Cortez Gold Mine interest

Rio Tinto PLC
05 March 2008


Rio Tinto completes sale of Cortez Gold Mine interest


5 March 2008


Rio Tinto subsidiary Kennecott Explorations (Australia) Ltd has completed the
sale of its 40 per cent interest in the Cortez gold mine in Nevada, USA to a
subsidiary of its joint venture partner, Barrick Gold Corporation, giving
Barrick 100 per cent ownership.

The sale price includes a cash consideration of US$1.695 billion.  In addition,
Rio Tinto will benefit from a deferred bonus payment in the event of a
significant discovery of additional reserves and resources at the Cortez gold
mine and will also retain a contingent royalty interest in the future production
of the property.

The transaction, which was announced on 21 February 2008, is part of Rio Tinto's
planned programme to divest at least US$15 billion of assets. Rio Tinto has also
announced the sale of Greens Creek silver, gold, zinc and lead mine in Alaska
for US$750 million, meaning the Group is on track to achieve almost one quarter
of its target of realising asset sales of US$10 billion in 2008.

In November 2007, Rio Tinto announced the results of its overall strategic
review of the Group's asset portfolio following its acquisition of Alcan.
Options are also being explored to divest Rio Tinto Energy America (coal), Rio
Tinto Minerals' talc business and borates business, Rio Tinto Alcan Packaging,
Rio Tinto Alcan Engineered Products, Rio Tinto's interest in the Northparkes
copper mine in Australia and Rio Tinto's Sweetwater (USA) and Kintyre
(Australia) uranium assets.


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' 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
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 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                             Ian Head
Office: [phone]                Office: [phone]
Mobile: [phone]                Mobile: [phone]

Nick Cobban                                 Amanda Buckley
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]

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


                      This information is provided by RNS
            The company news service from the London Stock Exchange