ASX Market Announcements Australian Securities Exchange SYDNEY NSW 2000 13 September 2012 Dear Sir, Attached Is a Presentati

Home , Argyle diamond mine

120 Collins Street Melbourne 3000 Australia Postal Address: GPO Box 384D Melbourne 3001 Australia T +61 (0) 3 9283 3333 F +61 (0) 3 9283 3707

ASX Market Announcements Australian Securities Exchange SYDNEY NSW 2000

13 September 2012

Dear Sir,

Attached is a presentation given by Alan Davies, Chief executive, Rio Tinto Diamonds & Minerals, Bruce Cox, Managing director, Rio Tinto Diamonds, Jean-Francois Turgeon, Managing director, Rio Tinto Iron & Titanium and Xiaoling Liu, President and Chief executive, Rio Tinto Minerals, as part of a financial community visit in Montreal, Canada.

Yours faithfully,

Stephen Consedine Company Secretary

Registered in Australia Rio Tinto Limited 120 Collins Street Melbourne 3000 Australia ABN 96 004 458 404 Rio Tinto Diamonds & Minerals Fuelling consumer-driven economic growth

Alan Davies Chief executive 12 September 2012 Cautionary statement

This presentation has been prepared by Rio Tinto plc and Rio Tinto Limited (“Rio Tinto”) and consisting of the slides for a presentation concerning Rio Tinto. By reviewing/attending this presentation you agree to be bound by the following conditions.

Forward-looking statements This presentation includes forward-looking statements. All statements other than statements of historical facts included in this presentation, including, without limitation, those regarding Rio Tinto’s financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to Rio Tinto’s products, production forecasts and reserve and resource positions), are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Rio Tinto, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward- looking statements.

Such forward-looking statements are based on numerous assumptions regarding Rio Tinto’s present and future business strategies and the environment in which Rio Tinto will operate in the future. Among the important factors that could cause Rio Tinto’s actual results, performance or achievements to differ materially from those in the forward-looking statements include, among others, levels of actual production during any period, levels of demand and market prices, the ability to produce and transport products profitably, the impact of foreign currency exchange rates on market prices and operating costs, operational problems, political uncertainty and economic conditions in relevant areas of the world, the actions of competitors, activities by governmental authorities such as changes in taxation or regulation and such other risk factors identified in Rio Tinto's most recent Annual Report on Form 20-F filed with the United States Securities and Exchange Commission (the "SEC") or Form 6-Ks furnished to the SEC. Forward-looking statements should, therefore, be construed in light of such risk factors and undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this presentation.

Nothing in this presentation should be interpreted to mean that future earnings per share of Rio Tinto plc or Rio Tinto Limited will necessarily match or exceed its historical published earnings per share.

• Safety performance • Introduction to our global operations • Macro-economic trends • Financial performance • A well positioned portfolio • Reputation built on sustainable stewardship • Leadership in technology

Boron, California

Diamonds & Minerals1 rolling injury rates, 2002 - 2012 2.2 2.0 1.8 AIFR2 1.6 1.4 1.2 1.0 0.8 LTIFR3 0.6 0.4 0.2 0.0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

1. Data for RTIT, RTM, Diamonds, DSL & Simandou. 2. AIFR (all injury frequency rate) includes Lost Day Injuries, Restricted Work Day Injuries and Medical Treatment Cases per 200,000 hours worked which consists of employees, contractors and covers operations and all projects. 3. LTIFR (lost time injury frequency rate) includes Lost Day Injuries, Restricted Work Day Injuries and Fatal Injuries which consists of employees, contractors and covers operations and all projects.

