Holding in Labrador

Rio Tinto PLC
23 April 2001


               RIO TINTO ACQUIRES ADDITIONAL LABRADOR IRON ORE                
                          ROYALTY INCOME FUND UNITS                           

 
Rio Tinto Canadian Investments Limited announced that it has today acquired
an aggregate of 84,600 units of Labrador Iron Ore Royalty Income Fund through
the facilities of The Toronto Stock Exchange. Such units were acquired for
$14.25 per unit. Rio Tinto has purchased an aggregate of 163,400 units of the
Fund since the commencement of its bid at an average price of $14.25 per
unit. Rio Tinto now owns an aggregate of 4,473,631 units of the Fund,
representing approximately 14.9% 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