Rio Tinto agrees to sell its investment in Lihir

30 November 2005

Rio Tinto today entered into contracts to sell its 14.46 per cent shareholding in Lihir Gold for approximately A$399 million (US$295 million). The shares will be sold in a block trade at a price of A$2.15 per share.

Commenting on the sale, Rio Tinto’s chief executive, Leigh Clifford, said: “Rio Tinto generally does not hold long term minority positions in other listed companies. Following our relinquishment of management rights announced on 16 September 2005, we have taken advantage of the current favourable market conditions to sell our holding in Lihir.”

[Note: The securities have not been registered under the US Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.]