Rio Tinto approves development of Cortez Hills

15 September 2005

Rio Tinto has approved its share of the development costs of the Cortez Hills gold project.
Cortez Hills is part of the Cortez Joint Venture property in Nevada, which is 40% owned by Rio Tinto and 60% by Placer Dome.

Rio Tinto’s share of the investment capital totals $182 million (1).

The development of Cortez Hills reflects a successful brownfield exploration programme undertaken by the Joint Venture partners.

(1) in 2005 dollars, excludes forecast escalation of $15 million.