Part 1 - 4th Qtr Prod Figures

Rio Tinto PLC 24 January 2001 PART 1 Rio Tinto Quarterly Production Report For the Quarter ending 31 December 2000 *Iron ore production for the full year was 40% higher than in 1999. Half of the increase arose from record production at Hamersley for the year with the other half arising from the acquisition of North Limited which also had record production at its Robe River operations during 2000. Both Hamersley and Robe River had record shipments during 2000. *Aluminium production for the full year was 24% higher than in 1999 helped by the purchase of the Comalco minorities during the year and continued improvements at the smelters. *Mined copper production for the full year was 4% higher than in 1999. However, it was 18% higher in the fourth quarter of 2000 compared with the third quarter due to higher copper grades at Bingham Canyon, US and Grasberg, Indonesia. *Mined gold production for the full year was down 9% on 1999. However, it was 26% higher in the fourth quarter of 2000 compared with the third quarter due mainly to significantly higher gold grades at Grasberg. *Coal production for the full year was down 5% on 1999 due mainly to a decision to reduce US production in the first half of the year following lower spot prices experienced in late 1999 and early 2000. *Borates production for the full year was up 5% on 1999, but down 7% in the fourth quarter compared with the previous quarter when production had been high due to timing of maintenance work. *Titanium dioxide feedstock production for the full year was down 4% on 1999 but 8% higher in the fourth quarter compared with the third quarter following the return to full production at QIT, Canada. *The preliminary financial results for 2000 are scheduled to be released on 5 February 2001. For further information contact: Media Relations Investor Relations Lisa Cullimore Peter Jarvis + 44 20 7753 2305 + 44 20 7753 2401 Jonathan Murrin + 44 20 7753 2326 Melbourne Ian Head Dave Skinner + 61 3 92833620 + 61 3 92833628 Daphne Morros + 61 3 92833639 Website: www.riotinto.com RIO TINTO PRODUCTION SUMMARY RIO TINTO share of production % Change Quarter Full Year Q400 Q400 2000 1999 2000 2000 1999 2000 vs vs vs Q4 Q3 Q4 Q300 Q499 1999 Principal Commodities Copper - mined ('000 t) 211.8 223.0 264.0 859.8 895.6 18% 25% 4% Copper - refined ('000 t) 104.3 99.1 106.3 388.2 392.0 7% 2% 1% Gold - mined ('000 ozs) 785 664 836 2,987 2,730 26% 6% -9% Gold - refined ('000 ozs) 96 102 121 346 413 18% 26% 19% Iron ore ('000 t) 13,579 20,343 23,159 51,830 72,453 14% 71% 40% Coal ('000 t) 35,904 34,303 35,390 139,177 131,706 3% -1% -5% Aluminium ('000 t) 143.6 193.5 194.9 557.8 692.3 1% 36% 24% Borates ('000 t) 132 161 149 561 590 -7% 13% 5% Titanium dioxide feedstock ('000 t) 350 341 368 1,428 1,368 8% 5% -4% Other Metals & Minerals Bauxite ('000 t) 2,298 3,101 3,111 8,506 11,005 0% 35% 29% Alumina ('000 t) 304 430 436 1,185 1,530 1% 43% 29% Diamonds ('000 cts) 4,430 4,034 4,694 17,730 17,205 16% 6% -3% Lead - mined ('000 t) 4.7 7.6 10.0 20.9 24.7 33% 113% 18% Molybdenum ('000 t) 1.6 2.5 2.3 6.3 10.1 -8% 44% 60% Nickel in matte (tonnes) 2,928 1,333 2,674 9,445 