Re Agreement

Rio Tinto PLC
17 November 2000

       
The following was released in Australia earlier today.
 

                   COAL & ALLIED AND ESSO JOINTLY ANNOUNCE                    
                     AGREEMENT FOR THE SALE AND PURCHASE                      
                          OF THE LEMINGTON COAL MINE                          


SINGLETON, NSW, FRIDAY, NOVEMBER 17, 2000, 10.30am - Coal & Allied Operations
Pty Ltd and Esso Australia Resources Pty Ltd, a subsidiary of Exxon Mobil
Corporation, today jointly announced that they have signed a Sale and
Purchase Agreement for Coal & Allied to acquire from Esso for US$134 Million
in cash the Lemington Mine and related interests, including shares in
Newcastle Coal Shippers Pty. Limited and Mount Thorley Coal Loading Limited.
 
In 1999, the Lemington Mine produced 3.4 million tonnes of thermal and
semi-soft coal, all of which was exported through the Port of Newcastle.
 
Hunter Valley Operations is one of Coal & Allied's two mining operations in
the Hunter Valley, New South Wales. The Lemington Mine adjoins Hunter Valley
Operations.
 
Macquarie Bank Limited acted as financial advisor to Esso.
 


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
 
 

Note to Editors 

Rio Tinto owns 71 per cent of Coal & Allied.



EN 
AGRUBRKRRURAARA