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For Immediate Release
July 10, 2002
Susan Keefe
661-287-5484

BORAX BREAKS RECORDS FOR BORIC ACID PRODUCTION

12% increase achieved through equipment upgrades and maintenance reliability improvements; operation reduces fresh water usage by seven percent in same period

VALENCIA, California - Rio Tinto Borax, the world's leading supplier of refined borates and the world's largest boric acid supplier, announced today that the company's boric acid production team achieved its highest daily and monthly productivity rate in May 2002, putting the company on track for a 12 percent increase in boric acid production this year.

Borax's boric acid plant, situated at its primary mine site in California's Mojave Desert, was built in 1980. Recent advances - including equipment upgrades, maintenance reliability improvements and targeted debottlenecking efforts - have paid off with the highest-ever daily production recorded last month. The company also achieved an aggressive target to reduce water usage by seven percent per ton of boric acid produced as part of its improvement efforts. Both advances were accomplished while improving the unparalleled quality of Borax's boric acid.

"What sets Borax apart from competitors is its unmatched reputation for the reliability and quality of its products and services. But excellent products and services also translate to higher productivity, lower natural resource usage and improved customer service. This is an excellent example of how our commitment to sustainable development produces value for the company, our customers and society at large," said David Peever, Rio Tinto Borax's Chief Commercial Officer.

The productivity breakthrough is timely given the rise in boric acid demand as global economies recover. Borax is reaching out to customers now to ensure that its products and services are aligned with their need for value over the long term.

More than one-quarter of Borax's annual expenditures are devoted to providing customers with value-added services - including technological, distribution, regulatory and communications support. Borax's strategy has been to work with customers to treat borate purchases as a value-conscious partnership rather than a commodity purchase.

"Our first goal when it comes to commercial transactions is to determine the value we can bring to customers," said Peever.

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