2010 annual report
this report is available online  
visit wwwriotintocomannualreport2010
for
striving
global
sector
leadership more information
website wwwriotintocom
the “shareholders” section of wwwriotintocom provides financial and corporate information 
about the group as well as rio tinto share price charts and data an events calendar dividend 
information and the latest presentations by management for investors and financial analysts
results presentations
our results presentations are available live on webcast a playback of the most recent presentation 
is downloadable at wwwriotintocom
messaging servicerio tinto news alert
receive news alerts about rio tinto via text or email by subscribing to our messaging service on 
wwwriotintocomnewsalerts
striving for global sector leadership 
the annual report and auditors’ report 
comply with the australian and uk 
reporting requirements
copies of rio tinto’s shareholder 
documents are available on the website 
at wwwriotintocom they can also 
be obtained free of charge from the 
company some shareholders may prefer  
to receive the annual review which contains 
the summary financial statements although 
shareholders should note that it does 
not allow as full an understanding of 
the group 
cautionary statement about forward 
looking statements
this document contains certain forward 
looking statements with respect to the 
financial condition results of operations 
and business of the rio tinto group 
these statements are forward looking 
statements within the meaning of 
section 27a of the securities act of 
1933 and section 21e of the securities 
exchange act of 1934 the words 
“intend” “aim” “project” “anticipate” 
“estimate” “plan” “believes” “expects” 
“may” “should” “will” or similar 
expressions commonly identify  
such forward looking statements
examples of forward looking statements in  
this annual report include those regarding 
estimated ore reserves anticipated 
production or construction dates costs 
outputs and productive lives of assets 
or similar factors forward looking 
statements involve known and unknown 
risks uncertainties assumptions and other 
factors set forth in this document that 
are beyond the group’s control for 
example future ore reserves will be 
based in part on market prices that 
may vary significantly from current 
levels these may materially affect the 
timing and feasibility of particular 
developments other factors include 
the ability to produce and transport 
products profitably demand for our 
products the effect of foreign currency 
exchange rates on market prices and 
operating costs and activities by 
governmental authorities such as 
changes in taxation or regulation  
and political uncertainty
in light of these risks uncertainties 
and assumptions actual results could 
be materially different from projected 
future results expressed or implied 
by these forward looking statements 
which speak only as to the date of this 
report except as required by applicable 
regulations or by law the group does 
not undertake any obligation to publicly 
update or revise any forward looking 
statements whether as a result of new 
information or future events the group 
cannot guarantee that its forward 
looking statements will not differ 
materially from actual results
sustainable development
sustainable development is 
integral to the way we work 
within this report we have 
provided our 2010 sustainable 
development performance 
highlights
   the “our approach” section 
of our website contains 
details of our programmes to 
deliver on our commitment 
to sector leading sustainable 
development and more 
comprehensive data on  
our progress
rio tinto is a leading global business delivering value at each 
stage of mineral and metal production our 77000 people  
work in over 40 countries our commitment to the health 
safety and prosperity of our people is at the heart of 
our operations so is our determination to maintain the 
environmental integrity of what we do we achieve all of  
this by managing our business globally with a well established 
strategy and a single set of standards and values our approach 
coupled with our diverse portfolio of quality assets positions  
us for growth on a global scale wwwriotintocom 1
overview
symbols used within this report
 more content online at wwwriotintocom
 more content within this report
 
 key performance indicators within this report
overview
a description of our business and markets  
the group’s strategy and the outlook  
for 2011
performance highlights 2
group overview  4
product overview 6
chairman’s statement  8
chief executive’s statement 10
chief financial officer’s statement 12
strategic context 14
the way we work 16
group strategy  18
key performance indicators  22
risk management 24
principal risks and uncertainties 25
performance
how we did by product group and function 
together with a review of progress in 
sustainable development
sustainable development review 29
aluminium 42
copper  46
diamonds  minerals 50
energy  54
iron ore  58
exploration  62
technology  innovation  64
financial review  66
five year review 74
acquisitions and divestments 75
capital projects  76
production reserves and operations
information tables and details of our assets summary  78
metals and minerals production  80
ore reserves  84
mineral resources  88
competent persons 93
mines and production facilities 94
governance
introducing the board of directors and senior 
management with an explanation of our 
approach to corporate governance and 
remuneration
board of directors 102
executive committee  106
directors’ report  108
corporate governance  114
remuneration report 128
financial statements
detailed financial information detailed contents 156 
group income statement 157
group statement of comprehensive income  158
group cash flow statement 159
group statement of financial position 160
group statement of changes in equity 161
reconciliation with aas 162
outline of dual listed companies structure  
and basis of financial statements  162
notes to the 2010 financial statements 163 
company balance sheet 247
financial information by business unit  250
summary of asic relief 254
directors’ declaration 255
auditors’ independence declaration 256
independent auditors’ report 257
financial summary 2001–2010 259
summary financial data 261
additional information
other useful information shareholder information 262
definitions 276
financial calendar  278
useful information and contacts 279
inside this report
performance
production reserves 
and operations governance financial statements additional information 2 rio tinto 2010 annual report
strong financial performance
 record underlying earnings of us140 billion 122 per cent above 2009
 record cash flows from operations of us235 billion up 70 per cent
 record underlying ebitda of us260 billion up 82 per cent on 2009
 net debt decreased from us189 billion to us43 billion at the end  
of 2010
exceptional operational delivery 
 18 per cent decrease in all injury frequency rate from 2009
 production at or above capacity at many operations
 record annual production of iron ore
 annual hard coking coal production up 20 per cent on 2009
 bauxite production up nine per cent
growth potential across the business
 us11 billion of major capital approvals in 2010 with  
us13 billion of capital expenditure expected in 2011
 us56 billion committed in 2010 on pilbara expansion  
100 per cent basis to grow production by more than 50 per cent
 the oyu tolgoi coppergold project came under rio tinto’s 
management with a pathway to increase ownership of  
ivanhoe mines ltd to 49 per cent
 us1 billion approved to modernise hydropower based  
aluminium portfolio in canada
continuing progress on sustainable development
 reduced greenhouse gas ghg emissions intensity by 37 per cent  
from 2008
 43 per cent decrease in the rate of new cases of occupational illness 
from 2009
 community contributions of us166 million up 40 per cent on 2009
dividend
dividend declared 2010 2009 2008 2007 2006
us cents 10800 4500 11122 11123 8507
uk pence 6735 2884 6749 5620 4422
australian cents 11121 5156 14622 12572 11069
notes
   all references in this report to net earnings and underlying earnings relate to profit attributable to equity 
shareholders of rio tinto underlying earnings is defined below and is reconciled to net earnings on page 182 
ebitda is earnings before interest taxes depreciation and amortisation underlying ebitda excludes the same 
items that are excluded from underlying earnings ebitda and underlying ebitda are reconciled to the income 
statement in the “financial information by business unit” section of the financial statements
notes to pages 2 and 3
a  the accounting information in these charts is based on eu ifrs accounting information
b  underlying earnings is the key financial performance indicator which management uses internally to assess 
performance it is presented here as an additional measure of earnings to provide greater understanding of 
the underlying business performance of the group’s operations items excluded from net earnings to arrive at 
underlying earnings are explained in note 2 to the 2010 financial statements both net earnings and underlying 
earnings deal with amounts attributable to owners of rio tinto however eu ifrs requires that the profit for the 
year reported in the income statement should also include earnings attributable to noncontrolling interests  
in subsidiaries
performance highlights
record financial and operational performance
underlying earnings 
a b 
us millions
 kpi see page 22
 more information see page 250
 
us millions
 
 
net debt 
a
us millions
 
 
kpi see page 22
more information see page 199
kpi see page 22
more information see page 252
capital expenditure 
a
 
2006 2007 2008 2009 2010
7338
7443
6298
13987
10303
2006 2007 2008 2009 2010
2437
45191
18861
4284
38672
2006 2007 2008 2009 2010
3988
4968
5356
4553
8488 wwwriotintocom 3
overview performance
production reserves 
and operations governance financial statements additional information
all injury frequency rate
per 200000 hours worked
 including former alcan
 
kpi see page 22
 
more information see page 31
gross sales revenue 
a
 
us millions
  share of equity accounted units sales revenue
 consolidated sales revenue
 more information see page 250
us millions
 
new cases of occupational illness
per 10000 employees
 including former alcan
 
ghg emissions intensity
indexed relative to 2008
 including former alcan
 
 
us cents
 
us millions
  dividends from equity accounted units 
cash flow from consolidated operations
 
kpi see page 22
us millions
 more information see page 157
total shareholder return

 kpi see page 22
operating cash flows 
a 
profit for the year 
a 
more information see page 250 more information see page 188 more information see page 32
kpi see page 22
more information see page 34
underlying ebitda 
a
 underlying earnings per share 
a b
 
2006 2007 2008 2009 2010
9196
10923
10805
12569
13224
13834
23530
22126
19195
20668
2006 2007 2008 2009 2010
7867
7746
5335
15184
4609
2006 2007 2008 2009 2010
109
081
066
095
121
2006 2007 2008 2009 2010
22465
25440
29700
33518
41825
44036
56576
54264
58065
2006 2007 2008 2009 2010
74
928
1728
326
715
2006 2007 2008 2009 2010
1109
925
963
1000
1102
1113
2006 2007 2008 2009 2010
12524
13920
14312
25978
22317
2006 2007 2008 2009 2010
4501
4732
3571
7133
6562
2006 2007 2008 2009 2010
36
22
38
22
47
60323 18
21

of sales by destination 
to north and  
south america 
4 rio tinto 2010 annual report
group overview
opportunities for long term growth
major global operations 
our assets are ideally positioned to serve our customers 
worldwide the majority of our operations are in australia 
and north america but we also have businesses in 
south america europe southern africa and asia while 
our operating heartland is in oecd organisation for 
economic cooperation and development countries 
much of our sales are to emerging economies – which are 
driving the anticipated growth in metals and minerals 
demand to meet rising demand we will continue to 
pursue valueadding organic growth plus targeted small 
to medium sized acquisitions
our five product groups below are supported by our exploration and  
technology  innovation groups
aluminium
w e are a global leader in the aluminium 
industry  our closely integrated facilities include 
high quality bauxite mines and alumina 
refineries as well as some of the world’s  
lowest cost primary aluminium smelters 
products
•	 bauxite alumina aluminium
key strengths 
•	 effective portfolio management improving 
our already strong position and moving 
assets further down the cost curve
•	 largest bauxite producer in the industry 
•	 self generated hydroelectricity at  
many facilities
•	 global scale gives the group the ability to 
seize opportunities and support customers 
worldwide as markets continue their recovery 
•	 one of the best growth project pipelines in 
the aluminium industry supported by our 
management expertise and proprietary  
ap technology™
copper
with diverse assets and leading technology 
our copper group is uniquely positioned to 
supply growing global demand in 2010 we 
produced 678 thousand tonnes of copper 
making us the world’s fifth largest supplier 
we also produced 772 thousand ounces of 
gold and 13 thousand tonnes of molybdenum 
as byproducts of our copper operations 
products
•	 copper gold molybdenum silver nickel
key strengths 
•	 participation in and ownership of several 
world class operating assets management 
of the oyu tolgoi project scheduled to be 
a top ten copper producer and a significant 
gold producer
•	 investment in a substantial growth profile
•	 industry leading technology and innovation
diamonds  minerals
the diamonds  minerals group comprises 
mining refining and marketing operations 
across three sectors rio tinto diamonds is 
one of the world’s leading diamond producers 
active in mining and sales and marketing  
rio tinto minerals is a world leader in borates 
and talc with mines processing plants 
commercial and research facilities rio tinto 
iron  titanium is an industry leader in high 
grade titanium dioxide
products
•	 diamonds borates titanium dioxide 
feedstocks talc high purity iron metal 
powders zircon rutile
key strengths 
•	 poised to benefit from latecycle  
demand growth
•	 substantial brownfield and greenfield 
development pipeline
 full operating review on page 42 full operating review on page 46 full operating review on page 50
contribution to group underlying earnings 
a b
6
contribution to group underlying earnings 
a b
18
contribution to group underlying earnings 
a b
2
a items excluded from net earnings to arrive at underlying earnings are explained in note 2 to the 2010 financial statements 
b aggregate product group underlying earnings contribution of 107 per cent is reduced to 100 per cent by negative amounts for other items and net interest 18
18
19

of sales by destination 
to europe middle east 
and africa
28

of sales by destination 
to china
32

of sales by destination 
to elsewhere in asia 
and australia
    countries with operations andor projects
wwwriotintocom 5
overview performance
production reserves 
and operations governance financial statements additional information
energy
we are a leading supplier of thermal and 
coking coal to the asian seaborne market 
and are one of the world’s largest uranium 
producers serving electric power utilities 
worldwide our energy portfolio includes 
rio tinto coal australia a coal mine at 
colowyo in colorado us energy resources 
of australia which produces uranium oxide 
from its ranger operation and rössing a 
namibian uranium oxide producer
products
•	 thermal coal coking coal uranium
key strengths
•	 strong customer relationships and high 
quality assets located in close proximity  
to growing asian markets
•	 emphasis on operational excellence 
thereby reducing waste and greenhouse 
gas emissions and engaging our people
iron ore
we are the second largest producer supplying 
the global seaborne iron ore trade after a 
decade of dramatic expansion in australia 
and more recent growth in both australia and 
canada we believe we are well positioned to 
benefit from the continuing demand surge  
in china and other asian markets we  
are driving performance through effective 
project management and enhanced 
operational efficiency
products
•	 iron ore salt
key strengths 
•	 proximity of the expanded pilbara 
operations to the world’s largest and  
fastest growing markets
•	 success in increasing operational 
efficiency and controlling costs
•	 vast potential of brownfield developments 
near existing infrastructure
 full operating review on page 54 full operating review on page 58
exploration
exploration is one of the group’s core 
activities – largely paying for itself through 
the sale of non core discoveries
potential tier 1 discoveries see page 62  
are retained for development and operation 
these have included two of the largest copper 
opportunities in the world at resolution 
in arizona us and la granja in peru 
exploration has also delivered one of the 
world’s largest known undeveloped high 
grade iron ore deposits at simandou in 
guinea as well as the caliwingina channel 
iron deposits in the pilbara australia
 full operating review on page 62
technology  innovation
our centralised team of specialists focuses 
on improving current technologies and 
operations with emphasis on project 
development execution and evaluation  
the group’s innovation centre concentrates 
on step changes that will give us competitive 
advantages in developing the orebodies of  
the future a special energy  climate strategy  
centre is dedicated to improving the group’s 
use of energy reducing greenhouse gas 
emissions and understanding the effects  
of climate change on our operations  
and prospects 
 full operating review on page 64
contribution to group underlying earnings 
a b
8
contribution to group underlying earnings 
a b
73 6 rio tinto 2010 annual report
product overview
touching your life every day
major global commodities 
few people around the world can spend a day without using a metal 
or mineral in some way  in the production and supply of metals and 
minerals rio tinto is one of the world’s most diversified companies 
major products are aluminium copper diamonds coal iron ore 
uranium molybdenum gold borates titanium dioxide salt and talc 
aluminium
bauxite alumina aluminium 
rio tinto is a leading global supplier of bauxite alumina and 
primary aluminium in a closely integrated value chain the 
mineral bauxite is refined into alumina which is smelted into 
aluminium metal aluminium is one of the most widely used 
metals and its largest markets are transportation building  
and construction
copper
copper
about two thirds of copper production is used in electrical 
applications due to its high conductivity it helps power our lives 
in homes and factories cars computers phones and equipment 
further major uses are in air conditioning and refrigeration 
plumbing and roofing 
molybdenum
molybdenum is a metallic element frequently used in alloys 
with stainless steel and other metals it enhances the metal’s 
toughness high temperature strength and corrosion resistance 
we produce molybdenum as a byproduct from the kennecott 
utah copper operations
gold
gold has enjoyed a mystique and value unrivalled by other metals 
most gold that is not stored as bullion for investment purposes 
goes into jewellery gold’s conductivity and non corrosive 
properties make it a vital fabrication material in technology 
electronics space exploration and dentistry we produce gold  
as a byproduct from our copper mines
silver
silver is a good conductor of electricity and does not corrode it is used 
in many electrical and electronic applications such as photovoltaic 
cells and is the principal ingredient of xray film silver is also a metal 
of beauty used to make lasting products for the home and person  
rio tinto produces silver as a byproduct of its copper production
diamonds  minerals
diamonds
diamonds share the role with gold as an important component 
in jewellery that ranges from top end jewellery through to more 
affordable pieces rio tinto is able to service all diamond jewellery 
markets as it produces the full range of diamonds in terms of size 
quality and colour distribution including whites champagnes 
cognacs greys blues and greens and the rarest of all pink diamonds
borates
refined borates are used in hundreds of products and processes they 
are a vital ingredient of many home and automotive applications 
and are essential nutrients for crops they are commonly used 
in glass and ceramic applications including fibreglass television 
screens floor and wall tiles and heat resistant glass
segmental analyses of sales revenue by product and by destination have been included in note 32 to the 2010 financial statements wwwriotintocom 7
overview performance
production reserves 
and operations governance financial statements additional information
titanium dioxide
the minerals ilmenite and rutile together with titanium slag can 
be transformed into a white titanium dioxide pigment or titanium 
metal the white pigment is a key component in paints plastics 
paper inks textiles food sunscreen and cosmetics titanium 
metal’s key properties of light weight chemical inertness and high 
strength make it ideal for use in medical applications and in the 
aerospace industry
talc
talc is hydrated magnesium silicate and is the softest rock in the 
world it is an important ingredient in the manufacture of paper 
paints moulded plastics for cars and other familiar products  
rio tinto produces various grades of talc for niche markets
energy
coal 
coal is plentiful relatively inexpensive and safe and easy to 
transport we are a large producer in the export thermal coal 
market thermal coal is used for electricity generation in power 
stations we also produce higher value coking or metallurgical 
coal which when treated into coke is used in furnaces with iron 
ore to produce steel 
uranium
uranium is one of the most powerful natural energy sources known 
used in the production of clean stable base load electricity after 
uranium ore is mined it is milled into uranium oxide the mine 
product that is sent away for further processing into fuel rods for 
nuclear power stations
iron ore
iron ore
iron is the key ingredient in the production of steel one of the 
most fundamental and durable products for modern day living 
with uses from railways to paperclips our mines are located in 
australia and canada
salt
salt is one of the basic raw materials for the chemicals industry 
and is indispensable to a wide array of automotive construction 
and electronic products as well as for water treatment food  
and healthcare
marketing channels
all sales and marketing activity is conducted by rio tinto’s product groups who utilise a range of sales and marketing channels 
to interact with customers these channels include direct sales sales via distributors and sales via agents no customer facing 
sales and marketing activity is handled outside of the product groups 8 rio tinto 2010 annual report
jan du plessis
our commitment to operational excellence 
has seen us capitalise on improved conditions 
in the external environment
chairman’s statement
a year of record results
rio tinto had an outstanding 2010 after responding to the challenges 
of the global financial crisis and taking steps to stabilise and 
strengthen our organisation we are now concentrating on and 
delivering operational excellence this focus has allowed us to 
benefit from opportunities that have arisen in the more favourable 
external environment and to deliver record results in 2010 
the exemplary performance of rio tinto’s people was fundamental 
to our success in 2010 their efforts enabled us in many cases 
to work our assets throughout the year at or above nameplate 
capacity while also improving our safety performance in 2010 
we set a new group record in the annual production of iron ore 
we achieved record underlying ebitda of us260 billion and 
record underlying earnings of us140 billion up 82 per cent  
and 122 per cent on 2009 respectively net earnings were 
us143 billion compared with us49 billion in 2009
we remain committed to efficient capital management it is our 
belief that the long term creation of shareholder value requires a 
balanced approach to investing in growth and returning excess 
capital to shareholders while maintaining a strong balance sheet 
our confidence both in our own portfolio and in future demand 
for our products has allowed us to increase our annual dividend by 
20 per cent compared with our previous commitment we are also 
proceeding with a us5 billion share buyback which we intend  
to complete by the end of 2012 subject to market conditions
improved global economy
the world’s major developed economies gradually stabilised 
during 2010 in response to government fiscal and monetary 
stimulus packages most were experiencing renewed gdp growth 
by the third quarter of 2009 china saw a sharp rebound in gdp 
growth up from an annualised rate of nearly six per cent in 2009 
to over ten per cent in 2010 
this economic stimulus has helped trade to recover from the 
low point of the global crisis and thanks to our stronger balance 
sheet we have been well positioned to benefit from this recovery 
we have sharpened our focus on our programme of organic 
growth and for 2011 we envisage continuing this focus with 
capital expenditure set to increase to us13 billion
we believe we are well prepared for the key challenges facing the 
mining industry as we grow to meet rising demand we will need 
to overcome skills shortages as we compete for new talent not 
only with other mining companies but also with other expanding 
sectors such as oil and gas this trend will become more apparent 
as we move into new riskier geographies there will be new 
technical challenges as we develop more remote and complex 
orebodies and increased competition from new players in our 
sector although we anticipate continued volatility in our markets 
we will need to look beyond the peaks and troughs of a cycle and 
be prepared to expand through volatile times
dividends
10800
2009 4500
2006 2007 2008 2009 2010
8507
11123 11122
4500
10800
us cents wwwriotintocom 9
overview performance
production reserves 
and operations governance financial statements additional information
sustainable development
as the world becomes more reliant on the metals and minerals 
we produce we are increasingly challenged to grow and to find 
new more efficient ways of providing our markets with the raw 
materials they demand and as we grow we are able to share more 
of the sustainable benefits of our activities with those around us
rio tinto’s commitment to sustainable development permeates 
our entire business it is integral to our daily operations to our 
legacy and to our future by maintaining our reputation as a 
responsible employer neighbour partner and citizen we are 
constantly renewing our licence to operate this approach gives  
us continuing access to the people capital and resources we need
we are recognised as a leader in sustainable development as 
evidenced by our continued listing on the ftse4good the 
dow jones sustainability indexes and the carbon disclosure 
leadership index our reputation helps us forge robust alliances 
with other organisations that lead the way in sustainable 
development such as the three year partnership we formed with 
the international union for conservation of nature in 2010 by 
sharing knowledge and best practice with our partners we seek to 
continue to deliver sustainable benefits to the people and places 
where we work 
governance and risk
to achieve our vision of global sector leadership we must 
continue to maintain the highest standards of corporate 
governance these standards are underpinned by ethical guidance 
in the form of our global code of conduct the way we work the 
application of best practice and continually striving for excellence 
to create value for our shareholders based upon our agreed 
strategic framework rio tinto’s board supports and oversees 
the group’s management in its delivery of sustained operational 
excellence as well as growth opportunities whether organic or 
through prudent corporate activity
the board recognises that risk is an integral and unavoidable 
part of doing business and that while risk carries threats it also 
offers opportunities our processes for handling risk effectively 
are embedded throughout our organisation and are essential for 
maintaining our competitive advantage there is a more detailed 
discussion of risk management on page 24 
board succession planning is an essential component of effective 
corporate governance and the continued success of our business in 
2010 we strengthened our board through the appointment of two new 
non executive directors ann godbehere and robert brown 
we also saw two retirements from the board  sir david clementi 
who was chairman of the audit committee stepped down in may 
2010 as did david mayhew  in accordance with a provision of the 
new uk corporate governance code all of the directors will stand for 
reelection by shareholders annually with effect from the 2011 annual 
general meetings  as previously indicated yves fortier formerly 
chairman of the board of alcan inc and also sir rod eddington will not 
be standing for reelection by shareholders in 2011 yves and rod have 
each made significant contributions to the board during their tenure 
with rio tinto and i would like to express my personal appreciation 
of the tremendous support they have given to me over the years  
meanwhile andrew gould senior independent director and chairman 
of the remuneration committee has announced that he will be leaving 
the board at the conclusion of the 2012 annual general meetings
on behalf of the board i continue to lead the succession and routine 
refreshment of directors to ensure the most appropriate balance of 
skills and experience and to drive effective decision making
outlook
urbanisation and industrialisation in populous parts of the world 
will continue to provide a strong platform for increasing demand 
for metals and minerals although long term fundamentals for 
growth are strong there are downside risks in the short term and 
potential for medium term volatility due to persistent economic 
imbalances financial systems remain fragile particularly in 
oecd countries the increase in sovereign debts and government 
measures to address fiscal imbalances are likely to temper short 
term growth 
we constantly seek to assess the potential impact of these factors 
on the group’s plans and to enhance our capabilities to predict 
demand and understand our markets
our people’s commitment
it is inspiring to see the way our global team of people 
works together and strives for ways to improve our collective 
performance throughout the year their commitment talent  
and integrity have led to the delivery of remarkable results 
on behalf of the board i would like to thank all of our people for 
their hard work during the past year our thanks also go to our 
shareholders whose continued support of rio tinto has helped  
us achieve record levels of performance in 2010
jan du plessis chairman 10 rio tinto 2010 annual report
chief executive’s statement
strong momentum and value adding growth
tom albanese
from a position of increased strength and with 
growth firmly on our agenda we are making 
significant progress towards our vision of global 
sector leadership
2010 saw rio tinto move steadily towards its vision of global sector 
leadership recording exceptional performance and creating a 
clear pathway for sustainable growth 
we are now financially stronger and have greater optionality 
thanks to significant progress with our divestment programme 
efficiencies derived from our business transformation initiatives 
and record annual production in our iron ore business 
improved pricing and market conditions also enhanced our flexibility 
and enabled us to approve us11 billion in major capital projects 
during 2010 growth is firmly on our agenda
these achievements are a credit to the 77000 employees who 
work for rio tinto across the world and i would like to thank  
them for their ongoing commitment
in 2010 we increased our focus on operational efficiency and 
risk management with a particular emphasis on compliance and 
continuous improvement running operations which are safe 
reliable and injury and illness free is our number one priority  
we are proud to have improved our safety record with an  
18 per cent decrease in the all injury frequency rate however 
i must record with sorrow the deaths of three people in our 
managed facilities 
we have increased our focus on process and contractor safety 
remaining absolutely committed to safety in the workplace we 
are determined to achieve zero harm in all of our operations
strategy
our strategy has remained absolutely consistent – to invest in  
and operate large long term cost competitive mines and assets 
driven not by the choice of commodity but rather by the quality  
of each opportunity
to achieve this we focus on a portfolio of tier 1 assets diversified by 
commodity market and geography this approach has underpinned 
our ability to overcome the challenges of previous years i am greatly 
encouraged by the group’s performance which is a testament to our 
focus on creating shareholder value in the long term 
2010 objectives
as a result of the investments announced during the year we have 
significantly enhanced our global presence in key operational areas 
in 2010 to support the execution of our strategy we focused 
the business on five short term priorities operational delivery 
prudent balance sheet management pursuing our growth path 
completing the proposed western australian iron ore production 
joint venture and strengthening our relationship with china 
i am pleased to say we made significant progress in almost all  
of these areas 
our focus on operational delivery helped us break production records 
we took steps to optimise our financial position and as a result our 
balance sheet is stronger we grew organically reflecting confidence 
in our business and the outlook for our markets 
the cessation of our plans to form a western australian iron ore 
production joint venture with bhp billiton was a disappointment 
but we respect the regulators’ views we remain focused on a more 
than 50 per cent expansion of our iron ore business in the pilbara 
leveraging our world class assets and organisational capability
we began 2010 with a difficult period in china but went on to  
make significant progress in developing stronger ties there in  
march 2010 four employees based in shanghai were convicted of  
receiving bribes and obtaining commercial secrets this disappointing 
and unacceptable behaviour violated the group’s strong ethical 
culture as well as chinese law hence their employment was terminated  
the independent forensic investigation found that any illegal 
activities were conducted entirely outside the group’s systems 
2006 2007 2008 2009 2010
109
081
066
095
121
all injury frequency rate
per 200000 hours worked
 including former alcan
066
2009 081 wwwriotintocom 11
overview performance
production reserves 
and operations governance financial statements additional information
we also looked towards the future in july we signed a joint venture 
agreement with chalco for the development and operation of the 
simandou iron ore project in guinea and we continue to have 
discussions with the government of guinea at the end of the 
year we signed a memorandum of understanding with chinalco to 
establish a landmark exploration joint venture in china and also 
agreed to extend our channar mining joint venture in the pilbara 
with our partner sinosteel corporation 
in a year of considerable progress across the group several 
projects stand out our iron ore expansion plans in the pilbara 
our increased interest in the oyu tolgoi coppergold project 
in mongolia and the signing of an agreement to become the 
development and operating manager of oyu tolgoi and progress 
towards modernising and expanding our canadian aluminium 
portfolio at the end of the year we announced a recommended 
offer for riversdale mining limited which if successful would 
provide us with a substantial tier 1 coking coal development 
pipeline in mozambique this is an example of the small to 
medium sized acquisitions that we are currently focused on
a strong framework for sustainable development 
wherever we operate whatever we do sustainable development 
underpins our vision our sustainable development approach gives 
governments confidence that we will develop resources in a way  
that will benefit their economies and communities and will protect 
their environments
the mining and natural resource sector occupies an increasingly 
strategic and exposed position in the thinking of governments 
and other stakeholders while these factors can lead to tensions 
with effective management new opportunities will emerge 
through proactive leadership and by building relationships  
with all our stakeholders we can turn this area of challenge  
and complexity into a source of competitive advantage 
we will continue to show leadership in areas such as employee  
health and safety community engagement and in global issues vital  
to the future of the world’s environment such as carbon water use  
and biodiversity 
well placed to meet rising demand
prices for many of our products recovered during the year driven 
principally by demand growth in china and the oecd countries 
iron ore and copper prices were particularly strong while 
government stimulus measures generally supported a gradual 
return to normalised global trade the improvement in developed 
economies faded slightly during the latter part of 2010
we believe the recovery momentum of the major economies will 
remain uncertain and volatile as the impact of the fiscal and 
monetary stimuli fades therefore we remain cautious about the 
short term view of the economy globally we expect gdp growth 
in 2011 to continue at broadly healthy levels of around 45 per 
cent however the pace of economic recovery will vary between 
the different markets we supply
in the longer term we believe the fundamentals are strong but 
we will not be complacent much of the anticipated growth in 
demand for minerals will be driven by china and other emerging 
economies implementation of our established strategy will 
enable us to take advantage of increasing demand from these  
fast growing regions 
financial recovery
we will meet that demand from a strong financial position  
in the past year we have transformed the group’s balance sheet 
our robust operating performance including record annual 
production in iron ore led to record cash flows and underlying 
earnings in 2010 we completed a number of disposals making 
asset sales totalling us42 billion in 2010 this takes the total 
divestments completed since 2008 to more than us11 billion 
and largely completes the disposal programme launched in 2007
achieving our vision 
with a focus on organic growth we will also consider strategic 
merger and acquisition opportunities of moderate size that fit  
our overall direction and help us achieve our vision 
as we move into 2011 we have established a longer term vision 
for global sector leadership reflecting the long term nature of our 
business our strategy and business model are explained in detail 
on p18
the people who make it all happen
we are fortunate in the group that our geographic spread gives 
us access to the skills and talents of a highly diverse workforce 
but there is much more we have to do and we have set ambitious 
plans to foster greater diversity
it is our policy to offer our employees career opportunities that  
are rewarding and stimulating with real opportunities for personal 
and professional development for example training and recruitment 
programmes are under way in a number of countries in which 
we have embarked on major development opportunities these 
include madagascar mongolia and guinea 
we recognise that given our ambitious growth plans our 
recruitment challenge will be substantial particularly in some 
of our more competitive labour markets we will not fulfil this 
requirement without a concerted effort to make rio tinto the 
employer of choice something we are committed to achieving
i want to take this opportunity to thank our shareholders my 
leadership team and all of our employees across the world it has 
been a year of exceptional performance and momentum which 
was truly a team effort i am looking forward to building  
on this success in 2011 
in a world of increasing commodity demand and growing 
sustainable development challenges i believe rio tinto will 
set itself apart through its leadership in operational delivery 
exploration technology and innovation and sustainable 
development to become the preferred industry partner  
and developer
tom albanese chief executive 12 rio tinto 2010 annual report
chief financial officer’s statement
sustainable growth in shareholder value
guy elliott
rio tinto is once again able to invest in its 
high quality value adding growth programme 
maintain a strong balance sheet and deliver 
capital returns to shareholders
record breaking financial performance
record underlying earnings of us140 billion were 122 per cent 
higher than 2009 driven by the continuing recovery in commodity 
prices and strong operational performance record cash flows from 
operations of us235 billion demonstrated the exceptional cash 
generation capabilities of our tier 1 assets 
strong operational performance during 2010 allowed us to benefit 
fully from the strong price environment the broader global 
recovery meant that we began to face pressures on our costs that 
are likely to continue in the coming year in particular labour and 
contractor costs in some geographies such as western australia 
are expected to rise however we are focusing on productivity 
improvements effective procurement and operating efficiency  
to help to offset these input cost pressures 
the markets for our products are increasingly complex with the 
introduction of new pricing mechanisms in the bulk commodity 
markets the continued emergence of base metals as a financial 
asset class and the volatile macroeconomic environment in which 
we continue to operate to navigate these challenges effectively 
rio tinto has formed a marketing leadership team this team 
will support our marketing vision of optimising the value of our 
resources enabling our sales and marketing teams to become 
increasingly nimble and customer focused
restoration of balance sheet strength
we transformed our balance sheet in 2009 and we further 
improved on that position during 2010 through strong cash 
flows from operations and the completion of us42 billion in 
divestments we reduced our net debt from us189 billion to 
us43 billion 
in addition to reducing net debt we have also improved our 
medium term debt maturity profile and reduced our weighted 
average interest cost in october 2010 we successfully issued  
us2 billion in bonds with five ten and 30 year maturities at 
record low interest rates for the metals and mining industry  
the proceeds were used in a successful tender for us19 billion 
of bonds due in 2013
these actions are part of a prudent approach to managing 
the balance sheet this approach has been rewarded by the 
restoration of a single a credit rating by moody’s 
a strong balance sheet will allow rio tinto to invest at all points 
of the commodities cycle in our first class growth projects it 
may help us to withstand sudden large shocks to the global 
economy that could arise from the significant imbalances that 
currently exist enabling us to take advantage of value creating 
opportunities as they arise
the investment environment
over the long term we expect industrialisation and urbanisation 
in developing economies including china and india to continue 
to drive underlying growth in demand for the commodities that we 
produce in europe and north america high levels of government 
debt will mean difficult decisions for governments as they rebalance 
their economies these worldwide discontinuities introduce the 
risk of unexpected shocks in the global economy our outlook is 
therefore for strong underlying growth for our products but with  
a potentially high degree of volatility 
it is important that we have a stable environment within which we can 
invest a key to successful mineral development is a culture of trust 
transparency and mutual benefit to all parties australia’s proposed 
resource super profits tax and its subsequent replacement with the 
mineral resource rent tax proposal highlighted that resources and 
resource nationalism are now major items on the political agenda 
to be upda ted
net debt
us millions
4284
2009 18861
2006 2007 2008 2009 2010
2437
45191
38672
18861
4284 wwwriotintocom 13
overview performance
production reserves 
and operations governance financial statements additional information
in many countries rio tinto is committed to working constructively 
with all host governments to ensure that tax policy development 
does not create a hostile environment for investment 
within this context our strategy remains to invest in tier 1 
resources – those with the potential for a long life that are cost 
competitive and that have options to expand we do not prioritise 
investment in any particular commodity and do not limit ourselves 
to those commodities in which we currently operate similarly 
we do not target or avoid specific geographies by focusing on 
identifying and investing in tier 1 assets which will add value to 
our shareholders regardless of the commodity concerned we will 
remain a diversified natural resources group
investing in organic growth
we have a very strong pipeline of high quality organic projects and 
a resource and mineralisation position which allows sustainable 
long term growth because the quality of our projects is high we 
will maintain our position as a large cost competitive producer 
we have continued to invest in the business with capital expenditures 
in 2010 of us46 billion during the year we approved us11 billion for 
new major projects including expansion of our iron ore infrastructure and 
mines in w estern australia and canada the first phase of an aluminium 
smelting plant in quebec using our new ap60 technology and the 
modernisation of the kitimat aluminium smelter in british columbia 
the approval of these and other projects in 2010 together with  
ongoing projects such as the expansion of yarwun alumina refinery 
and the kestrel coking coal mine will drive the allocation of  
capital in 2011 when we expect capital expenditure of 
approximately us13 billion 
in 2010 we began to reinvigorate our exploration and evaluation 
programmes the group has a long history of finding high quality 
assets through exploration we are funding feasibility and  
prefeasibility studies on projects such as the further expansion  
of our pilbara operations simandou la granja resolution and 
the kennecott utah copper extension this work will develop the 
next generation of tier 1 assets 
rio tinto has a very substantial inventory of projects and resources 
which have not yet reached the stage of development approval 
these projects provide us with valuable growth potential over the 
longer term 
business development
since the beginning of 2008 we have realised over us11 billion of 
gross cash proceeds from the sale of non core assets the majority 
of the divestments identified during the strategic review in 2007 
are now complete including nearly all of the alcan downstream 
businesses however we will continue to review the portfolio of 
assets to identify those that are no longer consistent with our 
strategy with a particular focus on higher cost aluminium assets
we are also constantly reviewing the market for potential 
opportunities to add to our portfolio through small to medium 
sized acquisitions and other business combinations 
in december we announced a recommended cash offer for 
riversdale mining this is a good fit with rio tinto’s strategy 
of focusing on small to medium sized acquisitions that provide 
access to large long term cost competitive assets
in december we signed an agreement with ivanhoe mines 
the owner of 66 per cent of the world class oyu tolgoi copper
gold project in mongolia whereby rio tinto will become the 
development and operating manager of that project we have  
now increased our ownership interest in ivanhoe mines to  
421 per cent and secured the right to increase this further  
to 49 per cent
we will continue to look for further innovative opportunities to 
enter into new joint ventures with various parties in the past we 
have gained access to new resources new geographies and special 
expertise through such vehicles and will look to continue to do so 
in the future 
we continue to employ a disciplined approach to investing in 
growth opportunities investments in projects and business 
combination opportunities must continue to meet our strict 
criteria of investing in high quality large long term cost 
competitive and expandable assets at good value
the return of capital to shareholders
our first priority for allocation of capital has always been and 
remains to make value adding investments in our business in  
order to optimise shareholder value we are committed to achieving  
and maintaining a single a credit rating
a further priority is our dividend we were pleased to announce 
a final dividend of 63 us cents per share the total dividend in 
respect of 2010 was 108 us cents per share 20 per cent higher 
than the dividend commitment we had made to shareholders at 
the time of the rights issues in june 2009 this will form the basis 
of a progressive dividend policy so that we expect the us dollar 
value of ordinary dividends will increase over time the interim 
dividend is set at one half of the total dividend for the previous 
year and is therefore expected to be 54 us cents per share in  
2011 under the progressive dividend policy the final dividend  
for each year is expected to be at least equal to the previous 
interim dividend
we recognise that during times of high cash generation a progressive 
dividend policy alone will not return excess cash to shareholders 
therefore we are undertaking a us5 billion share buyback 
programme over 2011 and 2012 subject to market conditions 
this commitment will still leave us with the flexibility to 
make significant investments in our business while remaining 
committed to achieving a single a credit rating
rio tinto is once again able to invest in its high quality value 
adding growth programme maintain a strong balance sheet and 
deliver capital returns to shareholders our established strategy 
financial discipline and leadership in project execution all mean 
that we are well positioned to continue creating sustainable 
growth in shareholder value over the coming decades
 
