Cortez Gold Mine sale

Rio Tinto PLC
21 February 2008


Rio Tinto reaches agreement to sell its Cortez Gold Mine interest for US$1.695
billion plus retained royalty interest

21 February 2008

Rio Tinto has reached agreement on the second sale under its planned programme
to divest at least US$15 billion of assets.  The Group has signed an agreement
to sell its interest in the Cortez gold mine in Nevada, USA to a subsidiary of
its joint venture partner, Barrick Gold Corporation.

The Cortez gold mine is a joint venture between Rio Tinto subsidiary Kennecott
Explorations (Australia) Ltd (40 per cent) and Barrick subsidiary Barrick
Cortez, Inc. (60 per cent). The property is located in Crescent Valley, 75 miles
south west of Elko, Nevada and is a complex of several open pit mines.  The
Cortez joint venture is operated by Barrick Cortez, Inc.

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. There is no financing condition and closing of the transaction
is expected to occur in March 2008.

'Just last week we announced the sale of Greens Creek silver, gold, zinc and
lead mine in Alaska for US$750 million, so we are on track to achieve almost one
quarter of our target of realising asset sales of US$10 billion in 2008.  This
illustrates that high quality assets will continue to attract financially strong
strategic buyers,' said Guy Elliott, chief financial officer of Rio Tinto.

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.

About The Cortez Gold Mine

The Cortez Gold Mine, which began operation in 1968, is a joint venture of
Kennecott Minerals Company (40 per cent), and Barrick Cortez, Inc. (60 per
cent). The operation is located in Crescent Valley, 75 miles southwest of Elko,
Nevada. Operated by Barrick Cortez, Inc., the Cortez joint venture is a complex
of several open pit mines.

Cortez utilizes carbon-in-leach and oxide heap leach technology for gold
recovery. Kennecott's share of 2007 Cortez gold production was 215,000 ounces of
dore. The mill facility includes crushing, grinding, carbon-in-leach and
carbon-in-column circuits and gold dore casting.


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



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