Slide 1: ASX cover letter: Australian financial community site tour
RIO TINTO External Affairs Telephone: #61 3.9283 3360 Facsimile: +61 3 9283 3216 5 June 2005 Company Announcements Office Australian Stock Exchange Limited SYDNEY NSW 2000 Dear Sir, The attached presentations were given by Rio Tinto Aluminium and Rio Tinto Coal Australia on 5 June 2006 as part of Ri
Slide 2: Rio Tinto Aluminium – Financial community site visit
RIO TINTO MLUMENEUM Rio Tinto Aluminium Phillip Strachan Chief Financial Officer - Rio Tinto Aluminium Financial cornmunity site visit ~ June 2006 RIO TINTO ALUMINIUM Venue safety « Alarm « Fire exits « Assembly point FHEG: AEGIS: ZER _ “Tf it’s not safe, don’t do it that way”
Slide 3: RTA presentation outline
RIO TINTO MLUMENEUM RTA presentation outline Phillip Strachan RTA Overview {20 mins} Hubie var Daisen Mining & Refining {20 mins} Sandeep Biswas Smelting {20 mins) Panel Questions & answers {30 mins} RIO TINTO ALUMINSUM Overview + Strategy + Rio Tinto Aluminium operations * 2005 Operational performa
Slide 4: Rio Tinto Aluminium strategy
RIO TINTO ALUMINEUM Rio Tinto Aluminium strategy To maximise value by: + Building on the outstanding resource at Weipa where reserves can support current production rate for at least 70 years + Increasing alumina production + Pursuing smelting opportunities with competitive power pricing + Opportuni
Slide 5: RTA safety performance and record earnings in 2005
RIO TINTO MLUMENEUM RTA safety performance - LTIFR 75 68 6.0 $.3 AS 3.8 3.6 2.3 Last tiene injury frequency rate 4S 0.8 0.6 1999 2006 2063 2064 2605 RIO TINTO ALUMINIUM Record performance in 2005 Rio Tinto Aluminium earnings history Earnings - by commodity (2005) USS ° Diamonds 8% Ginar 13% 450 Indu
Slide 6: RTA material flows; tight alumina market
RIO TINTO ALUMINEUM RTA material flows (capacity) 4a Kt 100% supply basis (51%) by 73 kt External 1.4 Mt purchases 0.3 Mt CAR 3.1 Mt 100% 1.4 Mt 336 kt 474 kt 3.9 Mt ¥ Weipa Bauxite | err Alumina N Mota 100% 16.5 Mt 38.6% 3.8 Mt B54 kt 8.4 Mt] 1.5 Mi 473 kt 286 kE 14M 545 kt BA 24 att eb oy, 06 Mt 4
Slide 7: Aluminium supply and demand sides changing
RIO TINTO ALUMINIUM. Aluminium supply side is changing + High cost smelters are closing in Europe and North America + China focus on domestic demand + Global demand growth underpins new capacity + Overall LME price strength underpinned by fundamentals 1986 2005 (16 million tonnes) (31 million tonnes
Slide 8: Aluminium price chart
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Slide 9: China continues to be important; business improvement
RIO TINTO ALUMINEUM Source: CRU / Brook Hunt China continues to be important Chinese alumin: ports k tonnes k tonnes 2000 2061 2002 2003 2004 2005 2006F 2000 2001 2002 2003 2004 2005 2006F + New capacity in China coming on line + Significant increase in aluminium consumption + China dominates demand
Slide 10: Current business challenges
RIO TINTO ALUMINEUM Current business challenges « Continue to improve health, safety, environment and communities « Maintain production efficiencies ‘ Manage cost pressures « Disciplined growth
Slide 11: Mining and refining presentation outline
RIO TINTO MLUMENEUM Rio Tinto Aluminium Hubie van Dalsen Managing Director Mining & Refining Financial cornmunity site visit ~ June 2006 RIO TINTO ALUMINIUM Mining and refining presentation outline + Overview + Safety + Operational review + Business improvement + Business challenges + Growth options
Slide 12: Mining & Refining operations; safety focus
RIO TINTO ALUMINIUM Mining & Refining (M&R) operations Product | 2008 9r0dn | Ownership structure Sauxite | 18Smt "400% Fein Tinke Surnina 0.8 mi "400% Fein Tinke “Bees Rie Tine Bumina | 40 ee "44.4% Alean Ousensiand * 20% Rusat Euramumina outnina lam 8.2% Rio Tinto RIO TINTO ALUMINIUM Safety focus
Slide 13: Foundations for growth; Weipa meeting growth needs
RIO TINTO MUMINEUM Foundations for growth * Sound asset base ~ Weipa bauxite resource, 100 per cent owned ~ Alumina interests performing well * Expansion work —Weipa ~CAR * Ability to seize alumina opportunities fast ~— Financial strength ~ Technical expertise ~Importantly, we have easily accessible
Slide 14: Bauxite production increasing; Weipa costs
