Building products supplier increased margins
Initiatives
• Formed joint development efforts with building products groups
to build speed to market
• Strong value propositions identified: $1.5 - $2 per sq ft add on
cost to home buyer
• Two construction projects confirmed (>1,000 homes)
• Up scale production builders being courted
High hazard
Moderate hazard
Low hazard
Over 40% of all new homes are built in the
high termite and decay hazard area
Target regions

Concept
Hydrogen storage for fuel cells
• Solves problem of hydrogen storage for transportation, personal
electronics, portable, and back-up power
• Sodium borohydride
– high storage density
– safe
– recyclable
• Market potential is massive (many times current B 2 O 3 sales)
Initiatives
• Joint Development Agreement with Millennium Cell to bring price
of borohydride in line with public expectations
• Daimler Chrysler Natrium minivan demonstrated on open road,
300 mile range with no incursion of fuel system into cabin
• Long-range, high potential project adds diversity to BD portfolio
• Balance of risk vs. potential
We are prepared to:
• Form alliances to accelerate growth
• Share market knowledge
• Share technical know-how and development
• Share intellectual property
• Share market value
• Assume greater (but fully considered) risk
• Have more failures than successes to build incremental business
for Borax as fast as possible

RIO TINTO BORAX
Background
Rio Tinto Borax operates California’s largest open pit mine in Boron, California – one of two worldclass
borate deposits. The company supplies nearly half the world’s demand for refined borates.
Borax traces its roots to California’s Death Valley, where borate deposits were discovered in 1872.
Today, Borax is acknowledged as the world leader in borate technology, research and
development; and an industry leader in efforts to measure and improve the social, environmental
and economic impacts of its products and practices.
Borax is a wholly-owned subsidiary of Rio Tinto plc.
Commercial Overview
� Customers in nearly 100 countries
� Sales in the half billion dollar per annum range
� Global market share of about 43%; steady for the past four years
� Global borate market = 41% insulation fiberglass, textile fiberglass and heat-resistant glass;
13% ceramic and enamels frits and glazes, tile bodies; 12% detergents, soaps and personal
care products; 6% plant fertilizers; 28% other uses, including flame retardants and wood
treatments
� 95% on-time shipping rate, bolstered by Strategic Inventory Placement and long-term contracts
with shippers
� Sales and technical support offices in United States, Argentina, Brazil, Belgium, Germany,
Spain, United Kingdom, France, Italy, Singapore and China
Operations Overview
� Annual production of more than one million tons of refined borates
� Emissions below allowable levels; environmental management system ISO 14001 certified
� 30% reduction in lost-time injury rate; 30% reduction in severity of injuries achieved in 2001
� Quality management systems ISO 9002 certified
U.S. Operations
U.S. Borax Inc., Boron Operations – Borax’s primary mining and refining facility, located in
California’s Mojave Desert.
� 849 employees with an average tenure of more than 15 years (658 hourly)
� Facility recently achieved 1,845,438 hours without a lost-time accident
� Pit measures a mile wide, one and one-half miles long and up to 700 feet deep

� More than 80 different types of minerals found in mine; four main types of borates are tincal,
kernite, ulexite and colemanite
� Mine ore at a rate of about three million tons per year – open pit mining using front end loaders
to mine ore; electric shovels and haul trucks to remove overburden
� Refinery operation produces about one million tons of borax, boric acid and anhydrous
products per annum
� Energy supplied by two cogeneration plants that produce 100 megawatts of electricity, 85 of
which are sold to local utility. One-third of electricity goes to operate pollution control
equipment
� Fleet of nearly 800 rail cars to transport borates to North American customers and central
shipping facility in Wilmington. Principal transportation modes are 71% bulk rail (almost half of
which is exported via bulk and container shipping); 14% ocean containers; 12% trucks; and 3%
piggy-back (truck to rail).
� Product storage capacity of more than 88,000 tons
� Life of operation projected to last at least 75 years
U.S. Borax Inc., Wilmington Operations – Borax’s primary North American shipping facility;
specialty products refining operation, located in the Port of Los Angeles.
� 114 employees with an average tenure of 15 years (94 hourly)
� Facility recently achieved 46,097 hours without a lost-time accident
� Bulk-loading terminal can load up to 1,000 metric tons per hour
� Product storage capacity of 35,000 tons
� Refinery includes five different processing areas and produces 14 high-value specialty
products
� Largest exporter of high-value dry bulk goods out of the Port of Los Angeles; ranks in top ten
shippers of ocean containers through Port of Los Angeles
� Only privately-owned berth in the Port of Los Angeles
South America Operations
Borax Argentina, S.A. – Borax’s primary South American business, operates open pit mines in
Tincalayu, Salta, as well as mines in Sijes, and Porvenir, and refinery facilities in Campo Quijano.
� 180 employees working at Tincalayu mine, Sijes mine, Porvenir mine and Campo Quijano
refinery
� Facility recently achieved 667,283 hours without a lost-time accident
� Tincalayu pit measures 1,500 meters wide, 500 meters long and 100 meters deep
� Main types of borates found in mines are tincal, ulexite, colemanite, hydroboracite and kernite
� Mine ore at a rate of about 100,000 tons per year

� Recent capital commitment of US$2.6 million to build new boric acid plant, built to use tailings
from ulexite concentration operations as feedstock.
� Refinery operation produces Borax TG, Neobor ® A, Dehybor ® A and Boroglas
� Recent capital investments of US$2.4 million to upgrade equipment, including installing new
furnaces, centrifuges and a magnetic concentration plant to improve efficiency and lower
environmental impact.
European Operations
Borax Espana S.A. – packing and distribution facility in Nules, Spain.
� 22 employees with an average tenure of nine years
� More than 10 years without a lost-time accident
� Packing plant, milling plant and warehouse facilities with 14,000 metric ton storage capacity
� Warehouse at Valencia adds another 12,000 metric ton storage capacity
� Strategically located in close proximity to heart of Spanish ceramic industry
� Throughput of 100,000 metric tons per year
� Facility has received eight safety awards from the Spanish Chemical Association in last
decade
Borax Français – refinery and distribution facility in Coudekerque, France.
� 98 employees with an average tenure of 19 years
� Facility recently achieved 91,353 hours without a lost-time accident
� Refinery includes five different processing areas (borax, boric acid and agricultural products)
� Product storage capacity of 3,500 pallets (4,200 metric tons)
Borax Rotterdam, N.V. – Primary European distribution facility in the Port of Rotterdam
� 49 employees working in self-supporting teams
� Facility recently achieved 129,427 hours without a lost-time accident
� A throughput of 260,000 tonnes of product per year
� Costs benchmarked against other companies in the Rhine Delta port; high safety and
environmental performance for comparable costs
� Received 2002 Horti Port Award for outstanding facilities and practices, including community
programs that help disadvantaged people join the mainstream workforce.