Statement re Kennecott Utah

Rio Tinto PLC
24 June 2003


Kennecott Utah Copper and unions reach labour agreement

Rio Tinto's wholly owned Kennecott Utah Copper Corporation (KUC) today announced
an impasse that began October 1, 2002 between KUC and its labour unions has been
resolved by joint agreement.  A ratification vote by union membership was held
yesterday, and the new collective bargaining agreement will expire September 30,
2009.

'There have been a few changes and modifications to the company's final offer,
which we put on the table on October 1, 2002, and there are a number of benefit
enhancements and incentives for hourly represented employees that, I feel, make
this agreement a good deal for everyone,' said Bill Champion, KUC President and
Chief Executive Officer.

The agreement provides for annual wage increases. The first year of the contract
includes an average hourly increase of approximately 80 cents over the terms of
the expired contract. Health care coverage for employees and retirees will
continue, which includes participant contributions.  The company has also
established a Voluntary Employee Benefit Association (VEBA) that will provide
retiree health care benefits after September 30, 2009.

Champion said, 'A very important aspect of the agreement for the company will be
increased flexibility for personnel and work assignments.'

During the seven-and-a-half-month impasse, there were no work stoppages. The
company and its labour unions finally reached a tentative agreement in mid June.


For further information, please contact:
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Website: www.riotinto.com


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