chartbook.pdf

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January 2013riotinto.com

Chartbook 2013

Driverless trucks, Pilbara


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January 2013riotinto.com

Contact details

Investor Relations, London

Mark ShannonOffice: +44 (0) 20 7781 1178Mobile: +44 (0) 7917 [email protected]

David OvingtonOffice: +44 (0) 20 7781 2051Mobile: +44 (0) 7920 010 [email protected]

Andrew FieldOffice: +44 (0) 20 7781 2054Mobile: +44 (0) 7876 791341

[email protected]

Investor Relations, Australia

Christopher MaitlandOffice: +61 (0) 3 9283 3063Mobile: +61 (0) 459 800 [email protected]

Investor Relations, North America

Jason CombesOffice: +1 (0) 801 204 2919Mobile: +1 (0) 801 558 [email protected]

Financial calendar 2013

14 February Full year results for 201216 April 1Q13 Operations Review18 April Rio Tinto plc AGM London9 May Rio Tinto Ltd AGM Sydney16 July 2Q13 Operations Review8 August Half year results for 201315 October 3Q13 Operations Review
mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]


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January 2013

Rio Tinto overview1 Cautionary statement2 Safety performance3 Rio Tintos strategy4 A world leader in mining5 Where we operate

6 >85% of assets in OECD7 Revenue by destination and

commodity8 Innovation and technology9 2012 first half highlights10 Earnings reconciliation11 Cash cost performance12 Capex prioritised on highest

quality projects13 Approved capital expenditure by

country and product

14 Balancing value addinginvestment with returns

15 Growth map, brownfield andgreenfield

16 Major capital projectsunderway

17 Further quality growth options

Market outlook18 Title slide19 Chinas share of market

demand20 Chinese steel production and

iron ore imports21 Chinese aluminium production

and bauxite & alumina imports22 Chinas coal production and

net exports/imports23 Thermal coal exports by

country24 China stimulus measures

25 China steel demand andintensity26 China crude steel demand and

production27 Chinese provinces climbing the

steel intensity curve28 Chinas forecast power

generation mix (coaldominance)

29 Indias thermal coal imports30 Long term demand curves,

saturation vs GDP31 Rio Tinto continues to benefitfrom Chinas rapid growth rates

Product group informationIron ore32 Title slide33 Highlights34 Unrivalled expansion

programme

35 Pilbara production profile36 Pilbara iron ore: mines,

products, ports, product specs37 Sales contract portfolio

pricing mechanisms38 Challenges of bringing on new

iron ore supply39 Industry supply falls short of

forecasts40 Superior performance

delivering on time and budget

41 Integrated systemdevelopment to support 353Mt/a and beyond

42 Partner cooperation enablingsolid progress Simandou

43 Phased development and rampup of Simandou

44 IOC integrated mine to portproduction system

Alumin ium

45 Highlights46 RTA strategic focus on

transforming the business47 Significant achievements since

200748 Energy profile: 97% carbon

free49 On path to deliver over $1

billion EBITDA50 Capex focused on brownfield

modernisation projects51 Focused on Tier 1 projects

Copper52 Highlights53 Copper supply will continue to

be constrained54 Our continued focus on

production at low cost55 Kennecott, Grasberg and

Escondida

56 Turquoise Hill Resources: 51%ownership57 Oyu Tolgoi


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January 2013

58 Attractive longer term growthprofile (La Granja, Resolution)

59 Grasberg production profile

Energy60 Highlights

61 Rio Tinto Coal Mozambique62 Benga: first production in H1

201263 Mozambique coal chain

capacity growth path64 Australian coal growth options65 Australian infrastructure

Diamonds & Minerals66 Highlights

67 Portfolio of industry leadingbusinesses

68 RTIT positioned to capturemarket growth

69 TiO2 process flow chart70 Rio Tinto Fer et Titane process

flow chart71 Richards Bay Minerals process

flow chart72 TiO2strong pricing outlook73 Borates demand, production,

end use74 Diamonds market share,

supply and demand

Corporate information75 Title slide

76 Earnings sensitivities77 Principal corporate activity

2005-0978 Principal corporate activity

2010-1279 Major capital projects (1)80 Major capital projects (2)81 Major capital projects (3)82 Major capital projects (4)83 Major capital projects (5)84 Major capital projects (6)

85 Market capitalisation of majorlisted mining companies

86 Geographical analysis of RioTinto shareholders

87 Rio Tinto executives88 Rio Tinto Board89 Rio Tinto Board (contd.)


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2012, Rio Tinto, All rights reserved

|

Cautionary statement

This presentation has been prepared by Rio Tinto plc and Rio Tinto Limited (Rio Tinto) and consisting of the slides for apresentation concerning Rio Tinto. By reviewing/attending this presentation you agree to be bound by the following conditions.

Forward-looking statementsThis presentation includes forward-looking statements. All statements other than statements of historical facts included in thispresentation, including, without limitation, those regarding Rio Tintos financial position, business strategy, plans and objectives ofmanagement for future operations (including development plans and objectives relating to Rio Tintos products, production forecastsand reserve and resource positions), are forward-looking statements. Such forward-looking statements involve known and unknownrisks, uncertainties and other factors which may cause the actual results, performance or achievements of Rio Tinto, or industryresults, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Such forward-looking statements are based on numerous assumptions regarding Rio Tintos present and future business strategiesand the environment in which Rio Tinto will operate in the future. Among the important factors that could cause Rio Tintos actualresults, performance or achievements to differ materially from those in the forward-looking statements include, among others, levelsof actual production during any period, levels of demand and market prices, the ability to produce and transport products profitably,the impact of foreign currency exchange rates on market prices and operating costs, operational problems, political uncertainty andeconomic conditions in relevant areas of the world, the actions of competitors, activities by governmental authorities such aschanges in taxation or regulation and such other risk factors identified in Rio Tinto's most recent Annual Report on Form 20-F filedwith the United States Securities and Exchange Commission (the "SEC") or Form 6-Ks furnished to the SEC. Forward-looking

statements should, therefore, be construed in light of such risk factors and undue reliance should not be placed on forward-lookingstatements. These forward-looking statements speak only as of the date of this presentation.

Nothing in this presentation should be interpreted to mean that future earnings per share of Rio Tinto plc or Rio Tinto Limited willnecessarily match or exceed its historical published earnings per share.

1Chart Book


|

Injury f requency rates 2003 October 2012Per 200,000 hours worked

2

Continued improvements in safetyChart Book

0.0

0.2

0.4

0.6

0.8

1.0

1.2

1.4

1.6

1.8

2.0

03 04 05 06 07 08 09 10 11 Oct-12

All injury frequency rate

Lost time injury frequency rate


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|

Robust business of long-life, cost-competitive, expandable assets thatare resilient throughout the cycle

Aim to maintain strong balance sheetand single A credit rating

Consistent delivery against a clearly-defined growth programme

Disciplined investment in high-return growth projects

Completion of major projectsgenerating new revenues over

next 12-18 months

Further actions taken to shape theportfolio

Delivering on our strategy3Chart Book


|

Rio Tinto a world leader in mining4

Alumin ium

#2 in bauxite#2 in aluminium#3 in alumina

Diamonds & Minerals

#1 in titanium dioxide#2 in borates#3 in zircon#5 in diamonds

Copper

#7 in copper#5 in molybdenum

Energy

#5 in uranium#8 in export coking coal#10 in export thermal coal

Iron Ore

#2 in seaborne iron ore

2011 market share data

Chart Book


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|

Where we operate5

Alumi niumCopperDiamondsEnergyIron oreMinerals

Key

Mines and mining projects

Smelters, refineries, powerfacilities and processingplants remote from mine

Africa

Europe

SouthAmerica

NorthAmerica

Australasia

As ia

Chart Book


|

>85% of assets in OECD6

US7%

Austral ia/NZ

46%

1% Indonesia

Europe5%

3% 6%

Canada25%

5%Mongolia

2%

Other Asia1

Africa

South

America

2011 total assets (excluding non-controlling interests) by region

2011 total assets = $95 bil lion

1 Other Asia mainly relatesto assets in India and Oman.

Total assets are calculatedfrom information extractedfrom the consolidation

schedules of the Company forthe year ended 31 December2011, with adjustments fornon-controlling interests, cash,current and deferred taxreceivables and derivatives.

