Consideration for FCX shares

Rio Tinto PLC
25 March 2004



Rio Tinto consideration for FCX shares fixed


Rio Tinto announced on 22 March that agreement had been reached with Freeport
McMoran Copper & Gold Inc ('FCX') for FCX to acquire for cash all of Rio Tinto's
23,931,100 FCX shares. FCX has today announced the pricing of its convertible
preferred stock issue to finance the purchase of the shares. As a consequence,
Rio Tinto will receive net cash proceeds of $882 million.


The transaction, which is conditional on the completion of FCX's convertible
preferred stock issue, is expected to be finalised on 30 March.



For further information, please contact:

LONDON                                               AUSTRALIA

Media Relations                                      Media Relations

Lisa Cullimore                                       Ian Head
Office: [phone]                         Office: [phone]
                                                     Mobile: [phone]

Investor Relations                                   Investor Relations
Peter Cunningham                                     Dave Skinner
Office: [phone]                         Office: [phone]
Mobile: [phone]                         Mobile: [phone]
Richard Brimelow                                     Susie Creswell
Office: [phone]                         Office: [phone]
Mobile: [phone]                         Mobile: [phone]

Website: www.riotinto.com


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