BORON, California - U.S. Borax Inc., the world leader in borate supply and science, is one of only five California companies to receive Governor Schwarzenegger's 2004 Environmental and Economic Leadership Awards (GEELA) for sustainable practices. Borax is also the only mining company to be honored among all GEELA award categories. The award was presented December 1 at the California Environmental Protection Agency headquarters in Sacramento.

"Each one of these recipients has shown a deep commitment to balancing environmental preservation and protection with the need to keep California's economy growing. I commend them for their efforts," said Governor Schwarzenegger.

Borax's commitment to sustainability stretches back to the early 1900s when the company donated its first land holdings and lobbied the federal government to protect Death Valley as a National Monument. In 2000, the company was the first among parent company Rio Tinto's 80 worldwide mining operations to establish a program to measure and improve how its practices and products contribute to a sustainable future. That program has become a model for Rio Tinto companies and Borax customers worldwide.

"Borax's goal is to provide minerals essential to industries and economies around the world without harming people or the environment. Its sustainable development program is designed to engage its 1,400 employees in achieving that goal, demonstrate its value to customers in nearly 100 countries, and raise standards throughout the mining industry," said Borax Chief Executive Gary Goldberg.

Highlights of Borax's 2003 sustainability performance include:

• Achieving the best workplace safety record in company history - a performance five times better than the national average, and recognized by the federal Mining Safety & Health Administration as the best among large U.S. mining operations.

• Establishing development programs to promote employees' sustained viability in the workforce, and reimbursing job-related education costs for employees.

• Investing $300,000 in air monitoring programs and health experts to address a few community members' concerns about air quality in the neighborhood next to Borax's primary mine in Boron, California.

• Maintaining ISO 14001 certification of its environmental management systems

• Establishing a climate change policy to reduce greenhouse gas emissions by three percent by 2008 and joining the California Climate Action Registry to voluntarily report its performance.

• Lowering fuel use by five percent in 2003 and water use by 16 percent since 1999.

• Earning membership in US EPA's National Performance Track Program - a program that recognizes only about 300 companies nationwide for environmental excellence - and earning recognition from the California State Assembly and the Kern County Integrated Waste Management Board for outstanding environmental performance.

• Establishing a formal partnership with Victor Valley College Horticulture Department that provides $20,000 in annual funding to students who help Borax rehabilitate nearly 50 acres of land per year by propagating native plant species that provide habitat for desert wildlife.

• Contributing to California's economic recovery by increasing production by six percent, sales by four percent, productivity per employee by two percent, and by contributing one percent of pretax profits to support programs that sustain communities surrounding Borax operations.

• Leading the global borate industry in conducting and commissioning research on borates' health and safety effects to ensure their safe handling and use, and completing Life Cycle Assessments to quantify the full range of environmental effects associated with manufacturing its major products.

"Sustainable development is the guiding principle for everything we do - from mining minerals and managing natural resources, to interacting with and safeguarding employees and neighbors," said Gary Goldberg. "We believe that setting high standards and reporting our performance helps maintain the public trust we have relied on for more than a century. That trust allows us to continue generating products essential to the food we eat, the houses we live in and hundreds of products we use every day"

Established in 1993, GEELA honors individuals, organizations and businesses that demonstrate exceptional leadership in building private-public partnerships while conserving the environment. Borax was nominated for the award by the Department of Conservation.

About Borax
Borax owns and operates one of the richest borate deposits on the planet in California's Mojave Desert. The company supplies nearly half the world's demand for refined borates, key ingredients in fiberglass, glass, ceramics, detergents, fertilizers, wood preservatives, flame retardants and other products. Borax is the acknowledged world leader in borate technology, research and development, and a member of the Rio Tinto group, a world leader in finding, mining and processing the earth's mineral resources. For more, visit www.borax.com.