Chart Book


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|

31

16

16

16

13

8

China Japan Other Asia

North America Europe Other

Revenue by destination(%)

7

Strength in diversity

43%

11%

17%

9%

1% 5%

1% 12%

Iron ore Copper Aluminium Coal

Uranium Minerals Diamonds Other

Revenue by commodity(%)

Gross sales revenue in H1 2012 = $28 billion*Other commodities mainly relate to engineered products and Pacific Aluminium

Chart Book


| 8

Embedding leadership in next generationstep change technologiesOur Mine of the Future provides an integrated approach to unlocking value

Find Develop Mine Recover

Find future tier oneore bodies

VK1 in initial flight trials Complex testing

programme under way

Develop future blockcave mines safer,faster, better

Tunnel boring systemtrials to commence atNorthparkes duringH2 2012

Optimise resourceproductivity

Expansion of driverlesstruck fleet to 150

Operations Centre Smart drilling and

blasting Autonomous trains

(AutoHaul)

Recover more frommineral deposits

IronX iron orerecovery pilot plantto be scaled up

NuWave coppersorting pilot plant beingcommissioned at KUC

Innovation networks created through long term strategic alliancesProtection of Intellectual Property is key to sustaining competitive advantage

Chart Book


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|

2012 first half highlights

Solid financial results driven by record operational performanceof iron ore division

Underlying earnings of $5.2 billion

Net earnings of $5.9 billion

Underlying EBITDA of $10.1 billion

Cash flows of $7.8 billion

9

$ billions H1 2011 H1 2012 Movement

Underlying EBITDA 14.3 10.1 -29%

Underlying earnings 7.8 5.2 -34%

Net earnings 7.6 5.9 -22%

Cash flows from operations 12.9 7.8 -39%

Capital expenditure 5.1 7.6 +49%

Interim dividend (US cents per share) 54.0 72.5 +34%

Chart Book


|

0

2,000

4,000

6,000

8,000

7,781H1 11

underlyingearnings

(1,936)Price

200Exchange

Rates

366Volumeincrease

(584)Volume

decrease

(174)Energy and

inflation

(388)Other cash

costs

(111)Explor'n,eval'n &

other

5,154H1 12

underlyingearnings

5,885H1 12

Net earnings

Underlying earnings 2011 first half vs 2012 first half$ millions

10

Strong underlying earningsin a lower price environment

Chart Book


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|

Other

MiningInflation

Weather

One-offs

Grade andstripping

OperationalReadiness

-200 -100 0 100 200

Operational readiness costs largelyrelate to preparation for Pilbara

volume ramp-up Reduced impact from weather has

been offset by other one-offsincluding Alma and Cu grades

Prioritising productivityimprovements

Further savings expected fromsupport and service cost reductionprogramme

Earnings cash cost impact$ millions

11

External cost pressures have reducedbut remain significant

Structural costincreases

One-offs andvolume related

Cost increases Cost decreases

Alma

Chart Book


|

$16 billion capital expenditureapproved for 2012

Rio Tintos proportionate share ofcapital is $13.6 billion

Disciplined and rigorous capitalapproval process

Investment focused on projects thatwill deliver superior returns

Phased approach to major capitalprojects

Three significant projects in threecommodities to come on line within thenext 18 months

Flexibility around further major projectapprovals

Approved capi tal expenditureUS$ billions

12

Capital expenditure is being prioritisedon the highest quality projects

0

2

4

6

8

10

12

14

16

18

2008 2009 2010 2011 2012F 2013F 2014F 2015F 2016F

Sustaining Pilbara - historicalPilbara - sustaining mines Pilbara - growth

Other Approved

Chart Book


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|

2012 Capital expenditure by country

13

Approved capital expenditure diversified acrossgeographies and products

2012 Capital expenditure by product

Excludes equity accounted units Excludes equity accounted units

Chart Book

61%15%

7%

12%

5%

Australia Canada

United States Mongolia

Other

43%

18%

16%

11%

7%5%

Iron ore Copper

Aluminium Energy

Diamonds & Minerals Other


|

Balancing value adding investmentwith returns to shareholders

Disciplined and balanced approachto capital allocation

Balance sheet strength and single A

credit rating prudent in a volatileenvironment

Progressive dividend providessustainable long term returns toshareholders

Investment programme focused onhighest quality projects

14

Cash returns toshareholders

Progressivedividend

increasedby 34%

$7 billion

buy-backcompleted

Prudentbalance

sheetmanagement

SingleA cred it

Rating

Averageborrowing

maturityof 9 years

Disciplinedinvestment

in highest valueprojects

$10 billion ofnon-sustaining

investmentsin 2012

Cash from operations

Chart Book


12/49

Our growth programme is across regions,products and brownfield/greenfield

Resolution600ktpa Cu

Kitimat420ktpa Al

Oyu Tolgo i425ktpa Cu; 460kozpa Au

Pilbara growth+133mtpa iron o re

Coal MozambiqueUp to 25mtpa coking coal

Simandou95mtpa iron ore

La Granja500ktpa Cu

Escondida1.3mtpa Cu

Yarwun 2+2mtpa alumina

Utah Copper10 year lif e extension

Brownfield

Greenfield

15Chart Book


|

Major capital projects underway16Chart Book

Project timeline(1)%

Complete(2)$ Capex

approved(3)

$ Capexremaining

2012-2015(3)(4)Production

$0.9bn $0.3bn +5.3Mt/a

$2.1bn $1.3bn 15Mt/a(5)

$1.7bn $1.6bn +4Mt/a

$9.8bn $6.8bn +53Mt/a

$1.1bn $0.6bn 15Mt/a(5)

$5.9bn $5.4bn +70Mt/a

$1.0bn $1.0bn N/a

$0.5bn $0.3bn(7) 30mlb Ph1, 60mlb Ph2 (capacity)

$0.9bn(6) $0.8bn

$6.2bn $1.0bn +100kt/d ore

$0.5bn(7) $0.3bn(7) +17kt/a Ni, 13kt/a Cu

$1.4bn(6) $1.3bn(6) 152kt/d mill, access to higher grade ore

$0.7bn $0.7bn Extend LOM to 2029

$0.5bn(7) $0.2bn +40kt/a

$1.1bn $0.3bn +60kt/a

$3.3bn $2.4bn +140kt/a

$2.0bn $0.8bn +1.4Mt/a

$2.2bn $0.9bn 20mc/a capacityArgyle U/G

Kestrel

Kitimat

AP 60

ISAL

KUC

Escondida OGP1

Eagle

Oyu Tolgoi Ph 1

Grasberg

MAP

Simandou

Pilbara 353

Marandoo

Pilbara 283

Yandicoogina

Hope Downs 4

IOCC Ph 1 & 2

2012 2013 2014 2015

(1) Represents timing of project completion and initial production (2) As of 30 June 2012

(3) 100% unless otherwise stated (4) As of 1 January 2012. (5) Sustaining production at Pilbara total capacity (6) RT share of capex

(7) Budgets and schedule are under review


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|

Further quality growth options from a richportfolio of tier one and earlier stage projects

17Chart Book

IOCC Phase 3 Pilbara major debottlenecking

Oyu Tolgoi Phase 2 Resolution La Granja

Copper

Weipa South of Embley AP60 Phase 2 Cameroon brownfield and greenfield

Alumin ium

Benga phase 2 and Zambeze Hail Creek expansion Hunter Valley options

Valeria

Energy

Bunder (diamonds) Diavik A21 (diamonds) Jadar (borates, lithium)

Diamonds &Minerals

Iron Ore

Escondida options KUC North Rim Skarn Northparkes expansion

Mt Pleasant Winchester South Rssing heap leach

ERA Ranger 3 Deeps

Ilmenite mine expansions TiO2 smelter expansions

Simandou Orissa

Market outlook

18Chart Book


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(% of total world demand)

19

Chinas share of market demand

Source: CRU, Brook Hunt, WBMS, Rio Tinto

Chart Book

6

12

39

5

13

43

4

14

61

0

10

20

30

40

50

60

1990 2000 2011

Copper Aluminium Traded iron ore


|

Chinese steel production and iron ore imports20Chart Book

Domestic iron oremarket share

Crude steel production/iron ore imports/domestic iron ore production(million tonnes)

Source: World Steel Association /GTIS/RTIO Analysis *H1 annualisedImplied Domestic Iron Ore Production (import equivalent): Pig Iron Consumption implied Fe unit demand less imports, plusstock changes and transformed to equivalised to imported ore characteristics (moisture and Fe content).