RIO TINTO ALUMINIUM Bauxite production increasing Weipa production (kt) Weipa 20,000 9 + Reserves 1,211 mt + Resources 2,114 mt 16,006 + + Capacity 16.5 mtpa 1996 1997 1998 1999 2000 2003 2002 2003 2004 2006 RIO TINTO ALUMINEUM Weipa costs Unit Cash Cost Drivers Indexed Unit Cost St 1996 1997 4998 1
Slide 15: Gove/Queensland Alumina Refinery CAR ramp up
RIO TINTO MUMINEUM Comaice Alumina Refinery « Continues ramp up to nameplate capacity « Commissioning issues largely overcome ¢ Currently operating at around 90% of nameplate capacity ¢ On target to nameplate capacity within 2 years of startup RIO TINTO ALUMINSUM CAR production increasing 360 300 26
Slide 16: CAR operating cost breakdown; non-managed alumina operations
RIO TINTO MUMINEUM CAR operating cost breakdown 2005 Actual @ Maintenance 11% 16% @ Employees O Operating Supplies O Fuel - Oi! & Gas 31% m@ External Services @ Other @ Depreciation & Amortisation 17% 6% RIO TINTO ALUMINEUM Non-managed alumina operations « QAL ~— Record production in 2005 ~ Good saf
Slide 17: Business improvement and alumina production growth
RIO TINTO ALUMINIUM Business improvement and development « Improving Performance Together ~ Strategic Production Planning (Weipa pilot) ~ Marketing « Lean Six Sigma « Logistics — recent purchase of ships RIO TINTO ALUMENEUM Alumina production growth RTAshare of alumina production 36 1996 1997 1998 1
Slide 18: Alumina major producers; investments and opportunities
RIO TINTO ALUMINIUM Alumina - major producers 16 p------------------------------------------------- 12 +49 : | 2004 Mipa 4 2005 a+ - 4 AWAC © Chaco Alcan BHP Rio Tinfo Glenere — Rusal Kaiser Suat cve. Biliton Aluminium Bauxilun * Rio Tinto Aluminium becoming a more prominent player in world alumina
Slide 19: Alumina growth opportunities; summary
RIO TINTO ALUMINIUM. Alumina growth opportunities would place us number three today... mt 8.0 TO foseeseseeeeseeeeeessecececeneeessaeaeseeeetessecesecenensanananenen CAR3, QAL Expansion 6.0 §.0 4.0 3.0 Current assets: ra CAR, QAL and EA 1.0 0.0 RTA share of alumina production RIO TINTO ALUMINIUAL Su
Slide 20: Smelting presentation outline
RIO TINTO MLUMENEUM Rio Tinto Aluminium Sandeep Biswas Managing Director Smelting (Australia) Financial cornmunity site visit ~ June 2006 RIO TINTO ALUMINEUM Smelting presentation outline + Overview + Safety + Operational Review + Business improvement/technology + Growth options
Slide 21: Aluminium operations; smelting safety
RIO TINTO ALUMINGUM Aluminium operations Anglesey Record aluminium production from Bell Bay, Boyne arid NZAS in 2005 Best in class smeiting performarice Smelting “creep” expansion Business improvement 2008 Ownership structure Angesey RIO TINTO ALUMINEUM Smelting safety (LTIFR 1999 — 2006) Lost Time
Slide 22: Boyne Smelters Limited and Bell Bay
RIO TINTO MUMINEUM Boyne Smelters Limited Achievements + Stable operation across all reduction lines + Record production levels . Successful trialling of B32 reduction cells coritinues . Line 1 and 2 anode assembly (S230) project successfully implemented . Lean gaining momentum RIO TINTO ALUMINEUM B
Slide 23: NZAS and Anglesey
RIO TINTO MLUMENEUM NZAS Achievements + YTD safety on target + Record production levels + Negotiated Greenhouse Agreement + Biggest production of high purity aluminium in the word and expanding RIO TINTO ALUMINSUM Anglesey Achievements + YTD safety on target + Record production levels + Record value
Slide 24: Smelter production costs; cost curve position
RIO TINTO ALUMINIUM Breakdown of smelter production costs 2065 hot metal cash costs Mainterance ‘Other 4% External Services Raw Materials 13% RIO TINTO ALUMINIUM Cost curve position RTA smelters CRU 2005 Nominal Business Operating Cost Curve - RTA Operations wea , , , er | 4 BSL 2 # BSL 1&2 aA NZAS
Slide 25: Metal production improvement; value added product
RIO TINTO ALUMINIUM. Metal production improvement Metal production improvement (indexed) 1997 1992 2000 2001 2002 2008 2008 2008 Simm BSL SS vejonrs RIO TINTO ALUMINEUM Growth in Value Added Product Smelter Sales - Growth of Value Added 900,000 +3 800,000 700,000 +f MT 600,000 500,000 400,000 2002 2
Slide 26: Business improvement / technology; smelting opportunities
RIO TINTO MLUMINEUM. Business improvement / technology « Lean Six Sigma «IPT ~ Marketing ~ Asset management « Drained Cathode Cell « Energy efficiency RIO TINTO ALUMINEUM RTA’s smelting opportunities « Greenfield smelter projects — key criteria: — Proven technology - Capital project management - Ope