8,738 101% -9% -7% Nickel - refined (tonnes) 968 1,047 927 3,938 3,887 -12% -4% -1% Salt ('000 t) 920 742 711 3,409 2,987 -4% -23% -12% Silver - mined ('000 ozs) 4,093 3,541 3,993 15,973 14,427 13% -2% -10% Silver - refined ('000 ozs) 775 912 821 4,291 3,218 -10% 6% -25% Talc ('000 t) 313 323 302 1,268 1,260 -7% -4% -1% Tin (tonnes) 150 187 39 1,057 611 -79% -74% -42% Uranium (tonnes) 504 954 1,418 2,217 3,446 49% 181% 55% Zinc - mined ('000 t) 17.1 24.2 28.8 74.5 74.2 19% 69% 0% Zinc - refined ('000 t) 21.2 17.6 17.3 84.9 69.2 -1% -18% -19% NB Throughout this report, figures in italics indicate adjustments made since the figure was previously quoted on the equivalent page. The figures shown for production are sometimes more precise than the rounded numbers shown, hence small differences may result between the total of the quarter figures and the full year figures. PRINCIPAL COMMODITIES Rio Tinto Share of Production Full Full 4Q 1Q 2Q 3Q 4Q Year Year Interest 1999 2000 2000 2000 2000 1999 2000 COPPER Mine production ('000 tonnes) Kennecott Utah Copper 100% 63.7 69.7 74.1 70.5 81.4 279.3 295.7 Grasberg - FCX (a) 14% 20.5 18.5 17.5 23.3 27.7 84.3 87.0 Grasberg - Joint Venture (a) 40% 27.4 24.5 23.1 24.8 44.3 95.2 116.8 Escondida 30% 71.4 67.0 63.7 70.9 71.9 299.7 273.5 Neves Corvo 49% 11.8 11.9 11.7 8.1 5.7 49.3 37.4 Palabora (b) 49% 17.0 13.0 13.9 15.1 12.7 52.0 54.7 Alumbrera (c) 25% - - - 5.0 10.3 - 15.3 Northparkes (c) 80% - - - 5.2 10.0 - 15.2 Rio Tinto total mine production 211.8 204.5 204.1 223.0 264.0 859.8 895.6 Refined production ('000 tonnes) Kennecott Utah Copper 100% 70.3 69.9 61.1 65.8 71.9 265.4 268.7 Atlantic Copper (a) 17% 9.5 9.7 9.9 10.6 9.8 36.8 40.1 Escondida 30% 10.5 10.5 10.5 10.4 10.7 39.5 42.1 Palabora 49% 13.9 8.3 6.7 12.2 14.0 46.5 41.1 Rio Tinto total refined production 104.3 98.3 88.2 99.1 106.3 388.2 392.0 At the end of the quarter, the Group had provisionally priced sales of copper in concentrates and intermediate product as follows: Million lbs of payable copper: Kennecott 100% - - 11 11 37 - 37 Grasberg (a) 14% 56 58 45 54 65 56 65 Escondida 30% 104 115 100 99 110 104 110 Neves Corvo 49% 9 11 9 9 8 9 8 Alumbrera (c) 25% - - - - 13 - 13 Northparkes (c) 80% - - - 6 15 - 15 Rio Tinto total 169 184 165 179 248 169 248 Priced at US c/lb average 84 78 81 89 83 84 83 GOLD Mine production ('000 ounces) Kennecott Utah Copper 100% 88 111 143 154 121 367 529 Barneys Canyon 100% 43 33 35 37 48 112 153 Grasberg - FCX (a) 14% 72 59 48 54 100 308 261 Grasberg - Joint Venture (a) 40% 196 113 87 88 190 633 478 Escondida 30% 10 10 8 11 9 45 39 Alumbrera (c) 25% - - - 19 33 - 52 Rawhide 51% 14 14 14 14 12 58 53 Ridgeway 100% 12 - - - - 81 - Cortez/Pipeline 40% 127 125 86 76 118 532 404 Greens Creek 70% 12 15 15 13 15 56 58 Peak 100% 38 32 35 37 26 140 130 Northparkes (c) 80% - - - 2 4 - 6 Morro do Ouro 51% 28 30 30 28 29 96 117 Kelian 90% 102 68 55 93 88 396 304 Lihir (d) 16% 28 20 23 25 31 107 99 Rio Tinto Zimbabwe 56% 10 9 10 11 10 40 39 Others: (e) 6 2 1 2 2 16 7 Rio Tinto total mine production 785 640 590 664 836 2,987 2,730 Refined production ('000 ounces) Kennecott Utah Copper 100% 96 80 110 102 121 346 413 