0%

10%

20%

30%

40%

50%

60%

70%

80%

0

100

200

300

400

500

600

700

800

95 97 99 01 03 05 07 09 11

Steel production Iron ore imports

Implied domestic iron ore production (import equivalent) Domestic iron ore % market share


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|

(million tonnes)

21

Chinese aluminium productionand bauxite & alumina imports

Source: CRU, GTABauxite imports expressed in terms of alumina content

Chart Book

0

2

4

6

8

10

12

14

16

18

20

90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11

Alumina imports Bauxite imports Aluminium production


|

Chinese coal production and net exports /imports(million tonnes)

22

Chinas coal production and net exports/imports

Source: SX Coal, McCloskey

Chart Book

0

500

1000

1500

2000

2500

3000

3500

4000

-200

-150

-100

-50

0

50

100

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Thermal coal Coking coal Production

Exports left axis

Production (line)

Imports left axis


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(million tonnes)

23

Thermal coal exports

Source: GTIS, McCloskey

Chart Book

0

50

100

150

200

250

300

350

1992 2000 2007 2008 2009 2010 2011

Indonesia Australia South Africa China United States


|

China stimulus supports Q4 demand,but near term risks remain

Eurozone debt crises and fragile US recovery create ongoingnear-term uncertainty

Central government launched a series of pro-growth policies since April 2012

Expect this to lead to renewed demand from fourth quarter of 2012

24

China stimulus measures announced since April 2012

NDRC (Federal)

Apri l 2012 280 new projects approved Focused on industrial innovation and clean energy

May 2012 135 new projects approved Baosteel and Wuhan alone granted permission to build RMB 134 billion of new steel capacity

June 2012 70 projects approved 69 projects relate to green energy and new energy production

State

July 2012 Jiangsu province City of Nanjing 30-point plan to increase consumption

July 2012 Zhejiang province City of Ningbo to implement 24 stimulus measures, including a fund to support new business,tax cuts for qualified companies

July 2012 Hunan province City of Changsha 5 year investment plan, valued at $130 bil lion. Involves 195 developmentprojects including airport, subway, energy production

Chart Book


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|

Total steel demand over 20-yr period(tonnes per capita)

25

Chinese steel growth still has a long way to run

Steel intensity and GDP 1900-2011(kg/capital crude steel production)

Source: Correlates of War, Maddison, Global Insight, Rio TintoNote: Steel stock refers to the level of cumulative steel consumedwithin an economy over a 20-year period

Chart Book

0 5 10 15 20

China 2010-30

China 1990-2010

South Korea 1990-2010

Japan 1980-2000

Germany 1970-90

US 1960-80

0

200

400

600

800

1,000

1,200

1,400

0 10,000 20,000 30,000 40,000

China (forecast)20122040

Korea

China(actual)19502011

USA

India

GDP per capit a (PPP basis , $2005)

Japan

Germany

Note: Stylistic representationSource: Correlates of War, Maddison,Global Insight, Rio Tinto


|

0

200

400

600

800

1000

1200

1400

1600

2005 2015 2025 2035

Industr ial - Export (RT est) Industr ial - Domestic (RT est)Construction (RT est) CRU est.Wood Mackenzie est. AME est.

0

100

200

300

400

500

600

700

800

900

1000

2000 2010 2020 2030 2040 2050

Chinese crude steel demand forecastsMillion tonnes

26

We continue to forecast Chinese crude steelproduction of ~1 billion tonnes p.a. towards 2030

Chinese crude steel productionMillion tonnes

Source: Rio Tinto analysis Source: Rio Tinto analysis, CRU(2011), AME, Wood Mackenzie

18

4

1 -1

-1

x Decade average compound annual growth rate (%)

Chart Book


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|

Chinese regional steel intensity (urban population)Steel use per capita 2011 (kg)

27

Many large Chinese provinces are just beginningto climb the steel intensity curve

Source: McKinsey Global Institute, China Statistical Yearbook 2011, Rio Tinto estimates

Chart Book

Bubble size reflects 2011 population of each of the 31 Chinese provinces

0

200

400

600

800

1000

1200

1400

1600

1800

2000

2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 11,000 12,000

GDP per cap ita 2011 (US$)

Jiangsu58mSichuan

35m

Combined > 330m

Beijing20m

Shanghai23m

Guangdong76m

Shandong

54m


|

Chinas forecast power generation mix(TWh)

28

Despite the emergence of substitutes, Chinas powerwill continue to be predominantly generated by coal

Source: IEA World Energy Outlook 2011

Chart Book

79%Coal percentage of

power generation mix69% 68%

2009-2030 CAGR

Other alternatives 13.0%Wind 14.8%Hydro 3.4%Nuclear 11.7%Gas 10.9%Coal 4.0%

-

1 000

2 000

3 000

4 000

5 000

6 000

7 000

8 000

9 00010 000

11 000

2009 2020 2030

7,537

10,023

3,735


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|

26

34 49

61

88 96111

144

161

195

246

0

50

100

150

200

250

300

2007 2009 2011 2013 2015 2017

Indias thermal coal imports will likely more thandouble over the next 5 years to meet power demand

29Chart Book

Source: Wood Mackenzie, Dec 2011

India coal-fired electricity generation capacity and thermal coal imports

Indian Government plans to double coal-firedelectricity generation capacity by 2017

Nine ultra mega power stations with a capacity of4000 megawatts each are planned for construction

Smaller coal-fired power stations will becommissioned in the lead up to 2012 to supportrobust economic growth

Forecast

95

193

-

50

100

150

200

250

2010 2017

2x

India coal-fired electricity capacity

(gigawatts)

India thermal coal impor ts

(Mt)


|

Demand growth strength in later stages ofeconomic development

Slide 30

*Saturation level point at which consumption per capita does not increase with income levelsSource: Rio Tinto

2020Timeframe 2010 2040 2050World GDP/capita

2000 US$ PPP

2,000 10,000 18,000 26,000 34,000 42,000 50,000

Diamonds

Crude steelAluminium

Titanium Dioxide

Borates

Copper

58,000

Nickel

2030

Titanium dioxide

Inflection point not yet reached for many of our productsPercentage of saturation level*

Chart Book 30


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|

Rio Tinto sales to China($bn)

31

Rio Tinto continues to benefit fromChinas rapid growth rates

Chart Book

$0.9bn

$1.5bn

$3.1bn$4.1bn

$6.0bn

$10.8bn $10.7bn

$16..7bn

$20.1bn

$8.5bn

8%

10%

15% 16%

18%19%

24%

28%

31%31%

0%

5%

10%

15%

20%

25%

30%

0

5

10

15

20

25

03 04 05 06 07 08 09 10 11 H1 12

Iron ore Copper Aluminium Other % of total global sales

Product group information

32Chart Book


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|

Record production and sales fromPilbara iron ore operations

Lower prices partly offset by highervolumes

5 Mt annual capacity increasethrough low capex debottlenecking

Poised for major expansion

Scaling up deployment of innovativetechnologies to improve productivity

Iron ore underlying resultsUS$ billions

33

Iron ore: record Pilbara production and salesalongside major project development

01

2

3

4

5

6

7

8

9

10

H1 08 H1 09 H1 10 H1 11 H1 12

Underlying EBITDA Underlying earnings

Chart Book


|

Capital expenditure on time and onlocal currency budget

Further 5mt at end of Q1 2012:increased Pilbara capacity to

230Mt/a 283 Mt/a expansion fully approved

353 Mt/a expansion port and railinfrastructure fully approved

Pilbara mineralisation to last > 50years even on elevated productionvolumes

Capital intensity from 220 Mt/a to 353Mt/a expected around mid US$150/ton a 100% basis, with our share of

capital intensity expected around midUS$130/t

Unrivalled global iron ore expansion programme34

Cape Lambert expansion

Chart Book

1.8 km

Each berth 400 m

1.8 km

Car dumpers(x2)