guy elliott chief financial officer 14 rio tinto 2010 annual report
strategic context
a global perspective for metals and minerals
competitive environment
rio tinto is a major producer in most of the metals and minerals 
markets in which it operates it is generally among the top five global 
producers by volume in each such market rio tinto’s activities are 
spread across the globe most of rio tinto’s competitors are private 
sector companies which are publicly quoted several are like  
rio tinto diversified in terms of commodity exposure but others  
are focused on particular commodities
high quality long life mineral resources on the basis of attractive 
financial returns are relatively scarce nevertheless rio tinto 
holds interests in some of the world’s largest deposits rio tinto 
expects world production volumes to grow in line with global 
economic growth in addition higher demand from china and 
potentially india as a result of high rates of economic growth  
and urbanisation trends in those countries could contribute 
further to increases in world production volumes in the long term
global economy
the introduction of large fiscal and monetary stimuli by governments 
around the world started to take effect towards the middle of 2009 
global trade started to recover during the second half of the year 
led by activity in asia major developed economies gradually 
stabilised with most experiencing renewed gdp growth by the 
third quarter of 2009
the recovery continued into 2010 although with marked differences 
in the pace and sustainability of growth between oecd and emerging 
asian countries the emergence of a twospeed economy reflects the 
fact that financial excesses leading to the global crisis had developed 
primarily in advanced economies which now face a significant 
adjustment process however it is also a reminder that many of the 
global imbalances that had accumulated over the past decade remain 
and in some cases have become more acute
the recovery in the oecd has so far been dependent on 
government stimulus and an initial phase of inventory rebuilding 
with the growth momentum built since the middle of 2009 fading 
slightly in the latter part of 2010 sovereign debts in advanced 
economies have increased significantly as a result of the financial 
crisis and governments in several countries are now faced with 
tough decisions to address fiscal imbalances by reducing spending 
and raising taxes with likely negative consequences for short 
term growth financial systems remain fragile implying scope for 
volatile outcomes ahead
although the short term prospects for emerging economies are 
much brighter asian countries continue to rely strongly on 
demand from advanced economies the reform process required 
to boost domestic consumption is likely to be lengthy in the 
meantime growth in china has become even more dependent 
on investment than before the global financial crisis with fixed 
capital formation now accounting for over 40 per cent of china’s 
gdp such imbalances are likely to remain key challenges for the 
global economy in coming years however the key underlying 
trends of urbanisation and industrialisation in populous parts of 
the world will continue to provide a strong platform for growth
china
the sharp rebound in china’s economic growth since the first 
quarter of 2009 resulted from the chinese government’s rapid 
response to the collapse of global trade as well as a reversal 
of tightening policy introduced during 2008 to combat an 
overheating property market the rmb4 trillion stimulus package 
introduced in late 2008 and the accompanying surge in bank 
lending spurred the development of infrastructure projects and a 
quick turnaround in housing construction activity having fallen 
to an annualised pace of nearly six per cent in early 2009 china’s 
gdp growth exceeded ten per cent in 2010
with the growth momentum firmly back on track the chinese 
government renewed its attempts to quell rising house prices 
through a series of policy interventions the key challenge is 
for the government to successfully contain inflation and asset 
bubbles in an environment of excess liquidity the government 
is also pushing for more incremental structural reforms to boost 
household consumption
as the chinese economy transitions towards its 12th five year 
plan it is likely to focus increasingly on development strategies 
and institutional reforms aimed at reducing some of the growing 
domestic imbalances this should translate into a stronger focus 
on technology and services as well as policies targeting the 
development of inland and rural areas although such reforms 
could ultimately lead into a phase of economic growth that is less 
commodity intensive than over the past ten years investment 
and the development of infrastructure projects should remain an 
important aspect of the chinese economy in the medium term 
china consumed 400kg of steel per capita in 2009 about half the 
levels seen in japan at its peak with significant scope for further 
increases in coming years
commodity price indices
daily spot price index 1 january 2009  100
jan09 mar09 may09 jul09 sep09 nov09 jan10 mar10 may10 jul10 sep10 nov10 jan11
80
120
160
200
240
280
320
360 spot iron ore 62 fe fob
aluminium
copper
thermal coal newc
sources lme reuters ecowin globalcoal platt’s
economic imbalances may lead to volatility
countries debt to gdp ratio 
1990 1995 2000 2005 2010
advanced economies
emerging and developing economies
world
g7
20
40
60
80
100
120
source imf wwwriotintocom 15
overview performance
production reserves 
and operations governance financial statements additional information
commodity markets
the start of a stabilisation in the global economy from the second 
quarter of 2009 and more importantly the rapid turnaround of 
the chinese economy triggered a sharp rebound in commodity 
prices chinese imports of metals and minerals soared to new 
highs during 2009 as a result of recovering underlying demand 
restocking scrap shortages closure of high cost domestic capacity 
and some speculative activity facilitated by rising liquidity as 
a result china’s share of global demand in 2009 increased to 
between 35 and 50 per cent for several commodities and up  
to two thirds for traded iron ore
china’s strong appetite for commodities continued into 2010 
in combination with resurgent demand from oecd economies 
although minerals and metals consumption in advanced economies 
remained below precrisis levels the demand trends contributed 
to a further tightening in some markets and a return to prices 
seen in mid 2008 for commodities such as copper and iron ore 
in a significant shift in energy markets in 2009 china became a 
net importer of thermal coal this continued into 2010 absorbing 
supply from traded asian seaborne coal and keeping upward 
pressure on prices meanwhile the aluminium market has moved 
closer to balance during 2010 benefiting from strong demand from 
the recovering automotive sector however overall stock positions 
remain high compared to historical levels
for bulk commodities a key development during 2010 has been 
a further step away from previous benchmark price settlement 
mechanisms and towards more market oriented and shorter 
term pricing arrangements these movements reflect changing 
market dynamics with china being the main catalyst through 
rapid demand growth and greater fragmentation of the demand 
and supply sides pricing periods for coking coal and iron ore 
have moved towards quarterly cycles and in the case of iron ore 
references to published price indices started to appear in term 
contracts although still relatively underdeveloped these new 
pricing arrangements are attracting the attention of financial 
institutions with the establishment of financial tools such as 
futures contracts for iron ore
the growing influence of financial investors is also being felt in 
the already well developed base metals markets with discussions 
during 2010 focused on plans to introduce physically backed 
exchange traded funds for aluminium and copper low interest 
rates are already facilitating the financing of stock positions in 
the aluminium market where a large proportion of on and off lme 
inventories are currently understood to be tied into financing 
deals such activities are likely to continue in a context of further 
quantitative easing the major effects of which are to reduce real 
interest rates weaken the us dollar raise inflation expectations 
and increase asset prices especially for assets leveraged to growth 
in developing countries such as commodities
despite the greater participation of an increasing web of financial 
players in the commodity markets physical fundamentals remain key 
in driving price dynamics in a context of renewed strong demand 
cost inflation is starting to creep up again across the mining industry 
with potential supply side challenges as a consequence 
outlook for 2011
forecasters have become more cautious about the strength in 
oecd economies in 2011 but the imf is still predicting global 
growth above four per cent and chinese gdp is expected to grow 
above nine per cent historically global growth at these levels has 
provided a strong basis for commodity demand allowing rio tinto 
to run its operations at full capacity
some risks to the near term outlook include an inevitable reduction 
in the level of fiscal and monetary stimulus much of which is 
commodity intensive another key risk is linked to sovereign debt 
crises especially in europe and the potential impact that these 
could have on the stability of global financial markets as well as 
implications for investor and consumer confidence
looking to the longer term increasing prosperity in developing 
countries including china and india with associated industrialisation 
and urbanisation will continue to drive underlying growth 
in demand for commodities at the same time it is apparent 
that global imbalances might take many years to resolve this 
points to a high average growth setting for our markets but also 
one characterised by potential strong volatility rio tinto and 
the mining industry in general are responding to the rapid 
demand recovery and stronger prices with reinvigorated capital 
expenditure expansion plans this is in turn putting renewed 
pressure on skills equipment and key raw material availability with 
implications for cost escalation and project schedules 
10
20
30
40
50
60
70
oil cu al ni coal steel iron ore 
traded
chinese demand as a share of global consumption

 2008
 2009
 2010
 
2nd
1st
1st
1st
1st
1st
1st
sources wbms bp iisi cru
global 2010 coal demand data was unavailable at the time of publication
global ranking in 2009
0 10000 20000 30000 40000 50000
20
40
60
80
100
source un
india
china
us
2009 urbanisation rate