Mine production figures for metals refer to the total quantity of metal produced in concentrates or dore bullion irrespective of whether these products are then refined on-site. See footnotes on page 6. IRON ORE Production ('000 tonnes) Hamersley 100% 11,780 12,618 12,978 14,642 14,857 44,997 55,095 Channar 60% 1,705 1,556 1,479 1,639 1,687 6,066 6,361 Robe River (c) 53% - - - 2,560 4,216 - 6,776 Iron Ore Company Of Canada (c) 56% - - - 1,221 2,222 - 3,442 Corumba 100% 94 147 173 281 178 767 778 Rio Tinto total mine production 13,579 14,321 14,630 20,343 23,159 51,830 72,453 PRINCIPAL COMMODITIES (continued) Rio Tinto Share of Production Full Full Coal 4Q 1Q 2Q 3Q 4Q Year Year Interest Type 1999 2000 2000 2000 2000 1999 2000 COAL US coal operations ('000 tonnes) Kennecott Energy: Antelope 100% S 5,258 5,076 5,035 5,486 5,240 20,579 20,837 Colowyo (f) 100% S 1,417 1,168 1,225 1,268 1,030 5,053 4,691 Cordero Rojo 100% S 11,129 8,899 7,204 9,018 9,917 41,436 35,038 Decker 50% S 1,574 1,056 1,148 1,220 1,105 4,977 4,529 Jacobs Ranch 100% S 7,016 5,726 5,965 7,352 6,635 26,371 25,678 Spring Creek 100% S 2,495 2,650 2,668 2,397 2,538 9,975 10,253 Total US coal 28,889 24,575 23,245 26,741 26,465 108,391 101,026 Australian coal operations ('000 tonnes) Pacific Coal: Blair Athol (g) 71% S 1,817 1,733 1,848 1,877 2,406 7,915 7,864 Kestrel Coal (h) 80% S 171 176 246 256 226 424 904 80% M 284 348 472 532 381 883 1,733 Tarong Coal 100% S 1,176 1,256 1,049 1,268 1,470 5,116 5,043 Coal & Allied Industries: Hunter Valley Operations (i) 71% S 829 869 1,101 1,019 1,095 4,284 4,084 71% M 443 546 637 424 394 2,118 2,001 Mount Thorley 57% S 253 246 239 368 371 1,252 1,224 57% M 294 348 273 306 333 1,385 1,259 Total Australian coal 5,267 5,522 5,865 6,049 6,676 23,377 24,113 Indonesian coal operations ('000 tonnes) Kaltim Prima Coal (j) 50% S 1,631 1,146 1,660 1,514 2,249 7,007 6,568 South American coal operations ('000 tonnes) Carbones del Cerrejon (k) 0% S 118 - - - - 402 - Rio Tinto total coal production 35,904 31,243 30,769 34,303 35,390 139,177 131,706 BAUXITE/ALUMINA/ALUMINIUM Bauxite ('000 tonnes) Weipa (l) 100% 2,170 2,011 2,513 2,990 2,992 8,188 10,507 Boke (l) 4% 128 125 144 111 119 317 499 Rio Tinto total bauxite production 2,298 2,137 2,657 3,101 3,111 8,506 11,005 Alumina ('000 tonnes) Queensland Alumina (l) 30% 202 198 246 284 290 792 1,017 Eurallumina (l) 56% 102 104 117 146 146 393 512 Rio Tinto total Alumina production 304 301 363 430 436 1,185 1,530 Aluminium ('000 tonnes) Comalco (l) 100% 125.9 124.7 143.4 175.5 175.4 487.9 619.0 Anglesey 51% 17.7 17.8 18.0 18.0 19.5 69.9 73.3 Rio Tinto total aluminium production 143.6 142.5 161.4 193.5 194.9 557.8 692.3 Mine production figures for metals refer to the total quantity of metal produced in concentrates or dore bullion irrespective of whether these products are then refined on-site, except for the data for iron ore which represent production of selable quantities of ore plus pellets. Key to coal type: S = Steaming/thermal coal, M = Metallurgical/coking coal See footnotes on page 6. BORATES Borates ('000 tonnes B2O3 content) Rio Tinto total borate production 100% 132 145 135 161 