Peak Gold and Alumbrera

Rio Tinto PLC
15 January 2003

           Rio Tinto intends to sell Peak Gold and Alumbrera interest


Rio Tinto and Wheaton River Minerals ('WRM') have signed a non-binding letter of
intent under which Rio Tinto acknowledges its intention to sell its 25% interest
in Minera Alumbrera Limited, Argentina, together with its wholly owned Peak Gold
Mine in New South Wales, Australia to WRM.  Consideration will be US $210
million.  WRM has the option to defer the payment of up to US $70 million for up
to 24 months.

The transaction is subject to WRM and Rio Tinto reaching agreement on all terms
and entering into a definitive agreement.  Completion will be subject to a
number of conditions including the waiving of pre-emption rights, obtaining all
requisite regulatory and other third party approvals and consents, the
satisfaction of customary closing conditions and WRM raising the required
financing.

For further information, please contact:

LONDON                                                  AUSTRALIA
Media Relations                                         Media Relations
Hugh Leggatt                                            Ian Head
+ 44 (0) 20 7753 2273                                   [phone]
Investor Relations                                      Investor Relations
Peter Cunningham                                        Dave Skinner
+ 44 (0) 20 7753 2401                                   [phone]
Richard Brimelow                                        Daphne Morros
+ 44 (0) 20 7753 2326                                    [phone]

Website: www.riotinto.com


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