MONTREAL RIO TINTO ALCAN has begun formalizing arrangements for its Rio Tinto Alcan Canada Fund, a $200-million commitment toward its promise to continue the former Alcan's commitments to communities in which it operates. The endowment will be built up over a five year period beginning in July 2008.
The fund mandate is to support such undertakings as the Montreal International Jazz Festival, the Montreal Neurological Institute, the Montreal Planetarium and numerous other projects in the Saguenay, Quebec, and northern British Columbia. Other initiatives that focus on sustainable development may be added to the list in the future.
"The creation of the Rio Tinto Alcan Canada Fund caps a year in which Rio Tinto has announced significant projected investments in Canada, potentially totalling over US$8 billion," said Dick Evans who will chair the board. "Rio Tinto believes firmly that it is in our strategic interest to support local communities as we expand our footprint and capacities in Canada."
For more information on the Rio Tinto Alcan Canada Fund, please visit www.riotinto.com/riotintoalcan and click on "Our Approach" or send an email to FondsRTACanadaFund@riotinto.com.
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