149 561 590 TITANIUM DIOXIDE FEEDSTOCK Production ('000 tonnes) Rio Tinto Iron & Titanium 100% 350 349 310 341 368 1,428 1,368 OTHER METALS & MINERALS Rio Tinto Share of Production Full Full 4Q 1Q 2Q 3Q 4Q Year Year Interest 1999 2000 2000 2000 2000 1999 2000 DIAMONDS Production ('000 carats) Argyle (m) 99.8% 4,430 3,983 4,494 4,034 4,657 17,730 17,168 Other (m) - - - - - 37 - 37 Rio Tinto Total Diamond production 4,430 3,983 4,494 4,034 4,694 17,730 17,205 LEAD Mine production ('000 tonnes) Greens Creek 70% 3.1 3.5 3.6 3.7 3.4 14.5 14.2 Zinkgruvan (c) 100% - - - 3.9 6.6 - 10.5 Others (e) - 1.6 - - - - 6.4 - Rio Tinto Total mine Production 4.7 3.5 3.6 7.6 10.0 20.9 24.7 MOLYBDENUM Mine production ('000 tonnes) Kennecott Utah Copper 100% 1.6 2.3 3.0 2.5 2.3 6.3 10.1 NICKEL Nickel in matte (tonnes) Fortaleza 100% 2,928 2,561 2,170 1,333 2,674 9,445 8,738 Toll refined metal production (tonnes) Rio Tinto Zimbabwe - Empress 56% 968 973 939 1,047 927 3,938 3,887 SALT Production ('000 tonnes) Dampier 65% 920 665 869 742 711 3,409 2,987 SILVER Mine production ('000 ounces) Kennecott Utah Copper 100% 886 916 952 1,066 1,005 3,859 3,939 Grasberg - FCX (a) 14% 147 128 122 159 205 563 615 Grasberg - Joint Venture (a) 40% 133 75 48 47 208 438 378 Escondida 30% 215 231 265 258 231 1,057 985 Greens Creek 70% 1,902 1,758 1,779 1,390 1,567 7,213 6,494 Zinkgruvan (c) 100% - - - 271 431 - 702 Others: (e) - 810 335 283 350 347 2,843 1,315 Rio Tinto total mine production 4,093 3,443 3,450 3,541 3,993 15,973 14,427 Refined production ('000 ounces) Kennecott Utah Copper 100% 775 776 709 912 821 4,291 3,218 Mine production figures for metals refer to the total quantity of metal produced in concentrates or dore bullion irrespective of whether these products are then refined on-site. The nickel in matte production reflects the contained tonnage of nickel. See footnotes on page 6. TALC Production ('000 tonnes) Luzenac Group 99.9% 313 321 315 323 302 1,268 1,260 TIN Mine production (tonnes) Neves Corvo 49% 150 109 275 187 39 1,057 611 OTHER METALS & MINERALS (continued) Rio Tinto Share of Production Full Full 4Q 1Q 2Q 3Q 4Q Year Year Interest 1999 2000 2000 2000 2000 1999 2000 URANIUM Production (tonnes U3O8) Rossing 69% 493 561 498 563 573 2,175 2,195 Palabora 49% 11 7 9 16 13 42 45 Energy Resources Of Australia (c) 68% - - - 375 832 - 1,207 Rio Tinto total uranium production 504 567 507 954 1,418 2,217 3,446 ZINC Mine production ('000 tonnes) Greens Creek 70% 8.6 9.9 11.2 11.4 10.1 40.1 42.7 Zinkgruvan (c) 100% - - - 12.8 18.7 - 31.5 Others(e) - 8.5 - - - - 34.4 - Rio Tinto total Mine production 17.1 9.9 11.2 24.2 28.8 74.5 74.2 Refined production ('000 tonnes) Norzink 50% 17.9 17.8 16.5 17.6 17.3 72.0 69.2 Others:(e) - 3.4 - - - - 12.9 - Rio Tinto total refined zinc production 21.2 17.8 16.5 17.6 17.3 84.9 69.2 Wood Fibre Production ('000 tonnes) North Forest Products (c) 100% - - - 516 853 - 1,369 (a) Rio Tinto's initial interests in the Grasberg mine and in the Atlantic Copper smelter were acquired in 1995 by virtue of an acquisition of shares in Freeport-McMoRan Copper & Gold (FCX). As a result of FCX share buy-backs, Rio Tinto's interest in FCX