Increasingly, mineral operations need to manage water as a key business asset. Managing water solely as an environmental issue leaves a business exposed to social, cultural and economic risks associated with water. Adopting a company-wide strategic approach, which takes account of the true value of water will provide businesses with opportunities and risk protection. Rio Tinto has recognised the business imperative for water stewardship and has responded by producing the Rio Tinto Water Strategy. This strategy commits the company to managing water assets in a responsible manner, taking account of environmental, social and economic values. To incorporate the true value of water in site decision making, a new set of tools is required at the operational level. A key part of the strategy focuses on developing a framework to value water based on case study examples from around the Group. This paper presents progress on the company's experiences in developing and implementing the water strategy._x000D_
FORMAL CITATION:Ringwood, K, 2006. The value of water in Rio Tinto, in Proceedings Water in Mining 2006, pp 131-136 (The Australasian Institute of Mining and Metallurgy: Melbourne).