Slide 27: Aluminium growth opportunities; summary
RIO TINTO ALUMINIUM mt 2.5 Expansions 2.0 4.5 foccerenene 4.0 +. Current assets: (theme Bell Bay, BSL, NZAS and Anglesey RTA share of aluminium production 0.0 Time RIO TINTO ALUMINUM Summary * Continuing focus on safety * Strong operational performance in 2005 continuing * Business improvement proje
Slide 28: Rio Tinto Coal Australia
Rio Tinto Coal Australia Grant Thorne Managing Director Financial community site visit ~ June 2006 RTCA presentation outline Safety RTCA overview Thermal and coking coal markets Operations Rail and port logistics Questions & answers
Slide 29: RTCA safety performance and overview
RTCA safety performance 2.00 5 Lost Time Injury Frequency Rate 160 4 8 < £ 1204 ry 5 2 3 6.80 4 12 month rolling average g oS 2 9404 5 6.00 4 re, ‘03 ‘O04 (05 ‘Obi MS J A S O N D J FM A Rio Tinto Coal Australia (RTCA) * In December 2003 Pacific Coal was renamed “Rio Tinto Coal Australia’, providing
Slide 30: RTCA is a significant contributor to Rio Tinto
RIO TINTO Rio Tinto Energy America RTCA is a significant contributor to Rio Tinto RTCA earnings history Earnings - by commodity (2005) US$ 600 Copper, goid, mofy 500 Alunvinium 400 ™% 300 Other 1%6 200 Diamonds 5% 406 Industriat Minerals i Iron ore 4% US Coal 32% eB 8900 010203 408 2% BRTCA HC8A RIC
Slide 31: Rio Tinto's Australian coal assets; environment and community
Rio Tinto’s Australian coal assets SE noon Mines sevice Environment and community + All sites have |S0140001 accredited environmental management systems « Continued management of water and land, and focus on achieving energy use targets + Ongoing engagement with near neighbours + Implementation of A
Slide 32: Thermal coal market
Thermal coal market RTCA has a strong market position + One of the largest exporters of thermal coal from Australia + Producer of high quality bituminous thermal coal (high energy and low sulphur content) + Market regions include north Asia, south east Asia, central America and Europe + Domestic coa
Slide 33: RTCA market share in Australia; thermal coal exports
35% 30% 25% 20% 15% 10% 5% 0% RTCA market share in Australia Australian thermal coal exports - 2005 Xstrata RTCA BHPB Anglo idemitsu Excel Coal In 2005 thermal coal market was characterised by demand growth in most regions and China’s redirection of export tonnes to domestic use Tonnes {Milllones 20
Slide 34: Thermal coal exports; China's coal production
Thermal coal exports Milion tonnes + Indonesia has taken over 140 from Australia as the biggest 120 supplier of thermal coal to the 100 export market 80 60 40 « Australia and Indonesia face infrastructure challenges in the short term 4995 2008 * China exports currently being BAustralia BSouth Africa
Slide 35: Japan is a key market for RTCA's thermal coal
Japan is a key market for RTCA’s thermal coal RTCA’s 2005 thermal coai exports @ Japan 68% B Other Asia 24% Gi Europe 5% B Other 3% Total 2005 therma! coal exports = 32.06mt New South Wales thermal coal prices — FOB Newcastle $65.00 $60.00 $55.00 $50.00 $45.00 $40.00 4 $35.00 $30.00 $25.00 $20.00 ,
Slide 36: RTCA's pricing basis; outlook for thermal coal
Rio Tinto Coai Australia’s pricing basis + Long term supply contracts are core to RTCA’s business + Spot sales will be decided based on market opportunities + RTCA accepts a mix of term and market price exposure across its sale portfolio + Rio Tinto is a co-founder and shareholder of globalCOAL whic
Slide 37: Coking coal market
Coking coal market A small but growing coking coal business 7 Metallurgical coal production 2005 Million tonnes 50 7- 30 5 20 5 10 5 BHP- Elk Anglo Xstrata Rio Tinto Billiton Valley 10
Slide 38: Coking coal sales by market; Hail Creek
Coking coal sales by market RTCA's 2005 coking coal sales* Korea 15% Japan 47% india 8%. Europe 12% * Includes semi soft and hard coking coal Other 6% Hail Creek — quality assets bring opportunities to expand Managed hard coking coal production {100% basis) tonnes : i. to Oo 1998 2000 2001 2002 2903
Slide 39: Outlook for coking coal
Outlook for coking coal + Demand for hard coking coal will remain strong, driven by consistent strong demand for steel and steel products + Demand for high quality low volatile hard coking coals, such as Hail Creek, will remain strong ~ Premium coking coals produce high quality, high strength cokes.