gross national income per capita us at ppp 16 rio tinto 2010 annual report
the way we work defines how we conduct  
ourselves as a business it is underpinned by our 
values our approach to sustainable development  
and by effective corporate governance
the way we work
our global code of conduct
related sections within this report
 report on corporate governance
p114
 risk management
p24
 sustainable development review
p29
four values define rio tinto accountability respect 
teamwork and integrity  
they guide everything we do and are expressed through the 
principles and standards of conduct as set out in a global code 
of conduct called the way we work available on our website at 
wwwriotintocomlibrary
the way we work defines the way we manage the economic 
social political environmental and governance challenges of 
our operations it also frames a unified approach to complying 
with the regulatory obligations of our stock exchange listings 
in the uk australia and the us everyone in the group is 
required to take training on the way we work 
but most important of all our values help the group to 
fulfil our commitment to shareholders to maximise total 
returns whilst also fulfilling our commitment to contribute 
to sustainable development this is because as a company 
with a reputation for acting responsibly we will be 
welcome as investors partners and members of the  
local community wherever in the world we operate 
this will hold true even as expectations and regulations 
surrounding corporate governance change following the  
global financial crisis and our business evolves
we regularly review our practices to make sure they are aligned 
with changing regulations and that they continue to support 
the principles and values contained in the way we work
jan du plessis chairman
chairman’s introduction 
related information online at wwwriotintocom 
 wwwriotintocomlibrary
 wwwriotintocomourapproach
governance
sustainable development
values
the way
we work wwwriotintocom 17
overview performance
production reserves 
and operations governance financial statements additional information
governance
the role of the board
rio tinto plc and rio tinto limited have a common board of  
directors who are responsible for the group’s success and accountable 
to shareholders for our performance
consistent with accepted good practice the board consists of a 
mix of executives and independent non executives the majority 
being independent non executives this combination balances 
innovative thinking with business knowledge and experience 
the board has established committees responsible for audit 
executive remuneration executive and non executive succession 
social and environmental matters and assisting the board to 
deliver its responsibilities each plays a vital role in underpinning 
how we work 
to ensure their relevance and continuing adherence to best practice 
the committees annually review their terms of reference more 
detailed descriptions of the board and its committees are on  
pages 118 and 122
managing risk
rio tinto recognises that risk is an integral component of its  
business and that it is characterised by both threat and opportunity 
the group fosters a risk aware corporate culture in all decision 
making through skilled application of high quality integrated 
risk analysis and management we enhance opportunities and  
reduce threats and so achieve and maintain competitive advantage 
the group’s risk standard guides the process by providing an 
overall methodology and structure for the handling of risk within 
the organisation the group seeks to provide the board and 
senior management with a consistent group wide perspective 
of the key risks reports are submitted to the board twice per 
year and include assessment of the likelihood and impact if risks 
materialise along with risk management initiatives
sustainable development
as a company we naturally meet the needs of customers but 
we seek to do this without compromising the ability of future 
generations to meet their needs that is what we mean by 
sustainable development it is good business as well as good sense
our continuing financial success depends on the group’s ability to 
gain access to the land people and capital we need to do that we 
put our economic social environmental and technical expertise 
to work to harness these resources this process creates prosperity 
that is shared among shareholders employees communities 
governments and business partners
but there is more to it than that sustainable development also 
demands rigorous environmental stewardship if we cannot 
always prevent harm we can minimise and remediate any 
negative environmental effects of the group’s operations to 
ensure this we have developed high standards that we maintain 
by implementing a wide range of practical programmes these 
apply to issues that include air quality ecosystems biodiversity 
climate change the use of energy land and water waste disposal 
and facility closures
this focus on environmental stewardship also delivers financial 
benefits for example by improving energy efficiency we not only 
reduce our environmental impact we also reduce our operating costs 
social wellbeing is another fundamental aspect of our approach 
to sustainable development this involves providing a safe and 
healthy workplace in which people treated with fairness and 
decency at all times can develop their full potential
and going beyond the workplace our idea of social wellbeing extends 
to our neighbours with them we seek long term partnerships 
characterised by the mutual respect that leads to trust
however good intentions are never enough so for us strong 
governance systems are a vital part of putting sustainable 
development into practice these systems ensure that we continue 
to manage our business with openness and accountability
values
our reputation stems from our four core values which define the 
essence of who we are and who we will be accountability respect 
teamwork and integrity
the first of these values – accountability – is about taking ownership 
of our performance and decisions and the impact that they have 
on the business we also support the accountability that others 
have in their own areas of work
we demonstrate respect through our approach to sustainable 
development and by recognising our people’s contributions to the 
business we care for each other’s health safety and wellbeing
by working as a team we can focus our collective efforts on where 
they deliver the best outcome for the group we believe good team 
members trust in the commitment and capability of others
and finally we work with integrity treating all our stakeholders 
with fairness honesty and openness 18 rio tinto 2010 annual report
group strategy
striving for global sector leadership
our strategy
how rio tinto is achieving its vision creating and preserving value and exercising  
its strategic advantage
the way we work governance sustainable development values
our vision and how we will achieve it
our vision is to become the sector leading global mining and 
metals company 
as we work to achieve this vision we will maximise shareholder 
return by sustainably finding developing mining and processing 
natural resources
we will do this through a strategy of investing in and operating 
large long term cost competitive mines and businesses driven not 
by choice of commodity but by the quality of each opportunity
rio tinto’s diverse portfolio includes some of the world’s best  
assets the high calibre of our people our expertise in exploration 
technology innovation and marketing and our commitment to 
sustainable development have given us a proven track record 
in successful project execution and operational excellence we 
believe these qualities and achievements position us well for 
becoming the global leader in our sector
as a highly capable organisation with global reach we believe 
we are well placed to respond to rising demand for metals and 
minerals which is being driven strongly by emerging economies 
the breadth and scale of our business means that we can supply 
key metals and minerals needed by worldwide markets at various 
stages of their economic development from the raw materials 
needed for basic infrastructure to the products needed to 
manufacture hitech consumer goods
effective procurement and supply integration across our group 
helps ensure we run an efficient supply chain maximising 
production across our products to meet customer needs with 
reliability of supply
the way we work is equally important to achieving our vision as 
we integrate sustainable development practices into everything 
we do wherever we operate building on improvements to health 
and safety performance and extending leadership in areas such 
as community and government engagement biodiversity and 
management of land carbon energy and water
success in these areas helps strengthen our licence to operate 
we are recognised as a socially responsible developer and one 
that builds strong relationships that bring lasting benefits to our 
neighbours and to the places where we work our approach gives 
us improved access to land people and capital – all of which are 
essential to our future success 
collectively our strengths provide us with our strategic advantage 
and this advantage is allowing us to meet responsibly the needs of 
a wide variety of customers while generating superior returns for  
our shareholders
strategic drivers
five strategic drivers help us achieve the group’s strategy 
financial and operational excellence
we have a group wide focus on financial and operational excellence 
which involves constantly improving safety productivity operational 
efficiency and cost control at every stage of our business 
many of our assets already operate in the first or second quartile 
of their industry cost curves and we continue to seek operating 
and cost efficiencies by identifying and implementing leading 
practices across the group 
a few of our assets are higher cost we aim to transform these 
businesses into more competitive performers for instance by 
introducing new technologies by gaining efficiencies through 
incremental volume enhancements or through more effective 
procurement practices we continually review our portfolio to 
ensure that all assets are a good strategic fit with our business
our focus on financial performance also includes the prudent 
management of our balance sheet to achieve and maintain a 
single a credit rating a strong balance sheet provides greater 
resilience against volatility in the global economy and the effect 
this might have on short term commodity prices 
by operating our own mines we are able to take advantage of 
performance improvement initiatives generated by our own 
employees – people who genuinely understand the facilities 
where they work 
in all of our operations we have a relentless focus on safety leadership 
our aim is to create an environment in which all employees and 
contractors have the knowledge skills and desire to work safely so 
that everyone goes home safe and healthy at the end of each day 
strategy
to invest in and operate large long term cost competitive mines 
and businesses driven not by choice of commodity but rather  
by the quality of each opportunity
vision 
to become the sector leading global mining  
and metals company wwwriotintocom 19
overview performance
production reserves 
and operations governance financial statements additional information
licence to operate
rio tinto aspires to be the industry partner of choice in working 
with governments joint venture participants communities 
customers and other stakeholders
our group wide values of accountability respect teamwork and 
integrity guide our approach we are recognised for building 
mutually beneficial relationships with our stakeholders based 
on active partnership and long term commitment we are also 
regarded as a company that brings long term benefits to our local 
communities and host countries our strong reputation in these 
areas is a source of significant strategic advantage 
more widely we are continuing to improve relations with local  
regional and national governments key to successful mineral 
development is a culture of trust transparency and mutual benefit  
to all parties this is established through honest engagement with 
all stakeholders including governments and local communities 
equally important is our determination to minimise the group’s 
environmental footprint particularly when it comes to carbon 
water and biodiversity 
we are refreshing our approach to sustainable development to ensure  
it remains focused on the social environmental economic and  
governance risks most relevant to delivering our business strategy 
by building relationships with our stakeholders and by applying 
risk analysis and management effectively throughout our business  
we can create opportunities out of external challenges and extend  
our licence to operate
growth
we believe the first and best use of our strong balance sheet and 
cash flows is to invest in our strong pipeline of organic growth 
opportunities our strategy prioritises growth that adds value to 
our business either through increased production capacity or  
through extended mine life the adherence to our strategy over  
the years has resulted in a succession of valuecreating investment 
decisions which in turn have led to superior long term performance 
we have a very strong pipeline of organic growth projects and a 
resource and mineralisation position that allows sustainable long 
term growth our projects include brownfield expansions and new 
greenfield projects in many cases our opportunities to expand 
are the consequence of wise investment decisions made years ago
many of our greenfield opportunities are in regions where we 
do not have a long established presence but our proven ability 
to develop operations in new countries in a responsible and 
sustainable manner allows us to gain stakeholder buyin
we also review opportunities to add shareholder value through  
small to medium sized acquisitions or other business combinations  
we have a strict valuefocused approach to mergers and acquisitions 
and seek opportunities that will give us entry to tier 1 assets
all growth opportunities are assessed using our rigorous investm ent  
approval process based on detailed modelling of discounted cash 
flows and are subject to comprehensive internal but independent 
reviews only the best projects that are expected to deliver value 
over the long term are approved
globalising the business
the global spread of our operations is one of the group’s greatest 
advantages and also gives us access to a wide range of markets 
as the group expands in terms of both size and geography we are  
working to build a more diverse engaged agile and flexible workforce  
– one that reflects our growth potential and one that is capable of 
reacting quickly to changing market opportunities and challenges 
helping to develop the talent of our employees in emerging markets  
and providing them with continued growth opportunities will  
help ensure that we have future leaders that reflect the increasingly 
diverse regions and cultures in which we operate through our 
scholarship and bursary programmes and by offering internships 
and summer placements we reach out to and encourage our 
future leaders during their academic lives 
strategic drivers
five strategic drivers are helping us deliver our strategy  
and achieve our vision
 financial and operational excellence
 licence to operate
 growth
 globalising the business
 technology and innovation
key performance indicators
achievement of our strategy and goals is measured 
by a mixture of financial and non financial 
performance indicators some of which are  
linked to executive remuneration
 more information on p22 20 rio tinto 2010 annual report
group strategy continued
technology and innovation
innovative technologies will lead to dramatic improvements  
in our operating business and the way we develop new mines  
these technologies can also put us ahead of the competition 
an example of this is rio tinto’s mine of the future™ programme 
which we believe will deliver heightened efficiencies in terms of 
both production and costs as well as a safer working environment  
with reduced impact on the environment
mine of the future™ involves collaborative partnerships with leading  
universities and equipment producers to expand the potential of 
automation and remote operations 
such advances have enabled the opening of the perth operations 
centre from which rio tinto people can control iron ore mining 
and infrastructure at our pilbara operations more than  
1000km away
another key focus of group innovation is underground tunnelling 
and shaft sinking at our northparkes copper and gold mine in 
australia we will test a system designed to allow us to excavate at 
more than double the rate of conventional methods success there 
will enable us to apply the technology for the next generation 
of block cave mines this will increasingly be a strategic 
differentiator as future ore deposits especially copper are often 
located at deeper depths 
delivering our strategy –  
adding value across the cycle
we create and preserve value through 
investing in and operating large scale  
long term cost competitive mines  
and businesses the nature of our  
business means that the lifecycle of  
an orebody may last for many decades 
throughout the life of a business from 
initial exploration to final closure and 
restoration we commit to the highest 
standards of sustainable development
explore and evaluate
rio tinto has an experienced inhouse exploration team with a 
proven track record for the discovery of tier 1 orebodies in addition 
to exploration we create value through expansions and extensions 
of existing assets rio tinto’s orebody knowledge process allows us 
to evaluate value enhancing approaches to developing operating 
and growing our resources 
 more information on page 62
develop
rio tinto develops orebodies with long term value delivery in 
mind following the discovery of a resource it must be thoroughly 
studied to identify the optimal configuration for development of 
the orebody and delivery of the product to the market as studies 
are undertaken economic modelling confirms value once we 
have obtained internal and external approvals the project moves 
to implementation and construction
investing
bunder india
analysing drill core samples at the diamond project in madhya pradesh
oyu tolgoi mongolia
mine shaft construction at the coppergold mine wwwriotintocom 21
overview performance
production reserves 
and operations governance financial statements additional information
the group takes the threat of climate change seriously technological 
advances are enabling us to improve the efficiency of our aluminium 
smelting facilities while lowering their carbon output we are also 
looking into the potential benefits of widespread carbon capture 
and sequestration
in the long term our commitment to technology and innovation 
should have a positive impact in attracting new employees to the 
group and should help us supply a wider range of customers and 
markets more sustainably than ever
key performance indicators
rio tinto uses a number of key performance indicators kpis to 
monitor our financial and non financial performance
these kpis are a measure of how well we are achieving our strategy  
and they link clearly to our strategic drivers
our kpis give senior management a means to evaluate the  
group’s overall performance in operations growth and 
sustainable development they provide managers and their  
teams with clarity and focus on areas critical to our success
the kpis also give guidance to the remuneration committee in 
framing our remuneration policy some of the kpis are directly 
linked to executive remuneration
 see p22 for more information on our kpis 
mine
rio tinto moves millions of 
tonnes of material every day  
we have world class technologies 
and processes to plan operate 
and maintain our mining 
equipment and activities 
process
our leading proprietary 
technologies such as that for 
aluminium smelting ensure that 
recoveries are maximised and 
our processes are as efficient as 
possible we produce material  
that is of the right quality for  
our customers
market
we sell our products directly to 
our customers the end users we 
seek out long term partnerships 
to maximise product value and 
constantly create new products 
that add further value
deliver
in many cases rio tinto is 
responsible for delivering 
finished product to our 
customers we do this in a 
variety of ways efficiently 
reliably and cost effectively
operate
rio tinto creates value through operating its large long term 
cost competitive assets safely and efficiently as a capable global 
organisation we employ standard operating and maintenance 
practices across the group and invest in our world class assets 
throughout their lifecycles an efficient process reduces the use of 
consumables increases equipment operating time and optimises 
the extraction of ore – all of which results in higher production 
levels reduced costs and optimisation of value
 more information on page 42
close down and restore
when a resource reaches the end of its life we are committed to  
high standards of close down and restoration integrating closure 
planning in the early stages of project development and through  
an asset’s lifecycle helps us to leave a positive legacy of sustainable  
development minimise financial impacts and ensure stakeholder  
expectations are met our closure standard covers the design 
development operation and closure of all our operations 
 more information on page 40
operating
barneys canyon us
rehabilitating waste rock dumps into a wildlife habitat
world class assets
iron ore loading facility  
western australia
leading technologies
operations centre in perth 
western australia
global presence 
serving customers worldwide
infrastructure network 
transporting products from 
mine to market 22 rio tinto 2010 annual report
key performance indicators
measuring our performance
relevance to  
strategic drivers
our commitment to zero harm means 
that the aifr is one of the group’s most 
important non financial kpis safety 
is a leading indicator of management 
performance it is central to our focus on 
operational excellence and our licence 
to operate a reputation for being a safe 
employer and neighbour helps us to gain  
access to the people and resources we need 
underlying earnings is a measure that 
provides insight into the underlying 
business performance of the group’s 
operations and is the key financial 
performance indicator used across the 
group this kpi provides insight to cost 
management performance efficiency 
and production growth it is therefore an 
indicator of financial and operational 
excellence and growth
tsr measures the group’s performance 
in terms of shareholder wealth generation  
through dividends and changes in the 
share price as a measure of how we 
maximise shareholder return this kpi 
measures our performance against  
our strategy as a whole relative tsr is 
also monitored which gives insight into 
our performance against our peers
definition
aifr is calculated based on the number 
of injuries per 200000 hours worked 
this includes medical treatment cases 
restricted work day and lost day injuries 
for employees and contractors
items excluded from net earnings  
to arrive at underlying earnings are 
explained in note 2 of the 2010  
financial statements
tsr combines share price appreciation 
and dividends paid to show the total 
return to the shareholder
performance
our aifr has improved 39 per cent over 
the last five years with an 18 per cent 
improvement from 2009
underlying earnings in 2010 of 
us13987 million were us7689 million 
above the comparable measure for 2009 
this was largely due to the strong recovery 
in prices during the year
the group’s average total shareholder 
return for the year ended 31 december 
2010 was 326 per cent reflecting a 
combination of strong commodity 
markets and excellent operational 
performance these translated into 
higher operating cashflows which 
together with divestment proceeds 
enabled the group to pay down  
us146 billion of debt during the  
year and pay dividends totalling  
us18 billion
 more information on p31 more information on p250 more information on p137
kpi trend data
the group’s performance 
against each kpi is covered 
in more detail in later 
sections of this annual 
report explanations of the 
actions taken by management 
to maintain and improve 
performance against each  
kpi support the data
kpis used as a key measure  
in the remuneration of 
executives are identified  
with this symbol 
  see the remuneration report  
on p128
including former alcan
2006 2007 2008 2009 2010
109
081
066
121
095
2006 2007 2008 2009 2010
7338 7443
6298
13987
10303
2006 2007 2008 2009 2010
74
928
1728
326
715
all injury frequency 
rate aifr
per 200000 hours worked
underlying earnings
 a b
 
us millions
total shareholder 
return tsr

our key performance indicators kpis give us a means to measure our financial and 
sustainable development performance their relevance to our strategic drivers and our 
performance against these measures in 2010 is explained on these pages
notes
a  the accounting information in these charts is drawn up in accordance with eu ifrs
b  underlying earnings is the key financial performance indicator which management  
uses internally to assess performance it is presented here a measure of earnings to 
provide greater understanding of the underlying business performance 
of the group’s operations items excluded from net earnings to arrive at underlying earnings 
are explained in note 2 to the 2010 financial statements both net earnings and underlying 
earnings deal with amounts attributable to the owners of rio tinto however eu ifrs 
requires that the profit for the year reported in the income statement should also include 
earnings attributable to noncontrolling interests in subsidiaries wwwriotintocom 23
overview performance
production reserves 
and operations governance financial statements additional information
a strong balance sheet gives us resilience 
in a volatile global economy net debt 
is a measure of how we are managing 
our balance sheet and capital structure 
and is closely linked to our financial and 
operational excellence strategic driver
our capital expenditure kpi connects to 
our growth strategic driver it measures 
our level of investment in protecting and 
maintaining our existing assets as well 
as our investment in the growth projects 
that will be our future tier 1 operating 
assets the geographic distribution of our 
capital expenditure is also a measure of 
how we are globalising the business
operating cash flow is a complementary 
measure to underlying earnings it is 
employed as a measure of business 
performance and links to two of our 
strategic drivers growth and financial 
and operational excellence
we use greenhouse gas ghg emissions 
intensity as a kpi because of the urgent 
need for climate action and because 
it is one of the most widely recognised 
environmental issues the kpi links to 
our licence to operate and our technology 
and innovation work which are key 
drivers of our strategy
net debt is calculated as the net total of 
borrowings cash and cash equivalents 
other liquid resources and derivatives 
related to net debt
capital expenditure comprises the net 
cash outflow on purchases less disposals 
of property plant and equipment  
capitalised evaluation costs and 
purchases less disposals of other 
intangible assets
operating cash flow represents the cash 
generated by the group’s operations 
before payment of interest taxes capital 
expenditure and cash flows relating 
to financing activities the measure 
is equivalent to “cash flows from 
operations” in the group cash  
flow statement
our ghg emissions intensity measure is 
the change in total ghg emissions per 
unit of commodity production relative to a 
base year total ghg emissions are direct 
emissions plus emissions from imports 
of electricity minus electricity and steam 
exports and net carbon credits purchased 
from or sold to recognised sources
during 2010 net debt decreased from 
us189 billion to us43 billion due to 
strong operating cash flows and proceeds 
from the divestment programme net 
debt to total capital was significantly 
reduced to 62 per cent at 31 december 
2010 compared with 291 per cent at  
31 december 2009
capital expenditure was us4553 
million in 2010 a decrease of us803 
million from 2009 capital expenditure 
included the brockman 4 iron ore mine 
development in western australia 
the expansion of the yarwun alumina 
refinery the commissioning of the 
clermont coal mine and the extension 
and expansion of the kestrel coking  
coal mine
operating cash flows including dividends 
from equity accounted units were 
us23530 million 70 per cent higher 
than 2009 primarily as a consequence  
of higher commodity prices
since 2008 our ghg emissions intensity 
has reduced by 37 per cent this is largely  
a result of the ningxia aluminium smelter  
divestment in 2009 the impact of closure  
or reduced production at older aluminium 
smelters that had low ghg emitting power  
sources offset some intensity reductions 
achieved during 2009
 more information on p199 more information on p252 more information on p159 more information on p34
2006 2007 2008 2009 2010
2437
45191
18861
4284
38672
2006 2007 2008 2009 2010
3988
4968
5356
4553
8488
dividends from equity accounted units
cash flow from consolidated operations
2006 2007 2008 2009 2010
9196
10923
10805
12569
13224
13834
23530
22126
19195
20668
including former alcan
2006 2007 2008 2009 2010
1109
925
963
1000
1102 1113
net debt 
a
us millions
capital expenditure 
a c
us millions
operating cash flows
 a
us millions
ghg emissions intensity
indexed relative to 2008
notes
c  amounts include 100 per cent of subsidiaries’ capital expenditures and rio tinto’s share 
of the capital expenditure of equity accounted units 24 rio tinto 2010 annual report
the group is committed to the effective management of risk through 
proactive competent risk management effective risk management 
requires quality risk analysis to inform the decisions taken throughout 
the organisation the responsibility for identifying and managing risks 
lies with rio tinto’s managers and business leaders risk analysis and 
management is applied to all facets of the business by management 
at appropriate levels following the principles set out in the group’s 
risk policy and standard 
this standard sets out a uniform process that each area within  
the group is required to follow in analysing and managing risk  
the process reflects global leading practice and contains the 
minimum requirements to ensure consistency and quality across  
the group by providing an overall methodology and structure for  
the handling of risk within the organisation the group seeks to 
provide the board and senior management with a consistent  
group wide perspective of the key risks reports are submitted  
to the board twice per year and include assessment of the  
likelihood and impact should risks materialise along with  
risk management initiatives
during the year a review of the group’s approach to managing  
risk resulted in the introduction of a new risk management  
committee and the appointment of a new head of group risk  
the risk management committee is chaired by the chief executive  
and reports to the executive committee
the group provides a central organisation to support the risk  
standard and wider process see below
risk management overview
rio tinto recognises that risk is an integral component of its business and that 
it is characterised by both threat and opportunity  the group fosters a risk aware 
corporate culture in all decision making through skilled application of high quality 
integrated risk analysis and management we manage risk in order to enhance 
opportunities and reduce threats and so sustain competitive advantage
risk management
managing risk effectively
overview of rio tinto’s risk management process
corporate oversight
provide risk insight and monitoring  
to key business decisions 
functional business support
provide risk support functional expertise and risk 
specific standards 
business evaluation
technical evaluation
economics 
finance 
human resources
risk owners
accountability and responsibility for effective risk identification 
and management
copper
aluminium
iron ore
diamonds  minerals
energy
exploration
project development
corporate 
group risk
health safety environment
legal and compliance
insurance
community
security
external affairs
other 
board
group assurance
executive committee
risk management committee
group risk 
responsible for risk reports providing risk support to operations maintaining appropriate risk policy  
and standard and providing coordination of group wide risk management activity wwwriotintocom 25
overview performance
production reserves 
and operations governance financial statements additional information
principal risks and uncertainties
risk factors
rio tinto’s business units and functions assess the potential economic and non economic consequences of their respective risks using  
a predefined framework provided by the group’s risk policy and standard principal risks and uncertainties are identified when the risk  
management committee business unit or function determines that the potential consequences are of sufficient materiality to be 
considered significant at a group level or where the risk triggers a succession of events that in total become material at a group level 
once identified each principal risk and uncertainty is reviewed by the relevant internal experts and the risk management committee
the following describes all known principal risks and uncertainties that could materially affect rio tinto there may be additional 
risks unknown to rio tinto and other risks currently believed to be immaterial which could turn out to be material these risks 
whether they materialise individually or simultaneously could significantly affect the group’s business and financial results the risks 
outlined below omit detail on how each is managed and mitigated or how some risks could result in either a positive upside or negative 
downside impact an explanation of the group’s process for managing these and all other risks to which it is exposed is given in 
the section entitled risk management on page 24 the principal risks and uncertainties should be considered in connection with any 
forward looking statements in this document and the cautionary statement on the inside front cover
external
commodity prices and global 
demand for the group’s products 
are expected to remain 
uncertain which could affect 
the group’s business
commodity prices and demand for the group’s products are cyclical and strongly influenced by 
world economic conditions particularly with respect to key customers in the us and asia notably 
china there is potential volatility in short to medium term commodity prices due to persistent 
economic imbalances the group’s normal policy is to sell its products at prevailing market prices 
and not to enter into price hedging arrangements the recent improvement in commodity prices 
and demand for the group’s products may not remain as strong which would have an impact on 
group revenues earnings cash flows asset values and growth
continued growth in demand 
for the group’s products in 
china could be affected by 
future developments in  
that country
the group has signed agreements with almost 50 per cent of its iron ore customers in asia for 
pricing on a quarterly basis this is a shift away from the previous annual benchmark pricing  
sales are being made to other iron ore customers on the same basis 
if a major economic downturn were to occur in china impacting the demand and price for iron ore 
or the group’s other products or if chinese customers source such products from elsewhere the 
group’s business financial condition and prospects could be affected
rio tinto is exposed to 
fluctuations in exchange  
rates that could affect its 
overall business results
the us dollar is the currency in which the great majority of the group’s sales are determined it is 
also the most appropriate currency for holding surplus cash financing its operations and presenting 
its external and internal results although many costs are incurred in us dollars significant costs 
are influenced by the local currencies of the countries where the group operates principally 
the australian dollar canadian dollar and euro the group’s normal policy is to avoid hedging 
arrangements relating to changes in foreign exchange rates appreciation in the value of these 
currencies against the us dollar or prolonged periods of exchange rate volatility may adversely 
affect the group’s business results
political legal and commercial 
changes in the places where 
the group operates could affect 
the group’s reputation future 
development opportunities 
andor the viability of 
its operations
the group has operations in jurisdictions with varying degrees of political legal and commercial 
stability commercial instability in some jurisdictions can be influenced by bribery and corruption 
in their various guises political and administrative change policy reform and changes in law 
or government regulation can result in expropriation or nationalisation renegotiation or 
nullification of existing agreements leases and permits changes in fiscal policies including 
increased taxes or royalty rates changes in government ownership of operations currency 
restrictions increased regulation and significantly increased costs or impediments to operation are 
also possible consequences such consequences could have an adverse effect on the profitability 
the ability to finance or in extreme cases the viability of an operation
political instability and uncertainty or government changes to the fiscal terms covering the group’s 
operations may discourage future investments in certain jurisdictions this may have an adverse 
impact on the group’s ability to access new assets potentially reducing future growth opportunities
community disputes in the 
countries and territories in 
which the group operates 
could affect the viability of its 
operations or its reputation
some of the group’s current and potential operations are located in or near communities that may 
regard the operation as being detrimental to their environmental economic or social circumstances 
community expectations are typically complex with the potential for multiple inconsistent stakeholder 
views that may be difficult to resolve stakeholder opinion and community acceptance can be impacted 
by external events beyond the group’s control including events that may occur in related industries 
or similar operations outside of the group and events relating to the local regional or national affairs 
of the places where the group operates furthermore our operations may be a focus for civil unrest 
or criminal activity community reaction could have an adverse impact on the cost profitability and 
ability to finance or even the viability of an operation such events could lead to disputes with national 
or local governments or with local communities and give rise to reputational damage if the group’s 
operations are delayed or shut down as a result of political and community instability its revenue 
growth may be constrained and the long term value of its business could be adversely impacted 26 rio tinto 2010 annual report
principal risks and uncertainties continued
the group’s land and resource 
tenure could be disputed 
resulting in disruption to the 
operation or development of  
a resource
the group operates in several countries where title to land and rights in respect of land and 
resources including indigenous title may be unclear and may lead to disputes over resource 
development such disputes can be protracted and costly to resolve could disrupt or delay relevant  
mining projects impede the group’s ability to develop new mining properties and may have an 
adverse effect on the group’s results of operations or its prospects
changes in the cost andor 
interruptions in the supply of 
energy water fuel or other key 
inputs could adversely affect  
the economic viability of the 
group’s operations
the group’s operations are resource intensive and as a result its costs and net earnings may be 
adversely affected by the availability or cost of energy water fuel or other key inputs if the prices 
of key inputs rise significantly more than expected or if the group experiences interruptions in 
or constraints on its supply of key inputs the group’s costs could increase and its results could be 
adversely affected
strategic
the group’s business and growth 
prospects may be negatively 
affected by reductions in its 
capital expenditure programme
the group requires substantial capital to invest in greenfield and brownfield projects and to extend  
the life and capacity of its existing operations if significant variations in commodity prices or  
demand for its products occurs the group may reduce its capital expenditure which may negatively  
impact the timing of its growth and future prospects
with the volatility of the commodity markets the group’s ability to benefit from improvements 
may be constrained by earlier capital expenditure restrictions and the long term value of its 
business could be adversely impacted
the group’s exploration and 
development of new projects 
might be unsuccessful 
expenditures may not be fully 
recovered and depleted ore 
reserves may not be replaced
the group develops new mining properties and expands its existing operations as a means of 
generating shareholder value the group seeks to identify new orebodies and mining properties 
through its exploration programme and has also undertaken the development or expansion of 
other major operations exploration is not always successful moreover there is a high degree 
of competition for opportunities to develop such orebodies certain competitors have access to 
significant resources and may be motivated by political or other non economic factors the group 
may be unable to find willing and suitable joint venture partners to share the cost of developing 
large projects there is no assurance therefore that the group’s investment in exploration and 
project development will be recouped or that depleted ore reserves will be replaced
failure of the group to make 
or successfully integrate 
acquisitions or to complete 
divestment agreements  
could have an adverse effect  
on the business and results  
of operations
business combinations entail a number of risks including the effective integration of acquisitions 
including the realisation of synergies significant one time writeoffs or restructuring charges 
and unanticipated costs and liabilities the group may also be liable for the past acts omissions 
or liabilities of companies businesses or properties that it has acquired which may be unforeseen 
or greater than anticipated in addition the group may retain liabilities for divested entities if the 
buyer fails to honour all commitments
financial
the group’s reported results 
could be adversely affected  
by the impairment of assets  
and goodwill
an asset impairment charge may result from the occurrence of unexpected adverse events that 
impact the group’s expected performances in accordance with ifrs the group does not amortise 
goodwill but rather tests it annually for impairment such impairments cannot be reversed other 
long lived assets are tested when impairment indicators exist
the group will continue to test goodwill and may in the future record additional impairment 
charges this could result in the recognition of impairment provisions which are non cash items 
that could be significant and could have an adverse effect on the group’s reported results wwwriotintocom 27
overview performance
production reserves 
and operations governance financial statements additional information
operational
estimates of ore reserves are 
based on many assumptions 
and changes in the assumptions 
could lead to reported ore 
reserves being restated
there are numerous uncertainties inherent in estimating ore reserves including subjective judgments  
and determinations based on available geological technical contract and economic information 
assumptions that are valid at the time of estimation may change significantly when new information  
becomes available changes in the forecast prices of commodities exchange rates production costs  
or recovery rates may result in some reserves ceasing to be economically viable or others in becoming  
viable ultimately this may result in the reserves needing to be restated such changes in reserves 
could also affect depreciation and amortisation rates asset carrying values deferred stripping 
calculations and provisions for close down restoration and environmental clean up costs
labour disputes could lead 
to lost production andor 
increased costs 
some of the group’s employees including employees in non managed operations are represented 
by labour unions under various collective labour agreements the group may not be able satisfactorily 
to renegotiate agreements when they expire and may face tougher negotiations or higher wage 
demands in addition existing labour agreements may not prevent a strike or work stoppage  
which could have an adverse effect on the group’s earnings financial condition and reputation
some of the group’s technologies  
are unproven and failures could 
adversely impact costs andor 
productivity
the group has invested in and implemented information systems and operational initiatives 
including new technologies some aspects of these technologies are unproven and the eventual 
operational outcome or viability cannot be assessed with certainty the costs productivity value 
in securing business opportunities and other benefits from these initiatives and the consequent 
effects on the group’s future earnings and financial results may vary from expectations failure  
of the group’s technology systems to realise the anticipated benefits could result in increased  
costs interruptions to supply continuity failure to realise production or growth plans or some 
other adverse effect on operational performance
the group’s operations are 
vulnerable to natural disasters 
operating difficulties health 
safety or environmental 
incidents and infrastructure 
constraints not all of which  
are covered by insurance which 
could have an impact on its 
productivity and reputation
mining smelting and refining operations are vulnerable to natural events including earthquakes 
drought floods fire storms and the possible effects of climate change operating difficulties could 
be experienced such as unexpected geological variations that could result in significant ground 
or containment failure the group’s operations involve chemicals and other substances under 
high temperature and pressure with the potential for fire explosion or other loss of control of the 
process leading to a release of hazardous materials this could occur by accident or a breach of 
operating standards and could result in a significant incident any of these events could affect  
the group’s reputation and the costs and viability of its operations for indeterminate periods
the group has extensive health safety environment and community policies and standards in place 
despite these it remains possible that a health safety environment or community incident could 
occur that may adversely impact the group’s reputation earnings or cash flows
the group requires reliable roads rail networks ports power sources and power transmission facilities 
water supplies and information technology systems to access and conduct its operations the 
availability and cost of infrastructure affects capital and operating costs and the maintenance of 
planned levels of production and sales in particular the group transports a large proportion of its 
products by sea limitations or interruptions in rail or shipping capacity at any port including as 
a result of third parties gaining access to the group’s integrated infrastructure could impede the 
group’s ability to deliver its products on time this could have an adverse effect on the group’s 
business and results of operations
the group uses an extensive information technology system and infrastructure a significant failure 
of major parts of the system or malicious actions could result in significant interruption that could 
affect the group’s reputation and operating results
the group’s insurance does not cover every potential risk associated with its operations adequate 
coverage at reasonable rates is not always obtainable in addition the group’s insurance may not 
fully cover its liability or the consequences of any business interruptions such as weather events 
equipment failure or labour dispute the occurrence of a significant event not fully covered by 
insurance could have an adverse effect on the group’s business results of operations financial 
condition and prospects
the group may be exposed to 
major failures in the supply 
chain for specialist equipment 
and materials
rio tinto operates within a complex supply chain depending on suppliers of raw materials services 
equipment and infrastructure to ensure its mines and process plants can operate and on providers 
of logistics to ensure products are delivered failure of significant components of this supply chain 
due to factors such as business failure or serious operational factors could have an adverse effect 
on the group’s business and results of operations 28 rio tinto 2010 annual report
joint ventures and other 
strategic partnerships may not 
be successful and non managed 
projects and operations may 
not comply with the group’s 
standards which may adversely 
affect its reputation and the 
value of such projects and 
operations
the group participates in several joint venture arrangements and it may enter into further 
joint ventures although the group has sought to protect its interests existing and future joint 
ventures necessarily involve risks whether or not the group holds majority interests or maintains 
operational control in its joint ventures its partners may
 have economic or business interests or goals that are inconsistent with or opposed to those of the group
 exercise veto rights to block actions that the group believes are in its or the joint venture’s best interests
 take action contrary to the group’s policies or objectives with respect to its investments or
 be unable or unwilling to fulfil their obligations under the joint venture or other agreements 
such as contributing capital to expansion or maintenance projects
in addition failure of a joint venture partner may result in unanticipated losses to the group where 
projects and operations are controlled and managed by the group’s partners the group may provide 
expertise and advice but it has limited control with respect to compliance with its standards and 
objectives improper management or ineffective policies procedures or controls could adversely affect 
the value of related non managed projects and operations and by association damage the group’s 
reputation thereby harming the group’s other operations and access to new assets
sustainable development
increased regulation of 
greenhouse gas emissions could 
adversely affect the group’s 
cost of operations
rio tinto’s operations are energy intensive and depend heavily on fossil fuels there is increasing 
regulation of greenhouse gas emissions progressive introduction of carbon emissions trading 
mechanisms and tighter emission reduction targets in numerous jurisdictions in which the group 
operates these are likely to raise energy and production costs to a material degree over the next few 
decades regulation of greenhouse gas emissions in the jurisdictions of the group’s major customers 
and suppliers as well as in relation to international shipping could also have an adverse effect on the 
demand for the group’s products
the group depends on the 
continued services of key 
personnel
the group’s ability to maintain its competitive position and to implement its business strategy is 
dependent on the services of key engineering managerial financial commercial marketing and 
processing people loss or diminution in the services of key employees particularly as a result of 
an inability to attract and retain staff or the group not maintaining a competitive remuneration 
structure could have an adverse effect on the group’s business financial condition results of 
operations and prospects
competition for experienced people with international engineering mining metallurgy and geological 
expertise is high due to a small pool of individuals against medium to high demand this may affect  
the group’s ability to retain its existing senior management marketing and technical personnel and  
to attract qualified personnel on appropriate terms similar competition may be felt by the group’s  
key contractors and equipment suppliers that in turn could affect the group’s expansion plans
the group’s costs of close 
down restoration and 
rehabilitation could be 
higher than expected due 
to unforeseen changes in 
legislation standards and 
techniques or underestimated 
costs
close down and restoration costs include the dismantling and demolition of infrastructure and the 
remediation of land disturbed during the life of mining and operations estimated costs are provided  
for over the life of each operation and updated annually but the provisions might prove to be inadequate 
due to changes in legislation standards and the emergence of new restoration techniques furthermore 
the expected timing of expenditure could change significantly due to changes in commodity prices 
that might curtail or extend the life of an operation total provisions at 31 december 2010 amounted 
to us8602 million as set out in note 27 to the financial statements these provisions could prove 
insufficient compared to the actual cost of restoration or the cost of remediating or compensating for 
damage beyond the site boundary  any underestimated or unidentified close down restoration and 
environmental rehabilitation costs could have an adverse effect on the group’s reputation as well  
as its asset values earnings and cash flows
health safety environment 
and other regulations 
standards and stakeholder 
expectations evolve over time 
and unforeseen changes could 
have an adverse effect on the 
group’s earnings cash flows 
and reputation
rio tinto operates in an industry that is subject to numerous health safety and environmental laws 
regulations and standards as well as community and stakeholder expectations the group is subject  
to extensive governmental regulations in all jurisdictions in which it operates operations are subject to 
general and specific regulations governing mining and processing land tenure and use environmental 
requirements including site specific environmental licences permits and statutory authorisations 
workplace health and safety social impacts trade and export corporations competition access 
to infrastructure foreign investment and taxation some operations are conducted under specific 
agreements with respective governments and associated acts of parliament but unilateral variations 
could diminish or even remove such rights furthermore community and stakeholder expectations 
change over time evolving regulatory standards and stakeholder expectations can result in litigation 
andor increased costs or in extreme cases threaten the viability of an operation this may impact on 
the reputation of the group including in circumstances where the underlying issue is not material to 
the group all of these matters may have an adverse effect on earnings and cash flows
principal risks and uncertainties continued wwwriotintocom 29
overview performance
production reserves 
and operations governance financial statements additional information
our approach to sustainable development creates competitive advantage 
it helps us deliver better return for our shareholders manage risk effectively 
reduce environmental impacts cut operating costs attract high calibre 
employees and provide more business opportunities
 view more about our approach to sustainable development at wwwriotintocomourapproach
key achievements 
 our all injury frequency rate continued to improve with an  
18 per cent reduction achieved in 2010
 sixty seven per cent of the electricity we used in 2010 was  
from low carbon sources mainly hydroelectricity
 we remained the largest private sector employer of  
indigenous australians
 we entered into formal partnerships with the international union for 
conservation of nature and the danish institute of human rights
 we retained our listing on the ftse4good dow jones sustainability 
indexes and carbon disclosure leadership index 
key priorities 
 refresh our approach to sustainable development to ensure it 
remains focused on the social environmental economic and 
governance risks most relevant to delivering our business strategy
 continue to reduce incident and injury rates toward our goal of zero
 identify and prioritise management of emerging health risks 
 improve the diversity of our workforce
 maintain our energy use and ghg emission reduction programmes
 realise the potential for carbon water and biodiversity offsets on our 
non operational landholdings
sustainable development overview
sustainable 
development
 