Tug harbour

2.5 kmExisting CapeLambert Port

2nd 50 Mt/a

1st 53 Mt/a

CD1 car dumperreplacement (20 Mt/a)


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|

Unrivalled global iron ore expansion programme

Pilbara expansion remains on timeand local currency budget

Dredging now complete

Phase one piling for 283Mt/acapacity 85% complete

Potential expansions beyond353 Mt/a through majordebottlenecking

Progressive investment at Simandoua further step towards developmentand ramp up

0

50

100

150

200

250

300

350

400

2011 2012F 2013F 2014F 2015F 2016F

283 Mt/afirst ore inQ4 2013

353 Mt/afirst ore inH1 2015

Expected Pilbara production (100 per cent)Million tonnes

35Chart Book


|

Our world-class Pilbara iron ore product

Slide 36

Pilbara iron ore: mines, products, ports and product specifications

Chart Book 36

Yandicoogina

PIS

Mesa Mesa

A JPIS

Channel Iron Deposits

HIY

F

RV

L & F

Cape Lambert

Banded Iron Formation derived Iron Deposits

Pilbara Blend (PB)

L & F

Dampier

Mines

Ore-types

Ore group

Products

L & F

Ports

Brockman 2

B

Paraburdoo(inc. Channar

Eastern Range)B

Brockman 4

B

Nammuldi

MM

West Angelas

MM

Hope Downs 1

MM

Marandoo

MM

Mt Tom Price

B & MM

Ore-types

B = Brockman Iron Formation MM = Marra Mamba Iron Formation PIS = Yandicoogina pisolite PIS = Robe Valley pisolite

Product characteristics Fe (dry basis) MoisturePilbara Blend Lump 62.5% 4.0%Pilbara Blend Fines 61.5% 8.5%Robe Valley Lump 57.0% 6.0%Robe Valley Fines 57.0% 7.0%

Yandicoogina Fines 58.5% 9.0%


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|

About 60% of global products toChina and about 35% to Japan,

Korea and Taiwan Our contract portfolio focuses on:

Diversification of markets andcustomer segments

Matching products to segmentsthat value them the most

Ensuring full offtake

Approximately 40% of sales pricedby reference to average index forprevious quarter with 1 month lag

Rio Tinto iron ore sales contract portfolio(Proportion of pricing mechanisms)

37

Continued evolution of our salescontract portfolio

*Includes HI, HD, RR + IOC contract tonnes

Chart Book

Spot

QuarterLag

FY 2010

Current

Quarter

Lag

QuarterActual

Monthly


|

Challenges of bringing on new iron ore supply

Announcements from others do notnecessarily translate to supplycapacity

Competition for labour with oil/

gas Reduced sources of project

financing

Protracted approvals processes

Shortage of specialist miningskills

Difficulty working in remotelocations

High cost Chinese domestic supply

required to meet demand in theshort to medium term

38Chart Book

0

200

400

600

800

1000

Announced for 2011-13 Completed by Q1 2012

0

200

400

600

800

1000

Announced for 2008-10 Completed by Q4 2010

Certain Probable Possible Rio Tinto Other

Announced and completed iron ore product ioncapacity (global)(Million tonnes)

Source: UNCTAD, Rio Tinto


24/49


|

Major iron ore production*(million tonnes)

39

Iron ore: supply continuesto fall short of forecasts

Rio Tinto Pilbara iron ore(million tonnes)

*Data set comprises Rio Tinto Pilbara, BHP Billiton and ValeSource: Deutsche Bank, Rio Tinto

Source: Deutsche Bank, Rio Tinto

400

600

800

1000

2007 2008 2009 2010 2011 2012 2013

2007-8 forecast 2011-12 forecast Actual

-158 Mt

100

200

300

400

2007 2009 2011 2013 2015

Jun-08 forecast Nov-11 forecast Actual

-31 Mt

Chart Book


|

-40

-30

-20

-10

0

10

20

30

40

50

60

0%

50%

100%

150%

200%

250%

Western Australian construct ion projects performanceCost (% of local currency budget)

We have demonstrated superior performancein delivering Pilbara projects on time and on budget

Over budgetbehind schedule

Under budget

ahead ofschedule

Monthsover

budget

RTIO pro jects Non RTIO pr ojects

Source: Pit Crew Management Consulting Services, Rio Tinto

40Chart Book


25/49


|

Integrated system development to support353 Mt/a and beyond

41Chart Book


|

Indicative ownership shares as of December 2031. Assumes theGovernment of Guinea exercise their 10% at cost option and 10%option at market value.

Strong co-operation with our partners is enablingsolid progress to be made at Simandou

Largest integrated mining projectin Africa

Secured tenure and full support of

Government of Guinea and Chalco Establishing a robust infrastructure

investment framework withGovernment of Guinea

JV with Chalco finalised, triggeringthe earn-in payment of US$1.35 bn

42Chart Book

Govt.Guinea

IFCRio Tinto/

Chalco

Simfer SA

Rail and PortServices

Agreemen t

35% 3.25% 61.75%

51% 2.5% 46.5%

Mine

Infrastructure

Govt.Guinea

IFCRio Tinto/

Chalco

Infrastructur e SPV

Tariff


26/49


|

Further progressive commitment ofUS$0.5 billion (100% basis $1.0 billion)

Rail line works and marine structuresto enable 2015 ore exports

Complete definitive engineering

4 logistic supply centres and 22camps along the railway line

Phased development and ramp up of Simandou43Chart Book

Summary of Simandou spend to date ($bn)

Spend prior to Chalco earn-in $1.9

Government settlement $0.7

Chalco earn-in $(1.3)

June 12 announcement (RT share) $0.5

Total Rio Tinto commitment $1.8

Government infrastructure share $(0.5)

Net Rio Tinto commitment $1.3


|

Expandable high quality resource base withsignificant exploration potential

Concentrator capacity of 22 Mt/a (23.3 Mt/a postCEP2 expansion), pellet plant capacity 12.5 Mt/a

Mine

Plant

Rail

Port

Ore upgraded often in excess of 65% Feconcentrate

Majority of concentrate converted to pellets (pelletplant capacity 12.5 Mt/a)

Product transported to port via ~400 km QNS&Lrailway

Rail capacity +80Mt/a, current fleet capacity of35 Mt/a

Year round, expandable deep water port

Vessel capacity currently 255kt

Port capacity currently 28Mt/a, expansion potentialto ~200Mt/a

IOC integrated mine to port production systemChart Book 44


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|

-1.0

-0.5

0.0

0.5

1.0

1.5

2.0

2.5

H1 08 H1 09 H1 10 H1 11 H1 12


Challenging market conditions andoperating environment

15% lower LME price half on half Continued high input costs Alma lock-out now resolved

