Sale of Brazilian gold mine

Rio Tinto PLC
09 November 2004


Rio Tinto to sell interest in Brazilian gold mine


Rio Tinto and Kinross Gold Corporation (Kinross) have signed a letter of intent
for the sale of Rio Tinto's 51 per cent interest in Rio Paracatu Mineracao
(RPM), the owner of the Morro do Ouro mine in Brazil.

The proposed consideration for Rio Tinto's interest in RPM and its immediate
holding companies is US$260 million, payable in cash on completion.  The
consideration is subject to a working capital adjustment based on the working
capital position of RPM and its immediate holding companies at the date of
completion.

The sale is subject to Kinross and Rio Tinto reaching agreement on all terms and
entering into a definitive agreement.  The transaction is expected to be
completed by the end of the year.



For further information, please contact:

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Website: www.riotinto.com


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