Offer Update

Rio Tinto PLC
10 November 2000

        
              Rio Tinto announces details of Ashton Offer terms               

 
Rio Tinto's Notice of Variation is being dispatched to Ashton shareholders,
following the announcement of its increased Offer for Ashton on 6 November
2000. The Offer is now due to close at 7.30pm AEDT on Monday, 27 November
2000.
 
The details of Rio Tinto's increased Offer, previously announced, are:
 
     $2.20 cash for every Ashton Share, or 
     1 Rio Tinto Limited Share for every 14 Ashton Shares, or  
     1 Rio Tinto plc Share for every 14 Ashton Shares, or 
     any combination of the above. 

As at 8 November 2000, Rio Tinto had acquired 49.8% of Ashton Mining Limited.
This follows the earlier receipt of acceptances from Ashton's largest
shareholder, Malaysia Mining Corporation Berhad, for its entire Ashton
shareholding.
 
Rio Tinto will support the Ashton Directors' intentions to pay a special
dividend of $0.20 per Ashton Share, fully franked and payable by Ashton
('Ashton Special Dividend'). The payment of the Ashton Special Dividend is at
the discretion of the Ashton Board.
 
If the Ashton Special Dividend is declared and shareholders choose to receive
it before their Ashton Shares are transferred, their consideration from Rio
Tinto will be adjusted to take account of the Ashton Special Dividend.
 
The following table sets out the alternatives from which shareholders may
choose:
 

                                                                              
                            No Ashton Special            Ashton Special       
                            Dividend                     Dividend *           
  Cash alternative          $2.20 per Ashton             $2.00 plus $0.20     
                            Share or                     Ashton Special       
                                                         Dividend per Ashton  
                                                         Share or    
         
  Rio Tinto Limited Share   1 Rio Tinto Limited          1 Rio Tinto Limited  
  alternative               Share for every 14     OR    Share for every 15.4 
                            Ashton Shares or             Ashton Shares plus   
                                                         $0.20 Ashton Special 
                                                         Dividend per Ashton  
                                                         Share or   
          
  Rio Tinto plc             1 Rio Tinto plc              1 Rio Tinto plc      
  Share alternative         Share for every 14           Share for every 15.4 
                            Ashton Shares or             Ashton Shares plus   
                                                         $0.20 Ashton Special 
                                                         Dividend per Ashton  
                                                         Share or     
        
                            any combination of           any combination of   
                            the above.                   the above.     
      
* The share consideration has been adjusted for the Ashton Special Dividend 
  in the same proportion as the cash consideration. Shareholders may only     
  make a dividend election for all of their Ashton shares.   
                 
The Offer for Ashton is unconditional. Rio Tinto has amended the payment
terms to allow Ashton shareholders to accept its Offer now and still be
eligible to receive the Ashton Special Dividend, if they so choose.
 
Rio Tinto intends to send payment of its consideration to Ashton shareholders
within five business days of the receipt of valid acceptances.
 
The Ashton Board will determine the timing of the payment of the Ashton
Special Dividend. In the event that Ashton declares the Ashton Special
Dividend, shareholders will receive the dividend shortly after the dividend
payment date.
 
If for whatever reason, the Ashton Special Dividend is not declared by 27
November 2000, shareholders will receive the balance of their consideration
from Rio Tinto in the manner nominated by them on their Acceptance Forms.
 
Shareholders who have already accepted Rio Tinto's Offer will receive a
separate letter shortly to allow them to revise the terms of their
acceptance, should they wish to do so.
 
Details of the revised offer and how to accept it will be available on the
Rio Tinto website at www.riotinto.com. 
 
 
 
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