Energy Resources of Australia

Rio Tinto PLC
10 October 2005


Rio Tinto's 68.4 per cent owned subsidiary, Energy Resources of Australia (ERA),
issued the following news release in Australia today.


ERA announces capital restructure


Energy Resources of Australia Ltd (ERA) announced today that the holders of all
unlisted 'B' and 'C' class shares (Cameco, COGEMA and JAURD - see below) have
agreed to convert their shares to 'A' class shares.  ERA's 'A' class shares are
quoted on ASX.  Upon conversion of the 'B' and 'C' class shares, ERA will seek
quotation of the new 'A' class shares on ASX. In accordance with ERA's
Constitution, each 'B' and 'C' class share will convert to one 'A' class share
and will rank equally with all other 'A' class shares.


If quotation is approved, the number of ERA's shares quoted on ASX will increase
to 190,737,934 which will comprise all of ERA's issued capital.


On conversion of the 'B' and 'C' class shares to 'A' class shares, the directors
appointed by the 'B' and 'C' class shareholders will automatically cease to be
directors of ERA under ERA's constitution.


Rio Tinto Limited, through its wholly owned subsidiaries Peko-Wallsend Pty Ltd
and North Limited, holds 130,450,104 'A' class shares (representing 68.39 per
cent of ERA's issued capital). The balance of the 'A' class shares (being
12,415,341 shares, representing 6.51 per cent of the company) are held by public
shareholders.


Details of the holders of the 'B' and 'C' class shares are:


•  the Canadian group Cameco Corporation through Cameco Resources
Australia Pty Ltd (holding 12,769,348 'B' class shares, representing 6.69 per
cent of ERA's issued capital),


•  the French group COGEMA through Interuranium Australia Pty Ltd
(holding 14,804,120  'B' class shares, representing 7.76 per cent of ERA's
issued capital), and


•  Japan Australia Uranium Resource Development Company Limited (JAURD)
of Japan (holding 20,299,020 'C' class shares, representing 10.64 per cent of
ERA's issued capital).


ERA has been informed by Cameco, COGEMA and JAURD that they currently intend to
sell their 'A' class shares once they are quoted on ASX. The intention is for
the sale to be undertaken through a single offer to professional investors to be
made by the end of November this year.


The 'B' and 'C' class shareholders, the Rio Tinto shareholders and ERA have
agreed, with immediate effect, to terminate their existing Shareholders'
Agreement in relation to ERA.


ERA, the Rio Tinto shareholders and JAURD have also entered into a Cooperation
Agreement pursuant to which ERA and the Rio Tinto shareholders have agreed to
grant certain rights to JAURD with effect from the termination of the
Shareholders' Agreement, including the following:


•  while the Rio Tinto shareholders hold more than 50 per cent and JAURD
holds at least 7.5 per cent of the shares in ERA, the Rio Tinto shareholders
have agreed to support the appointment of one JAURD nominee to the ERA Board and
the continuation of ERA's current dividend policy; and


•  while JAURD holds at least 10 per cent of the shares in ERA, in the
event that ERA proposes to issue additional securities to investors, ERA has
agreed to offer such number of additional securities to JAURD on the same terms
so that, if JAURD accepts the offer, JAURD's shareholding will not fall below 10
per cent.


For further information, please contact:

LONDON                                               AUSTRALIA

Media Relations                                      Media Relations

Maria Darby Walker                                   Ian Head

Office:  [phone]                        Office:  [phone]

                                                     Mobile: [phone]

Investor Relations                                   Investor Relations

Nigel Jones                                          Dave Skinner

Office: [phone]                         Office:  [phone]

Mobile: [phone]                         Mobile: [phone]

Richard Brimelow                                     Susie Creswell

Office:  [phone]                        Office:  [phone]

Mobile: [phone]                         Mobile: [phone]


Website: www.riotinto.com


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