Lihir Gold 2nd Qtr Report

Rio Tinto PLC
30 July 2001


The following was released by Lihir Gold Limited. The full text of the press
release is on Rio Tinto's website at: www.riotinto.com 
 
 
                  Second Quarter Production and Exploration                   
                  Report/ Financial Results to 30 June 2001                   
 
 
Highlights Of The Quarter/Half-Year  
 
Production 
 
* Gold production for the Quarter was 159,966 ounces, giving a strong
half-year gold production of 346,794 ounces. 

Costs 
 
* Total Cash Costs for the Quarter were US$226/oz and US$205/oz for the
half-year. 
* Gross Cash Costs for the Quarter were US$217/oz and US$193/oz for the
half-year. 

Revenue 
 
* An average gold price of US$346 was realised in the half-year. 
* Lihir's mark to market value of its hedgebook is a positive US$63.7
million. 

Financial Results 
 
* Lihir recorded an after tax profit of US$21.0 million for the half-year. 
* Operating cashflow excluding debt service was US$21.1 million. 
* US$25 million debt was repaid. 

Reserves and Exploration 
 
* 12,654 metres were drilled during the Quarter, with results continuing to
be at, or above, expectations. 
 

CEO's REVIEW 
 
Commenting on the results, the CEO, Alan Roberts said, 'A healthy profit
result for the half year of US$21 million together with the generation of
US$21m in cash from operations is a culmination of the many operational
improvements over the past 12 months. Autoclave throughput peaked at a record
177tph in June; the 12th generator was commissioned the first week of July
and so the program of continuous de-bottlenecking has now moved to the
grinding circuit. With Board approval for a pebble crusher in the grinding
circuit we can look forward to significant improvement in plant throughput.
With the continuation of the strong drilling results, net debt of US$11
million and a hedge book well in the money the outlook for Lihir Gold is very
positive.'
 
 
Note to Editors 
 
Lihir Gold is 16.3 per cent owned by Rio Tinto.
 
 
 
For further information, please contact:

                                                                  
              LONDON                     AUSTRALIA                
              Media Relations            Media Relations          
              John Hughes                Ian Head                 
              + 44 (0) 20 7753 2331      [phone]      
              Investor Relations         Investor Relations       
              Peter Cunningham           Dave Skinner             
              + 44 (0) 20 7753 2401      [phone]      
              Jonathan Murrin            Daphne Morros            
              + 44 (0) 20 7753 2326      [phone]      

Website: www.riotinto.com