Mining Lease Approval

Rio Tinto PLC
29 May 2001



                       New lease of life for Peak Gold                        

 
Rio Tinto has received approval from the NSW Government for a new mining
lease for Peak Gold Mines. The lease will allow Peak Gold to develop a new
open cut mine - to be called the New Cobar Open Cut mine - five kilometers
north of the existing underground mine, near Cobar in central New South
Wales, Australia.
 
Development of the new lease will give Peak Gold access to about 800,000
tonnes of ore, grading four grammes per tonne gold, over the next four years.
 
The lease, together with the development of the New Occidental underground
mine, will extend the life of Peak Gold's operations to 2007. Ore reserves at
the existing Peak Gold mine will be depleted in 2002.
 
For further information please contact:
 

                                                                  
              LONDON                     AUSTRALIA                
              Media Relations            Media Relations          
              Lisa Cullimore             Ian Head                 
              + 44 (0) 20 7753 2305      [phone]      
              Investor Relations         Investor Relations       
              Peter Jarvis               Dave Skinner             
              + 44 (0) 20 7753 2401      [phone]      
              Jonathan Murrin            Daphne Morros            
              + 44 (0) 20 7753 2326      [phone]   
   
Website: www.riotinto.com