Rio Tinto to provide metal for 2012 Olympic medals

Published Apr. 13, 2011 6:40 a.m. ET

foxsports

The gold, silver and copper that will be used in the 4,700 medals at the 2012 London Olympics will be provided by international mining company Rio Tinto.

By signing up as a tier-three backer of the games, Rio Tinto's sponsorship will be worth about $16 million.

Rio Tinto has supplied the metals for Olympic gold, silver and bronze medals once before - at the 2002 Salt Lake City Games.

The metals for the London medals will come from the Kennecott Utah Copper mine in Salt Lake City and the Oyu Tolgoi site in Mongolia.

Rio Tinto chief executive Tom Albanese says the company is ''excited to have the special job once again of digging the ore that will become treasured medals for the world's elite athletes.''