Copper exploration in Chile

Rio Tinto PLC
24 January 2008



Rio Tinto signs joint venture agreement with CODELCO for copper exploration in
Chile



24 January 2008



Rio Tinto has signed an exploration joint venture agreement with CODELCO, the
world's largest copper producer. Under the terms of the agreement, Rio Tinto and
CODELCO's 100%-owned subsidiary SCM Los Andes will jointly contribute mineral
rights in Chile to the joint venture, which will be managed by Rio Tinto. This
is the first joint venture that Rio Tinto has entered into with state-owned
CODELCO.



Bret Clayton, chief executive, Copper, Rio Tinto said 'This landmark agreement
combines the strengths of two highly experienced copper producers.  Together, we
hope to unlock value from a highly prospective copper belt in the biggest copper
producing country in the world.  We look forward to a long and deepening
relationship with CODELCO'.



The property to be explored is the Exploradora prospect in northern Chile.  Rio
Tinto has the option to earn a 55 per cent interest in the prospect through an
exploration investment of US$20 million, with the potential to increase
ownership to 60 per cent.



 Rio Tinto has been exploring in Chile since 1989 and has several copper
exploration properties under title which are scheduled for drill-testing in
2008.



About Rio Tinto



Rio Tinto is a leading international mining group headquartered in the UK,
combining Rio Tinto plc, a London 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' within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. 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
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                                     Amanda Buckley
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]

                                                    Investor Relations, North America
David Ovington                                      Jason Combes
Office:  [phone]                       Office:  [phone]
Mobile: [phone]                        Mobile: [phone]


Email: [e-mail]


Website: www.riotinto.com
High resolution photographs available at: www.newscast.co.uk






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