Holding in Labrador

Rio Tinto PLC
20 April 2001

                                                                              
               Rio Tinto acquires additional Labrador Iron Ore                
                          Royalty Income Fund units                           

 
Rio Tinto Canadian Investments Limited announced on 19 April 2001 that it has
acquired an aggregate of 59,500 units of Labrador Iron Ore Royalty Income
Fund through the facilities of The Toronto Stock Exchange. Such units were
acquired for C$14.25 per unit.
 
Rio Tinto has purchased an aggregate of 78,800 units of the Fund since the
commencement of its bid at an average price of C$14.25 per unit.
 
Rio Tinto now owns an aggregate of 4,389,031 units of the Fund, representing
approximately 14.6% of the outstanding units.

 
For further information, please contact:
 

                                                                             
    CANADA                      LONDON                  AUSTRALIA            
    Jonathan Murrin             Media Relations         Media Relations      
    [phone]           Lisa Cullimore          Ian Head             
                                [phone]    [phone]  
                                                                             
                                Investor Relations      Investor Relations   
                                Peter Jarvis            Dave Skinner         
                                [phone]    [phone]  
                                                                             
                                Jonathan Murrin         Daphne Morros        
                                [phone]    [phone]  
    Website: www.riotinto.com