Source: Rio Tinto

Borates Boron (USA) Jadar (Serbia)

RBM (South Africa) Titanium Mutumba RTFT (Canada) dioxide (Mozambique) QMM (Madagascar)

Dampier (Australia) Salt Port Hedland (Australia) Lake MacLeod (Australia)

Potash JV project (Canada)

Iron ore Simandou (Guinea)

Diavik (Canada) Diamonds Argyle (Australia) Bunder (India) Murowa (Zimbabwe)

Inflection point not yet reached for many of our products Percentage of saturation level*

Titanium dioxide

Nickel Titanium Dioxide

Crude steel Aluminium Copper

Diamonds Borates

2,000 10,000 18,000 26,000 34,000 42,000 50,000 58,000

World GDP/capita Timeframe 20102020 2030 2040 2050 2000 US$ PPP

*Saturation level – point at which consumption per capita does not increase with income levels Source: Rio Tinto

CAGR 2010-25 CAGR 2025-40 Percent Percent Urban 153 7.1 3.7 Rural 132 111 88 8.4 4.3 67 98 48 93 96 19 32 90 80 86 72 75 0.4 -6.1 2005 10 15 20 25 30 35 2040

Real GDP per capita RMB thousands

CAGR 2010-25 CAGR 2025-40 Percent Percent

6.8 3.9

2005 2010 2015 2020 2025 2030 2035 2040

Source: Rio Tinto

CAGR CAGR 2010-25 2025-40 Percent Percent 190 235 291 339 385 426 463 492 3.3 1.7

19.2 9.9

Affluent Middle class Lower income

4.4 -3.3

-4.5 -1.1

2005 10 15 20 25 30 35 2040

1. Brackets are defined by household annual income as high income >171K RMB; middle income 45-171K RMB; lower income <45K RMB Source: McKinsey

Distribution of the world population, 1980 – 2050 Billions

(%) urban as a percentage of total population Source: United Nations

Titanium dioxide Minerals Diamonds Salt

• #1 producer of TiO2 • #2 producer of • #3 rough diamond • #1 exporter of solar feedstocks refined borates producer globally salt • #2 producer of zircon • Tier one mine in • Leader in the • JV between Rio • Mines in South California with production of Tinto (68%), Africa, Canada, expansion coloured diamonds Marubeni (22%), Madagascar with optionality Sojitz (10%) significant expansion • Mines in Australia, potential • Jadar lithium-borate Canada, Zimbabwe • 3 mines in Western project in Serbia Australia • Portfolio optimised • Project in India through proprietary • Potash Exploration production JV in Saskatchewan • Strategic review technology and underway expertise

Diamonds and Minerals1 results US$ millions

600 • Strong earnings growth in titanium dioxide will continue as supply tightens and long term priced contracts unwind 500 • Sustained price growth for borates expected

400 • Doubled stake in RBM to drive further earnings growth

300 • Strong long term fundamentals for diamonds – seeking to extract more value through different ownership structure 200

100

0 H1 2010 H2 2010 H1 2011 H2 2011 H1 2012 EBITDA Earnings

1. Includes RTIT, RTM, RTD, DSL, Talc (until disposal in mid 2011). Source: Rio Tinto

TiO demand development 2 • Future wealth and demographic profiles Million tonnes, pigment (LHS), crude steel (RHS) translate to an unprecedented surge in demand for TiO2 in pigment

• Little investment in new mine and smelting capacity in past two decades

• Continuing to replace long-term price contracts, increasing exposure to current market prices

• Studies to expand mining and refining capacity by up to 50% launched in May Committed supply and demand growth 2012 and aims to capture more than 20% of kmt TiO feedstock 2 demand growth out to 2020 10,000 9,000 Expected TIO4 supply • Strong resource position to capture further contribution 8,000 demand upside 7,000 • Industry leader in reliability, furnace life, 6,000 energy efficiency and scale

5,000 2005 2007 2009 2011 2013 2015 2017 2019 Online supply Committed projects Demand Source: Rio Tinto, World Steel Association

• Rio Tinto doubled holdings in Richards Bay Minerals

• Purchase price paid on completion of $1.7 billion; acquisition price at 1 February 2012 effective date was $1.9 billion and includes:

̶ $0.6b for BHP’s 37% equity interest

̶ $1b for BHPB’s 50% shareholder financing interests

̶ $0.3b for BHPB royalty stream

• Demand for feedstocks is expected to grow Richards Bay Minerals strongly, needing the equivalent of a new Ownership structure operation the size of RBM to be built every two and a half years.