 
 
water
health
land
stakeholder
engagement
business
resilience 
recovery
business
integrity
human
rights
 
our people
energy use
gas and
greenhouse
communities
and regional
development
 
 
safety
closure
biodiversity
        economic prosperity
governance systems
      social wellbeing
environmental stewardship
financial
performance
suppliers
product
stewardship
non managed
operations
and projects
materiality assessment
we continue to build on our materiality assessment methodology to 
ensure this report remains focused on our most significant sustainable 
development issues
our process was developed in line with the global reporting initiative 
gri guidance wwwglobalreportingorg it involves identification and 
prioritisation of issues affecting our business and its stakeholders 
over the next three years
in 2010 we expanded our assessment to include outcomes of 
interviews with key shareholders investment houses academics 
and non governmental organisations along with the opinions 
of 1265 global leaders who were surveyed as part of our 
stakeholder engagement work and 33000 employees who 
completed our global employee engagement survey 
whilst our materiality assessments have supported reporting 
on consistent topics in recent years the 2010 assessment 
prompted additional coverage of our business resilience  
and recovery programme 
performance data for a selection of our most material sustainable 
development issues are subject to external assurance we also 
discuss financial performance safety and greenhouse gas  
emissions in the product group sections of this report
omission from the issues covered in our report does not mean that  
the issue is not managed by the company please see our website  
for additional information 
sustainable development review
central to the way we work 30 rio tinto 2010 annual report
sustainable development review continued
goals and targets trend progress to date
our safety goal is zero injuries and zero fatalities 
progress is measured through our all injury frequency 
rate aifr per 200000 hours worked 
18 per cent reduction in our all injury frequency rate 
compared with 2009 
30 per cent reduction in the rate of new cases of 
occupational illness per 10000 employees between  
2008 and 2013
56 per cent reduction in the rate of new cases of occupational 
illness compared with 2008 
ten per cent reduction in the rate of employees per 
10000 employees exposed to an eight hour noise dose of 
more than 85 decibels between 2008 and 2013
03 per cent increase in the rate of employees potentially 
exposed to an eight hour noise dose of more than 85 decibels 
compared with 2008
six per cent reduction in total greenhouse gas emissions 
intensity between 2008 and 2013 we are also targeting 
a further four per cent reduction by 2015 to deliver an 
overall ten per cent reduction
37 per cent reduction in our total greenhouse gas emissions 
intensity compared with 2008
six per cent reduction in our freshwater use per tonne  
of product between 2008 and 2013
23 per cent increase in our freshwater use per tonne of 
product compared with 2008
our diversity goal is to employ people based on job 
requirements that represent the diversity of our 
surrounding communities
we are targeting
 women to represent 20 per cent of our senior 
management by 2015
 women to represent 40 per cent of our 2015  
graduate intake
 15 per cent of our 2015 graduate intake to be nationals 
from regions where we are developing new businesses
 
 
 women represented 14 per cent of our senior management 
in 2010
 women represented 27 per cent of our 2010 graduate intake 
 eight per cent of our 2010 graduate intake were nationals 
from regions where we are developing new businesses
all operations have in place locally appropriate publicly 
reported social performance indicators that demonstrate 
a positive contribution to the economic development of 
the communities and regions where we work consistent 
with the millennium development goals by 2013
we collected data for the first time in 2010
20 per cent of our operations had locally appropriate publicly 
reported social performance indicators in place in 2010
 improving performance declining performance new target
performance data
our sustainable development performance data are reported for 
calendar years and unless otherwise stated represent 100 per 
cent of the parameter at each managed operation even though 
rio tinto may have only partial ownership
data reported in previous years may be modified if verification 
processes detect material errors or if changes are required to 
ensure comparability over time
wherever possible data for operations acquired prior to 1 october 
of the reporting period are included divested operations are 
included in data collection processes up until the transfer of 
management control
we report in line with the gri g3 guidelines at application level 
a and have implemented the international council on mining 
and metals’ icmm sustainable development framework  
wwwicmmcom
further information on our data definitions our gri checked 
report and our alignment with the icmm sustainable development 
principles and supporting position statements can be found on 
our website  wwwriotintocom 31
overview performance
production reserves 
and operations governance financial statements additional information
our approach
 
 group strategy on p18
sustainable development has been identified as an area crucial to 
the delivery of the group’s long term strategy
the minerals and metals produced at our operations contribute to  
society’s needs delivering financial dividends for our shareholders  
paying wages and salaries for our employees and creating wealth 
to support community infrastructure health care and education 
our activities also provide the means and opportunity to develop 
new approaches to the environmental and human development 
challenges confronting society such as climate change and poverty
we recognise that some aspects of our activities can lead to 
unavoidable impacts such as limiting options for the future use 
of land and water impacts on local communities and greenhouse 
gas emissions from our operations and the use of our products 
we strive to minimise these impacts through good management 
of our operations
the extended timeframes associated with our operations from 
exploration through development and operation to closure 
provide us with opportunities to plan implement and deliver 
sustainable contributions to social wellbeing environmental 
stewardship and economic prosperity within our strong 
governance systems
our continued licence to operate is subject to the ever increasing 
expectations of society consequently we have developed and 
implemented a structured framework to ensure that we meet 
our goal of contributing to the global transition to sustainable 
development this framework contains the “must have” 
building blocks which must all work together to achieve leading 
performance and manage risk effectively 
we are communicating and raising our awareness of our approach 
to our internal and external stakeholders
in 2010 we commenced a review of our approach to sustainable 
development to ensure it remains focused on the risks most 
relevant to delivering our business strategy
social wellbeing 
 read more in the “our approach” section of wwwriotintocom
prosperity
 
economic
stewardship
 
environmental
governance 
systems
social 
wellbeing
we are committed to providing a 
safe and healthy workplace for our 
employees where their rights and 
dignity are respected we set out to 
build enduring relationships with our 
neighbours that demonstrate mutual 
respect active partnership and long 
term commitment
safety
we are progressing on our journey toward a zero harm culture 
where everyone knows that they make a difference and where all 
employees and contractors have the knowledge competence and 
desire to work safely we believe that all injuries are preventable 
and our goal is to achieve zero injuries and zero fatalities
regrettably three people were fatally injured whilst working at  
rio tinto managed operations in 2010 these events occurred 
at the iron ore company of canada as a result of a fall from 
height at the alcan packaging plant in indonesia as a result of 
an electric shock and at the alcan engineered products neuf 
brisach operation in france as a result of being struck by a falling 
object we provided support and counselling to the families and 
workmates affected by these events and we have shared the 
lessons from these and other serious incidents across the group
we measure progress toward our goal of zero injuries through  
the all injury frequency rate aifr which includes data for 
employees and contractors at the end of 2010 our aifr was  
066 an improvement of 18 per cent over the last year our  
lost time injury frequency rate has also improved and was  
036 per 200000 hours worked in 2010
lower injury rates do not mean that serious incidents will  
not occur we use significant potential incident reporting and 
remedial action closure measures to promote identification 
investigation management and sharing of lessons learnt from 
minor and near miss events with potentially fatal consequences 
these metrics are linked to remuneration
higher consequence lower frequency safety events are managed 
through targeted process safety reviews and use of our semi 
quantitative risk assessment sqra process the risk reduction 
resulting from the sqra process is used as a group wide leading 
indicator for safety performance 
sustainable development framework
targets
achieve 
leading 
performance
effectively 
manage 
risks 
indicators 
 metrics
monitoring  reporting
management systems
leadership  accountability
strategies  standards
policies
the way we work
2006 2007 2008 2009 2010
109
121
095
081
066
all injury frequency rate
per 200000 hours worked
 including former alcan
066
2009 081 32 rio tinto 2010 annual report
sustainable development review continued
to drive improved performance at our sites where the most injuries 
are occurring or where we face persistent challenges of repeated or 
major injuries or fatalities we have developed a site safety acceleration 
process the process is built on the principles of diagnosing root causes 
of poor safety performance and through the engagement of leaders 
and employees developing sitespecific practical interventions that 
lead to sustainable safety improvements
we have also established a framework that defines our expectations 
and the processes to assure implementation of our systems and 
standards during the development of major projects
health
our goal is no new cases of occupational illness we are targeting 
a 30 per cent reduction in the rate of new cases of occupational 
illness per 10000 employees between 2008 and 2013 
the main types of occupational illnesses recorded in our 2008 
baseline are related to musculoskeletal disorders noise induced 
hearing loss and stress the baseline excludes operations that 
were divested or flagged for divestment during 2009 
in 2010 we achieved a 56 per cent improvement in performance 
compared with 2008 with significant decreases in the number 
of reported cases of noise induced hearing loss 54 per cent 
musculoskeletal disorders 66 per cent and stress 40 per cent
ongoing reductions in new cases of occupational illnesses will 
require further improvements in the management of risks posed 
by manual handling and noise exposure as well as supporting 
healthy lifestyles through workplace wellbeing programmes
we are also targeting a ten per cent reduction in the number of 
employees exposed to an eight hour noise dose of more than 
85 decibels between 2008 and 2013 in 2010 the number of 
employees potentially exposed increased by 03 per cent per  
10000 employees compared with 2008 progress against this target 
has been slow based upon business feedback we are expecting 
most of the improvements for this target to occur in 2012 and 2013
rio tinto operates two uranium mines ranger in australia and 
rössing in namibia when not appropriately managed exposure to 
ionising radiation from uranium mines can pose potential health 
risks for workers or surrounding communities and we understand 
there may be some concern that those working or living near our 
uranium mines could be at risk 
in line with our occupational health standards we continue to work 
on reducing radiation exposure to as low as reasonably practicable 
our monitoring has not recorded any employee exposure above 
our 20 millisievert msv annual limit for over a decade rio tinto’s 
exposure limit is well below the five year 100msv and annual 
50msv limits typically found in international protocols 
we believe that our health and wellbeing strategy will support 
our employees to lead healthier lives and reduce fatigue stress 
and obesity related risks to deliver health safety and productivity 
improvements across the group we have continued to roll out  
our australian “achieve health” programme and more than  
7000 of our people globally signed up for our “be active” 
challenge in 2010
rio tinto operates in countries where the prevalence of human 
immunodeficiency virus hiv tuberculosis and malaria are 
high we work closely with the international health community 
on these problems not only in africa but globally where our 
operations are located in regions with a generalised hiv epidemic 
as defined by unaids we actively encourage all employees to 
know their hiv status through voluntary testing we also ensure 
that all employees in these regions and their nominated partner 
have affordable access to treatment care and support including 
antiretroviral drugs
as part of our new business resilience and recovery programme 
we focused on the identification and classification of potential 
and emerging health risks and evaluation of our emergency 
medical response preparedness in 2010
our people
in 2010 we employed 77000 people including the group’s 
proportionate share of consolidated companies and equity  
accounted units of these approximately 25000 were located  
in australasia 22000 in north america 17000 in europe and 
8000 in africa our workforce decreased in 2010 as a result of our 
divestment programme see page 252 for a breakdown of employees 
by business units
we employ on the basis of job requirement and do not discriminate 
on grounds of age ethnic or social origin gender sexual orientation 
politics religion or disability we do not employ forced bonded 
or child labour we recognise the right of all employees to choose 
to belong to a union and seek to bargain collectively we employ 
people with disabilities and make every effort to offer suitable 
alternative employment and retraining to employees who become 
disabled and can no longer perform their regular duties
our employees’ diversity of backgrounds skills perspectives 
and experiences is critical to our business success we encourage 
2006 2007 2008 2009 2010
36
22
47
38
22
new cases of occupational illness
per 10000 employees
 including former alcan
22
2009 38
employees exposed to an eight hour noise dose of more than 85dba
per 10000 employees average over full shift
3382
2009 3509
2006 2007 2008 2009 2010
3964
3723
3375
3509
3382 wwwriotintocom 33
overview performance
production reserves 
and operations governance financial statements additional information
diversity in teams and the sharing of people skills and knowledge 
across the group we provide employees with opportunities for 
flexible work arrangements to accommodate individual needs at 
different life and career stages
our goal is to employ people who meet job requirements and reflect 
the diversity of our surrounding communities currently we are 
focused on improving the representation of women and people 
from nationalities which are underrepresented in our workforce 
in 2010 women represented 27 per cent of our graduate intake 
14 per cent of our senior management 20 per cent of the chief 
executive’s executive committee and 13 per cent of the rio tinto 
board our new group wide diversity targets for 2015 are
 women to represent 20 per cent of our senior management
 women to represent 40 per cent of our graduate intake
 fifteen per cent of our graduate intake to be nationals from 
regions where we are developing new businesses
we actively favour local employment where local candidates 
meet job requirements and laws allow our local employment 
commitments are often managed through directly negotiated 
community benefit agreements throughout 2010 we remained 
the largest private sector employer of indigenous australians who 
represent eight per cent of our australian workforce
rio tinto’s new statement on commitment to diversity and 
inclusion can be found on page 116 we are also establishing 
a new crossfunctional diversity council chaired by a member 
of our executive committee to set directions for sponsor and 
monitor progress of initiatives to improve diversity and inclusion
our reward strategy is designed to attract retain and motivate 
our workforce base pay is reviewed regularly to account for the 
individual’s role and local market trends we offer allowances 
broadbased employee share plans retirement plans and 
healthcare benefits consistent with local market competition
we provide a short term incentive plan to allow individuals to 
participate in the financial success of the business and focus on 
individual performance objectives long term incentive plans are 
used to align individual objectives with shareholder interests and 
to recognise performance and potential for strategic contributions
we directly engage with our employees on their individual 
career aspirations and implement individual development plans 
coaching and feedback processes to position them and the group 
for success we also conduct regular talent reviews to assess the 
capabilities and potential of our workforce
our second global employee engagement survey was completed  
in 2010 engagement levels are positive and good progress has 
been made on improving understanding and support of the group’s 
vision and values action plans are being implemented in each 
business globally we are focusing on increasing the capability of 
our leaders to engage with and maximise the contribution of our 
people especially among our frontline employees we will measure 
progress as part of our next engagement survey in 2011
in 2010 our frontline operational business and strategic 
leadership development programmes were relaunched along 
with new programmes for the accelerated development of high
potential employees and leadership skillbuilding for people in 
operational roles approximately half a million attendances were 
recorded for training in technical and operational skills and 
health safety and environment courses during 2010
communities and regional economic development
by understanding our socioeconomic interactions in the places 
where we operate we can optimise benefits and reduce negative 
impacts for communities and our operations alike 
these interactions include relationships with local suppliers 
training and local employment support for small to medium 
enterprises optimal distribution of taxes and royalties support 
for multilateral socioeconomic programmes and development of 
infrastructure that can also benefit local communities businesses 
and governments
in addition to direct economic contributions through salaries 
wages taxes royalties and local service and supply our businesses 
supported 2900 socioeconomic programmes covering a wide range 
of activities such as health education business development 
housing environmental protection and agricultural development 
during 2010 
to enable us to target the delivery of socioeconomic programmes 
reflecting the priorities of local communities and to identify potential  
positive and negative impacts of our operations we conduct community  
baseline social impact and social risk assessments we use this 
information along with community input to develop multiyear 
communities plans
in 2010 we spent us166 million on community assistance 
programmes and payments into trusts set up in directly 
negotiated community impact benefit agreements the us47 
million increase in spending compared to 2009 reflects  
a rebounding of group activity and the establishment of new  
community agreements which involve direct payments to 
community controlled regional development trusts
employees
number
 including former alcan
77000
2009 102000
2006 2007 2008 2009 2010
35000
77000
106000 106000
102000
community contributions
us millions
166
2009 119
2006 2007 2008 2009 2010
96
107
140
119
166 34 rio tinto 2010 annual report
sustainable development review continued
we verify the quality of our communities work at each operation  
on a three year cycle in 2010 we conducted assurance assessments  
at 25 operations
the introduction of a mining smelting or refining operation can 
be disruptive and concerning to local communities particularly 
where resettlement land rights or areas of spiritual value are 
concerned we apply leading industry practice in dealing with 
such matters and try to minimise and mitigate negative impacts 
and gain broadbased community support for our activities 
however people can validly have differing opinions about a 
development for example some sections of the community 
around the us based eagle project in michigan have requested 
broader access to eagle rock notwithstanding the understandings 
we have reached with other sections of the community to address 
safety and other considerations 
community action may also affect our ability to conduct our operations  
such as our 2008 decision to temporarily suspend pilot project 
construction work at the la granja copper development in peru 
development of this project was subsequently scaled back as a 
result of the global financial crisis
even when the broader community is supportive individuals 
or ngos may continue to have concerns about or oppose our 
activities and they may commence legal action to challenge it 
we seek to respond to such actions whilst respecting the views 
of those people who disagree with us we accept that we cannot 
meet everybody’s concerns and expectations but wherever we 
operate we seek to do so with broadbased community support
our operations are part of the social context in which they sit 
and we may sometimes be subject to collateral effects or issues 
arising out of differences within a community or between a 
community and third parties this can result in high crime rates 
or civil unrest andor our employees and assets being the target 
of antisocial and unlawful activities in such circumstances we 
do what we reasonably can to maintain the security of our assets 
and personnel in a manner that is proportionate and safe for 
our people and the local community we follow the voluntary 
principles on security and human rights provide training to 
security personnel and follow security rules of engagement which 
seek to limit the risk of fatal incidents arising from unrest theft 
or trespass
our communities target requires all operations to have locally 
appropriate publicly reported social performance indicators that 
demonstrate a positive contribution to the economic development 
of the communities and regions where we work consistent with 
the millennium development goals by 2013 by 2010 20 per 
cent of operations had these indicators in place our report on 
the millennium development goals and the library of our local 
sustainable development reports can be found on our website
we seek to make our voluntary contributions part of a bigger 
picture this year rio tinto and the australian football league 
afl launched a four year partnership focused on leadership 
development for 18 to 24 year old indigenous men the footy 
means business programme will provide participants exposure 
to elite afl programmes and training along with networking 
opportunities in corporate environments to build leadership and 
teamwork skills
environmental stewardship 
 read more in the “our approach” section of wwwriotintocom
governance 
systems
social 
wellbeing
prosperity
 
