RioNor Exploration

Rio Tinto PLC
25 April 2006

Norilsk Nickel and Rio Tinto announce the creation of RioNor Exploration





Norilsk Nickel, Russia's largest mining company, and Rio Tinto, one of the
world's largest mining companies, today announced the creation of RioNor
Exploration, a joint exploration and development company in Russia.



RioNor Exploration is a limited liability company registered in Russia, owned 51
per cent by Norilsk Nickel and 49 per cent by Rio Tinto. Its headquarters will
be located in Moscow.



At the first meeting of the board of directors, Maxim Finsky of the Norilsk
Nickel group was nominated as chairman of the board of directors, and Bruno
Hegner of the Rio Tinto Group was nominated as the general director of RioNor
Exploration.



Initial efforts of the company will concentrate on exploration opportunities in
the southern regions of the Siberian and Far-Eastern Federal Districts of
Russia.



Maxim Finsky, chairman of RioNor Exploration and deputy general director of
Norilsk Nickel, said: 'Rio Tinto and Norilsk Nickel have made another step
forward in developing our cooperation. Now we have in place the vehicle which
will enable the joint venture to explore the opportunities available in the
targeted areas.  We are progressing well in setting up necessary business
processes and building the organization and exploration team'. He commented that
the work programmes for the first stage of the cooperation project activity are
already under way.



Earlier this year the companies signed a co-operation protocol in the Ministry
of Natural Resources, followed by an agreement that established the formal terms
governing their joint venture. The exploration and development company was
created in accordance with the signed agreement.





Background notes to editors



Norilsk Nickel



MMC Norilsk Nickel is the world's largest producer of nickel and palladium, and
a major producer of platinum, copper and cobalt. MMC Norilsk Nickel is listed on
several Russian exchanges (MICEX, RTS, GMKN), ADRs are traded over the counter
in New York (NILSY US), London (MNOD LI) and Berlin (NNIA GR).



Rio Tinto



Rio Tinto is one of the world's leading mining groups, with a market
capitalisation of about US $78 billion. Major products include aluminium,
copper, diamonds, energy products, gold, industrial minerals (borates, titanium
dioxide, salt and talc) and iron ore. It is listed on both the London and
Australian stock exchanges and has an ADR listing on the New York Stock
Exchange.





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