• One of world’s lowest cost producers with resources to support 20 years of production

• In 2011, RBM produced 14% of global TiO2 feedstock sales;18% of global zircon sales

Borate demand drivers CAGR Demand growth driven by energy efficiency, Cumulative kmt boric oxide B2O3 equivalent • food supply, consumer trends 1000 5.9% 800 Tier 1 orebody at Boron, California, with 6.4% • 600 consistent product quality and supply reliability 400 11%

200 • Options for incremental capacity expansion

0 through strategic production planning at low 2007 2009 2011 2013 2015 2017 capital intensity Energy Urbanisation Agriculture Efficiency Production • Jadar lithium borate project can deliver two

B203 kmt high value product streams from one mine

Source: Rio Tinto

Population growth • Strong population growth, a majority of the Billions world moving to higher calorie and meat 10 9 consumption, and potassium depleted soils 8 will underpin strong demand for potash in 7 the future 6 0.8% pa 5 • Project located in the world’s premium 4 3 potash basin in Saskatchewan, Canada 2 1 • 75 per cent of resources and reserves 0 concentrated in Canada and CIS 1980 1990 2000 2010 2020 2030 2040 2050 • Exploration JV Agreement signed with JSC Calorie intake per person per day Acron in 2011 Kcal, 2010 4000 Meat calories • Exploration programme is targeting a tier Plant calories one resource suitable for solution mining 3000 • Initial results are promising 2000 • Major infrastructure is available in the 1000 vicinity of the project

US China Africa & Other Asia India ME Source: UN, FAO, US Census Bureau, USDA

Asian salt demand • Three operations in Western Australia with a Million tonnes CAGR 16% combined capacity of 10.3Mt 10% 8% • Demand growth driven by Chinese imports 0% 0% to fuel automotive, construction and 0% electronic sectors 3% • China increasingly reliant on seaborne supply as domestic solar salt production capacity shrinks due to competing land use

• Potential for incremental expansion in Chinese salt imports Million tonnes response to demand growth in China 5.5 • Lower energy costs compared with China CAGR 160% 4.1 domestic well salt competitors

2.7 1.6

2009 2010 2011 2012F

1. Rio Tinto 68%, Marubeni 22%, Sojitz 10% Source: Rio Tinto

• Significant presence in the global diamonds industry

• Long term demand driven by growth in emerging markets with little new supply coming on line

• Rio Tinto undertaking a strategic review of the business to to create greater shareholder value through a different ownership structure. All options are under consideration

• Continuing to invest in growth options

Diavik, Canada

• Projects are located in geographically diverse locations

• Our responsible approach provides access to resources, people and capital

• Examples of industry leading sustainable stewardship in Madagascar, South Africa, Guinea and India

• Will be a foundation of our competitive advantage and replicated across the globe

Rehabilitation project at Richards Bay Minerals, South Africa

Mine Refine Market

• Safer operations • Smelting technology to • On-line auctions for price • Optimisation of mining access high value markets discovery productivity • Development of new • Dedicated R&D to improve • Automated haulage complementary products products, processes and create demand • Development of new mining • Anhydrous products techniques • Technical support for customers • Extraction technology

• Entering a new phase of demand growth for commodities

• Global shift in wealth and demographic profiles driving demand for our products

• Assets provide exposure to different economic drivers and later-cycle inflection points

• Maximising shareholder value through a diverse portfolio of world class, long life, expandable assets operating as sector leaders

• Strong sustainable stewardship, market capability and innovation

Jean-Francois Turgeon Managing Director, RTIT 12 September 2012 Overview • Asset base

