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Press Release

Rio Tinto announces a resource increase of 628 million tonnes at Kennecott Utah Copper

16 May 2008

Rio Tinto has further strengthened its global copper resources with the upgrade of mineral resources to 637 million tonnes at 0.48 per cent copper at its wholly owned Kennecott Utah Copper Bingham Canyon Mine. The resource is located beneath the current Bingham Canyon pit, and is currently under study for extraction by open pit mining methods. This represents an increase of 628 million tonnes over the December 2007 resource statement.

“We are very pleased with this substantial upgrade in resources. It will add significant value to Kennecott Utah Copper and Rio Tinto, particularly during this period of rapid long term demand growth,” said Bret Clayton, chief executive, Rio Tinto Copper. “We are continuing with our pre-feasibility studies to examine options to develop these resources.”

The Bingham Canyon mine is another example of the brownfield exploration potential within Rio Tinto’s global portfolio. Over the past two years, exploration has identified a world class molybdenum deposit at depth underneath the current mine and there are multiple targets for further consideration within the Oquirrh Mountain range in Utah.

The resource upgrade at Bingham Canyon came through continuing mine planning, economic, and resource development studies. These studies are a part of an ongoing technical development programme, which includes new resource drilling and the study of open pit and underground mining options.

As the second largest copper producer in the United States, Kennecott Utah Copper provides about 13 per cent of US copper needs. Kennecott Bingham Canyon Mine, located in the Salt Lake City Valley, is the largest man-made excavation in the world. It has been in operation for more than 100 years and has produced more copper ore, 16.4 million tonnes, than any mine in the world. Every year, Kennecott produces approximately 272,000 tonnes of copper, along with 500,000 ounces of gold, 4 million ounces of silver, about 30 million pounds of molybdenum, and about 0.9 million tonnes of sulphuric acid, a by-product of the smelting process.

The resource at Bingham Canyon Mine has been generated to comply with the JORC code guidelines. The tabulated figures below show the new resource as classified, and the December 2007 resource position for comparison.



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