2008 iron ore price

Rio Tinto PLC
18 February 2008


2008 iron ore price negotiations


18 February 2008


Statement from Sam Walsh, Chief Executive of Rio Tinto Iron Ore:


'Rio Tinto is currently in negotiations with customers to establish the prices
it will receive for iron ore for the 2008 year. These discussions are
continuing.


'Rio Tinto notes the announced settlements between Vale and POSCO and Nippon
Steel Corporation for Carajas fine ore and Itabira fine ore.


'The Group is seeking further customer clarification about the settlements, and
in particular the settlement for Carajas ore, which is the relevant reference
ore for Rio Tinto products.


'In any event Rio Tinto will continue to negotiate to obtain a freight premium,
to reflect its proximity to Asia and its major customers.'


About Rio Tinto


Rio Tinto is a leading international mining group headquartered in the UK,
combining Rio Tinto plc, a London and NYSE listed company, and Rio Tinto
Limited, which is listed on the Australian Securities Exchange.


Rio Tinto's business is finding, mining, and processing mineral resources. Major
products are aluminium, copper, diamonds, energy (coal and uranium), gold,
industrial minerals (borax, titanium dioxide, salt, talc) and iron ore.
Activities span the world but are strongly represented in Australia and North
America with significant businesses in South America, Asia, Europe and southern
Africa.


Forward-Looking Statements


This announcement includes forward-looking statements. All statements other than
statements of historical facts included in this announcement, including, without
limitation, those regarding Rio Tinto's financial position, business strategy,
plans and objectives of management for future operations (including development
plans and objectives relating to Rio Tinto's products, production forecasts and
reserve and resource positions), are forward-looking statements. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of
Rio Tinto, or industry results, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements.

Such forward-looking statements are based on numerous assumptions regarding Rio
Tinto's present and future business strategies and the environment in which Rio
Tinto will operate in the future. Among the important factors that could cause
Rio Tinto's actual results, performance or achievements to differ materially
from those in the forward-looking statements include, among others, levels of
actual production during any period, levels of demand and market prices, the
ability to produce and transport products profitably, the impact of foreign
currency exchange rates on market prices and operating costs, operational
problems, political uncertainty and economic conditions in relevant areas of the
world, the actions of competitors, activities by governmental authorities such
as changes in taxation or regulation and such other risk factors identified in
Rio Tinto's most recent Annual Report on Form 20-F filed with the United States
Securities and Exchange Commission (the 'SEC') or Form 6-Ks furnished to the
SEC. Forward-looking statements should, therefore, be construed in light of such
risk factors and undue reliance should not be placed on forward-looking
statements. These forward-looking statements speak only as of the date of this
announcement. Rio Tinto expressly disclaims any obligation or undertaking
(except as required by applicable law, the City Code on Takeovers and Mergers
(the 'Takeover Code'), the UK Listing Rules, the Disclosure and Transparency
Rules of the Financial Services Authority and the Listing Rules of the
Australian Securities Exchange) to release publicly any updates or revisions to
any forward-looking statement contained herein to reflect any change in Rio
Tinto's expectations with regard thereto or any change in events, conditions or
circumstances on which any such statement is based.



Nothing in this announcement should be interpreted to mean that future earnings
per share of Rio Tinto plc or Rio Tinto Limited will necessarily match or exceed
its historical published earnings per share.



Subject to the requirements of the Takeover Code, none of Rio Tinto, any of its
officers or any person named in this announcement with their consent or any
person involved in the preparation of this announcement makes any representation
or warranty (either express or implied) or gives any assurance that the implied
values, anticipated results, performance or achievements expressed or implied in
forward-looking statements contained in this announcement will be achieved.


For further information, please contact:

Media Relations, London                             Media Relations, Australia

Christina Mills                                     Gervase Greene

Office: [phone]                        Office:  [phone]

Mobile: [phone]                        Mobile: [phone]
                                                    


Nick Cobban                                         Ian Head
                                                    
Office:  [phone]                       Office:  [phone]
                                                    
Mobile: [phone]                        Mobile: [phone]
                                                    

Media Relations, US

Nancy Ives

Mobile: [phone]

Investor Relations, London                          Investor Relations, Australia

Nigel Jones                                         Dave Skinner

Office: [phone]                        Office:  [phone]

Mobile: [phone]                        Mobile: [phone]


David Ovington                                      Simon Ellinor

Office:  [phone]                       Office:+ 61 (0) 7 3867 1068

Mobile: [phone]                        Mobile: [phone]

Investor Relations, North America

Jason Combes

Office:  [phone]

Mobile: [phone]


Email: [e-mail]


Website: www.riotinto.com

High resolution photographs available at: www.newscast.co.uk


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