Stmnt re Northparkes Mines

Rio Tinto PLC
23 January 2001

                                                                              
                  Northparkes Mines Lift 2 Project approved                   

 
Rio Tinto has approved the implementation of Northparkes Mines' (Rio Tinto
80 per cent) Lift 2 Project at its E26 underground copper-gold mine, near
Parkes, New South Wales.
 
The E26 Lift 2 has an ore reserve of 25 million tonnes grading 1.2 per cent
copper and 0.48 grams/tonne gold and is planned to be developed over 2001 to
2003. With Lift 1 production forecasted to be depleted by 2004, approval for
the development of the lower orebody was required in order to achieve a
smooth production transition and to maintain Northparkes' production through
until 2010.
 
The total cost of the development and construction program is estimated at
A$139 million.
 
Following approval from Rio Tinto and Northparkes' Joint Venture partners,
Sumitomo Metal Mining and Sumitomo Corporation, it is expected that
construction works for the Lift 2 project will commence in early February
2001.
 
 
 
 
For further information, please contact:
 

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