Accelerating cost reduction efforts

Limiting growth projects in line withmarket conditions

Increased bauxite production driven bystrong demand

Expansion of Yarwun alumina refinery

complete, full capacity in Q3 2013

Alumin ium underlying resul tsUS$ billions

45

Aluminium: continued focus on productivityand business improvement

2011 OnwardsExcludes Pacific

Aluminium, Lynemouth,Sebree, Gardanne

refinery, and Europeanspecialty alumina

Chart Book


|

Disciplined portfolio management

Deliver cost and productivityimprovements

Focus on high return productioncreep and modernisation projects

Focused strategy will reshape thealuminium business

Best bauxite and energy positionsin the aluminium industry

Lowest carbon footprint

Modern, large-scale, long-lifeassets

First and second quartile positions

on the industry cost curve Leading AP Technology position

Rio Tinto Alcan: strategic focus on transformingthe aluminium business

46

Kitimat smelter, Canada

Yarwun refinery, Australia

Chart Book


28/49


| 47

Significant achievements since 2007with a clear pathway forward

13 assets identified for divestment or closureLynemouth smelter closed on 29 March 2012

Continued portfolio discipline

Over $1 billion EBITDA improvement via cost and productionefficiencies, capacity creep, optimisation of product mix

Focused capital investment on high-return brownfieldprojects and modernisation

$1.1 billion of synergies achieved into 2009

Sold Ningxia, Brockville, Ghana Bauxite Company Closed Beauharnois and Anglesey

Integrationand synergies

Strategic decisionsduring globalfinancial crisis

Portfoliomanagement

Businessimprovement

Investment

Phas

e1

Phase2

40%E

BITDAmargin

Chart Book


|

Positioned for almost 85% clean hydropower,lowest cost quartile power for smelting

Energy profile: 97% carbon free

Enhanced cost position with almost 65% self-generated power versus 34% industry average

Current power sources

Post-divestmentsand closures

Current power sources

Post-divestmentsand closures

Note: Post divestment and closures charts excludes Pacific Aluminium and other assets separated from Rio Tinto Alcansperimeter

48Chart Book


29/49

|


Business impr ovement initiativesPer cent of total EBITDA improvement

$250 million annual run rate on path to deliverover $1 billion EBITDA from our operations

Annual EBITDA imp rovementUS$ millions

Note: All data reflects the period 2011-2015 inclusive

49

Acceleration of cost reductionand continued creep in 2012-

2015 steepens improvementcurve

Cost reduction comprises50 % of EBITDA improvement: further reductions in SG&A additional procurement

efficiencies

Revenue contributions are drivenby volume creep, bauxite exportand VAP margins

Chart Book

|


$0.8

$0.8

$0.4

$0.3

$0.2$0.1

Sustaining Kitimat AP60ISAL Yarwun 2 Shipshaw

Yarwun expansion to 3.4mt willreach full capacity in Q3 2013 with90% of the capacity delivered byyear end 2012

Kitimat modernisation will moveproduction to first decile of industrycost curve

ISAL to increase production by 20%,improve cost curve position and addnew value added product cast house

AP60 is R&D platform forAP Technology commercialisation

2012 Capital expenditure$ Billions

50

Capital expenditure focused on brownfieldmodernisation projects

(1) Excludes equity accounted units.

Chart Book


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|

2012 2013 2014 20150 12 24 36 48

South of Embley

Yarwun 2

Kitimat

AP 60 Phase 1

ISAL

Project timeline(1)

51

Focused investment in Tier 1 projects

1 Represents timing of project completion and initial production

Chart Book

Approved Cur ren tstatus

Totalcapex(100%)

Capexremaining(100%)(2)

Capacityexpansion

Under

construction$0.5bn $0.2bn 40+ ktpa

Under

construction$1.1bn $0.3bn 60 ktpa

Under

construction$3.3bn $2.4bn

Increasefrom 282

ktpa to 420+ktpa

Complete $2.3bn - 2 mtpa

Feasibility

study


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|

Copper supply will continue to be constrained53Chart Book

Sources: Brook Hunt A Wood Mackenzie company

012345678

2004 2005 2006 2007 2008 2009 2010 2011

Disruption rates will continue(% of planned production)

Sovereign riskCopper supply location (%)

Increasing depthsIndicative depth of discoveries

Declining gradesAverage head grade treated (% Copper)

62% 54% 44%

36% 41%47%

9%

2000 2010 2020

Higher risk Medium risk Lower risk


|

3037

66

95100

2010 A 2011 2012 2013 2014 2015

Copper (Kt) Gold (Koz) Moly (Mlbs)

0

150

300

450

600

750

900

1,050

1,200

1,350

2010 A 2011 2012 2013 2014 2015

Copper (Kt) Gold (Koz) Moly (Mlbs)

Production profile2011- 2015 Production forecast

54

Our continued focus on production at low cost

Continued focus at low costC1 costs 2010 (c/lb)*

Source: Rio Tinto*Brook Hunts quoted C1 cash costs (C1 costs = cash costs net of by products)

Chart Book

CodelcoFreeport BHP

Billiton

XstrataRio Tinto

0

10

20

30

40

50

60

70

Kt Cu/ Koz Au Mlbs Mo


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|

Kennecott

Moly Autoclave Process progressing

Seven year LOM extension, south wall pushback

Tunnel boring and sorting technologiestested

Grasberg

Pre-production construction of Block Cave

Deep Mill Level Zone underground mines

From 2021 entitled to 40% of all production

Escondida

Organic Growth 1 Project (OGP 1)

Oxide Leach Area Project (OLAP)

Ore access, bioleach and de-bottleneckingprojects

Los Colorados concentrator relocation

Kennecott, Grasberg and Escondida55

Escondida, Chile

Grasberg, Indonesia

Chart Book


|

Turquoise Hill Resources:majority, 51% ownership

56

Rights offering completed 19 July 2012, yielding $1.8 billion ingross proceeds

No shares purchased under Rio Tinto standby commitment

Ensuring Oyu Tolgoi development remains on track In addition to US $1.8 billion interim financing facility, $1.8 billion

drawn as at the end of July 2012

$3 $4 billion Proceeds to repay bridge loan and interim finance facility Target agreement by end of 2012

Rio Tinto nominated 11 of 13 board members Majority of board remains independent Rio Tinto Senior Leadership team, including CEO and CFO

Own 74.2 million Series D Warrants exercisable for three yearsat US$10.37 per share

Quantity and price of Warrants adjusted for the rights issue andper the MOA

Equity financing

US$1.8 Billion

Bridge loan

US$1.5 Billion

Project financing

Board andmanagement changes

Warrants

Chart Book


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|

Oyu Tolgoi: a world class asset57

Large

Long life

Low cost

Note: 1 Ranked using 2013 Brook Hunt mine production data and Oyu Tolgois full capacity production.Source: Brook Hunt a Wood Mackenzie Company, Rio Tinto, Oyu Tolgoi LLC

Chart Book

A top five copper producer andmajor gold producer1

Average annual production of

425kt of copper and 460koz ofgold

3.1bt resource and 1.4btreserve

Potential for > 50 year mine life Highly prospective region with

further exploration potential

Significant by-product creditsfrom gold

Expected to have first quartilenet unit cash costs

Phase 1

Open pit mine

100,000 tonneper dayconcentrator

Preliminarydevelopmentof UG mine

Phase 2

Completedevelopmentof UG mine

Mill expansion

to 160,000tonnes per day

Power station


|

Attractive longer term growth profile58Chart Book

La Granja (100%)

#7 Worlds seventh largestundeveloped copperresource

Potential 500ktpa Cu for 40+years Investment decision

expected ~2014 for phase 1development

Starter mine conceptuallyplanned to commence 2016

First cathode product fromheap leach 2017

Resoluti on (55%)

#3 Worlds third largestundeveloped copperresource

High quality resource 1.47% copper withsignificant molybdenum

Potential 600ktpa Cu withinitial production ~2021

Prefeasibility andnegotiations for landexchange are ongoing

Source: Rio Tinto

0

20

40

60

80

100

120

140

160

0

100

200

300

400

500

600

0 9

Copper

(Ktpa)

Year

Mill Leach Ore processed

Processing capacity

(Mtpa)

La Granja staged development plan

Conceptual development plan


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|

Rio Tinto is entitled to 40% of allproduction in excess of the metal strip

2012 production not expected toreach amount set out in metal sharingagreement

Due to planned mine sequencing inlower grade areas

Accordingly, our share of production isexpected to be zero throughout 2012

Grasberg metal strip59Chart Book

Cu(m lbs)

Au(000 oz)

Ag(000 oz)

2012 1,035 1,283 4,0102013 1,066 1,471 4,268

2014 1,066 1,461 4,277

2015 1,057 1,493 4,156

2016 1,044 1,529 3,768

2017 1,008 1,589 3,359

2018 1,008 1,589 3,359

2019 1,024 1,589 3,396

2020 1,027 1,593 3,405

2021* 699 872 2,196

*Revisions were made to the 2021 metal strip following the industrial dispute in 2011.