economic
stewardship
 
environmental
we continue to proactively manage 
issues related to climate change water 
land stewardship biodiversity mineral 
and non mineral waste air quality and 
closure 
our programmes include input from 
our local communities and subject 
matter experts and are supported by 
our partnerships with birdlife international conservation 
international the eden project earthwatch fauna  flora 
international and the royal botanic gardens kew
during 2010 the international union for conservation of 
nature iucn and rio tinto entered into a three year formal 
collaboration agreement to work together on sustainable 
development efforts environmental management and  
delivery of conservation outcomes
greenhouse gas emissions
we accept the need for climate change action and recognise the 
issue as being one of our greatest challenges and opportunities 
we support efficient effective and equitable measures to tackle 
climate change which promise a comprehensive long term 
response to a globally complex problem we accept the need  
for a price on carbon
we believe that our businesses have a positive future in a world 
that is working to global carbon constraints and we aim to 
improve the energy intensity of our operations and new projects
we are targeting to reduce our total ghg emissions intensity by six 
per cent between 2008 and 2013 a further four per cent reduction  
is targeted to give an overall ten per cent reduction by 2015 
our ghg emissions intensity has reduced by 37 per cent between 
2008 and 2010 largely as a result of the 2009 divestment of the 
ningxia aluminium smelter in china during 2010 the impact of 
closure or reduced production at older aluminium smelters that had 
low emitting power sources offset some of the intensity reductions 
achieved during 2009 these closures and production decreases are 
one step towards our longer term strategy of modernisation
our total ghg emissions were 434 million tonnes of carbon 
dioxide equivalent co
2
e in 2010 23 million tonnes higher than 
greenhouse gas emissions intensity
indexed relative to 2008
 including former alcan
963
2009 925
2006 2007 2008 2009 2010
1109
925
963
1102
1000
1113 wwwriotintocom 35
overview performance
production reserves 
and operations governance financial statements additional information
in 2009 this is the result of increased production of a number 
of commodities and production shifts to operations with higher 
greenhouse gas emission intensity rio tinto’s direct emissions 
were 276 million tonnes of co
2
e in 2010 a breakdown of our 
greenhouse gas emissions by product group and country  
is available on our website
we operate in an energy intensive sector and we seek to lower the 
greenhouse gas emissions over the full lifecycle of our products 
for example rio tinto alcan is a leader in the development of 
energy efficient aluminium smelting technology and a significant 
proportion of our aluminium smelters are powered with low 
carbon hydro or nuclear power sources the high strength to 
weight ratio of aluminium can reduce the weight of cars and 
decrease the amount of fuel used during their operation it can 
also be efficiently recycled
we continue to track greenhouse gas emissions associated with 
our products along the value chain in 2010 the three most 
significant sources of indirect emissions associated with our 
products were
 approximately 47 million tonnes of co
2
e associated with  
third party transport of our products and raw materials
 an estimated 122 million tonnes of co
2
e associated with 
customers using our coal in electricity generation and steel 
production
 approximately 360 million tonnes of co
2
e associated with 
customers using our iron ore to produce steel the emissions 
associated with the use of our coal and iron ore cannot be 
added as some customers use both our iron ore and our  
coal to produce steel
due to global demand coal will remain a significant source of energy 
for the foreseeable future we are therefore investing in developing 
and commercialising carbon capture and storage ccs technology 
we are a founding member of the global ccs institute and we 
support other collaborative efforts to deploy ccs technology such  
as the co
2
crc’s otway basin geosequestration project in australia 
during 2010 climate change legislation and regulation were 
debated in a number of jurisdictions where we operate this  
has the potential to increase our operating costs significantly
 in australia new climate change policy has been discussed but 
not yet enacted currently we have both direct and indirect cost 
exposure as a result of a requirement to purchase certificates as 
part of the government’s renewable energy target all legislated 
reporting requirements were met in 2010
 in the us the environmental protection agency epa is 
drafting regulations that may subject ghg emissions to 
permitting requirements
 in the eu some of our operations are subject to the second 
phase of the eu emissions trading scheme this exposure  
will increase when the third phase starts in 2013
we recognise the need to adapt to the physical impacts of climate 
change in 2010 rio tinto alcan entered into partnership with 
ouranos to develop tools and strategies to further adapt to climate 
change wwwouranosca
energy use
rio tinto both uses energy in its operations and produces it our 
smelting and mineral processing operations are energy intensive 
and depend on hydroelectricity nuclear power coal oil diesel 
and gas to keep them running
this year our energy use increased by 32 per cent to 512 
petajoules following production increases for several 
commodities including titanium dioxide feedstock and iron ore
through our coal and uranium sales we supplied 4735 petajoules 
of world energy demand in 2010 our energy supply was more 
than eight times our energy use 
to drive improvements in energy efficiency our businesses have 
set a range of local energy targets that cover nearly three quarters 
of the group’s energy use
we are also working to reduce the energy intensity of our new 
projects through energy efficient design the use of alternative 
energy sources and development of step change technologies this 
includes development of the ap60 cell and other components of 
ap technology™ which have the potential to significantly reduce 
the energy required to produce aluminium
our use of low greenhouse gas emitting hydro nuclear and other 
renewable power sources represented 67 per cent of our electricity 
use in 2010 we have significant hydropower generation facilities 
in canada scotland and norway and are currently developing a 
hydropower strategy to better manage the social and environmental 
threats and opportunities associated with our hydropower dams
water
we use water at every stage of our business – for exploration 
mining processing smelting refining rehabilitation generation 
of hydroelectric power and drinking
each of our operations has its own set of water challenges some 
are located in water scarce environments where they compete with 
other users whilst others need to manage a surplus from storms 
or groundwater the quality of water can impact production 
operating costs nearby communities and the environment 
increasingly we are working in locations where access to clean 
drinking water and adequate sanitation is an issue for neighbouring 
communities particularly in developing countries
total energy use
petajoules
 including former alcan
512
2009 496
2006 2007 2008 2009 2010
257
540
554
496
512 36 rio tinto 2010 annual report
sustainable development review continued
our water strategy provides a framework for responsible stewardship 
by addressing water related business risk and improving performance 
across social environmental and economic aspects we focus 
on ways to minimise the amount of water we remove from the 
environment reuse it whenever we can and return it to the 
environment meeting regulatory limits
our strategy includes
 setting targets to reduce our use and manage our impact  
on surrounding ecology
 understanding the flow regime and quality required  
to maintain ecosystem integrity
 including water availability issues in new project design
 relocating and upgrading infrastructure to provide greater 
flood protection 
 accessing alternate sources to protect against water shortages
 working with stakeholders on sustainable water management 
issues especially with communities near our operations
we used the world business council for sustainable development 
wbcsd global water tool to identify our operations and projects 
located in water scarce environments wwwwbcsdorg in 2010 
approximately ten per cent of our freshwater withdrawal was 
from about 20 operations in water scarce environments with 
our greatest exposure in australia a map of our operations and 
projects in areas of water scarcity is available on our website
in 2010 our freshwater withdrawal increased by over six per cent 
to 516 billion litres due to increased production and high rainfall 
in eastern australia a breakdown of our freshwater withdrawal by 
product group and country is available on our website
we are targeting to reduce our freshwater use per tonne of product 
by six per cent between 2008 and 2013 freshwater use excludes 
water that is extracted for ground control and discharged without 
use in our processes between 2008 and 2010 our freshwater use 
per tonne of product has increased by 23 per cent 
during 2010 our freshwater use per tonne of product increased 
due to significant rainfall events in eastern australia which led 
to increased freshwater storage and lower production or higher 
process water requirements at several businesses these increases 
were largely offset by improved efficiency at our western australia 
iron ore operations as production shifted to newer operations
the potential impact of climate change will bring higher levels 
of risk to our water supplies we need to understand how our 
operations and nearby communities will be impacted water 
regulation will also evolve to reflect changes in water availability 
which could impact our operations through higher water prices 
and changes to water allocations
for our water strategy to succeed we need good working 
relationships with those directly or indirectly affected by our 
business we engage with governments and other organisations 
for example the minerals council of australia and the icmm to 
support developing water policy and with organisations committed 
to sustainable water management such as the johnson foundation 
at wingspread environmental forum in the us the world economic 
forum water project and the wbcsd water leadership group 
in 2010 we participated in the first water disclosure project 
which aims to inform the global marketplace on water related 
investment risk
land
we manage just under 41400 square kilometres of land excluding 
our exploration leases at the end of 2010 our activities had 
impacted 94 per cent of this area
in line with leading practice we aim to rehabilitate land as it 
comes out of use rather than waiting until all operations have 
ceased by the end of 2010 24 per cent of our disturbed land 
excluding land disturbed for hydroelectricity dams had been 
rehabilitated we have established an internal rehabilitation 
target and are working with the royal botanic gardens kew to 
drive performance improvements in this area
we are continuing our programme of exploring the threats and 
opportunities for the group arising from emerging green markets 
in biodiversity carbon water and other ecosystem services 
ecosystem services are the benefits we obtain from ecosystems 
the un millennium ecosystem assessment grouped these into four 
categories provisioning production of food and water regulating 
control of climate and disease supporting nutrient cycles and 
crop pollination and cultural spiritual and recreational benefits
our natural capital project has commenced exploring the 
ecosystem service values of our extensive non operational 
landholdings through our collaboration with the iucn 
economics group we have undertaken a preliminary assessment  
 
xxx
xxx
land footprint
square kilometres
 disturbed 
 rehabilitated
3873
2009 3812
2006 2007 2008 2009 2010
401
1112
418
1154
471
1373
402
3410
3453
420
freshwater withdrawn
billion litres
 freshwater withdrawn
 freshwater withdrawn and used
 freshwater withdrawn and  
 discharged without use
516
2009 485
2006 2007 2008 2009 2010
392
411
70
449
66
419
73
443 wwwriotintocom 37
overview performance
production reserves 
and operations governance financial statements additional information
of the biodiversity value of forest conservation projects in 
madagascar this groundbreaking work is being developed as a 
pilot project as part of the wbcsd ecosystem valuation initiative
rio tinto is a member of the prince’s rainforest project steering 
group wwwrainforestsosorg the project aims to find practical 
solutions to slow tropical deforestation and combat climate change 
by identifying ways to value and then pay for the crucial 
ecosystems services that rainforests provide
biodiversity
the potential for impact on biodiversity makes our projects sensitive 
for external stakeholders and employees rio tinto’s future success 
depends on our ability to manage these issues and our biodiversity 
strategy provides the management framework with an industry 
leading goal to have a “net positive impact” npi on biodiversity
tools and methodologies have been developed to assess the 
biodiversity values of rio tinto’s landholding we continue to 
work with our conservation partners to improve implementation 
of the strategy and have commenced pilot programmes in africa 
australia and north america
twenty eight per cent of our operations assessed using the  
rio tinto global biodiversity values assessment protocol are 
ranked as having very high biodiversity values and 21 per cent 
ranked with high values biodiversity action plans have been 
completed or are under development at 86 per cent of these 
operations we have internal targets in place to support our  
goal of achieving npi at these sites
an underlining principal of our biodiversity work is to ensure  
that biodiversity conservation activities are community based  
for example in madagascar we have negotiated legal agreements 
with local communities to manage avoidance zones for conservation 
whilst it may never be possible to obtain unanimous support for 
these programmes and some sections of the community continue 
to have objections we believe that it has the support of the 
majority of those affected in the local community
through our biodiversity partners we have also funded direct 
compensation programmes where community members received 
agreed compensation funds for water supplies schools etc in 
return for conserving key features of the environment and other 
initiatives such as a reduction in logging and hunting 
economic prosperity 
 read more in the “our approach” section of wwwriotintocom
stewardship
 
environmental
governance 
systems
social 
wellbeing
prosperity
 
economic
we adopt a lifecycle view of our 
operations and products to seek 
to maximise the value to society 
whilst minimising negative impacts 
of products and encouraging those 
along the supply chain to adopt 
similar practices 
we use our expertise to harness 
resources and create prosperity for our shareholders employees 
communities governments and business partners
our direct economic contribution was us61298 million in 2010 
this includes
 us6951 million spent on wages and salaries
 us33812 million in value add made up of labour tax and 
royalty payments and returns to capital
these figures include the group’s share of joint ventures and 
associates a breakdown of our local regional and national 
economic contributions is available on our website
suppliers
our statement of procurement principles is available on our website 
payments to suppliers are a major benefit to the economy generating 
employment and creating wealth in 2010 we spent us27486 
million on goods and services with over 57000 suppliers
by collaborating with our partners to obtain sustainable development 
objectives for each of our business units we seek to create business 
relationships that have positive and enduring effects in the developing 
economies where we operate build our partner communities’ 
confidence in our reputation and extend our licence to operate
as an example boyne smelters limited bsl and yarwun alumina 
refinery have implemented a decontamination and recycling project 
in gladstone australia to support rio tinto alcan’s goal of zero 
general waste being sent to landfill by 2014 working closely with a 
local partner these operations have been able to reduce the amount 
of material sent to landfill by decontaminating and reusing protective 
gloves while recycling filter bags and other oil soaked materials
direct economic contribution
us million
 payments to suppliers 
 value added
61298
2009 44844
2006 2007 2008 2009 2010
14441
10999
17241
16277
28412
29653
21363
23481
33812
27486 38 rio tinto 2010 annual report
sustainable development review continued
we also work with non governmental organisations and other 
partners to build country capacity through programmes such as 
small and medium enterprise development access to capital and 
tailoring procurement processes to improve local supplier access
product stewardship
by understanding the health and environmental impacts and 
benefits of our products over their complete lifecycle we gain 
knowledge on how to improve our processes expand our 
information to the marketplace and differentiate our products 
from our competitors thus we have developed and regularly 
update lifecycle assessments for all our major products
this knowledge is also used to ensure compliance with chemicals 
regulations such as the european union registration evaluation 
authorisation and restriction of chemicals reach legislation 
and the un globally harmonized system of classification and 
labelling of chemicals in 2010 we met the reach registration 
deadline for our products affected by the regulations
we engage in industry wide stewardship initiatives to support 
responsible production and help develop leading practices and 
recognised standards we chair the stewardship committee 
of the minerals council of australia are active members of 
the responsible jewellery council and participate in uranium 
copper steel and aluminium stewardship initiatives we are 
also supported in our material stewardship initiatives by our 
partnership with the eden project
we are a board member of the world ocean council which aims 
to help create a responsible and crosssectoral ocean business 
community a review of environmental risks related to our shipping 
activities has been completed as part of our marine stewardship 
programme and is being used to identify areas for future focus
non managed operations and projects
rio tinto holds interests in companies and ventures it does 
not manage however we engage as members of the boards of 
directors operating committees andor technical committees 
because we believe that the principles in the way we work are 
universal in our dealings with joint venture partners and non
controlled companies we make every effort to ensure that those 
standards of conduct are respected at all times
examples of our non managed operations include the  
escondida copper mine in chile and the grasberg coppergold  
mine in indonesia
rio tinto has a 30 per cent interest in escondida which is 
managed by bhp billiton our seats on the owners’ council allow 
us regular input on strategic and policy matters we played a part 
in establishing the escondida foundation which is funded by 
one per cent of the mine’s pretax profits and is a vehicle through 
which escondida fulfils some of its social responsibilities
there was one fatality at the escondida mine in 2010 as a 
result of injuries sustained whilst operating a cathode stripping 
machine we worked closely with bhp billiton to support its 
investigation into the incident and to make improvements to 
safety procedures
a subsidiary of the mining company freeportmcmoran copper 
 gold inc freeportmcmoran pt freeport indonesia owns 
and operates the grasberg mine we have a joint venture interest 
in the 1995 expansion of the mine which entitles us to a 40 per 
cent share of production above specified levels until 2021 and 
40 per cent of all production after 2021 we do not own shares in 
freeportmcmoran and we do not control the management of the 
joint venture however we have the ability to engage with and 
influence local management through our representation on the 
joint venture’s operating committee
the operator of the grasberg mine manages complex social 
community and environmental issues and has faced opposition 
from time to time there have also been instances of violence in 
areas near the mine including a series of shooting incidents along 
the road leading to the mining and milling operations that have 
resulted in three fatalities in 2009
both rio tinto and freeportmcmoran support the voluntary 
principles on security and human rights and work together to 
ensure practice is consistent with these principles at least one 
per cent of the mine’s net sales is committed to support village 
based programmes amounting to cumulative funding of us467 
million since 1996
the grasberg mine has used a controlled riverine tailings 
management programme throughout its long history this 
programme was approved by the government of indonesia 
following numerous technical studies to identify the appropriate 
tailings management plan for the site 
the practice of riverine tailings disposal has been subject to 
scrutiny for many years by a range of stakeholders including 
certain indonesian governmental authorities and some ngos we 
recognise that riverine tailings disposal has been criticised and 
that the world bank does not consider it as good industry practice 
in accordance with the international finance corporation’s ifc 
2007 environmental health and safety guidelines for mining
however we continue to believe that the use of riverine tailings 
disposal at the grasberg operation is appropriate given the 
extremely rugged topography high rainfall and high seismic risk 
that makes construction of more conventional tailings management 
facilities technically challenging we remain actively engaged in 
supporting the mine’s operator pt freeport indonesia in reducing 
the impact of waste rock management and tailings disposal
pt freeport indonesia has implemented a number of significant 
improvements in tailings management at the grasberg mine these 
include the construction of lateral levees to limit the surface area 
disturbed by tailings deposition in the lowlands and to protect 
adjacent river systems the diversion of the ajkwa river system to 
preserve its water quality and to enhance tailings retention within 
the deposition area the successful progressive rehabilitation of 
the now inactive tailings within the ajkwa diversion area and the 
new islands forming at the mouth of the diversion area and the 
completion of an ecological risk assessment
the focus of our work with the operator continues to be 
on minimising the geochemical risks posed by waste rock 
management and tailings providing for effective acid rock 
drainage management and promoting progressive rehabilitation
we seek to ensure that investors understand the actions we 
are taking in relation to sustainable development issues and 
we are aware that the decision to buy or sell our shares may be 
influenced by their understanding of these issues for example 
the 2008 sale of a 06 per cent interest in rio tinto by the 
norwegian government pension fund was stated to be a result 
of concerns in relation to the environmental practices at the 
grasberg mine wwwriotintocom 39
overview performance
production reserves 
and operations governance financial statements additional information
governance systems 
 read more in the “our approach” section of wwwriotintocom 
stewardship
 