has changed and, as of 31 December 2000, Rio Tinto had, by virtue of its FCX shareholding, a 14.3% share in Grasberg and a 16.6% share in Atlantic Copper. Under the Joint Venture agreement with FCX, Rio Tinto is entitled to 40% of additional material mined as a consequence of the expansion of the Grasberg facilities. The additional entitlement is shown separately in the above tables. (b) Rio Tinto increased its holding in Palabora from 46.5% to 48.6% during November 2000. (c) Rio Tinto's share of production from the assets owned by North Limited is shown with effect from 11 August 2000, the effective date of the acquisition. (d) Effective 14 February 2000, Rio Tinto's interest in Lihir decreased from 17.15% to 16.3% following a placement of shares by Lihir Gold. (e) Up until 31 December 1999, the above table included Rio Tinto's share of production from its one third interest in Minera S.A. This was sold at the end of 1999. (f) Kennecott Energy has a partnership interest in the Colowyo mine, but as it is responsible under a management agreement for the operation of the mine, all of Colowyo's output is included in Rio Tinto's share of production. (g) On 10 January 1999, Rio Tinto increased its beneficial interest in the Blair Athol mine from 57.2% to 71.2%. (h) Rio Tinto acquired Kestrel Coal, formerly Gordonstone, in February 1999 and production commenced in June 1999. (i) With effect from 1 July 1999, Coal & Allied purchased the Rio Tinto coal interests in New South Wales that were previously held under the Novacoal name. Coal & Allied also purchased Mitsubishi Development Pty Ltd's 40% interest in the Howick mine. The restructuring of Coal & Allied's shareholdings left Rio Tinto with a 70.9% interest. Rio Tinto's share of production for quarters prior to 1 July 1999 is reported in line with the pre-merger shareholdings. Production from the Lemington mine, acquired by Coal & Allied with effect from 20 December 2000, is included in the Hunter Valley Operations numbers. (j) Rio Tinto has a 50% share in Kaltim Prima and, under the terms of its Coal Agreement, the Indonesian Government is entitled to a 13.5% share of Kaltim Prima's production. Rio Tinto's share of production shown is before deduction of the Government share. (k) Rio Tinto disposed of its interest in Carbones del Cerrejon in early January 2000. (l) Rio Tinto progressively increased its interest in Comalco from 70.4% to 72.4% during the first half of 1999. During the first half of 2000, Rio Tinto offered to acquire all the shares in Comalco and now holds 100%. Rio Tinto's share of production has been calculated using the weighted average of Rio Tinto's interest over the relevant periods. (m) During the second half of 2000, Rio Tinto acquired Ashton Mining. On 10 November 2000, Rio Tinto acquired control of Ashton and, as of 17 January 2001,now owns 100%. As a result of this purchase, with effect from 10 November, Rio Tinto's effective interest in Argyle Diamonds increased from 59.7% to 99.8%. Shown separately is Rio Tinto's share of production from Ashton's diamond interests apart from Argyle. MORE TO FOLLOW

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