• Operations

• Applications

• RTFT mining and refining

• RBM mining and refining

• Value of co-products

• Demand drivers

• Industry fundamentals

• Price progression

• Value proposition

Operation

Offices Technology Centre

Exploration Rio Tinto Fer et Titane (100% Rio Tinto) • World’s largest hard rock ilmenite mine • LOM = +35 years • Refining and technology centres

London Havre St Pierre Global headquarters Chicago Frankfurt Sales & Marketing Sales & Marketing Sorel-Tracy Tokyo Richards Bay Minerals (74% Rio Tinto) Sales & Marketing • Mineral sands mining & refining operation Souzhou Global TiO share of sales (2011) 2 • LOM = 20 years Metal Powders Plant • Refining and technology centres

Singapore Sales & Marketing Mozambique Exploration

QIT Madagascar Minerals (80% Rio Tinto) • Mineral sand mining operation • LOM = +20 years

RBM QMM RTFT Growth

• Increasing stake to • 39% increase in • Record production • Progressing order of 74% production from H1 in 2011 magnitude studies at • One of world’s lowest 2011 to H1 2012 greenfield site in • C$800m planned Mozambique cost producers • Dry mining plant investment over 5 • New tailings and dredge years to extend • Progressing treatment plant adds improvements mine life and prefeasibility studies 5 years to mine life; improve efficiency for new mining and • Advancing smelting capacity increases zircon expansion options • Low cost energy capacity to 300 ktpa that holds potential to supply increase capacity by up to 50% • Evaluating options to • Metallurgical develop Zulti South complex is only one of its kind worldwide

Ilmenite mining

(33 – 60% TiO2 feedstocks)

Upgrading

(80 - 95% TiO2 feedstocks)

Fluxes and welding rods TiO2 pigments Titanium metals (5% of production) (90% of production) (5% of production)

• Industrial uses • Paints and coatings (58%) • Industrial (51%) • Plastics (22%) • Aerospace (29%) • Paper (9%) • Military (11%) • Other, eg inks, fabrics, cosmetics (11%) • Automotive/medical/sporting goods (9%)

Sorelflux® = crushed and screened lump ilmenite ore used by steelmakers to combat blast furnace hearth QMM Ilmenite RTFT Ilmenite erosion (mineral sands) (hard rock)

Sorelslag® Sorelmetal®: high- (80% TiO2) sulphate purity iron-carbon pigment process alloy used to Smelter Liquid iron produce castings 9 furnaces RTCS slag with high impact (90% TiO2) chloride resistance pigment process TiO2 (capacity = 300 ktpa) feedstocks (capacity = ~1.2 mtpa) UGS plant Steel plant Metal powder plant

UGS™ (95% TiO2) Sorelsteel™ billets for high Iron powders (capacity = 40 ktpa) and chlorideUGS plant pigment quality wire and seamless steel powders (capacity = 110 ktpa) process and titanium tubes (capacity = 500 ktpa) used by the automotive industry metal

Dredge and Floating Concentrator Plant

Heavy mineral concentrate

Mineral separation plant Rutile and zircon Ilmenite

Smelter Dryer Liquid iron 4 furnaces

Electrostatic separation Titanium dioxide slag Pig iron used to (85% TiO2) produce castings chloride pigment with high impact process resistance (capacity = ~1 mtpa) (capacity = 500 ktpa) Rutile used primarily in Zircon used in ceramics pigment manufacture and refractories (capacity = 100 ktpa) (capacity = 300 ktpa)

RTIT revenue by product line (US$b) • Leveraging technology to create valuable 2.5 products instead of waste

• Provides greater flexibility to respond to changing market environment

2 • Co-products account for nearly 50% of revenues for the last five years

• Steady increase in value projected 1.5

0.5

0 2007 2008 2009 2010 2011

Co-product revenue TiO2 revenue

Source: Rio Tinto

• Chinese population peaking at 1.4 billion in 2025, with urban population increasing to >75% by 2040