Slide 40: Operations: Hail Creek
Operations Hail Creek + 5.9mt of hard coking coal produced in 2005, up 0.8mt (16%) on 2004 production « Majority of sales destined for Japan « Weak sales in Q1 2006, but operations are performing well + Operation underpinned by substantial reserves (184mt) and resources (224mt) « Purchase of Mount R
Slide 41: Hail Creek expansion; Blair Athol
* Production capacity will increase from 6mtpa to 8mtpa by August 2006 * Capital investment of US$223m + Revised scope will deliver a processing plant capable of 12mtpa + Well positioned for expansion beyond 8mtpa, in line with market demand and access to infrastructure + Next capital would be in mo
Slide 42: Clermont and Kestrel
+ JV participants: Rio Tinto 50.1%, Mitsubishi 34.9%, J-Power 15% + Clermont's entry into the thermal coal market to coincide with operations at } Proposed } ff Conveyor Blair Athol winding down in 2010 — wmnorh Proposed | Blair Athol °. Highway + Final feasibility studies will determine Mining Dive
Slide 43: Kestrel; Tarong
Kestrel “Sg f TSF “} 400 Series f 200 Series « Domestic thermal coal producer (6.5mt in 2005) + Sole supplier to Tarong Energy Corporation (TEC), neighbouring power station + Agreement reached with TEC to provide the option to purchase the assets of Tarong mine and the Kunicon deposit on or before 3
Slide 44: Bengalla; Hunter Valley Operations
Bengalla + 40% Rio Tinto ownership, with marketing of Bengalla product managed independently * Variable mine production from quarter to quarter due to short dragline paths * Seeking development approval to increase ROM capacity from 8.7mtpa to 10.7mtpa RIO TINTO @ Hunter Valley Operations . Thermal
Slide 45: Mount Thorley Warkworth; Mount Pleasant
+ Successful integration of Mount Thorley and Warkworth operations + Thermal and semi soft coking coal producer + Significant reserves and resources + Workplace agreements expire end of 2006 Mount Pleasant * The development consent ratified and community consultation is ongoing * Studies necessary t
Slide 46: Long life assets provide valuable optionality
tals Ato! Tsrony 2002 2003 2006 aoe wr we 2008 204 2D Hunter Valley Operations Koare! 4 4 3 3 2 2 = = = - - a = TINTO Long life assets provide valuable optionality Life of mine* Blair AthovClermont i Bengatls Hail Creek Kestret Tarang/Kunioon Hunter Vatiey Ops Mt ThorleyWarkworth 0 20 40 60 80 Years
Slide 47: Business improvement initiatives remain core to the business
Business improvement initiatives remain core to the business * RTCA Business Improvement programme underway — Well resourced by internal support teams — Employee involvement ~ Delivering improvements to the business * RTCA participating in Rio Tinto's Improving Performance Together programme — Focus
Slide 48: Queensland infrastructure
Queensland infrastructure Dairympie Bay Coal Terminal + Queue management system introduced in April 2005 + Expansion of DBCT underway from current 55mt capacity - A$1.1 billion ~ Phase 1 to 68mt ~ Phase 2 to 80mt ~ Phase 3 to 85mt + Additional port capacity expected from late 2007 Port of Gladstone
Slide 49: RTCA summary
RTCA summary + The quest for safety excellence remains a key priority + Long life reserves and resources, with options for growth « Operations - Continued emphasis on business improvement initiatives - Involvement in Rio Tinto’s global IPT initiative + Continued focus on cost management - Tyres, fue