0

0.5

1

1.5

H1 08 H1 09 H1 10 H1 11 H1 12


Earnings impacted by lower pricesand Australian cost inflation

Significant unseasonal wet weather

in Australia continued into July Closure of Blair Athol by end of 2012

First shipment of coking coal fromBenga in June

$227 million net gain on sale ofExtract and Kalahari interests

Energy underlying resultsUS$ billions

60

Energy: challenging marketand cost environment

H1 2010 includes $0.4 billion (pre-tax) and $0.2 billion (post-tax) profit ondisposal from Maules Creek and Vickery. H1 2012 earnings and EBITDAincludes $0.2 billion and $0.3 billion respectively for the profit on the sale ofExtract and Kalahari interests.

Chart Book


35/49


|

Tier one resource with expansion options;Moatize Basin is a 50yr+ opportunity

Strategic potential to grow beyond 40mtpacoal

Benga Mine officially opened May 2012;first shipment of coking coal June 2012.

Rio Tinto Coal Mozambique has beenintegrated into Rio Tinto

Developing cohesion and alignment ofresource development/assessmentplans

CEO and senior management team in

place

Rio Tinto standards for Health, Safety,Environment and Community

Rio Tinto Coal Mozambique: a tier one resource61Chart Book


|

Benga: first production in H1 2012

Benga: 65% Rio Tinto, 35% Tata Steel

Stage 1 production

2Mt of in-pit coal currently uncovered

Plant commissioned early 2012

2012 is constrained by lack of coal chaincapacity (target 800kt sales).

Stage 1 potential (when coal chain capacityin place): 5.3Mtpa Run of Mine (ROM) 1.5Mtpa hard coking coal product 0.9Mtpa thermal coal product

Power supply from the national grid

Stage 2 production

Growth potential up to 20Mtpa ROM (totalmine hard coking coal to 6Mtpa and 4Mtpathermal coal)

Potential for 2015 commissioning firstadditional module dependent on coal chaincapacity

Zambeze: 100% Rio Tinto

Potential production profile

First production 2016 dependent on coalchain capacity

Potential growth to 40mtpa (ROM) Mining concession application submitted toMozambique Government

20,000t bulk sample collected to further coalquality test work programme

Environmental and social impact assessmentunderway

62Chart Book


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|

Mozambique coal chain capacity growth path63Chart Book

First Coal June 2012 1-2 Mtpa RTCM

capacity Sena Line to Port ofBeira

RTCM rail operations

Barging options Capacity for 3Mtpa, growing to 10Mtpa+ River barging on Zambeze River, and

transloaded to OGV off shore

Expand existing rail and port export corr idors 2015+ Up to 40Mtpa across various corridors (RTCM share to be negotiated)

Greenfield Rail & Port 2018+ Potential to 100+Mtpa (RTCM

share to be negotiated) New infrastructure built on

new alignment


|

2012 production increase through NSW brownfield expansions ongoing Clermont Mine

business improvement programme

Hail Creek expanded to 8Mtpanameplate rate

Kestrel Mine Extension Extends life to 2032, low cost,

coking coal production to start 2013 incremental production (+1Mt) Capital cost increased to $2bn: 50%

FX, 20% inflation, 30% delay/scopecreep

Investment decision to be made onMount Pleasant an 8.5Mtpaoperation

Significant growth options across theAustralian portfolio

64

Bengalla, New South Wales

Chart Book


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|

QLD

Sufficient port/rail until greenfield

expansions come online 2017 Northern Missing Link completed

December 2011

Port capacity options post 2017

NSW

Port allocation at NCIG and PWCSto meet growth needs

New rail access undertakingapproved

Additional rail haulage beingnegotiated

Australian infrastructure65Chart Book

Operating sites

Undeveloped projects

Growth options

Legend

QLD

NSW


|

Strong earnings growth in titaniumdioxide will continue as supplytightens and long term pricedcontracts unwind

Sustained price growth for boratesexpected

Doubled stake in RBM to drivefurther earnings growth

Strong long term fundamentals fordiamonds seeking to extract morevalue through different ownership

structure

Diamonds and Minerals1 resultsUS$ millions

66

Diamonds and Minerals: strong fundamentalsdrive price, earnings growth

0

100

200

300

400

500

600

H1 2010 H2 2010 H1 2011 H2 2011 H1 2012

EBITDA Earnings

1. Includes RTIT, RTM, RTD, DSL, Talc (until disposal in mid 2011).

Chart Book


38/49


|

Portfolio of industry leading businesses

Minerals

#2 producer ofrefined borates

Tier one mine inCalifornia withexpansionoptionality

Jadar lithium-borateproject in Serbia

Potash ExplorationJV in Saskatchewan

Titanium dioxide

#1 producer of TiO2feedstocks

#2 producer of zircon

Mines in SouthAfrica, Canada,Madagascar withsignificant expansion

potential Portfolio optimised

through proprietaryproductiontechnology andexpertise

Diamonds

#3 rough diamondproducer globally

Leader in theproduction ofcoloured diamonds

Mines in Australia,

Canada, Zimbabwe Project in India

Strategic reviewunderway

Salt

#1 exporter of solarsalt

JV between RioTinto (68%),Marubeni (22%),Sojitz (10%)

3 mines in WesternAustralia

Slide 67

Chart Book 67


|

5,000

6,000

7,000

8,000

9,000

10,000

Online supply Committed projects Demand

RTIT is well positioned to capture market growth

TiO2 demand developmentMillion tonnes, pigment (LHS), crude steel (RHS)

Committed supply and demand growthkmt TiO2 feedstock

Expected TIO4 supplycontribution

Future wealth and demographic profilestranslate to an unprecedented surge indemand for TiO2 in pigment

Little investment in new mine and smeltingcapacity in past two decades

Continuing to replace long-term pricecontracts, increasing exposure to currentmarket prices

Studies to expand mining and refiningcapacity by up to 50% launched in May2012 and aims to capture more than 20% ofdemand growth out to 2020

Strong resource position to capture furtherdemand upside

Industry leader in reliability, furnace life,energy efficiency and scale

Source: Rio Tinto, World Steel Association

Slide 68

2005 2007 2009 2011 2013 2015 2017 2019

Chart Book 68


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|

Building blocks for the growing middle class

Paints and coatings (58%)

Plastics (22%)

Paper (9%)

Other, eg inks, fabrics, cosmetics (11%)

Industrial (51%)

Aerospace (29%)

Mil itary (11%)

Automotive/medical/sporting goods (9%)

Ilmenite mining(33 60% TiO2 feedstocks)

Upgrading(80 - 95% TiO

2

feedstocks)

TiO2 pigments(90% of production)

Titanium metals(5% of production)

Sources: Rio Tinto, TZ Minerals International

Fluxes and welding rods(5% of production)

Industrial uses

Slide 69

Chart Book 69


|

Proprietary processes and products (RTFT)

UGS plant

RTFT Ilmenite(hard roc k)

QMM Ilmenite(mineral sands)

Smelter9 furnaces

Sorelflux = crushed andscreened lump ilmenite oreused by steelmakers tocombat blast furnace heartherosion

Liquid iron

Sorelmetal: high -purity iron-carbonalloy used toproduce castingswith high impactresistance(capacity = 300 ktpa)