• Urbanisation will sustain a continued build out of floor space

• Chinese middle class growing to 70% by 2020

• Demand growth in furniture and other consumer durables

• Strong consumption growth trends evident in other emerging economies

• US housing recovery presents upside

Source: Rio Tinto, TZ Minerals International

Titanium dioxide supply & demand (kmt TiO2) 10,000 9,500 Inflection point – 9,000 limited new supply to meet demand growth 8,500 8,000 7,500 7,000 6,500 6,000 5,500 5,000 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Source: Rio Tinto Online supply Committed projects Demand Supply Outlook Demand Outlook

• Limited industry supply-side response; heavy • China will continue to drive growth, along reliance on inexperienced producers with other emerging economies

• Growth in opportunistic low-value production • Demand growth in line with GDP for OECD (Vietnam) economies

• Renewed promotion of pre-existing projects • Global demand is forecast to grow by 50% with well-known technical, environmental, by 2020 operational and regulatory challenges

TiO2 feedstock demand growth 2000 - 2020 • RTIT is global leader in high grade feedstock supply with 50% share of sales

• Demand growth for higher grades driven by rising environmental and productivity standards

• Higher grade feedstocks convey a number of advantages to pigment producers:

̶ Lowers volume and cost of waste disposal

̶ Raises production volumes with more efficient capital expenditure

̶ Lowers logistics costs and supports more operational flexibility

CAGR = 3.3% CAGR = 4.1%

Global TiO2 demand = 4.7mt (2000); 6.5mt (2010); 9.7mt (2020)

Source: Rio Tinto

UGS® 95% TiO 2 RTCS™

2010 90% TiO2 RBM chloride slag

85% TiO2 Sorelslag®

Sorelslag® 80% TiO2 78% TiO Sorelslag® 2 Sorelslag® 72% TiO2

70% TiO2

1950 1960 1970 1980 1990 2000 2010 2020

Price progression estimates from TZMI and brokers • Previous multi-year pricing mechanisms have US$ nominal guaranteed volumes, but limited exposure to market pricing

• These are being replaced with new long-term contracts with shorter-term pricing (quarterly or per shipment)

• Some customers prefer to secure longer term volumes by reopening existing contracts early

• Price negotiations held to date have reflected tight market conditions

• Short term pricing exposure limits downside risk of under-selling Source: TZMI and broker reports TiO contract volumes 2011 – 2015 • Price discovery mechanisms include auctions 2 (zircon) and negotiations (TiO2) 2500

2000

1500

1000

500

0 2011 2012 2013 2014 2015

Longer-term pricing Shorter-term pricing Source: Rio Tinto

• Strong asset base and reserves position • Demand projected to outstrip supply in medium to long term, driven by global urbanisation

• World leader in supply of high grade products – fastest growing sector

• Advancing expansion options • Positioned to maintain competitive advantage through proprietary technology and products

• Significant value associated with co-products • Pricing outlook remains strong in medium and long term

Bruce Cox Managing Director 12 September 2012 36 Strategic review

• Strong industry fundamentals – a matter of scale for Rio Tinto

• All options being reviewed, including divestment

• No time pressure for transaction

• Argyle underground block cave development continues together with progress of growth options including the A21 pipe at Diavik, the Bunder project and potential Murowa expansion

DiavikDiavik Diamond Diamond Mine Mine (60%)

Diavik

Antwerp London Argyle Diamond Mine (100%)

New York

Hong Kong Murowa Diamond Mine (77.8%) Bunder

Mumbai

Murowa Diamond operations Argyle

Bunder Diamond Project (100%) Perth Sales and marketing office

RTD headquarters

Source: Rio Tinto 38 Rio Tinto has a significant presence in the global diamonds industry

• Production of 11.7 million carats and revenue of US$726 million in 2011 • Third largest rough diamond producer globally by volume, behind Alrosa and De Beers • Supplies all major markets with a leadership position in emerging markets • Expected significant growth in production over the next five years • The world’s largest producer of coloured diamonds • Supplier of more than 90% of the world’s rare pink diamonds

