Icebergshares

An interesting quote taken from the Rio Tinto website.


"
Our objective is to safely discover, on average, one “Tier 1” deposit per year. These are what others may call “company-maker” deposits: the largest, lowest-cost resources that are profitable at all parts of the commodity cycle. We prioritise our exploration programmes on a global basis so that we pursue only the most attractive opportunities. We determine priorities in consultation with the product groups. Our decisions are driven not by location or choice of commodity, but by the quality of each opportunity.
Some of our operations, such as Weipa, Tom Price and Rössing, are Tier 1 greenfield discoveries by Rio Tinto where value is still being realised after more than 40 years of production. Since 2002, we have made the following Tier 1 discoveries:

Year	Discovery	Commodity	Location
2002	Resolution	Copper	US
2004	Simandou	Iron ore	Guinea
2005	La Granja	Copper	Peru
2005	Caliwingina	Iron ore	Australia
2008	Sulawesi	Nickel	Indonesia
2008	Mutamba	Titanium	Mozambique
2009	Jadar	Lithium/borates	Serbia
2011	Amargosa	Bauxite	Brazil

We operate the majority of exploration programmes ourselves rather than outsourcing to others. This ensures that we retain management control over our performance in the areas of safety, environment and community relations, as well as corporate governance. It also means we can keep the exploration programme focused on only those targets that are important to Rio Tinto. We will, however, partner readily with smaller exploration companies if that gives us access to attractive opportunities, tenure, local knowledge, or operational skills that we do not possess in-house."
http://www.riotinto.com/exploration-154.aspx


It really helps to underline both the rarity and importance of Rio Tinto teaming up with Savannah Resources on the Mutamba Titanium deposit.


Rio Tinto considered/consider this to be a COMPANY MAKING Tier 1 find for them....


They will partner with smaller exploration companies, but only if they have operation skills that they do not possess.......This speaks more highly of Savannah and their team than any ramping by any blogger on AIM.


WELL DONE.