Subsidiary's Final Results - Year End 31 Dec 1999

Rio Tinto PLC
9 March 2000

                   BOUGAINVILLE COPPER LIMITED
                                
The  directors  of  Bougainville Copper Limited  announce  the
following audited results of the company for the year ended 31
December,  1999  together with comparable results  for  twelve
months to 31 December, 1998.

Financial Results

                                         1999            1998
                                        K'000           K'000

Net write-off of aged debtors           1 590               -
and creditors

Interest income                        16 662          12 397
                                    
                                       18 252          12 397


Less:
General and administration expenses     4 764           5 182

Profit/(loss) before exchange effects
and taxation                           13 480           7 215

Net exchange gain                         440             481

Profit before taxation                 13 928           7 696

Income tax expense                          -               -

Net profit                             13 928           7 696

Average A$/Kina exchange rate          0.5981          0.7617
for period

Equivalent net profit in A$'000         8 330           5 862


While the peace process has held it has not resulted in the
company gaining access to the mine site or being able to assess
the condition of many of its assets.

After a decade of planning for a return to the mine site and
being no closer now to realising the plan the Board has started
to look at alternative strategies for the company. Among the
range of possibilities is the divestment of the Bougainville
assets.

A combination of factors have eroded the Board's optimism that
mine  re-development can be achieved in the  short  to  medium
term. The prices of copper and gold are lower today than  when
the  mine  closed. Company plant and equipment has been  badly
damaged.  While  currently the main issue for Bougainville  is
its  political  future  BCL's historic  association  with  the
conflict  is  an enduring issue. The mine may  have  a  better
chance  of  re-opening and therefore be of  greater  value  to
owners other than BCL.

Interest  rates  have  remained  high  resulting  in  earnings
increasing  to K16.7 million from last year's K12.88  million.
Some rationalisation of the balance sheet with respect to aged
debtors and creditors has resulted in an abnormal gain of K1.6
million.  Net  profit for the year is up by  K6.2  million  to
K13.9 million.

The value of the Kina has continued to decline from an average
A$0.7617 in 1998 to A$0.5981 in 1999. This is significant  for
any  redevelopment work that is priced in US$ and A$.  BCL  is
required by Government regulation to hold its cash reserves on
shore in Kina.

1999 DIVIDEND
Directors have not declared a dividend in respect of 1999.

BORROWING
No borrowings were outstanding at year-end.

ANNUAL REPORT
The  Annual General Meeting of the company will be held at the
Port Moresby Parkroyal at 11.00 am on 3 May 2000.
The  Annual  Report and Notice of Meeting will  be  mailed  to
shareholders on approximately 31 March, 2000.

STOCK EXCHANGE
The   standard  proforma  Appendix  4B  was  lodged  with  the
Australian Stock Exchange in accordance with official  listing
requirements.


For further information contact:

Media Relations               Investor Relations
John Hughes                   Peter Jarvis
+ 44 207 753 2331             + 44 207 753 2401