Global diamond production by volume Global diamond production by volume 2011 2017 (estimated) Others 9%

28% Others DRC 16% Alrosa

Angola 7%

3% 2%

2% 24% 10%

Source: Rio Tinto Estimates 39 Strong industry fundamentals drive price

• Supply is forecast to be flat over the next decade: o Lack of significant discoveries in the last decade o Long lead times for bringing discoveries to commercial production o Rio Tinto well positioned to provide significant increase in supply during this period

• Strong demand growth driven by emerging markets o Diamonds are a late cycle luxury product o India and China expected to grow to around 40% of the diamond jewellery market by value by 2020 o Rio Tinto leading market development initiatives in India and China

• Prices are forecast to grow over the next decade 40 Diamonds100 are a late cycle luxury product 90 Intensity curve 80 70 60 Aluminium 50 Crude steel Titanium Dioxide Percentage of saturation level (1) 40

30 Borates Diamonds 20 10 0 2,000 10,000 18,000 26,000 34,000 42,000 50,000 58,000 World GDP/capita Timeframe 20102020 2035 2045 2050 2000 US$ PPP

Source: Rio Tinto Analysis (1) Saturation level –point at which consumption per capita does not increase with income levels 41 Strong demand growth driven by China and India

200 USA

175 China • US expected to remain a key

India market for diamond jewellery 150 Japan

125 Europe • China expected to surpass the size Gulf of the US market by 2025 100 Other

75 • Other markets expected to move in line with GDP growth 50

25 Diamond Jewellery consumption forecast (US$b Diamond Jewellery consumption 2007R)

0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Source: Rio Tinto 42 Supply is forecast to be flat / declining over the next decade

Open cut operation 180 • Existing mines becoming older and Underground operation deeper 160 Marine/Alluvial/Artisinal • Greater share of production 140 transitioning from open pit to underground mining, with lower 120 productivity and higher operating costs

100 • No new Tier 1 discoveries over past 17 years

80 • Long lead time (7-14 yrs) to develop new mines: 60 – Time to commercially assess a kimberlite Production / Supply (mcts) 40 orebody

20 – Time consuming approval process

0 – Challenging geographies 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Source: Rio Tinto 43 Significant and growing supply deficit drives stronger prices

Demand supply imbalance is expected to widen

30 CAGR (2010-20) 6.1%

15 US$b CAGR (2010-20) 10 0.8%

0 2010 2012 2014 2016 2018 2020

Rough Demand value (US$b) Rough Supply value (US$b)

Source: Rio Tinto Diamonds 44 Rio Tinto produces a full range of rough diamonds in terms of sizes, colours and qualities

Diavik rough Murowa rough Argyle rough Bunder rough

• Large • Large • Small • Large • White • Predominantly white • Coloured • White and brown • Gem quality • Gem quality • Diverse quality • Gem quality • Bridal category • Bridal category • Gem quality pinks • Bridal and fashion • Fashion diamond segments jewellery 45 Rio Tinto also produces more than 90% of the world’s supply of rare pink diamonds

• Niche polished pink diamond business • Consumer fronting luxury brand • Distribution via trademark licensing agreements • Iconic annual Pink Diamonds Tender 46 Operations overview

Argyle Diavik Murowa Bunder

•Almost 800 million carats • Commenced • Commenced • Discovered in 2004 produced in 26 years production in 2003 production in 2004 • Resource 37 mts, 27.4 mcts • In transition to • Plans for expansion of •Iconic and differentiated • State Support Agreement in product underground mining processing plant are place being reviewed •Transitioning to • Underground • Letter of Intent to grant underground to extend mine operations are • Expansion will be mining lease in place life to at least 2020 expected to extend subject to suitable mine life until 2023 agreements with • Cutting and polishing tests underway •Extension of mine life to Zimbabwe • A21 project in Government 2027 being considered • In pre-feasibility, with Feasibility production scheduled as •Average annual production • Life of mine – 2022, soon as 2017 if development 2014-2020 20 mcts • Annual production depending on approved 6-7 mcts (100%) expansion • Expected annual production • Current production of 2.5 mcts 0.3 mcts (100%) per annum 47 The Argyle underground mine is scheduled to reach full production in 2014