Sorelslag(80% TiO2) sulphate

pigment process

RTCS slag(90% TiO2) chloride

pigment process

UGS plant Steel p lant Metal powd er plant

UGS (95% TiO2)chloride pigmentprocess and titaniummetal

Sorelsteel billets for highquality wire and seamlesstubes (capacity = 500 ktpa)

Iron pow ders (capacity = 40 ktpa) andsteel powders (capacity = 110 ktpa)used by the automotive industry

TiO2feedstocks(capacity =~1.2 mtpa)

Slide 70

Chart Book 70


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|

Proprietary processes and products (RBM)

Dredge and FloatingConcentrator Plant

Mineral separationplant

Rutile and zircon

Dryer

Electrostatic separation

Rutile used primarily inpigment manufacture(capacity = 100 ktpa)

Zircon used in ceramicsand refractories

(capacity = 300 ktpa)

Smelter4 furnaces

Liquid iron

Pig iron used toproduce castingswith high impact

resistance(capacity = 500 ktpa)

Titanium dioxide slag(85% TiO2)

chloride pigmentprocess

(capacity = ~1 mtpa)

Heavy mineral con centrate

Ilmenite

Slide 71

Chart Book 71


|

TiO2 pricing outlook remains strongPrice progression estimates from TZMI and brokersUS$ nominal

TiO2 contract volumes 2011 2015 (kt)

Previous multi-year pricing mechanisms haveguaranteed volumes, but limited exposure to marketpricing

These are being replaced with new long-termcontracts with shorter-term pricing (quarterly or pershipment)

Some customers prefer to secure longer term

volumes by reopening existing contracts early

Price negotiations held to date have reflected tightmarket conditions

Short term pricing exposure limits downside risk ofunder-selling

Price discovery mechanisms include auctions(zircon) and negotiations (TiO2)

Source: TZMI and broker reports

0

500

1000

1500

2000

2500

2011 2012 2013 2014 2015

Longer-term pr ic ing Shorter-term pr ic ing

Source: Rio Tinto

Slide 72

Chart Book 72

0

0.51

1.5

2

2.5

2007 2008 2009 2010 2011

Co-product revenueTiO2 revenue

RTIT revenue by produc t li ne (US$bn, 100% basis)


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|

2007 2009 2011 2013 2015 2017

Slide 732012 Rio Tinto, All Rights Reserved

Driving productivity and performance in borates

ProductionB203 kmt

Demand growth driven by energy efficiency,food supply, consumer trends

Tier 1 orebody at Boron, California, withconsistent product quality and supply

reliability

Options for incremental capacity expansionthrough strategic production planning at low

capital intensity

Jadar lithium borate project can deliver twohigh value product streams from one mine

Borate demand driversCumulative kmt boric oxide B2O3 equivalent

11%

6.4%

5.9%

CAGR

Source: Rio Tinto

UrbanisationEnergyEfficiency

Agriculture

1000

800

600

400

200

0

Chart Book 73

2011 borate demand by end use


|

Significant presence in the diamonds industry

Production of 11.7 million carats and revenue ofUS$726 million in 2011

Third largest rough diamond producer globallyby volume, behind Alrosa and De Beers

Supplies all major markets with a leadershipposition in emerging markets

Expected significant growth in production overthe next five years

The worlds largest producer of coloureddiamonds

Supplier of more than 90% of the worlds rarepink diamonds

74

Source: Rio Tinto

Supply demand balance (US$bn)

Global share of production by value (2011)

Chart Book

0

5

10

15

20

25

30

2010 2012 2014 2016 2018 2020

Rough Demand value (US$b)

Rough Supply value (US$b)

CAGR (2010-20)6.1%

CAGR (2010-20)0.8%

28%

24%10%

2%

2%3%

7%

16%

9%

Alro sa

Source: Rio Tinto


42/49

Corporate information

75Chart Book


|

Modelling earnings76

Earnings sensitivity2012 firs t half average

price / rate 10% Change

Impact on full yearunderlying earnings

($m)

Copper 367c/lb +/-37c/lb 234

Aluminium $2,081/t +/-$208/t 399

Gold $1,652/oz +/-$165/oz 32

Iron ore +/-10% 1,073

Coal* +/-10% 186

A$ 103 Usc +/-US10.3c 981

C$ 99 Usc +/-US9.9c 256

*For both thermal and coking coal


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|

Principal corporate activity 2005 to 200977Chart Book

2005 Buy-back of Rio Tinto Limited shares (off-market) $774m Buy-back of Rio Tinto Plc shares $103m

2006 Buy-back of Rio Tinto Plc shares (up to 31st December 2006) $2,370m Purchase of 9.95% shareholding in Ivanhoe Mines $303m

2007 Buy-back of Rio Tinto Plc shares $1,624mAcquisition of Alcan $37,481m

2008 Sale of 70.3% interest in Greens Creek $750m Sale of 40% interest in Cortez gold mine $1,695m Sale of Kintyre uranium project $495m

2009 Sale of potash projects in Argentina (Potasio Rio Colorado) and Canada $850m Sale of Corumb mine in Brazil $814m Sale of Jacobs Ranch coal mine in US $764m Cloud Peak IPO and related debt offering $741m Net equity raised via rights issues to shareholders $14.8bn Increase in stake in Ivanhoe Mines to 19.7% $388m Sale of Alcan Composites $349m


|

Principal corporate activity 2010 to 201278Chart Book

2010 Sale of majority of Alcan Packaging to Amcor $1,948m Sale of Coal & Allied undeveloped properties (Maules Creek and Vickery) Rio Tinto share $306m Sale of Alcan Packaging Food Americas to Bemis Inc $1,200m Increase in stake in Ivanhoe Mines to 40.1% $1,591m

Sale of remaining 48% stake in Cloud Peak Energy $573m

2011 Increase in stake in Ivanhoe Mines to 42.1% and participation in rights offering $751m Increase in stake in Ivanhoe Mines to 46.5% $502mAcquisition of Riversdale Mining Ltd (net of cash acquired) $3,690m Sale of talc business to Imerys enterprise value $340m Increase in stake in Ivanhoe Mines from 46.5% to 49% $607m Increase in holding in Coal and Allied from 75.7% to 80% $266mAcquisition of Hathor $536m Buy-back of Rio Tinto plc shares (up to 31 December 2011) $5.5bn

2012 Purchase of remaining shares in Hathor $76m Increase in stake in Ivanhoe Mines from 49% to 51% $308m Buy-back of Rio Tinto plc shares (up to 26 March 2012) $1.5bn

Increase in stake in Richards Bay Minerals from 37% to 74% $1.7bn

Note: only selected transactions are shown.


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|

Ongoing major capital projects (1 of 6)79Chart Book

Al l numbers on 100% bas is (US$)Approvedcapital cost Status

Iron ore Two phased expansion ofIron Ore Company of Canada (IOC)(Rio Tinto 58.7%) from 18 to 22 Mt/aand then to 23.3Mt/a

$0.8m Phase one is currently being commissioned as planned.Phase two is progressing with first production expected inlate 2012.

Iron ore Expansion of the Pilbaramines, ports and railways from 230Mt/ato 283Mt/a. Rio Tintos share of capexis $8.4 bn.

$9.8bn The phase one expansion to 283Mt/a is due to comeonstream by the end of 2013. Dredging at Cape Lambert iscomplete and pilings are 85 per cent complete.

Iron ore Expansion of the Pilbaraport and rail capacity to 353Mt/a. RioTintos share of capex is $3.5 bn.

$5.9bn The phase two expansion to 353Mt/a is expected to comeonstream in the first half of 2015. This includes the portand rail elements which are now fully approved and aninvestment in autonomous trains. The key component ofthe project still requiring approval is further mineproduction capacity.

Iron ore Development of HopeDowns 4 mine in the Pilbara (Rio Tinto50%) to sustain production at 230 Mt/a

$2.1bn Approved in August 2010, first production is expected in2013. The new mine is anticipated to have a capacity of 15Mt/a and a capital cost of $1.6 billion (Rio Tinto share $0.8billion). Rio Tinto is funding the $0.5 billion for the rail spur,rolling stock and power infrastructure.


|



Iron ore Phase two of the Marandoomine expansion in the Pilbara tosustain production at 230 Mt/a

$1.1bn Approved in February 2011, the mine will extend Marandooat 15 Mt/a by 16 years to 2030.

