Escondida Norte

Rio Tinto PLC
16 June 2003

Escondida Norte





The joint venture partners in the Escondida copper mine in northern Chile today
announced approval of the US$400 million Escondida Norte project.  Rio Tinto has
a 30 per cent interest in Escondida and its share of the project expenditure
will be US$120 million.



The satellite Norte deposit will provide mill feed to maintain capacity at
Escondida above 1.2 million tonnes per annum of copper in concentrate and
cathode to the end of 2008 as existing Escondida mine grades decline.  First
production from Norte is expected in the fourth quarter of 2005.



Escondida Norte's combined proved and probable ore reserves are estimated at 526
 million tonnes of sulphide ore at an average copper grade of 1.42% and a
cut-off grade of 0.7%, giving an ore reserve life of approximately 17 years.



The other joint venture partners are BHP Billiton, who is also the operator,
with a 57.5 per cent interest in the mine; Japan Escondida Corporation (owned
beneficially by Mitsubishi Corporation, Mitsubishi Materials Corporation and
Nippon Mining and Metals Company Limited) with a 10 per cent interest; and
International Finance Corporation (2.5 per cent).







The information in this report that relates to Ore Reserves is based on
information compiled by Dr. Jonathan M. Gilligan Ph.D., B.Sc. (Hons), FGS,
MAusIMM, who is a Member of the Australian Institute of Mining and Metallurgy
and is a full time employee of Minera Escondida Ltda.  Dr. Gilligan has
sufficient experience, which is relevant to the style and type of deposit and to
the activity which he is undertaking to qualify as a Competent Person as defined
in the 1999 edition of the 'Australasian Code for Reporting of Minerals
Resources and Ore Reserve'.  The Competent Person consents to the inclusion in
this report of the matters based on their information in the form and context in
which they appear.





For further information, please contact:

LONDON                                               AUSTRALIA

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

Investor Relations                                   Investor Relations
Peter Cunningham                                     Dave Skinner
Office:  [phone]                        Office:  [phone]
Mobile: [phone]                         Mobile: [phone]
Richard Brimelow                                     Daphne Morros
Office:  [phone]                        Office:  [phone]
Mobile: [phone]                         Mobile: [phone]

Website: www.riotinto.com




                      This information is provided by RNS
            The company news service from the London Stock Exchange