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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
Page 1 and 2: Rio Tinto North America Analyst Tou
Page 3 and 4: Preston Chiaro President and CEO Da
Page 5 and 6: Strengths • Long-life, low cost,
Page 7 and 8: • Differentiate product and servi
Page 9 and 10: • Cost and productivity review -
Page 11 and 12: 100% 80% 60% 40% 20% 0% Sustainable
Page 13 and 14: What are we trying to accomplish?
Page 15 and 16: Boron Operations Wilmington
Page 17 and 18: Nules Valencia Borax España Borax
Page 19 and 20: Headcount Headcount 36 34 32 30 28
Page 21 and 22: Tons (000's) 120,000 100,000 80,000
Page 23 and 24: Wilmington • July 2001 agreement
Page 25 and 26: Commercial Director Europe David Pe
Page 27 and 28: IMCC 6% S America 7% AB & Other (RT
Page 29 and 30: 1998 1999 2000 2001 Refined 160 196
Page 31 and 32: Gordon Hamilton Growth Through New
Page 33 and 34: Horizon 3 Horizon 2 Horizon 1 Idea
Page 35: Concept Borates in residential wood
Page 39: � Recent capital commitment of US

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