Lihir Gold Limited Share Allocation on Merger

Rio Tinto PLC
8 February 2000


The following was released earlier today in Australia by Lihir
Gold Limited and Niugini Mining Limited.

      
Share Allocation on Merger by Scheme of Arrangement
                               
Lihir  Gold  Limited  ('Lihir')  and  Niugini  Mining  Limited
('Niugini  Mining')  are pleased to announce  that,  following
approval on 1 February 2000 by the PNG National Court  of  the
merger  of  the  two companies by Scheme of  Arrangement,  the
final  share exchange ratio has now been determined,  enabling
the merger to be completed.

Niugini   Mining's  Net  Cash,  as  defined  in   the   Merger
Implementation Agreement, was US$54.617 million. Based on  the
agreed Lihir share price of A$1.45 per share, being the  price
at which Lihir made its private placement with institutions on
7  October  1999  when  the  merger  was  announced,  and  the
applicable  exchange rate of A$/US$ 0.6371, the  consideration
for  Niugini  Mining's Net Cash will be  59.12  million  Lihir
shares.  When added to the 1 for 1 consideration  for  Niugini
Mining's holding of 161.53 million shares in Lihir, Lihir will
issue  a  total  of  220.65 million shares to  Niugini  Mining
shareholders.    Niugini Mining has 117.57 million  shares  on
issue and accordingly Lihir will issue 1.8768 Lihir shares  to
Niugini  Mining  shareholders in  exchange  for  each  Niugini
Mining share.

Following  completion  of  the merger,  Lihir's  issued  share
capital  will  comprise  1,142.33  million  shares,  excluding
161.53 million shares held by Niugini Mining, which is  now  a
wholly-owned  subsidiary of Lihir. Lihir will actively  pursue
the  cancellation the Lihir shares held by Niugini  Mining  as
soon as possible.

The timetable for completing the merger is as follows: -

Merger Record Date                       8 February 2000

New Lihir Gold Shares traded 
on Deferred Settlement basis            10 February 2000

New Lihir Shares issued                 14 February 2000

Holding Statements mailed               16 February 2000

New Lihir Shares traded on 
Non Deferred Settlement basis           17 February 2000
           
                                                   
Niugini Mining shareholders may contact the Lihir Share
registrar, Computershare Registry Services, for details of
their new Lihir Shares on 61-7-3237-2100.


For further information, please contact:

Media Relations                         Investor Relations

John Hughes                             Peter Jarvis
Tel:  [phone]                  Tel:  [phone]

Website: www.riotinto.com


Note to Editors:

Following the merger between Lihir Gold Limited and Niugini
Mining Limited, Rio Tinto's holding in Lihir Gold Limited will
become 16.3%.