• US$2.2 billion committed investment

• Extension of mine life to at least 2020

• Average 20m carats per year over the life of the block cave

• No change to diamonds at depth

• Possible mine life extension being considered to 2027 via sub level cave extension and additional open pit cut back 48 Underground mining at Diavik secures production for the next decade

• Underground mining commenced in 2010

• Mine life to 2023

• Sub-level retreat and blast hole stoping methods are used

• Plant to produce 6-7 million carats of rough diamonds per annum

• Development of A21 pipe would optimise process plant capacity 49 The Bunder project is a valuable addition to future supply Investment US$

Investment to date US$74 Million

Estimated development cost US$500 Million

Job creation No. of jobs

Current workforce ~400 people (70% local)

Expected construction 800-1200 workforce

Expected mining & Direct: 400; Indirect: operations workforce 800-1000 Diamond manufacturing 6000-8000 industry Timeline

Evaluation and design 2010 – 2014

Construction 2015 – 2016

Around 2017 at 2-3 Operations million carats pa 50 Rio Tinto has an unrivalled record of success in diamond exploration

• Past success in the discovery of Argyle, Diavik, Murowa and Bunder

• Current focus is on highly prospective targets in three countries

- Canada - India - DRC

• Programmes supported by proprietary sample processing and analysis capability

- Bulk sample treatment plants in Canada and India - Processing laboratories in Canada, Australia and India 51 RTD Sales and marketing extracts a premium through our partnership model, differentiated products and robust price discovery

• 80% relationship sales via long term contracts

• Balance of production sold through invitation sales, spot sales and tenders – price discovery mechanisms

• Productions separated by mine and country of origin, supported by strong chain of custody assurance

• Targeted market development initiatives to maximise value − Champagne & Cognac branding − Argyle Pink − Mine of Origin − Silver Mist − Nazraana − Australian Colours – CTF − Oprah Winfrey ‘O’ Pendant 52 Well positioned for profitable growth

• Robust industry fundamentals to drive strong price growth

• High quality asset portfolio well positioned to capture price growth

• Argyle and Diavik underground mining secures production for the next decade

• Bunder project is an important source of future supply

• Diversified product offering with established sales and marketing capability Rio Tinto Minerals Investor update

Xiaoling Liu President & CEO 12 September 2012 Overview

• Asset base

• Applications

• Borate mining and refining

• Borate demand drivers

• Industry fundamentals

• Value proposition

Boron Operations, California

Potash(40% Rio Tinto) Jadar (100% Rio Tinto) • Potash exploration JV in Saskatchewan • Lithium-borate development project in Serbia • Tier One resource suitable for solution mining • Potential to supply 20% of world’s lithium carbonate

Coudekerque, refining Souzhou Rotterdam, shipping Technology Center Frankfurt, Sales Denver, HQ London, Sales & Mkrg Nules, Shipping

Boron Operations (100% Rio Tinto) • One of two world class borate mines on planet Singapore • Primary refining operation Global borate share of sales Sales & Marketing • LOM = +40 years Wilmington Operations • Primary NA shipping facility and specialty refinery

Operation

Offices and labs

Exploration

Borates Lithium carbonate Potash Technology

• Target markets by • Jadar deposit • Exploration JV in • Asia Technology profitability and discovered in Saskatchewan Center in China to sustainable growth Serbia in 2004 support growth in • Targeting a Tier One opportunities • Only source of most prospective resource suitable for markets • Position to serve Jadarite lithium- solution mining emerging markets borate ore worldwide • Initial results are • Expansion options promising to meet increasing • Potential to supply demand more than 20% of • Leveraging expertise global lithium in solution mining, market agriculture markets

