Offer Update

Rio Tinto PLC
6 November 2000

                     Rio Tinto acquires 49.82% of Ashton                      
                                                                              
                     and announces increase in its Offer                      

 
Rio Tinto has acquired a relevant interest in 161,379,101 Ashton shares,
representing approximately 49.82% of the company. This follows receipt of
acceptances from Malaysia Mining Corporation Berhad in respect of its entire
49.72% holding.
 
Following these acceptances, Rio Tinto intends, as soon as practicable, to
take the necessary steps to increase its Offer to the following:
 
(a)      $2.20 cash for each Ashton share;
 
(b)      1 Rio Tinto Limited share for every 14 Ashton shares, or 1 Rio Tinto
         plc share for every 14 Ashton shares; or
 
(c)      any combination of the above.
 
Rio Tinto notes that Ashton has already announced in relation to the De Beers
bid that it intends to pay a special fully franked dividend of $0.20 per
share. Rio Tinto would support a similar dividend in respect of Rio Tinto's
Offer. If Ashton declares such a dividend, Rio Tinto will give Ashton
shareholders the right to elect to receive the dividend. In that case, the
amount of that dividend will be deducted from the Offer consideration.
 
Rio Tinto's chief executive, Mr Leigh Clifford, said that Rio Tinto was
pleased to have secured Malaysia Mining Corporation's interest in Ashton.
 
'This will ensure the continuation of the successful direct marketing
arrangements and strengthen the future prospects of the Argyle diamond mine,'
he said.
 
Rio Tinto's Offer is unconditional and open for acceptance.
 
Rio Tinto will send payment to Ashton shareholders within five business days
of a valid acceptance, in accordance with the terms of the Offer.
 
Rio Tinto has extended the Offer initially to 13 November 2000 to allow time
to effect the increase. This will then automatically extend the Offer period
by a further fourteen days from the date of the formal variation.
 
 
For further information, please contact:
    
 
Media Relations                     Investor Relations 
 
Lisa Cullimore                      Peter Jarvis
+ 44 (0) 20 7753 2305               + 44 (0) 20 7753 2401
 
Website: www.riotinto.com