Iron ore price settlement

Rio Tinto PLC
18 May 2006

Iron ore price settlement


Hamersley Iron has today reached agreement with major Japanese Steel Mills on
the price for Hamersley fine iron ore deliveries for the contract year
commencing 1 April 2006. Under these agreements, the price of fine ore will
increase by 19 per cent.

Sam Walsh, Chief Executive of Rio Tinto's Iron Ore Group, said, 'This year's
pricing reflects the current international market, which is characterised by
extremely tight supply and a continuing high level of demand.'


For further information, please contact:

LONDON                                           AUSTRALIA

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Investor Relations                               Investor Relations
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David Ovington                                   Susie Creswell
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Website: www.riotinto.com






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