environmental
governance 
systems
social 
wellbeing
prosperity
 
economic
the way we work supported by our global 
policies standards and guidance notes in 
conjunction with the requirements of local law 
and our voluntary commitments forms the 
basis of our governance systems 
business integrity
rio tinto considers conducting our 
business with the highest standards of integrity to be a core value
we were a founding supporter of the united nations global 
compact wwwunglobalcompactorg a voluntary initiative to 
align businesses with ten universally accepted principles in the 
areas of human rights labour environment and anticorruption 
we report our progress against these principles on our website
through icmm we endorse the extractive industries transparency 
initiative eiti wwweitransparencyorg and we promote the 
eiti in the candidate countries where we operate the taxes and 
royalties we paid in these countries are reported on our website
our long standing partnership with the dundee university centre for 
energy petroleum and mineral law and policy sponsors postgraduate 
studies contributing to the creation of a stable international legal and 
investment environment wwwdundeeacuk
the way we work and other rio tinto standards clearly state that 
bribery and corruption are prohibited in all forms whether direct 
or indirect and whether it is to or from a public official a political 
candidate party or party official or a private sector employee 
we only make payments for legitimate business services and 
purposes at a rate that reflects market value payments must be 
accurately recorded in our accounting records
during 2010 four of our shanghai based employees were found 
guilty on charges of receiving bribes and obtaining commercial 
secrets when the four employees were originally detained in 
mid 2009 we appointed independent forensic accountants 
and lawyers to carry out an investigation into the claims this 
investigation did not uncover any evidence to substantiate 
allegations of wrongdoing within our systems
nevertheless we were informed that the prosecutor presented 
evidence in court that showed the four employees had accepted 
bribes by accepting bribes they engaged in behaviour that 
contravened the way we work and our antibribery standards 
accordingly their employment was terminated
independent of this incident we had commenced a major review 
of our compliance programme to ensure that our systems remain 
in line with leading practice
this led to the release of a revised version of the way we work 
introduction of new or revised standards for antibribery due 
diligence antitrust data privacy fraud and compliance as well 
as release of a new standard for conducting investigations into 
allegations of serious wrongdoing we have also refined our 
guidelines for information gathering in china and relaunched 
speakout our independently administered confidential 
whistleblowing programme internal communication and  
training campaigns have accompanied each of these changes 
there were 434 speakout calls made in 2010 of the new issues 
raised 47 per cent resulted in action being taken in relation to the 
reported issue see chart below
human rights
we support and respect human rights consistent with the united 
nations universal declaration of human rights and we actively seek 
to ensure that we are not complicit in abuses committed by others 
we endorse the voluntary principles on security and human rights 
and the oecd guidelines on multinational corporations
training on our human rights policy is required every two years 
for our employees at the general manager level or above during 
2009 and 2010 4114 people completed this training we are also 
developing a guide to assist with the integration of human rights 
into our communities work
in 2010 we established a formal partnership with the danish institute 
of human rights wwwhumanrightsdk and we will be working 
together on a number of human rights projects throughout 2011
rio tinto operates in a manner consistent with the un 
declaration on the rights of indigenous peoples and sovereign 
obligations however the un declaration contains broad 
statements of principle that are open to a range of potentially 
conflicting interpretations we acknowledge that some sections 
of the communities where we operate hold alternative views as to 
how the un declaration should be applied in practice as has been 
the case at the eagle nickel project in michigan us 
we respect the land connection of indigenous communities and 
work with them on their land in a spirit of reciprocity transparency 
and recognition of their culture we recognise that every indigenous 
community is unique and reach specific agreements with affected 
communities on how they want to engage with us in the development 
and performance of our operations
business resilience and recovery
our operations could face a range of threats to our business including 
natural or environmental disasters fires or explosions aircraft 
incidents loss of communications or information terrorist acts 
widespread illnesses or pandemics asset or property damage or 
market disruptions 
in 2009 we undertook a review of our approach to ensure that 
0 50 100 150 200 250
environment
data privacy
bribery  corruption
theft  fraud
conflict of interest 
compensation  benefits
other
safety or health
policies  procedures
personnel 
1
2
2
9
9
30
35
55
80
211
speakout  
434
2009 244
number of calls
call activity 40 rio tinto 2010 annual report
sustainable development review continued
we are managing these types of incidents consistently using 
a common language sharing best practices and eliminating 
overlaps and unclear accountabilities across the group
as a result our previously separate emergency response business 
continuity and information technology disaster recovery plans 
have now been brought together in one streamlined business 
resilience and recovery programme 
this programme is embedded within our health safety 
environment and quality management system it requires our 
operations to allocate appropriate resources including trained 
personnel facilities and equipment to effectively mitigate 
control and recover from a major incident we have developed 
training and a library of simulation exercises for our operations 
to use in rolling out the programme our operations will be 
internally audited against these requirements from january 2011
for example during 2010 we conducted a simulation of flooding 
impacting our operations in brisbane australia in january 
2011 when queensland experienced its worst flooding in the 
last century we were able to activate our business resilience and 
recovery plan and assist our people managing the day to day 
physical and emotional impacts of the flood its aftermath and the 
impact on our business in a coordinated and timely manner
stakeholder engagement
genuine engagement with internal and external stakeholders 
who are affected by or have an interest in what we do is a critical 
element of our successful business practice
we maintain continuous dialogue with governments and public 
authorities at national provincial and municipal levels with 
industry associations and representative bodies including the 
wbcsd and with non governmental organisations to achieve our 
shared goals more effectively and develop appropriate standards 
and guidelines for our industry
during 2010 we surveyed 1265 members of government non 
governmental organisations societal influencers and industry 
members globally to understand stakeholders’ views of the mining 
industry and rio tinto this research will be used to inform 
strategy development communications priorities and stakeholder 
engagement planning we also conducted our second global 
employee engagement survey during 2010 see page 33
the rio tinto prize for sustainability reflection period aimed at 
better understanding the benefits of the us1 million prize and 
options for its future direction concluded at the end of 2010 
as part of this process rio tinto and the international business 
leaders forum wwwiblforg brought together past winners and 
finalists to network share experiences and see firsthand examples 
of past winners’ work on the ground we are currently considering 
the options recommended for the future direction of the prize 
closure
integrating closure planning into all aspects of our business from 
the earliest stages of project development to the decommissioning 
of facilities is essential to leave a positive legacy of sustainable 
development minimise unforeseen financial impacts and ensure 
stakeholder expectations are met demonstrating positive closure 
outcomes also assists us to gain access to future projects
we have a multidisciplinary approach to closure planning 
involving communities human resources environmental 
engineering and financial specialists our closure management 
plans are updated every five to seven years to ensure they address 
key risks incorporate sustainable development opportunities and 
include accurate financial provisions 
ninety three per cent of our businesses currently have closure 
management plans in place rio tinto alcan operations are 
progressively developing or updating closure management plans 
at the end of 2010 our close down and restoration provisions 
were us8602 million this includes the group’s share of 
proportionally consolidated operations and excludes the group’s 
share of equity accounted units
our closure standard and communities standard require our 
operations to regularly engage with stakeholders including 
employees traditional land owners local communities and 
governments together we identify preferred options for  
closure and seek stakeholders’ endorsement for example
 at the beauharnois smelter in canada options for ongoing 
industrial activities were assessed to minimise employment 
impacts and sustain socioeconomic input to the region as a 
result a casthouse was retained at the site and future industrial 
development projects were identified
 at the anglesey smelter in wales alternate uses for the site 
infrastructure and waterfront property were investigated to 
create jobs and support the local economy a remelt business 
employing 90 people has continued and berthing tourist cruise 
ships at the jetty with flowon economic benefits for the region 
has been successfully trialled
we have a team of specialists managing our legacy sites most  
of which were introduced to us through acquisition to ensure  
our closure standard and sustainable development principles  
are applied in these areas for example
 at one of our jamaican legacy sites we have provided support 
for local agricultural scholarships the 30 operational and 
security personnel employed for the remedial works we are 
undertaking were recruited locally
we continue to participate in industry initiatives to enhance 
closure planning guidance through recognised bodies such as 
icmm the post mining alliance wwwpostminingorg the eden 
project wwwedenprojectcom and regional mining and minerals 
councils or associations in the places that we work
assurance
our corporate assurance function has accountability and 
responsibility for providing assurance to the board that
 rio tinto’s policies standards and controls are adequately 
designed and effective for their intended purpose and that
 these policies standards and controls are consistently 
implemented by all rio tinto sites on a timely basis and as 
designed
in addition we engaged an independent external assurance 
organisation pricewaterhousecoopers pwc to provide the  
board of directors of rio tinto plc and rio tinto limited assurance 
on selected sustainable development subject matter as explained 
on the next page
pwc’s assurance statement satisfies the requirements of subject 
matters one through four of the icmm assurance procedure whilst 
our online gri report has been checked by gri satisfying subject 
matter five of the icmm procedure overview performance
production reserves 
and operations governance financial statements additional information
independent assurance report
wwwriotintocom 41
inherent limitations
inherent limitations exist in all assurance engagements  
due to the selective testing of the information being 
examined therefore fraud error or noncompliance may 
occur and not be detected additionally nonfinancial data 
may be subject to more inherent limitations than financial 
data given both its nature and the methods used for 
determining calculating and estimating such data
restriction on use 
this report has been prepared in accordance with our 
engagement terms to assist rio tinto in reporting its 
sustainable development performance we do not accept or 
assume responsibility for the consequences of any reliance 
on this report for any other purpose or to any other person 
or organisation any reliance on this report by any third 
party is entirely at its own risk
we consent to the inclusion of this report in the annual 
report to assist rio tinto’s members in assessing whether 
the directors have discharged their responsibilities by 
commissioning an independent assurance report in 
connection with the selected subject matter
limited assurance
this engagement is aimed at obtaining limited assurance 
for our conclusions as a limited assurance engagement is 
restricted primarily to enquiries and analytical procedures 
and the work is substantially less detailed than that 
undertaken for a reasonable assurance engagement the 
level of assurance is lower than would be obtained in a 
reasonable assurance engagement
what we found 
based on the work described below nothing has come to our attention 
that causes us to believe that the selected subject matter for the year 
ended 31 december 2010 has not been prepared in all material respects 
in accordance with the reporting criteria
to the directors of rio tinto plc and rio tinto limited  
together rio tinto
what we did 
rio tinto engaged us to perform a limited assurance engagement 
on the selected subject matter within the sustainable development 
review section of the rio tinto 2010 annual report for the year 
ended 31 december 2010
selected subject matter
 rio tinto’s assertion that it has incorporated the requirements 
of the 10 sustainable development principles of the international 
council on mining and metals icmm into its own policies 
strategies and standards 
 rio tinto’s assertions regarding the approach that it has adopted 
to identify and prioritise its material sustainable development 
risks and opportunities 
 rio tinto’s assertions regarding the existence and status of 
implementation of systems and approaches used to manage  
the following selected sustainable development risk areas
 safety
 greenhouse gas emissions
 energy use
 water
 the following rio tinto performance data related to the 
selected sustainable development risk areas
 all injury frequency rate
 lost time injury frequency rate
 number of fatalities
 total greenhouse gas ghg emissions
 greenhouse gas emissions intensity
 total energy use
 freshwater withdrawn
 freshwater use per tonne of product
reporting criteria
the subject matter above have been assessed against the 
definitions and approaches presented under the reporting at a 
group level heading on the our performance page of rio tinto’s 
website wwwriotintocomourapproach as at 4 march 2011
responsibilities
pricewaterhousecoopers 
our responsibility is to express a conclusion based on the work 
we performed
rio tinto
rio tinto management is responsible for the preparation and 
presentation of the selected subject matter in accordance with the 
reporting criteria
what our work involved 
we conducted our work in accordance with the international 
standard on assurance engagements 3000 revised assurance 
engagements other than audits or reviews of historical financial 
information this standard requires that we comply with independence 
and ethical requirements and plan the engagement so that it will be 
performed effectively 
main procedures performed
 making enquiries of relevant management of rio tinto 
 evaluating the design of the key processes and controls for 
managing and reporting the performance data within the 
selected subject matter 
 testing performance data on a selective basis substantively  
at both an operational and corporate level 
 undertaking analytical procedures over the performance data
 reviewing a sample of relevant management information and 
documentation supporting assertions made in the selected 
subject matter
we believe that the information we have obtained is sufficient 
and appropriate to provide a basis for our conclusion
liza maimone pricewaterhousecoopers 
partner melbourne 
4 march 2011
liability limited by a scheme approved under professional  
standards legislation
pp p p 42 rio tinto 2010 annual report
our high quality bauxite mines and alumina 
refineries state of the art technologies clean  
and renewable energy assets and low cost  
aluminium smelters make us a global leader  
in the aluminium industry 
operating highlights
2010  
us million
2009  
us million
revenue 15206 12038
operating cash flow 1334 549
underlying earnings 
a
773 560
capital expenditure 1328 1690
net operating assets 38326 36340
strategy
 the second phase of transformation will target incremental ebitda 
improvement of us1 billion by 2014
 leverage the group’s robust growth pipeline with a priority on 
modernising and expanding existing tier 1 assets lower costs  
of existing facilities and progress the development of greenfield 
options at a pace aligned with market demand
 be long in bauxite and alumina providing strong growth potential 
particularly in the asian region
key achievements
 increase of us1333 million in underlying earnings from 2009
 value added aluminium product sales volumes increased to  
65 per cent of total sales
 bauxite production up by nine per cent over 2009 mainly in response 
to increased production at weipa in australia to meet the demands  
of the growing chinese market
 alumina production up by three per cent on 2009 due to improved 
production at yarwun in australia ramp up at alumar in brazil and 
restarting idled capacity at vaudreuil in canada
 construction at the yarwun expansion project has been accelerated 
and the completed cogeneration plant and ship unloader handed 
over to operations
 isal aluminium smelter won rio tinto’s top safety award with 47 
million work hours without a lost time injury as at december 2010
key priorities
 proceed with cost efficiencies capacity creep and step change 
improvement through strategic capital investment includes phase 
one of the ap60 plant in canada and the isal expansion in iceland
 continue steps towards optimising the group’s asset portfolio 
progress with kitimat aluminium smelter modernisation in canada 
and yarwun refinery expansion
 capitalise on our value added product capabilities and optimise our 
casting portfolio to serve customers in all key regions
 prioritise power sources with the lowest carbon footprint and 
improving energy efficiency
 create value from ap technology™ via increased technology sales 
faster operational improvements and lower full economic costs on 
new projects
outlook
 favourable position to leverage strong demand from emerging 
economies and seize opportunities across the aluminium value chain 
as the industry continues its recovery
 alumina pricing mechanisms are developing and as liquidity builds 
the group’s strategy of remaining long in bauxite and alumina will 
allow it to use various pricing alternatives
 as aluminium markets continue to recover the group is expected to 
benefit from stable energy sources less linked to lme pricing than 
those of other large producers
aluminium overview
aluminium
transformation modernisation and expansion
contribution to group operating cash flow
6
jacynthe côté chief executive rio tinto alcan
underlying earnings contribution 2008 – 2010 
a
2008
prices and exchange
inflation
volume
costs
0
tax and other
2009
prices and exchange
inflation
volume
costs
tax and other
2010
us million
1281
2243
773
155
77
160
83
1178
560
60
387
41
4
a see note 2 and the “financial information by business unit” section of the 2010 financial statements for a reconciliation of underlying earnings to net earnings wwwriotintocom 43
overview performance
production reserves 
and operations governance financial statements additional information
strategy
rio tinto alcan’s financial performance will continue to be 
founded on transformational change and portfolio discipline as 
a means of reducing its costs and achieving stronger margins 
with the integration of former alcan operations completed and 
achieved synergies in excess of the stated us11 billion target the 
second phase of transformation is targeting incremental ebitda 
improvement of us1 billion by 2014 through cost efficiencies and 
capacity creep as well as step change improvement through capital 
investment
the group’s portfolio began improving in 2009 with the sale  
of the ningxia smelter in china as well as closures at two older 
facilities the beauharnois smelter in canada and the anglesey 
smelter in the uk when its power contract expired in 2010 the 
group divested some of its smaller non core businesses including 
the awaso bauxite mine in ghana and the brockville specialty 
alumina plant in canada
executing tier 1 growth options with a priority on modernising 
and expanding existing assets will allow rio tinto alcan to 
continue driving costs down and reduce its carbon footprint 
primary aluminium projects such as the ap60 plant and kitimat 
modernisation in canada and isal expansion in iceland as well 
as alumina projects such as the yarwun expansion in australia 
are expected to further reduce average costs and progressively 
drive the group’s portfolio down the industry cost curve 
the group uses clean power sources for 72 per cent of the electricity 
used to produce primary aluminium including a strong base of 
renewable self generated hydropower this gives its aluminium 
products a relatively low carbon footprint not only from a production 
standpoint but also due to their potential for application towards 
fuel efficiency improvements and downstream ghg reductions 
eg in cars trucks trains and aircraft in addition aluminium’s 
combination of excellent thermal electrical and forming properties 
can offer more efficient electrical heating and cooling solutions
rio tinto alcan’s business strategy is also to be long in bauxite 
and alumina the group produces enough bauxite and alumina 
to supply its own facilities as well as generate value through 
third party sales this supports growth and reduces price risk 
the group’s alumina position should also allow it to benefit 
from opportunities particularly in the asian region as pricing 
structures evolve
rio tinto alcan is the largest bauxite producer in the industry 
it has an interest in three of the four largest bauxite mines in 
the world and is currently the world’s largest bauxite producer 
rio tinto alcan also has projects under way to achieve a leading 
position in alumina refining including expansion at the yarwun 
facility and ramping up tonnage at both gove in australia and 
alumar in brazil
performance
gross sales revenue for rio tinto alcan increased by 26 per cent 
compared to 2009 this reflects the combination of a robust 
recovery in end use demand in developed economies and the 
continued rollover of inventory financing positions amidst a 
prolonged period of low interest rates
in 2010 rio tinto alcan’s contribution to the group’s underlying 
earnings was us773 million an increase of us1333 million 
from 2009 this was as a result of higher exchange traded 
aluminium prices with the overall impact of price increasing 
earnings by us1569 million compared to 2009 this was partly 
offset by adverse currency movements of us391 million mainly 
from the strengthening of the canadian and australian dollars 
against the us dollar
the improvement in earnings was also attributable to higher 
sales of value added aluminium products smelting capacity 
brought back on line following curtailments in 2009 cost savings 
from lower input prices for caustic coke and pitch and further 
operating efficiencies in group smelters and refineries worldwide 
this was partly offset by inflation and higher energy costs
the average aluminium market price in 2010 was us2173 per tonne 
compared to us1665 per tonne in 2009 the group’s average 
realised price for ingot products in 2010 was us2388 per tonne 
compared to us1833 in 2009 rio tinto alcan has entered into 
metal sales hedging transactions to protect the downside risk at 
some of its high cost smelters this mandate covers a maximum  
of 317000 tonnes about eight per cent of global production  
in 2011 and is expected to cover approximately half this tonnage 
in 2012
in 2010 rio tinto alcan’s annual bauxite production was 334 
million tonnes up from 307 million tonnes in 2009 mainly in 
response to rising third party demand the group has a leading 
position in bauxite mining strong performance in alumina 
refining and whole ownership or participation in 21 smelters 
with a total annual capacity of four million tonnes of primary 
aluminium rio tinto’s share approximately 80 per cent of this 
aluminium production is located in the first half of the industry 
cost curve based on data from cru an industry analyst
aluminium production stayed relatively flat year over year as 
production at the kitimat smelter was reduced due to the closures 
of potlines 7 and 8 in preparation for the modernisation project 
and production at laterrière in canada was reduced due to a 
power outage in july these were offset by nzas in new zealand’s 
production increasing following a transformer failure in 2008 
which impacted 2009 and a gradual return to full capacity  
at operational uk smelters aluminium production records  
were set at the smelters in arvida and grandebaie in canada  
sohar in oman isal in iceland dunkerque in france and  
boyne in australia
key achievements
bauxite production in 2010 was up by nine per cent compared to 
2009 due to increased production at weipa in australia to meet 
demands of the growing chinese market alumina production 
also increased up by three per cent compared to 2009 due to 
improved production at yarwun restarting idled capacity at 
vaudreuil in canada efficiencies in work management and 
process improvements production records were set at yarwun and 
at alumar
rio tinto alcan is accelerating the construction schedule for the 
yarwun alumina refinery expansion this will increase the plant’s 
capacity to 34 million tonnes per year and help move the group’s 
alumina production further down the industry cost curve the 
completed ship unloader and cogeneration plant were handed 
over to operations in 2010 and the latter is already providing 
tangible environmental benefits the project has an expected 
project completion date of august 2012 with first bauxite 
expected to be processed during the first half of 2012
in 2010 the group finalised long term energy contracts for a 
number of its smelters including isal in iceland bell bay and 
tomago in australia and alucam in cameroon as aluminium  44 rio tinto 2010 annual report
prices continue to recover rio tinto alcan is expected to benefit 
from stable energy sources that are less linked to pricing on the 
lme than those of other large producers ninety six per cent of 
the group’s power is secured by self generating facilities or long 
term contracts thus ensuring low and predictable costs
the group is also expanding its hydroelectric capacity in the 
saguenaylacsaintjean region of quebec through the shipshaw 
turbine project this initiative remains on budget and on schedule  
for completion in q4 2012 and will improve this major component 
of total installed capacity by adding 225 megawatts to rio tinto 
alcan’s 2919 megawatt network 
the isal operations won the rio tinto chief executive’s safety 
award in 2010 which was the first year in which it was eligible to 
do so except for one incident in 2009 isal has had zero injuries 
since 2007 and has completed 47 million work hours without a 
lost time injury
rio tinto alcan also continued its global commitment to strong 
community partnerships throughout 2010 in australia the 
gove mine and refinery received the prestigious origin gold 
banksia award for their partnership with dhimurru aboriginal 
corporation to eradicate the yellow crazy ant a significant 
threat to the regional biodiversity of north east arnhem land 
in canada the group established ensemble pour la persévérance 
scolaire a five year investment programme to support definitive 
action to keep young people in school in cameroon rio tinto 
alcan has played an active role in community projects focused  
on health care prevention of hiv malaria and oncocercosis  
and access to potable water
safety
rio tinto alcan employees have integrated the group safety 
strategy throughout the business and work diligently towards 
creating a workplace free of health safety and environmental 
hse incidents rio tinto alcan reduced its all injury frequency 
rate by over 30 per cent to 073 representing a near 50 per cent 
reduction from 2006 levels the group experienced no fatalities 
at its managed sites however there were three fatalities at non 
managed operations 
a key priority has been the reduction of major risks through the 
implementation of rio tinto hse performance standards and 
risk management practices this includes initiatives relating to 
manual handling process safety and improving safety leadership 
with the rollout of leading for improvement training by year 
end a caustic safety standard was developed and implemented 
within the bauxite  alumina business unit at critical sites 
process safety management has progressed significantly with 
reporting investigation and analysis of significant potential 
incidents and completion of corrective actions as a main focus
greenhouse gas emissions
rio tinto alcan contributed 62 per cent of rio tinto’s total ghg 
emissions in 2010 realised and planned reductions also contribute 
significantly to the rio tinto group’s overall intensity 
improvements rio tinto alcan has a strong commitment to 
climate change which includes both short term operational 
objectives and long term adaptation strategies
in 2010 as recovery from the global financial crisis took place 
curtailed production was gradually restarted this affected the 
group’s ghg performance level as did the restart of one potline 
at the laterrière smelter in canada energy efficiency improved 
throughout the operations
total greenhouse gas emission intensity at rio tinto alcan 
improved by 63 per cent in 2010 from 2008 baseline performance 
this represents 18 million tonnes of carbon dioxide equivalent 
and is attributable to the divestment of a high emissions intensity 
joint venture smelter in china the closure of some older operations 
and increased operational efficiency furthermore expansion and 
modernisation projects throughout the portfolio such as those at 
the arvida ap60 and kitimat sites will considerably reduce the 
group’s carbon footprint and help deliver on greenhouse  
gas commitments
review of operations
during 2010 most value added product vap segment shipments 
improved considerably compared to 2009 largely due to recovery 
in the economies of rio tinto alcan’s principal markets in north 
america for example most vap segment shipments have been 
affected by the modest but steady improvement in the us economy 
overall the group’s sales volumes of vap products almost reached 
the same levels as seen in 2008 accounting for 65 per cent of 
total sales in 2010 as compared with 51 per cent in 2009
the return in demand gives rio tinto alcan an opportunity to 
optimise and invest in its vap casting portfolio while kitimat will 
increase its slab production it is transferring billet production to 
other group units in australia and new zealand where the boyne 
smelter recorded its highest ever volume vap the group is also 
investing in leading edge billet casting facilities at isal to support 
the european billet market 
aluminium continued
aluminium – greenhouse gas emissions intensity
indexed relative to 2008
 including former alcan
945
2009 905
2006 2007 2008 2009 2010
1195
905
945
1000
1170
1232
2006 2007 2008 2009 2010
145
127
073
167
104
all injury frequency rate
per 200000 hours worked
 including former alcan
073
2009 104 wwwriotintocom 45
overview performance
production reserves 
and operations governance financial statements additional information
rio tinto alcan also made progress with its growth strategy focusing 
on high return production capacity increases and canadian 
modernisation projects that leverage low cost self generated 
hydropower the group completed value improvement initiatives 
at both the kitimat and ap60 project sites to reduce costs
the prefeasibility study for the modernisation of the kitimat smelter 
is now complete with an improved business case and the anode 
pallet storage facility has been built in march the group also 
reached a landmark agreement with the haisla nation of british 
columbia to secure support and further the kitimat project’s 
commitment to strong communities in december the group 
approved an additional us300 million investment to further 
construction and site preparations for the modernised smelter
at the isal facility a total investment of us487 million was 
approved for a modernisation project to boost production capacity 
by 20 per cent and install a leading edge casting facility to reinforce 
rio tinto alcan’s v ap position the group also finalised a long 
term energy supply agreement with the state utility to allow for 
an amperage increase at the smelter the smelter is expected to 
begin a gradual production increase in q2 2012 billet production 
is expected to begin in 2012 and the group will consolidate 
expertise and production for slab products from isal with  
existing operations in france and the uk 
primary aluminium production was negatively impacted from july 
to september when two electrical transformers failed at laterrière 
the gradual restart of 216 affected pots was completed safely and 
ahead of schedule production losses are estimated at about 
24000 tonnes and the cost of this disruption has been mitigated 
by insurance coverage
the group also experienced a temporary hydropower reduction 
in quebec due to exceptionally low precipitation levels in the 
saguenay–lacsaintjean region this led to the signing of a one 
year power supply agreement with the provincial utility the full 
year impact on ebitda was approximately us117 million
rio tinto alcan’s technological capabilities continue to create 
value from sales faster operational improvements eg production 
capacity creep and lower full economic costs on new projects 
phase one of the ap60 smelter project received final approval 
to proceed in december 2010 with an additional investment 
commitment of us758 million construction of the electrical 
substation is complete and site preparations for potrooms and 
busbar corridors have begun the facility will be equipped with 
38 ap60 reduction cells with metal output per pot at the plant 
reaching levels 40 per cent higher than at existing smelters phase 
one of the plant will produce 60000 tonnes of aluminium per 
year first hot metal is expected in 2013 and the plant will be the 
platform for commercial development of ap60 technology
rio tinto alcan is also recognised as a world leader in bauxite 
residue management and is often called upon to share its 
expertise its goal is to store bauxite waste in its most solid form 
possible and in many cases recover the liquids used so that it can 
recycle them in our refining operations the group works closely 
with regulatory authorities in host communities to ensure that it 
complies with the highest hse standards and invests regularly to 
maintain the integrity and security of these sites 
outlook
rio tinto alcan is better positioned than ever to tackle the 
challenges of the future and the long term fundamentals of its 
industry remain intact providing for a confident outlook the  
per capita rate of aluminium consumption is above 20 kilograms 
per year in developed countries and the rate gap between developed 
countries and emerging economies such as india one kilogram 
brazil and indonesia five kilograms as well as china 12 
kilograms is expected to close over the long term
the group’s financial performance will continue to be founded 
on transformational change reducing its cost structure and 
achieving stronger margins its next phase of transformation 
is targeting significant ebitda margin improvements with the 
objective of achieving margins around 40 per cent
rio tinto alcan’s comprehensive proprietary ap technology™ 
suite makes it a partner of choice for project development the 
group possesses one of the strongest growth pipelines in the 
industry with smelter projects in various stages of development 
these include brownfield expansions at kitimat and isal as 
well as the potential for expansions at sohar in oman alucam 
in cameroon alma in canada and two subsequent expansion 
phases of the ap60 plant greenfield opportunities include 
an additional smelter in cameroon a joint venture smelter in 
malaysia and an aluminium smelter in paraguay in guinea the 
group has a basic agreement which sets forth a framework for a 
joint venture greenfield alumina refinery
as a highly integrated producer the group also aims to be long in 
bauxite and alumina this provides rio tinto alcan with a robust 