Iron ore Investment to extend the lifeof the Yandicoogina mine in the Pilbarato 2021 and expand its nameplatecapacity from 52 Mt/a to 56 Mt/a.

$1.7bn Approved in June 2012, the investment includes a wetprocessing plant to maintain product specification levelsand provide a platform for future potential expansion.

Iron ore Investment in detaileddesign studies, early works and long-lead items at the Simandou iron oreproject in Guinea, West Africa.

$1.0bn Approved in June 2012, the investment (Rio Tinto share$501 million) is primarily for rail and port infrastructure withfirst commercial production planned for mid-2015. Timingof the ramp up is dependent on receiving necessaryapprovals from the Government of Guinea and on theGovernment of Guinea progressing and finalising itsfinancing strategy.


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Aluminium Construction of a new225MW turbine at the Shipshaw powerstation in Quebec, Canada

$0.3bn Approved in October 2008, the project remains on track tobe completed in December 2012. An additional $40m wasapproved in 2011 due to currency impacts and scopechanges.

Aluminium Modernisation of ISALsmelter in Iceland

$0.5bn Approved in September 2010, the project is expected toincrease production from 190kt to 230kt by the thirdquarter of 2014. The new casting facility produced its firstbillet in the second quarter of 2012

Aluminium 60kt per annum AP60plant in Quebec, Canada

$1.1 bn Approved in December 2010, first hot metal is expected inFebruary 2013.

Aluminium Modernisation andexpansion of Kitimat smelter in BritishColumbia

$3.3bn A further amount of $2.7bn was approved in December2011. This was in addition to the cumulative spend of$550m. It will increase capacity from 280ktpa to 420ktpa.Expected to come onstream in first half of 2014.


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Molybdenum Investment in the MolyAutoclave Process (MAP) in Utah,United States to enable lower-grade

molybdenum concentrate to beprocessed more efficiently thanconventional roasters and allowimproved recoveries

$0.5bn The facility is due to come onstream by the second quarterof 2013 followed by a 12 month period to reach fullcapacity

Nickel Construction of the Eaglenickel and copper mine in Michigan,United States.

$0.5bn Approved in June 2010, first production is expected inearly 2014. The mine will produce an average of 16kt and13kt per year of nickel and copper metal respectively overseven years.

Copper Construction of phase one ofOyu Tolgoi copper/ gold mine inMongolia. In 2012, Rio Tinto increasedits stake in Ivanhoe to 51%. Ivanhoeowns 66 % of OT.

$5.9bn The Oyu Tolgoi project was 90 per cent complete at 30June 2012. First commercial production is expected in thefirst half of 2013.Turquoise Hill is due to release its second quarter resultson 14 August 2012.


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Copper Development of OrganicGrowth Project 1 and the Oxide LeachArea Project at Escondida (RT share30%), Chile.

$1.4bn(RT share) Approved in February 2012, OGP1 primarily relates toreplacing the Los Colorados concentrator with a new 152ktper day plant, allowing access to high grade ore.Construction of the new plant is expected to be completewithin three years. OLAP maintains oxide leachingcapacity.

Copper Grasberg project funding for2012 to 2016

$0.9bn(RT share)

Investment to continue the pre-production construction ofthe Grasberg Block Cave, the Deep Mill Level Zoneunderground mines, and the associated commoninfrastructure. Rio Tintos final share of capital expenditurewill in part be influenced by its share of production over the2012 to 2016 period.

Copper- Investment over next sevenyears to extend mine life at KennecottUtah Copper, United States from 2018

to 2029.

$0.7bn The project was approved in June 2012. Ore from thesouth wall push back will be processed through existingmill facilities. The investment will enable production at an

average of 180kt of copper, 185koz of gold and 13.8kt ofmolybdenum a year from 2019 through 2029.


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Thermal coal 20 year extension andexpansion from 4.3 Mt/a to 5.7 Mt/a atKestrel (Rio Tinto 80%), Queensland,

Australia

$2.0bn The investment will extend the life of the mine to 2031 andis expected to come onstream in the second quarter of2013. Capital cost increased from $1.1bn: 50% of the

increase relates to exchange rates, 20% from higherinflation and 30% due to delays and scope changes.

Diamonds Argyle Diamond mineunderground project, extending themine life to at least 2019. (Originallyapproved in 2005, the project wasslowed in 2009 and restarted inSeptember 2010.)

$2.2bn An additional $0.6bn was approved in November 2011,primarily reflecting the impact of a record 2010/11 wetseason and adverse exchange movements. Production isexpected to commence in the first half of 2013 with fullproduction in 2014.


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At 15 August 2012(US$bn)

85

Market capitalisation of majorlisted mining companies

Chart Book

16.1

16.4

16.617.4

22.6

22.6

23.426

27.6

30.9

31.5

34.1

34.837.7

39.6

44.3

71.1

90.5

105

159.5

0 50 100 150

FresnilloAntofagasta

NewcrestTeck Cominco

Newmont Mining

Grupo Mexico

Mosaic

Southern Copper CoGoldcorp

Norilsk

Freeport

Glencore

Barrick Gold

Potash Corp

XstrataAnglo American

Shenhua

Rio Tinto

Vale

BHP Billiton


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At 13 August 2012(%)

86

Geographical analysis of Rio Tinto shareholdersChart Book

37

19

19

9

16

UK North America Australia Europe Asia


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Rio Tinto executives87Chart Book

ChairmanJan du Plessis

CEOSam Walsh

CFOGuy Elliott

Alu min iumMontreal

JacyntheCt

CopperLondon

AndrewHarding

Diamonds& MineralsLondon

AlanDavies

BusinessSupport &Operations

London

BretClayton

Legal &ExternalAff air s

London

DebraValentine

EnergyBrisbane

HarryKenyon-Slaney

People &Organisation

London

HugoBague

Technology& Innovation

Salt Lake

PrestonChiaro

Chairman

Group executive / directors

ExCo

Iron OrePerth

PaulShannon(1)

(1) Acting head of Iron Ore, as of 17 January 2013


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Rio Tinto Boards diverse,operational experience

88Chart Book

Role Name Sector experience

Chairman Jan du Plessis Finance former chairman of BAT plc

Executive Director Sam Walsh CEO since 2013, CEO Rio Tinto Iron Ore since 2004, CEOAluminium 2001-2004, Rio Tinto since 1991

Executive Director Guy Elliott Rio Tinto since 1980, CFO since 2002

Non-executive Directors Robert Brown Aerospace Chairman of GroupeAeroplan Inc. Joined Boards on1 April 2010

Vivienne Cox Oil and Gas Head of Gas Power, Renewables and Trading, BPplc

Michael Fitzpatrick Finance Founder and former director of Hastings FundManagement

Ann Godbehere Finance former CFO of Swiss Re. Joined Boards on 9 February2010. Chairman of the Audit committee


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Rio Tinto Boards diverse,operational experience (contd)

89Chart Book

Role Name Sector experience

Non-executive Directors Richard Goodmanson Chemicals ex COO of DuPont

Lord Kerr Govt/Foreign Affairs Head of UK Diplomatic Service,Ambassador in USA/EU. Deputy Chairman of Royal Dutch Shellplc

Chris Lynch Mining and metals former CFO of BHP Billiton and formerlygroup president Carbon Steel Materials. Prior to this he spent 20years with Alcoa Inc. Currently chief executive officer ofTransurban Group.

Paul Tellier Aluminium / Government former non-executive director of Alcan,former CEO of Bombardier and Cabinet Secretary to Governmentof Canada

John Varley Finance former CEO of Barclays. Chairman of theRemuneration Committee. Current non-executive directorships at

AstraZeneca plc and BlackRock Inc. He remains a senior advisor

to Barclays.

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