• Fertilizers that increase crop quality and yield • Products linked to rising standards of living (borates): − Fiberglass, wood preservatives and ceramics that make homes safer and more energy efficient − Heat-resistant glass used in flat-screen TVs, laptop computers and solar energy systems − Textile fiberglass used in electronics and wind energy systems − Nuclear power plant containment systems • Lithium carbonate batteries for cell phones, computers and hybrid or electric cars

2011 borate demand by end use

• Annual production of ~1 mt refined borates

• Life of mine is +40 years

• Strong track record for safety and continuous cost improvement

• Two main ores refined into two main product lines (boric acid, sodium borate)

• 34 products in total; specialty products involve granulation, fusing, spray-drying

• Ongoing investment in technology to improve operations

• Potential for incremental capacity expansion at low capital intensity

• Consistent product quality, supply reliability are key differentiating factors

Boron Operations, California

• Sodium borates = borax pentahydrate (5 mol), borax decahydrate (10 mol), anhydrous borax

̶ Feedstock for fiberglass, agriculture products

• Non-sodium borates = boric acid, anhydrous boric acid

̶ Feedstock for specialty/cover glass; ceramics

Energy efficiency Urbanisation Global Food Supply

Efficiency Emerging cities Agriculture • Insulation standards • Insulation • Improve crop yields and quality • Government incentives • Ceramics • Expansion into new • Building practices • Wood preservatives regions (palm oil in Production Consumer demand Africa) • Wind energy • LCD TVs and • Recognition of B- • Biofuels electronics deficiency • Solar energy • Next generation cover Government incentives glass • Hydrogen energy Complementary product storage US housing recovery offerings presents upside

Borate demand – minerals vs refined products • Demand growth for refined products (kmt B2O3 equivalent) versus minerals driven by rising 2,500 environmental and productivity standards

• Refined borates offer superior handling 2,000 and performance; lower impurity levels

̶ Lower emissions critical to meet increasingly stringent regulations 1,500 ̶ Product quality and consistency – critical for vitreous applications

1,000 ̶ Lower impurity levels – critical for agriculture applications

̶ Lower logistics costs 500

0 2005 2007 2009 2011 2013 2015 2017

Refined borate products Borate minerals

Source: Rio Tinto Minerals

Supply-Demand 5-mol products (kmt B2O3) Supply-Demand Boric Acid products (kmt B2O3)

1,300,000 1,100,000

1,200,000 1,000,000

1,100,000 900,000

1,000,000 800,000

900,000 700,000

800,000 600,000

700,000 500,000

600,000 400,000

500,000 300,000

400,000 200,000 2009 2011 2013 2015 2017 2019 2009 2011 2013 2015 2017 2019 5-mol supply 5-mol demand Boric acid supply Boric acid demand Source: Rio Tinto Minerals Source: Rio Tinto Minerals

• Economically viable deposits limited to three major regions in world

• Supply tightening despite competitive expansions

• Demand strengthening in both mature and emerging economies

• Product quality, supply reliability, technical expertise differentiate RTM

• Significant lithium-borate resource located in western Serbia

• If developed, has the potential to supply more than 20% of global lithium demand

• Rio Tinto discovered the deposit in 2004 and a new lithium-borate mineral called Jadarite in 2007

• Potential to generate two high value products – boric acid and battery-grade lithium carbonate – from a single ore body

• Recently approved additional investment to continue prefeasibility studies

Jadarite core samples

• Exploration JV with Russian fertilizer producer Acron in Saskatchewan.

• Saskatchewan is home to about half the world’s potash reserves

• Good fit with borate micronutrient markets

• Builds on Rio Tinto expertise in potash solution mining

Approximate boundaries of• mineralization Currently in exploration phase to define potash resource

• Initial results are encouraging

• Borate demand outpacing supply in medium horizon, despite expansions

• Strong commercial strategy built on major trends

• Continuing cost discipline through mature business improvement program

• Recognized leaders in safety performance and culture

• Leveraging expertise to develop complementary minerals