internal supply chain and additional value options alumina 
pricing mechanisms are expected to continue evolving rio tinto 
alcan believes that there is insufficient liquidity to support a spot 
index at present and a material proportion of alumina supply is 
locked up under medium to long term contracts
as markets continue their recovery the aluminium industry cost 
curve is expected to steepen further with cost pressures on the top 
end this is expected to be driven by upward pressure on energy 
prices appreciation of the chinese currency china’s reliance on 
imported bauxite potential gradual increased alumina price and 
the eventual impact of carbon pricing mechanisms rio tinto 
alcan remains well positioned to face these expected pressures on 
input costs as key drivers such as access to energy raw materials 
and currency drive up costs for producers in china 46 rio tinto 2010 annual report
we believe rio tinto’s copper group is uniquely 
positioned to supply growing global demand for 
copper with a diverse balanced asset base and 
industry leading technology and innovation that 
allows the copper group to optimise its resources 
and grow
operating highlights
2010  
us million
2009  
us million
revenue 7782 6206
operating cash flow 4048 2223
underlying earnings 
a
2534 1878
capital expenditure 958 553
net operating assets 6663 5187
strategy
 deliver shareholder value with a material increase in production in  
the medium term
 optimise our operating assets by delivering meaningful improvements 
in safety and productivity championing various technologies and 
remaining a leader in sustainable development
 partner with local governments and communities to contribute  
to sustainable development
 develop strong leadership and diverse high quality talent needed  
to deliver growth
key achievements
 completed northparkes e48 block cave project
 began process of updating environmental permits at kennecott utah 
copper’s bingham canyon copper mine and extending its life to 2028 
while maintaining additional long term options
 launched construction of us340 million molybdenum autoclave 
process at kennecott utah copper 
 progressed a number of underground projects at grasberg namely 
the grasberg block cave and dmlz deep mill level zone projects
 continued to develop oyu tolgoi one of the most promising 
undeveloped coppergold deposits in the world
 became the development and operating manager of oyu tolgoi  
and established a clear pathway to 49 per cent ownership in ivanhoe 
mines limited 
 began construction of the eagle nickelcopper project which is 
expected to begin production in late 2013
 obtained tenure over sulawesi nickel resources
 secured land contracts to advance drilling at the la granja project 
key priorities
 continue to improve safety performance with an emphasis on process 
safety and underground safety
 leverage industry leading technology and innovation to drive  
valuegenerating growth in every operation and shorten development 
for greenfield projects
 proactively advance application of key technologies that will drive 
value in rio tinto’s copper assets
 manage and provide support to the oyu tolgoi coppergold project 
with a focus on safety resourcing and sustainable development
 keep the growth pipeline full of potential projects and opportunities
 ensure high quality resources are in place to deliver growth
outlook
 solid fundamentals in the near to medium term
 growth in emerging economies led by china and india will drive 
increasing demand
 potential for supply side challenges linked to increased sovereign 
risk higher operating costs increasing depths decreasing grades and 
project disruption
 the copper group’s asset base is resilient to volatile prices and has 
opportunities for development while its growth pipeline is world class
copper overview
copper
resource optimise grow
contribution to group operating cash flow
17
andrew harding chief executive copper
underlying earnings contribution 2008 – 2010
 a
2008
prices and exchange
inflation
volume
costs
0
tax and other
2009
prices and exchange
inflation
volume
costs
tax and other
2010
us million
1615
487
2534
45
363
256
24
1344
1878
70
304
556
40
a see note 2 and the “financial information by business unit” section of the 2010 financial statements for a reconciliation of underlying earnings to net earnings wwwriotintocom 47
overview performance
production reserves 
and operations governance financial statements additional information
strategy 
the copper group’s strategy is to deliver shareholder value with 
a material increase in production in the medium term the 
company believes the copper price will remain above historical 
averages with some volatility driven by continued strong demand 
in china and potential supply side challenges
using technological innovation rio tinto’s copper group is optimising 
its large long life cost competitive assets to safely and efficiently gain 
access to deposits at lower depths 
the growth pipeline is full of promising potential projects which 
the group will develop by leveraging rio tinto’s project skills and 
in accordance with rio tinto’s leading standards of collaboration 
with local governments and communities the group is focused on 
developing the people resources needed to deliver its ambitious 
growth agenda
rio tinto is a leader in block cave mining and many of our growth 
projects located at depth depend on this mining method while block 
cave mining is capital intensive and requires lengthy development 
times technologies being pioneered by the company have the 
potential to deliver meaningful competitive advantage 
performance
sales revenue of the copper group was us7782 million in 2010 
us1576 higher than in 2009 reflecting higher prices as a result  
of increasing global demand
underlying earnings were us656 million higher than 2009 
attributable to higher metal prices refined copper production was 
down five per cent refined gold production was up 24 per cent and 
refined silver up 17 per cent reflecting the processing of high grade 
precious metals contained in concentrates produced in late 2009
the improvement in prices was partially offset by lower sales 
volumes and higher unit cash costs in line with reduced production 
from lower grades
the average price of copper in 2010 was us340 per pound compared 
to us232 per pound in 2009 
key achievements
during 2010 the copper group made significant and important 
progress on a number of fronts 
the kennecott utah copper operation is pursuing the cornerstone 
project which is expected to extend the life of its bingham canyon 
mine to 2028 while maintaining additional long term options 
kennecott utah copper is also moving forward with construction 
of a new molybdenum autoclave process facility that can improve 
efficiency metal recovery and greenhouse gas emissions 
northparkes received approval to proceed with the “step change” 
prefeasibility project which has the potential to increase 
production three fold and further reduce costs
a feasibility study for the deep mill level zone at grasberg  
was completed
the oyu tolgoi project one of the most promising undeveloped 
coppergold deposits in the world continued to move forward 
construction began at the eagle project which will produce an average 
of 17300 tonnes of nickel and 13200 tonnes of copper metal per year 
beginning in 2013 in addition tenure was granted over the southern 
resource at our sulawesi nickel project in indonesia
in 2010 rio tinto secured land access by signing 27 necessary land 
contracts essential to advancing the la granja project in peru 
safety
the copper group had no fatalities at its managed operations in 
2010 however a fatality occurred at escondida a non managed 
site in the process area
the copper group is committed to creating an injury free 
workplace in 2010 the all injury frequency rate was 057 versus 
067 in 2009 
during 2010 the kennecott utah copper workforce worked more 
than 27 million hours without a lost time incident the operation 
has moved forward with successful initiatives to implement  
onsite emergency response teams and help employees manage 
their personal health during 2010 kennecott received a total of 
13 awards from the utah safety council for its safety performance
northparkes is working to improve safety by understanding and 
addressing fatigue in the workplace with stage two of a trial 
currently under way in addition northparkes is also working 
to manage low probability high consequence risks into 2011 
northparkes will be focusing safety efforts on further developing 
and setting underground safety standards and implementing the 
site process safety plan 
rio tinto copper projects has had zero fatalities for the past two 
consecutive years and worked without a lost time incident in 2010 
the la granja project worked without a medical treatment case for  
18 consecutive months for the second year in a row resolution 
copper received the sentinels of safety award from the us department 
of labor’s mine safety and health administration and the national 
mining association for excellence in safety  this award is the most 
recognised and longest standing award given for occupational safety 
in 2011 the copper group will focus on process safety and 
underground safety with the goal of reducing injuries to zero
greenhouse gas emissions
the copper group is committed to ongoing improvements in 
energy management and efficiency in 2010 the copper group’s 
total greenhouse gas emissions were 31 million tonnes of carbon 
dioxide equivalent about seven per cent of the rio tinto total 
since 2008 the copper group has reduced the ghg emissions 
intensity of its copper cathode production by 63 per cent
kennecott utah copper accounts for the majority 61 per cent of 
the copper group’s greenhouse gas emissions key programmes 
to improve performance at kennecott utah copper have included 
energy management and fuel programmes to improve efficiency 
and the commissioning of a six megawatt combined heat and power 
all injury frequency rate
per 200000 hours worked
057
2009 067
2006 2007 2008 2009 2010
137
124
105
067
057 48 rio tinto 2010 annual report
copper continued
facility the copper group anticipates continued progress in 2011 
as a result of planned implementation of additional efficiency and 
technology improvements 
review of operations 
kennecott utah copper rio tinto 100 per cent
kennecott utah copper based in salt lake city supplies more 
than ten per cent of the us’s refined copper it also produces gold 
silver molybdenum and sulphuric acid as byproducts the planned 
maintenance shutdown at the smelter was completed safely on 
time and on budget in 2010 kennecott utah copper produced  
269 thousand tonnes of refined copper and 596 thousand ounces 
of refined gold kennecott utah copper is also commencing studies 
associated with the potential development of an underground 
copper skarn deposit to operate in parallel with the open pit 
escondida rio tinto 30 per cent
operated by bhp billiton escondida is the world’s largest  
copper producer located in chile’s atacama desert it represents 
eight per cent of global production escondida produced  
1011 thousand tonnes of mined copper in 2010 approval of 
three capital projects for execution will extend the sulphide 
leach operation provide access to higher grade material and add 
grinding capacity to increase mill throughput
grasberg the joint venture gives rio tinto a 40 per cent share 
of production above specified levels until 2021 and 40 per cent 
of all production after 2021
grasberg is owned and operated by pt freeport indonesia a 
subsidiary of us based freeportmcmoran copper  gold inc 
it is one of the world’s largest copper mines and in the lowest 
cost quartile of copper producers in 2010 rio tinto’s share of 
production from grasberg was 51 thousand tonnes of mined 
copper and 183 thousand ounces of mined gold
palabora rio tinto 577 per cent
palabora mining company is a listed south african company 
jse based in limpopo province palabora produced 58 thousand 
tonnes of refined copper in 2010 supplying most of south africa’s 
copper needs and exporting the balance 
northparkes rio tinto 80 per cent
based in new south wales australia northparkes is a joint venture 
with the sumitomo group 20 per cent northparkes produced 
39 thousand tonnes of mined copper and 65 thousand ounces of 
mined gold in 2010
rio tinto’s large long life orebodies produce significant amounts of 
copper at among the lowest costs in the industry with meaningful 
opportunities for development the group is optimising its operations 
by focusing on safety and by using technological innovation 
to improve recoveries extend the life of its mines protect the 
environment gain efficiencies and deliver valuable growth 
kennecott utah copper has submitted permits to move forward 
with the cornerstone project which is expected to create access 
to approximately 650 million tonnes of mineralised material 
and extend the life of its bingham canyon mine to 2028 while 
maintaining additional long term options kennecott utah copper 
is also developing the molybdenum autoclave process map an 
alternative that will replace third party roasting commissioning  
of the facility is planned to begin in late 2012
northparkes’ e48 block cave project has increased resource tonnes 
and is expected to extend the mine’s life to 2023 by the end of 
2012 northparkes will begin testing a continuous mechanical 
rock excavation system this breakthrough technology improves 
the speed and development of underground operations and allows 
recovery of valuable resources from increasingly difficult deposits
palabora mining company is evaluating expansion alternatives to 
extend the copper mine beyond the current profile these options 
include growth of lift i through an area known as the western 
extension and a second lift below current mining activities 
in addition the company continues to monitor security at 
grasberg following several shooting incidents from mid 2009 to 
january 2010 the last reported incident was on 24 january 2010 
which resulted in a number of injuries there were no fatalities in 
2010 the indonesian government has responded with additional 
security forces and grasberg has taken precautionary measures 
mining and milling activities have continued uninterrupted 
in september a third party train derailment destroyed the rail line 
linking palabora operations to key ports fortunately there were no 
injuries the event did not have a material impact on the production 
transportation and sale of copper and copper rod to customers 
however it did affect magnetite sales 
at each of its operations the copper group is committed to 
sustainable development and community partnerships 
in 2010 kennecott received the utah division of oil gas and 
mining dogm earth day award for the restoration of its historic 
magna concentrator this award recognises industry leaders that 
voluntarily exceed regulatory requirements to protect and  
improve the environment 
in june 2010 palabora mining company entered into a broad 
based agreement with its new partners under the agreement 
the company will effectively sell 26 per cent of its operations and 
assets to a newly incorporated subsidiary owned by employees 
the community and a consortium the agreement is consistent 
with the country’s black economic empowerment act which 
requires mines in south africa to be at least 15 per cent owned by 
historically disadvantaged south africans this requirement will 
increase to 26 per cent by 2014 
copper cathode – greenhouse gas emissions intensity
indexed relative to 2008
937
2009 813
2006 2007 2008 2009 2010
846
727
1000
813
937 wwwriotintocom 49
overview performance
production reserves 
and operations governance financial statements additional information
development projects
the copper group is pursuing a strong pipeline of projects and has 
a first class growth profile in developing new projects the group 
works to proactively manage risk and create a solid sustainable 
operating environment 
oyu tolgoi rio tinto 421 per cent interest in ivanhoe 
mines limited
when oyu tolgoi in mongolia’s south gobi desert reaches full 
production in 2018 it is expected to be a top ten copper producer 
and one of the world’s biggest gold producers with first quartile 
production costs
in late 2010 rio tinto secured the right to increase its ownership 
in ivanhoe mines to 49 per cent by 18 january 2012 ivanhoe 
holds a 66 per cent interest in oyu tolgoi llc rio tinto has 
become the development and operating manager of oyu tolgoi 
and has agreed to provide a comprehensive financial package to 
ivanhoe to help secure the development of the project
the transition of management of oyu tolgoi to rio tinto has 
officially started with a vision to safely deliver on schedule and 
on budget to be firmly aligned with rio tinto’s strategy values 
and standards for excellence and fully deliver on its commitment 
to employ approximately 90 per cent of the project’s workforce from 
mongolia – representing around 3000 to 4000 direct jobs including 
contractors
resolution copper rio tinto 55 per cent
resolution copper in arizona us hosts what is the world’s third 
largest undeveloped copper resource the first production is 
expected in 2020 the site is in the midst of a prefeasibility study 
and indications of this work are that the operation would likely be 
capable of producing 600000 tonnes of copper per year in 2010 
resolution copper advanced development of a new exploration 
shaft and provided more than one billion gallons of treated water 
from historic mine workings to farmers to irrigate their crops 
la granja rio tinto 100 per cent
based on exploration drilling la granja – in peru’s cajamarca 
region – is the world’s ninth largest undeveloped copper resource
in 2010 evaluation work entered a divergent phase to assess the 
potential of new geological discoveries and to identify higher 
value lower risk options for development an optimal business 
case is still being developed however the project has a clear 
direction for development utilising conventional technologies 
which has yet to incorporate a recently discovered higher grade 
zone of mineralisation drilling will continue in 2011 to confirm 
the extent of the new mineralisation 
kennecott eagle minerals rio tinto 100 per cent
construction of the us469 million eagle nickel and copper mine 
in michigan us began in 2010 with first production expected in 
late 2013 the mine is expected to produce on average 17300 and 
13200 tonnes per year of nickel and copper metal respectively 
over six years high quality sulphide nickel concentrates will 
increasingly be in short supply and eagle is one of the most 
attractive greenfield projects in the nickel industry pipeline eagle 
is located in a prospective region where rio tinto has significant 
land holdings and mineral rights
sulawesi rio tinto 80 per cent
sulawesi in indonesia is one of the world’s largest undeveloped 
nickel opportunities the deposit consists of an estimated 162 
million tonnes of resources with an average grade of 162 per cent 
having received the first licence under indonesia’s new mineral 
legislation tenure for the project has been secured and rio tinto is 
reviewing development options on 30 november 2010 rio tinto 
entered into an earnin agreement with sherritt international 
corporation sherritt must complete two phases of work including 
a feasibility study and spend us110 million on the project to earn 
a controlling 575 per cent equity interest in the holding company 
that owns the sulawesi project rio tinto will retain the remaining 
425 per cent for a net economic interest of 34 per cent
pebble rio tinto 198 per cent interest in northern 
dynasty minerals
the pebble project in alaska us is one of the world’s most 
significant undeveloped coppergoldmolybdenum deposits  
rio tinto has a 198 per cent equity holding in northern dynasty 
minerals which owns a 50 per cent share in the pebble joint 
venture according to northern dynasty pebble contains 594 
billion tonnes of measured and indicated resources containing 55 
billion pounds of copper 67 million ounces of gold and 33 billion 
pounds of molybdenum
bougainville copper limited rio tinto 538 per cent
access to the site in papua new guinea remains restricted 
however the company continues to progress plans for exploration 
and mining and is committed to working closely with the 
country’s leaders and local landowners
outlook
global electrification and growth in china and india along  
with a greater focus on renewable sources of energy should drive 
continued demand for copper while there may also be increased 
supply side challenges 
the grade profile of the copper group decreased in 2010 compared 
to 2009 while mine plans are continually optimised ore grades 
are impacted by the inherent constraints that face deeper more  
mature mines an anticipated decline in grade in 2011 is expected 
to see a rebound in 2012
using industry leading technology and innovation the copper group 
is expanding and extending the life of its properties with brownfield 
development and pursuing a strong pipeline of greenfield projects to 
create a growth profile 
rio tinto’s focus on sustainable development allows it to create 
stable operating platforms that take into consideration the long 
term needs of the surrounding environment and the community 
as a result the company can manage risk effectively reduce 
environmental impacts operate efficiently and attract and retain 
high calibre employees 
these factors combined with strong technological capabilities 
help differentiate rio tinto’s copper group from its competitors 
and contribute to the goal of being the undisputed sector leader  
in creating value for its shareholders 50 rio tinto 2010 annual report
the diamonds  minerals group is well positioned 
to benefit from late cycle demand growth in mature 
and emerging markets our businesses occupy strong 
positions in their respective sectors combining high 
quality assets with technical expertise and a robust 
understanding of our markets and customers
operating highlights
2010  
us million
2009  
us million
revenue 3035 2618
operating cash flow 510 528
underlying earnings 
a
328 800
capital expenditure 300 519
net operating assets 4580 4612
strategy
 to maximise shareholder value by contributing material earnings to 
rio tinto and delivering better than comparable industry returns
 to benefit from increasing demand for diamonds  minerals’ products 
by improving the efficiency of the group’s existing assets building the 
growth projects in its pipeline and growing through value accretive 
acquisitions in existing and new sectors
 to share best practices in safety and community engagement in order 
to maintain employer and developer of choice status across the six 
continents that constitute our operations base
key achievements
 lowest all injury frequency rate among rio tinto product groups
 commenced underground ore production at the diavik diamond mine
 gained approval and funding to complete the argyle diamond mine 
underground project in australia
 launched a prefeasibility study for the bunder diamond project india 
 delivered flexibility and efficiency improvements through a new labour 
agreement at rio tinto minerals’ rtm boron operations in california
 received a binding offer in early 2011 from imerys to acquire rio tinto’ s 
talc business for an enterprise value of us340 million 
 expanded deposit boundaries and identified additional sodium borate 
mineralisation at jadar a lithium and borates development project  
in serbia
 rio tinto iron  titanium rtit increased titanium dioxide 
production by 21 per cent compared to 2009 in response to 
improved market conditions
 achieved the first full year of production of ilmenite ore at qit 
madagascar minerals qmm
 progressed construction of the tailings treatment plant at  
richards bay minerals rbm ahead of start up in early 2011
key priorities
 continue to strive for zero harm to people across all operations
 deliver material earnings and cash flow to rio tinto and generate 
better than comparable industry returns
 differentiate rio tinto from other suppliers in diamonds  minerals’ 
markets by providing a reliable supply of high quality products 
technical expertise and marketing support programmes
 ramp up to full production at qmm
 progress development projects to plan
 achieve incremental expansions at rio tinto fer et titane rtft  
and boron through efficiency and technology improvements
 identify and execute opportunities for inorganic growth
outlook
 following recovery in 2010 the outlook for the product group’s 
markets is favourable driven primarily by increased demand from 
emerging markets 
 the medium to long term fundamentals for the diamond industry  
are positive
 demand growth offers opportunities across titanium dioxide and borates
diamonds  minerals overview
diamonds  minerals
differentiation in the marketplace 
contribution to group operating cash flow
2
harry kenyonslaney chief executive diamonds  minerals
underlying earnings contribution 2008 – 2010 
a
2008
prices and exchange
inflation
volume
costs
0
tax and other 
b
2009
prices and exchange
inflation
volume
costs
tax and other 
b
2010
us million
474
298
328
706
42
138
31
169
800
805
88
245
24
b includes us797 million gain on the sale of potash assets in 2009
a see note 2 and the “financial information by business unit” section of the 2010 financial statements for a reconciliation of underlying earnings to net earnings wwwriotintocom 51
overview performance
production reserves 
and operations governance financial statements additional information
strategy
the diamonds  minerals group’s core purpose is to maximise 
shareholder value by safely and efficiently mining processing and 
marketing diamonds and minerals the group seeks to differentiate 
rio tinto from other suppliers in its markets by providing a reliable 
supply of high quality products technical expertise and marketing 
support programmes many of its businesses operate in remote 
and environmentally sensitive locations where we have focused 
on developing leading community relations and sustainable 
development practices to become a development partner of choice 
rio tinto believes that similar industry dynamics to those that drove 
the growth in iron ore copper and coal demand are forming in a 
number of mineral sectors the group’s strategy aims to position its 
businesses to make the most of these changing market fundamentals 
and will be delivered along three principal pathways
 progressing underlying business performance through 
operational and commercial improvement
 maintaining and expanding capacity through investment 
in the group’s existing businesses for example the argyle 
underground project and incremental capacity expansions  
at boron and rtft
 further growing the business through value accretive 
acquisitions in existing and new sectors
rio tinto diamonds’ strategy is to be the preferred global supplier 
of natural rough diamonds and to continue to operate manage 
and develop world class diamond resources safely efficiently  
and to the highest possible environmental standards
rtm’s strategy is to be the undisputed leader in value creation 
within the borate sector rtm seeks to leverage superior product 
quality reliability of supply and technical support to capture 
profitable growth in promising sectors and regions at its 
operations rtm will focus on increasing capacity while achieving 
world class safety performance and improving its position on the 
industry cost curve 
rtit’s strategy is focused on capturing profitable growth in titanium 
dioxide feedstock markets and maximising the value from its 
industry leading portfolio of resources processing facilities and  
coproduct capabilities rtit aims to grow titanium dioxide feedstock 
production to meet increasing demand while maximising coproduct 
contribution rtit will also dynamically drive cost efficiency to 
sustain or improve its position on the industry cost curve 
performance
in 2010 the diamonds  minerals group’s markets substantially 
recovered from the financial turmoil of late 2008 and 2009 
sustained demand from emerging markets largely offset the slower 
recovery from the established markets of the us and europe this 
has been reflected in higher prices and increased sales volumes 
leading to a 16 per cent increase in revenues
the product group continued to focus on improved operational 
performance rio tinto’s share of diamond production reached 
138 million carats with underground production commencing 
at diavik during the year strong demand growth in asia for 
borates offset delayed recovery in mature markets driving borate 
production increases of 18 per cent compared to 2009 titanium 
dioxide feedstock production increased by 21 per cent in response 
to improved market conditions while progress continues to be 
made at the qmm ilmenite mine in madagascar 
sales revenue of the diamonds  minerals group was us3035 million 
in 2010 us417 million higher than in 2009 reflecting higher prices 
and sales volumes in response to improved economic conditions 
adjusting for the oneoff us797 million gain on the sale of potash 
assets in 2009 2010 underlying earnings of us328 million were 
us325 million higher than 2009 reflecting revenue growth and tax 
benefits largely associated with a oneoff charitable donation of land
improved rough diamond prices and sales volumes were reflected in 
a 52 per cent improvement in rio tinto diamonds’ sales revenue in 
2010 compared with 2009
rtm’s borates and talc businesses secured additional price 
increases as markets recovered and met an aggressive target  
to increase ebitda by 12 per cent from a 2009 baseline
in december 2009 a broad based black economic empowerment 
bbbee restructuring was completed at rbm which reduced  
rio tinto’s equity share in the business from 50 per cent to  
37 per cent despite this rtit’s revenue increased by  
four per cent reflecting stronger demand for titanium dioxide 
feedstock and increased prices for its metallic products
an impairment charge of us115 million after tax was recognised 
on the diamonds portfolio assets to reduce their carrying value 
to an estimated recoverable amount this is not included in 
underlying earnings
key achievements
diamonds
the first ore was produced from the diavik underground mine in 
canada in march 2010 underground operations will steadily increase 
and the remaining open pits are expected to be depleted by 2012 
in september 2010 rio tinto approved the investment of us803 
million to complete the argyle underground project in australia 
following a transition from the current open pit operation the 
mine is expected to be fully operational in 2013 the project is 
expected to extend the life of the mine until at least 2019
a prefeasibility study of the bunder project in madhya pradesh 
india commenced in july 2010 and in october 2010 the government 
of madhya pradesh signed a state support agreement with  
rio tinto for the project these are critical milestones in the 
ongoing development of the mine which will be the first hard rock 
diamond mine in india 
minerals
demand recovery for borates across all market sectors – particularly 
in asia – led to an 18 per cent increase in borate production compared 
with 2009 talc demand recovery was driven primarily by the 
polymers sector and production levels increased by 13 per cent 
boron forged a new labour agreement that lays the groundwork 
for improved work practices and productivity enhancing the 
business’s competitive position through the life of the operation
rtm upgraded its distribution and packaging facility in malaysia 
commissioned a new talc beneficiation plant in australia and 
announced plans to open an asian technology center in 2011 to 
create competitive advantage in the business’s most promising 
growth region
in february 2011 rio tinto received a binding offer from imerys to 
acquire its talc business for an enterprise value of us340 million 
a period of exclusivity with imerys has been agreed and rio tinto 
will respond to this binding offer following consultation with the 
relevant european works councils 52 rio tinto 2010 annual report
production of titanium dioxide feedstock increased by 21 per cent 
compared with 2009 in response to improved market conditions 
rtit reacted quickly to stronger demand by returning to full 
output following capacity reductions made in response to the 
global financial crisis
qmm completed its first full year in operation following the first 
shipment of ilmenite ore in mid 2009 and the final product is 
being well received by the market qmm has experienced difficult 
mining conditions since commissioning but production is increasing 
as technical issues are addressed the implementation of dry 
mining in 2011 is expected to double throughput by year end 
further options to increase throughput are being evaluated 
construction of the tailings treatment plant at rbm progressed in 
2010 under budget and on schedule the project will extract zircon 
rutile and ilmenite from tailings from early 2011
safety
safety improvement and awareness continued to be a major focus 
of all operations initiatives included the piloting of the site safety 
acceleration programme at rbm and the creation of the diamonds 
 minerals collaborative forum to drive benchmarking and share 
best practice in 2010 the product group’s all injury frequency rate 
aifr was 051 compared to 071 in 2009 
all diamond sites achieved exceptional safety performances 
in 2010 with their aifr improving to 036 from 065 in 2009 
in 2010 the diavik mine won the canadian industry’s most 
prestigious safety award – the national john t ryan safety trophy 
for its safety performance
rtm reduced aifr by 24 per cent to 065 in 2010 rtm’s houston 
operations were recognised for safety leadership through 
rio tinto’s chief executive safety award and rio tinto’s us 
operations were recognised by the mine safety and health 
administration as among the safest in the country
all rtit operations improved their safety performance in 2010 
with the total aifr improving to 052 qmm achieved one of the 
group’s lowest aifrs at 020 with a largely new workforce
greenhouse gas emissions
all diamond sites maintained or reduced their greenhouse gas 
emissions in 2010 compared to 2009 and are working on a 
number of initiatives to ensure continuous improvements are in 
place a key focus is reducing fuel consumption and investigating 
alternative power options
across rtit’s operations total greenhouse gas emission intensity 
decreased by nine per cent reflecting increased operating 
efficiencies achieved as production levels increased engineering 
work on the electricity cogeneration project at rbm is continuing 
and will contribute to future reductions in emissions by generating 
electricity from waste gas
rtm’s global operations continued efforts to reduce greenhouse 
gas emissions and set new targets to lower them by two per cent 
per tonne of product from 2008 levels by 2013 key initiatives 
include improving energy efficiency in processing plants harvesting 
reclamation ponds and inpit dumping of overburden
review of operations
rio tinto diamonds
argyle rio tinto 100 per cent
the diamonds group owns and operates the argyle diamond mine in 
the east kimberley region of western australia argyle continued to 
operate its surface mine while undertaking minimal construction of 
an underground block cave mine below the existing open pit in the 
first half of 2010 
diamond production in 2010 was 98 million carats seven per cent 
lower than 2009 reflecting the fact that the open pit mine is in 
the final stages of production with lower ore grades prior to an 
underground mine accessing higher grade ore
diavik rio tinto 60 per cent
the diamonds group operates the diavik diamond mine located 
approximately 300km north east of yellowknife in the northwest 
territories canada it is an unincorporated joint venture between 
rio tinto and harry winston diamond corporation 
the diavik mine currently comprises three diamond bearing 
kimberlite pipes that are being mined using open pit and 
underground mining methods the first underground mine 
production occurred in march 2010 and will steadily increase  
the remaining open pits are expected to be depleted by 2012  
the underground operation will extend the life of the diavik  
mine until 2022 a fourth pipe the a21 pipe is being reviewed  
to determine its viability
diamond production in 2010 was 39 million carats rio tinto 
share compared with 2009 production of 33 million carats 
reflecting a significant increase in ore processed
murowa rio tinto 778 per cent
the murowa mine has been operating as a small open pit since 
2004 and is owned by rio tinto 778 per cent and riozim 
diamonds  minerals continued
titanium slag and iron – greenhouse gas emissions intensity
indexed relative to 2008
1049
2009 1093
2006 2007 2008 2009 2010
1027 1023
1000
1093
1049
all injury frequency rate
per 200000 hours worked
051
2009 071
2006 2007 2008 2009 2010
085
089
056
071
051 wwwriotintocom 53
overview performance
production reserves 
and operations governance financial statements additional information
limited 222 per cent an independent zimbabwean listed entity 
rio tinto’s share of production in 2010 of 139000 carats was 
above the 97000 carats in 2009 as a result of a modest capacity 
expansion in the process plant murowa is considering expanding 
the existing open pit to increase production and the previous 
