Coal & Allied Final Results

Rio Tinto PLC
29 January 2001


Coal & Allied Industries, an Australian public company, which is 70.9 per cent
owned by Rio Tinto, issued the following in Australia today.  All dollars are
Australian unless otherwise shown.


                                Coal & Allied                                 

                 delivers another strong performance in 2000                 

Coal & Allied has delivered a strong full year result with net profit after
tax of $123.5 million to 31 December 2000. This compares with a profit of
$67.6 million after tax for the same period last year. The profit for the
2000 year includes an abnormal gain of $33 million after tax relating to the
settlement of a long term coal contract.
 
Coal shipments for the full year were 13.2 million tonnes, up 1.6 million
tonnes compared with 1999. The increased volumes and a weaker Australian
currency combined to offset the effect of continued weak US dollar coal
prices during the course of the year. Sales revenue increased by $86 million
to $614 million.
 
Production for the year was 13.0 million tonnes, up 1.1 million tonnes
compared with the same period last year. The increased production reflects
the acquisition of the Howick mine in the second half of 1999.
 
Chairman Barry Cusack said, 'This is a very pleasing result. I would like to
congratulate all employees for their commitment and sustained performance,
which has made Coal & Allied the pre-eminent miner in the Hunter Valley,' Mr
Cusack said.
 
'With new enterprise agreements in place at both Hunter Valley Operations and
Mount Thorley Operations and strengthening coal prices, the outlook for 2001
is very positive.'
 
'The acquisitions of Peabody's Australian coal assets and the Lemington Mine
will add considerable strength to Coal & Allied's base in the Hunter Valley.
However, increased interest costs following the purchases will affect profit
in the short term,' said Mr Cusack.
 
In June 2000, a special interim dividend was paid of 200 cents per ordinary
share franked to 55 cents at the rate of 36%, and a dividend of 1.75 cents
per preference share fully franked at a tax rate of 36%.

Given the size and timing of the recent acquisitions and consequent increase
in debt, the directors felt it was not appropriate to declare a dividend on
ordinary shares for the second half. A dividend of 1.75 cents per preference
share, fully franked at a tax rate of 34%, has been declared.  
 
 
 
Coal & Allied full year results 2000
                                                                            
  Full year to 31 December                     2000        1999       Change  
  Sales revenue                                $614.0m     $528.1m    +16%    
  Profit after tax and before abnormal items   $90.5m      $71.3m     +27%    
  Net profit after tax and abnormal items      $123.5m     $67.6m     +83%    
  Operating cash flow                          $132.3m     $74.4m     +78%    
  Total dividends (cents per share)            200 cents   80 cents   +150%   
  Coal production *                            13.0 mt     11.9 mt    +9%     
  Coal shipments *                             13.2 mt     11.6 mt    +13%    
 
* Production and shipments are on a 100% basis. Shipments exclude coal
purchase trading.
 
 
For further information, please contact:
 
 
LONDON 
 
Media Relations                   Investor Relations 
Lisa Cullimore                    Peter Jarvis
+ 44 (0) 20 7753 2305             + 44 (0) 20 7753 2401
 
AUSTRALIA 
 
Media Relations                   Investor Relations 
Ian Head                          Dave Skinner
[phone]               [phone]
                              
                                  Daphne Morros
                                  [phone]
Website: www.riotinto.com