feasibility study for this expansion is currently being reviewed
in 2010 murowa diamonds received the zimbabwe national 
chamber of commerce award for the best corporate social 
responsibility programs 
rio tinto minerals rio tinto 100 per cent
the business comprises borates and talc mines refineries and 
shipping and packing facilities on five continents that operate 
under the rio tinto minerals banner approximately 815000 
product tonnes of refined borates are produced at boron 
operations the principal borate mining and refining operation 
in california’s mojave desert rtm also operates talc mines – 
including the world’s largest in southern france – and processing 
facilities in austria australia belgium canada france italy 
japan mexico spain and the us
in 2010 total borates production rose by 18 per cent to 500000 tonnes 
of boric oxide on the back of strong recovery in asian demand 
total talc production increased by 13 per cent to one million 
tonnes in 2010 with stronger sales in the polymer sector and 
recovery in paint and paper markets
rio tinto iron  titanium
rio tinto iron  titanium rtit comprises 
 the wholly owned rio tinto fer et titane rtft formerly qit  
in quebec canada 
 an 80 per cent share in the qit madagascar minerals qmm 
ilmenite project in madagascar and 
 a 37 per cent interest in and management of richards bay 
minerals in kwazulunatal south africa
both rtft and rbm produce titanium dioxide feedstock used 
by customers to manufacture pigments for paints and surface 
coatings plastics and paper and the production of titanium 
metal they also produce iron steel and zircon coproducts qmm 
produces ilmenite from beach sands which is shipped to canada 
for processing into titanium dioxide slag
in 2010 titanium dioxide production increased by 21 per cent 
compared with 2009 the market for titanium dioxide feedstock 
has recovered quickly from the global financial crisis which led to 
a sharp decline in demand in 2009 in response rtit’s operations 
have returned to full capacity producing 1392000 tonnes of 
titanium dioxide feedstock rio tinto share this increase has 
been achieved despite the reduction in the rio tinto share of  
rbm production from 50 per cent to 37 per cent following the 
bbbee restructuring in late 2009 and reflects increased output  
of ilmenite from qmm in madagascar 
development projects
the bunder project rio tinto 100 per cent in madhya pradesh is 
rio tinto’s most advanced diamond project and the most important 
diamond discovery in india for many decades located 500km 
south east of delhi the bunder project’s order of magnitude study 
identified an inferred resource of 274 million carats rio tinto 
applied for a mining lease in 2008 has constructed an on site 
sample processing plant to evaluate drilling and surface samples 
and is working on detailed studies for the mine’s development  
in october 2010 the government of madhya pradesh signed a state 
support agreement with rio tinto as further endorsement of the 
bunder project
in september 2010 the rio tinto board approved a further  
us803 million to complete the construction of the argyle 
underground mine argyle will continue the transition to 
underground mining until 2013 by which time it is expected to  
be a wholly underground mine with a life through to at least 2019
exploration drilling in serbia resulted in expanded deposit 
boundaries and the identification of a new sodium borate 
mineralisation at jadar a lithium and borate development project 
with considerable economic potential the deposit is one of the 
largest undeveloped lithium deposits in the world if developed  
it is expected to be in production within five to six years
outlook
the diverse markets being served by the group’s operations are 
linked by a strong connection to end consumer markets consumer 
sentiment and spending habits following recovery in 2010 the 
outlook for the group’s markets is generally favourable driven by 
increased demand from asian countries 
diamonds
following 2009 inventory depletions the diamond supply chain  
was gradually replenished in 2010 diamond demand from emerging 
markets accelerated while production levels remained relatively 
low in comparison with 2008 as a result rough diamond prices 
demonstrated a robust recovery throughout 2010 in the short run 
the sustainability of this recovery will be in part dependent on us 
consumer confidence the medium to long term fundamentals for 
the diamond industry are positive
minerals
socioeconomic trends driving energy efficiency in housing and 
transportation urbanisation in emerging economies and more 
sustainable farming practices will drive increased intensity of 
demand for borates segmentation and pricing strategies are in place 
to support shifts between regions and end uses through different 
consumer and economic cycles supply chain flexibility will be 
enhanced by establishing bulk delivery stock points in promising 
growth regions the borate business is positioned for strong growth 
and industry leading returns in the near and long term
demand for titanium dioxide feedstock is driven mainly by the 
pigment industry the market recovered sharply in 2010 with high 
capacity utilisation rates driven in part by a steady rise in demand 
in china and other developing countries rising demand is likely to 
drive prices to structurally higher levels in the coming years
rtit is well placed to benefit from improved market conditions as 
production increases following capital investment in qmm and its 
established operations in recent years 54 rio tinto 2010 annual report
rio tinto’s energy group will meet strong future 
demand for energy and steel and maximise 
shareholder return through operating and  
growing its global coal and uranium portfolio
operating highlights
2010  
us million
2009  
us million
revenue 5652 4869
operating cash flow 2463 2069
underlying earnings 
a
1187 1167
capital expenditure 685 510
net operating assets 3694 2809
strategy
 the energy group is focused on safely supplying the world’s growing 
energy needs through the responsible and sustainable development 
and operation of large scale long life cost competitive assets
 the group aims to be a sector leader in the development and 
operation of the world’s coal and uranium resources
 the group seeks to build strong customer relationships and provide 
superior customer outcomes while earning significant premiums to 
the market 
 the group is pursuing opportunities for growth to meet expanding 
global energy demand while continuing to focus on operational 
excellence community engagement and environmental performance 
to ensure it is the developer of first choice
key achievements
 commissioning of the new clermont mine in queensland an open cut 
thermal coal mine due to reach annual peak production of 122 million 
tonnes in 2013
 feasibility study started into the open cut thermal coal mount 
pleasant project 
 australian hard coking coal production increased by 20 per cent in 
2010 and set a new record of 24 million tonnes in the third quarter
 a successful heap leach processing trial at rössing and finalising 
work on a proposed exploration decline at energy resources of 
australia’s ranger mine
 completion of a detailed study of global energy demand to support 
strategic decision making and growth planning 
 announced a recommended cash offer for riversdale mining 
limited if successful this acquisition would provide rio tinto with a 
coking coal development pipeline in the emerging moatize basin in 
mozambique in line with our established strategy
 divestment of rio tinto’s remaining 48 per cent equity holding in 
cloud peak energy inc gross proceeds of us573 million
key priorities
 continued focus on operational excellence in particular safety 
performance to achieve the group’s goal of zero harm 
 expanding and developing existing assets to meet the strong demand
 focusing on exploration and strategic acquisition andor joint  
venture arrangements
outlook
 the world’s demand for energy and steel production is expected to 
grow strongly in coming decades driven by increasing populations 
and industrialisation in large developing countries
 the forecast growth in demand for coal over coming decades  
for both energy and steel production presents a significant 
opportunity to target expanding export markets particularly  
in the asia pacific region
 global demand for uranium is expected to remain strong due to a 
desire for base load electricity generation with reduced greenhouse 
gases as well as the need for energy security diversity of supply and 
strong growth plans in china
energy overview
energy
portfolio positioned to meet growing demand
contribution to group operating cash flow
10
doug ritchie chief executive energy
underlying earnings contribution 2008 – 2010 
a
2008
prices and exchange
inflation
volume
costs
0
tax and other
2009
prices and exchange
inflation
volume
costs
tax and other
2010
us million
2432
729
1187
241
177
58
28
74
1167
528
43
20
31
a see note 2 and the “financial information by business unit” section of the 2010 financial statements for a reconciliation of underlying earnings to net earnings wwwriotintocom 55
overview performance
production reserves 
and operations governance financial statements additional information
strategy
rio tinto expects strong growth in energy demand in all markets 
including coal and uranium from energy per capita growth and 
population growth dominated by china and india
electricity demand outpaces overall energy demand and this should 
translate into good opportunities for thermal coal and uranium
while nuclear and renewable energy will grow strongly in coming 
years coal is set to remain a significant part of the world’s future 
energy mix as it is abundant relatively cheap and there is 
significant recently installed capacity
the energy group’s coal assets are well positioned to service 
the future demand growth in asia and include long life cost 
competitive assets that are viable throughout the economic cycle 
existing operations have expansion opportunities and steps are 
under way to progress these 
while rio tinto benefits from this growth in energy demand it is 
concerned by the threat of climate change and has accepted the 
need for global reductions in greenhouse gas emissions rio tinto 
invests heavily to reduce emissions from its own operations  
rio tinto also contributes to global efforts to reduce emissions  
by participating in the development of low emission technologies 
running strong product stewardship programmes and assisting 
governments with the development of sound policies
rio tinto has continued to sell noncore coal assets in the energy 
group with the divestment in 2010 of cloud peak energy inc and 
the completed sales of the coal projects maules creek and vickery 
in the gunnedah basin in new south wales a process also began 
in 2010 to divest the colowyo mine in the us
given uranium’s low greenhouse gas emissions and strong demand 
the energy group is pursuing growth opportunities and in 2010 
progressed work to further define available resources at both 
rössing and era rössing began a statutory approval process 
ahead of a proposed expansion while era completed detailed 
planning of its ranger 3 deeps resource
the energy group’s long term strategy is centred firmly on 
expanding existing capacity and securing opportunities for 
growth while maintaining superior margins as a reliable long  
term supplier with consistently high standards of operation 
performance
the energy group’s 2010 sales revenue was us5652 million and 
its underlying earnings were us1187 million compared with 
sales revenue of us4869 million and underlying earnings of 
us1167 million in 2009
rio tinto coal australia’s rtca 2010 contribution to underlying 
earnings was us940 million us77 million lower than in 2009 
due mainly to a stronger australian dollar especially in the second 
half of the year outweighing the impact of stronger coal prices 
throughout 2010 rtca’s total coal production was 476 million 
tonnes rio tinto share 305 million tonnes slightly higher than 
2009 production
rtca’s hard coking coal production increase was assisted by 
equipment investment and operational improvements rtca’s 
thermal and semisoft coking coal production was seven per cent 
lower mainly due to wet weather impacts in the hunter valley 
and the scheduled ramp down of blair athol mine which was 
partly offset by the ramp up of clermont mine which became 
operational in april monsoonal rain and flood impacts on 
mining operations road and rail access at rtca’s four queensland 
mines in december 2010 led to a force majeure declaration on 
sales contracts at those mines
energy resources of australia era contributed us22 million in 
2010 to underlying earnings compared with us138 million in 
2009 total production for 2010 was 86 million pounds uranium 
oxide on a 100 per cent basis 2009 115 million pounds the 
reduced production was primarily due to lower than expected 
milled ore grade of 019 per cent compared with 026 per cent 
in 2009 earnings were impacted by the strengthening of the 
australian dollar and higher cash costs sales of uranium oxide 
decreased in 2010 to 111 million pounds compared with 121 
million pounds in 2009 unseasonal late rains in april 2010 
and an early start to the 20102011 wet season also restricted 
pit access and delayed mine schedules in january 2011 era 
announced a 12 week suspension of processing operations as a 
precautionary measure due to a higher than average wet season 
rössing uranium recorded a loss of us3 million us27 million 
below 2009 predominantly attributable to an adverse exchange 
rate impacting production costs earnings recovered in the second 
half of the year when some sales occurred from volumes deferred 
from the first half rio tinto’s share of uranium oxide production 
in 2010 was 55 million pounds a 13 per cent decrease on 2009 
levels due to lower average feed grade
key achievements
australian hard coking coal production increased by 20 per cent in 2010
clermont mine became operational in april and produced 38 million 
tonnes of coal in 2010
era completed detailed planning for a proposed underground 
exploration decline to conduct close spaced exploration drilling to 
further define the extent of the ranger 3 deeps mineral resource 
identified in late 2008 
safety
all operations across the energy group continued the focus on 
reducing injuries through leadership simple and effective systems 
and personal commitment to safety this includes increasing 
the focus on significant potential incidents which are defined 
as incidents that may not have caused actual harm but had the 
potential to cause significant harm
the energy group’s aifr increased slightly to 071 during 2010  
mainly due to an increase in incidents at rössing and the divestment  
of cloud peak energy
rtca’s aifr of 058 was an improvement from 060 in 2009 and its 
injury severity rate decreased significantly
in 2010 era recorded a four per cent increase on its aifr compared 
with 2009 however era achieved 135 million hours and equalled 
a record number of consecutive days without a lost time injury
rössing’s safety performance of 095 aifr in 2010 increased 
compared with 2009 however a safety acceleration programme 
implemented at mid year is expected to help deliver improved 
safety performance in 2011
colowyo reduced its rate of injuries by more than a third achieving 
an aifr of 065 in 2010 compared with 102 in 2009 56 rio tinto 2010 annual report
energy continued
greenhouse gas emissions
the energy group is committed to a future where energy is about 
sustainable practices that will lead to a low carbon future initiatives 
at each operation are helping to reduce greenhouse gases while the 
group is continuing to dedicate resources to the development of low 
emissions coal technology
greenhouse gas emissions intensity increased across the australian 
coal business in 2010 however a coal seam methane pilot project 
was completed by coal  allied at the mount thorley warkworth 
operation the purpose of the three year project was to test the 
feasibility of premining drainage and use of methane from shallow 
coal seams that will be mined using open cut methods other trials 
will be considered after further drilling to measure the gas content 
in coal that is yet to be mined the drilling and gas measurement 
programme which is being rolled out across all rio tinto coal sites 
in new south wales including mount pleasant is expected to be 
completed in 2011
in 2010 total production of uranium oxide from rio tinto’s uranium 
mines in australia and namibia was 166 million pounds and total 
production of thermal coal from rio tinto’s australian coal mines 
was 318 million tonnes the electricity that will be generated from 
these energy products is estimated to be 390twh terawatt hours 
this is equivalent to the combined amount of electricity that was 
consumed in australia indonesia and iceland in 2008 source iea 
world energy statistics 2010
era improved energy efficiency and reduced carbon dioxide 
equivalent emissions through the rebuild of power station generators
rössing did not meet the set energy efficiency and emissions target 
due to mining and processing constraints as expected because of 
less ore mined lower grade ore and a high calcium carbonate index 
the operation is also aggressively stripping waste and widening the 
open pit to expose higher grades of ore 
colowyo’s continuing haul road optimisation work aims to maintain 
greenhouse gas reductions achieved in prior years
review of operations
rio tinto coal australia rio tinto 100 per cent
rtca manages the group’s australian coal interests these include  
the blair athol rio tinto 712 per cent kestrel rio tinto 80 per cent 
hail creek rio tinto 82 per cent and clermont rio tinto  
501 per cent coal mines in queensland 
rtca also provides management services to coal  allied industries 
coal  allied for operation of its four mines located in the hunter 
v alley in new south wales coal  allied rio tinto 757 per cent is 
publicly listed on the australian securities exchange and had a market 
capitalisation of a104 billion us106 billion at 31 december 2010 
coal  allied wholly owns hunter v alley operations has an 80 per 
cent interest in mount thorley operations a 556 per cent interest 
in the contiguous warkworth mine and a 40 per cent interest in the 
bengalla mine adjacent to its wholly owned mount pleasant project 
coal  allied also has a 365 per cent interest in port waratah coal 
services pwcs which operates the kooragang and carrington coal 
port terminals in newcastle 
2010 saw continuing strength in the seaborne market for 
australian coal with growth in demand for thermal coal 
continuing from south korea india taiwan and china global 
steel demand improved in all markets in 2010 and led to strong 
demand for semisoft coking coal the market for premium 
quality hard coking coal remained solid in 2010
energy resources of australia rio tinto 6839 per cent
era is a publicly listed company and had a market capitalisation 
of a21 billion us22 billion at 31 december 2010 since 1980 
era has mined ore and produced uranium oxide at its ranger 
open pit mine 250km east of darwin in australia’s northern 
territory era also holds title to the adjacent jabiluka mineral 
lease ranger and jabiluka are surrounded by but remain separate 
from the world heritage listed kakadu national park era’s 
operations are subject to stringent environmental requirements 
and governmental oversight
in 2010 era maintained its 30 year history of protection of the 
surrounding environment with the australian government’s 
supervising scientist division reporting in its 20092010 annual 
report that extensive monitoring and research programmes 
confirm that the kakadu environment “has remained protected” 
era has invested a112 million towards water management 
improvements across its entire operation and additional real time 
water quality sensor points in local waterways have improved 
era’s ability to monitor releases and protect the environment
a programme of infill drilling within ranger pit commenced in 
october 2010 to confirm confidence in the resource as a result 
of this work and pit redesign due to a localised area of instability 
on the south wall the ranger in situ reserves were reduced by 
approximately 2400 tonnes
australian coal – greenhouse gas emissions intensity
indexed relative to 2008
1079
2009 981
2006 2007 2008 2009 2010
862
957
1000
981
1079
all injury frequency rate
per 200000 hours worked
071
2009 067
2006 2007 2008 2009 2010
089
090
087
067
071 wwwriotintocom 57
overview performance
production reserves 
and operations governance financial statements additional information
rössing uranium rio tinto 6858 per cent
rössing uranium produces and exports uranium oxide from 
namibia to power utilities globally its core purpose is to maximise 
the value delivered to shareholders by being a safe significant 
and growing long term supplier of uranium
rössing plays a major role in the namibian economy both in terms 
of gdp contribution of around 38 per cent as well as employment 
education and training opportunities the rössing foundation set 
up 30 years ago continued to provide various education and training 
programmes and is recognised as a major contributor to sustainable 
development in namibia
a social and environmental impact assessment was commissioned 
in 2010 ahead of the mine’s proposed expansion activities and 
following drilling work in existing and new areas surrounding 
the current open pit to investigate the extent of the uranium ore 
available within the rössing mining licence area
the latest life of mine plan sees the operation continuing to 
2023 however it requires a large increase in stripping for the next 
three years to open up new areas of the pit a combination of 
additional equipment and operational performance improvements 
were implemented in 2010 to deal with the extra mining requirements 
as efficiently as possible a similar focus in the plant increased 
plant throughput and improved recovery rates by three per cent
heap leach is a key initiative to increase production and reduce 
operating costs and trials were successfully undertaken in 2010 
rössing also continued to progress other potential value enhancing 
projects including a new tailings facility and an onsite acid plant
colowyo coal company rio tinto 100 per cent
colowyo coal company produces thermal coal in northwest 
colorado the company intends to fulfil a long term contract 
with its sole remaining customer a power generator located in 
northwest colorado this contract expires at the end of 2017 
in the absence of divestment or the development of additional 
customers the expiration of the contract will be followed by 
closure and completion of reclamation of the mine site
development projects
the energy group’s main coal development project in australia is 
the extension of the kestrel mine with first production expected 
in early 2013
a feasibility study commenced in november 2010 for the mount 
pleasant project an already consented open cut thermal coal 
mine proposal in the upper hunter valley consent modifications 
are being sought to provide options that may reduce capital costs 
and allow more efficient operations
in new south wales the start of a long term commercial 
framework relating to port capacity to facilitate industry growth 
is showing results to date the framework has seen coal producer 
nominations and the allocation process trigger the requirement 
for pwcs to take its terminal capacity to 145 million tonnes a 
year mtpa expected by 2013 the process has also triggered the 
requirement for pwcs to develop a fourth terminal meanwhile 
the externally owned and operated newcastle coal infrastructure 
group commissioned its stage one 30mtpa terminal in april 2010 
and has announced financial close on an expansion to take its 
port capacity to 53mtpa negotiations on belowrail arrangements 
in the hunter valley region are continuing
rtca has secured additional port capacity in the first stage of the 
abbot point expansion to meet its production requirements for 
growth in queensland
era completed detailed planning for a proposed underground 
exploration decline to conduct close spaced exploration drilling to 
further define the extent of the ranger 3 deeps mineral resource 
identified in late 2008 this proposal is in the final stages of era’s 
approval process with a final decision expected in the second 
quarter of 2011
era is progressing work on a feasibility study into a proposed 
heap leach facility at ranger targeting the recovery of 33 million 
to 44 million pounds of uranium oxide from low grade ores 
outlook 
the energy group’s increased capital expenditure in 2010 will 
continue in 2011 to expand operations to meet forecast demand 
growth in coming years
rio tinto’s energy group expects 2010’s strong thermal coal 
demand will continue through 2011 with continued pressure 
on prices due to wet weather constraints to coal production in 
australia indonesia and colombia in late 2010early 2011
the group expects that coking coal prices will remain high 
relative to historical levels given the lack of substitutes growing 
demand and lingering supply constraints due to the impact of 
recent weather
uranium spot markets strengthened in the second half of 2010 
mainly driven by strong demand from china and long term 
prices saw some small increases in late 2010 market demand is 
expected to remain strong in the coming years as new nuclear 
power capacity comes online 58 rio tinto 2010 annual report
following a decade of dramatic expansion we 
are well positioned to supply rising global iron ore 
demand through further capacity increases we will 
continue to drive performance through leadership in 
project delivery and operational excellence
operating highlights
2010  
us million
2009  
us million
revenue 24024 12598
operating cash flow 15915 7389
underlying earnings 
a
10189 4126
capital expenditure 1716 2148
net operating assets 11628 11263
strategy
 continue to build the pilbara operations as the leading iron ore 
supplier close to the world’s largest fastest growing markets 
 focus on implementing a major expansion programme while 
maintaining maximum production 
 continue to develop and benefit from technology innovation to  
deliver supply chain efficiencies maximising margins per tonne
key achievements
 record global iron ore production of 239 million tonnes  
rio tinto share 1846 million tonnes a ten per cent increase  
on 2009 global production 
 full ramp up of the operations centre in perth including transition  
of ports and new mines 
 opening of brockman 4 mesa a and western turner syncline mines 
subsequent decision to expand brockman 4 to 40 mta capacity  
and western turner syncline to 15 mta 
 approval to develop the us16 billion hope downs 4 mine  
and linking rail spur rio tinto share us12 billion
 improving on an already sector leading safety record in the context  
of high production levels and the complexities of expansion
 the employment of more than 900 aboriginal people in western 
australia through targeted recruitment and retention strategies 
 resuming expansion programme at iron ore company of canada ioc 
 opening the us503 million yurralyi maya power station rio tinto 
share us397 million providing more environmentally efficient 
power to support pilbara operations and communities
key priorities
 maintaining production and sales at nameplate capacity 
 advancing technological integration into the group’s operations 
through mine of the future™ initiatives 
 further improving the product group’s safety record towards  
zero harm 
 emphasis on operational efficiency removal of bottlenecks  
and cost control measures
 progress studies of total system capacity to 333 million tonnes  
per year in 2015 
 continued emphasis on brownfield developments to leverage  
an unrivalled network of assets close to existing infrastructure 
 advance new project development options outside of the pilbara
outlook
 market to remain tight for the short to medium term with delays  
to new supply and strong demand driving prices
 the iron ore group’s strategy and performance will continue to be 
driven by the rapid urbanisation and industrialisation in china and  
the steady recovery in other major asian markets
 india is expected to continue emerging as a major market as it follows 
china’s lead in urbanisation the group also remains confident in the 
longer term potential for other markets of south east asia central 
asia the middle east and africa
iron ore overview
iron ore
record performance operational efficiency and robust outlook 
contribution to group operating cash flow
68
sam walsh chief executive iron ore and australia
underlying earnings contribution 2008 – 2010 
a
2008
prices and exchange
inflation
volume
costs
0
tax and other
2009
prices and exchange
inflation
volume
costs
tax and other
2010
us million
6017
2920
10189
135
262
658
79
5611
4126
5
352
694
22
a see note 2 and the “financial information by business unit” section of the 2010 financial statements for a reconciliation of underlying earnings to net earnings wwwriotintocom 59
overview performance
production reserves 
and operations governance financial statements additional information
strategy
the iron ore group seeks to maximise shareholder return from  
its global assets through establishing a global supply chain able  
to deliver high grade iron ore to established and emerging markets 
worldwide 
we will continue our focus on operational and financial efficiency 
but our growth phase adds a new perspective of critical importance 
will be executing our capacity expansions in the pilbara and 
canada and progressing major development opportunities  
at simandou guinea and orissa india 
following the joint decision to end plans for an iron ore 
production joint venture with bhp billiton rio tinto is well 
positioned to maximise its leading role in the pilbara with 
superior expansion options and a strong record of project 
execution strategy will focus on increasing pilbara capacity by 
over 50 per cent in five years without compromising current 
operational efficiency 
a number of studies are well advanced to support the major 
increases in port and rail infrastructure a continued emphasis on 
brownfield developments where possible exploiting the group’s 
unrivalled network of assets close to existing infrastructure will 
improve timetomarket delivery and manage risk 
although a number of projects are under study in other regions 
a high priority has been attached to the early development of the 
simandou project in guinea key aspects of the legal status of the 
project are still to be clarified and management worked closely 
with the government of guinea throughout the year to progress 
this aim a historic binding agreement was signed with chalco 
in july paving the way for joint development of the simandou 
deposit following the guinean elections in late 2010 chief 
executive tom albanese visited conakry for further talks with 
the new administration to date more than us700 million has 
been spent in guinea on exploration environmental community 
development and evaluation work
rio tinto as the second largest provider of seaborne iron ore 
seeks to deliver its products across world markets as a reliable 
source of large volumes to agreed specification rio tinto can 
capitalise on superior supply chain logistics to deliver a consistent 
product such as the pilbara blend drawn from 11 of our 14 mines 
in the pilbara 
rio tinto is not committed to a specific pricing structure instead 
seeking to obtain the best price across its suite of products one 
recognising high value in use while respecting longstanding 
customer relationships
performance 
rio tinto’s global iron ore business achieved record performance 
in 2010 demonstrating not only the recovery of all major markets 
from the impact of the global financial crisis but also the capacity 
of the group to benefit from its position as a leading supplier 
in the seaborne iron ore market production was maintained at 
above nameplate capacity levels through most of the year leading 
to record production volumes 
as in 2009 the group implemented and refined measures to 
reduce expenditure as markets slowly recovered 
sales revenue of the iron ore group was us24024 million in 
2010 us11426 million higher than in 2009 mainly due to 
improved prices and higher volumes of ore sales
underlying earnings were us6063 higher than 2009 as the 
result of strong revenue growth and a continued focus on 
cost control cash flow optimisation increased equipment 
productivity reduction in process variability through 
standardisation and improvement in people intensity have all 
contributed to effective cost control strategies 
sales volumes from the pilbara region of western australia set a 
new record in 2010 at 223 million tonnes 100 per cent basis 
an increase of nine per cent compared to 2009 shipments to 
all major markets other than china increased as financial 
conditions improved earlier than expected 
2010 was also notable for the end of the traditional annually 
priced iron ore supply contracts in favour of shorter term pricing 
rio tinto maintained its position of providing a range of options 
to customers being able to supply ore under whichever pricing 
regime best fits within appropriate market dynamics 
at ioc rio tinto 587 per cent all pellet lines resumed full 
production and returned to normal concentrate and pellet 
proportions as markets improved total sales were 156 million 
tonnes up 96 per cent on 2009 and achieved despite significant 
weather related challenges 
in december the hismelt
®
 joint venture partners agreed to permanently 
close the kwinana site and terminate the joint venture following 
two years of care and maintenance the closure work is expected 
to be substantially completed by 2014 the technology business 
rio tinto share 100 per cent continues and a number of licensing 
opportunities are progressing 
key achievements
the ramp up of production levels was the standout achievement 
of the year with nameplate capacity met and in many cases  
exceeded from month to month this was particularly commendable 
given the widespread surge in industrial and economic activity 
throughout western australia’s resources sector which might 
have otherwise imposed delays and cost pressures 
as a result operating margins remained robust value was preserved 
through close focus on elimination of unnecessary cost and tight 
control over manageable overheads 
another achievement was the maintenance of business discipline 
throughout a year in which the proposed production joint venture 
with bhp billiton remained a high priority this discipline positioned 
the group well once the proposed joint venture was abandoned 
as in previous years technology and innovation was further 
embedded in enhanced operations a number of key initiatives 
were implemented during the year many under the pioneering 
mine of the future™ vision 
2010 saw the full ramp up of the operations centre in perth more 
than 400 employees are now remotely managing most key pilbara 
operations or planning future initiatives up to 1500km away 
a number of other innovation projects continued such as the 
commencement of teleremote shiploading in dampier and the 
continued successful trialling and deployment of driverless trucks 
and automated drilling and blasting at west angelas mine 
coinciding with the ramp up has been the greater deployment 
of aboriginal workers in the group the number of aboriginal 
workers and classa contractors exceeded 900 and a number 
of apprenticeship and training programmes have been targeted 
directly at attracting and retaining these employees 
embedding aboriginal businesses within the organisation’s  60 rio tinto 2010 annual report
iron ore continued
operations and projects is a priority more than a200 million  
in contracts were awarded to aboriginal businesses during 2010 
safety
there has again been a significant improvement in safety 
performance for the iron ore group in 2010 with the all 
injury frequency rate aifr dropping to 071 an 11 per cent 
improvement on 2009
two operations were recognised in the chief executive safety 
awards marandoo mine a most improved site award and the 
coastal operation division a commendation for its strong safety 
culture the safety leadership development programme continued 
to be implemented across iron ore sites in western australia
highlighting a greater focus on general health within the safety 
strategy a fatigue management programme a pilot wellness 
programme and programmes focusing on mental health and 
medical surveillance began
further improving the safety record while undertaking australia’s 
largest ever mining project will be a key challenge with this in 
mind the contractor forum initiative continued throughout 2010 
and a contractor safety leadership development programme was 
initiated in western australia
ioc’s performance was marred by a tragic accident in march 
two maintenance workers at the labrador city site fell from 
height resulting in fatal injuries to one of the men while the 
other eventually recovered fully and was able to return to work 
comprehensive studies resulted in a change action plan which 
has been fully implemented
greenhouse gas emissions
the iron ore group’s total greenhouse gas ghg emissions 
intensity has improved 47 per cent from 2008 
progress continued on the replacement of ageing power 
infrastructure in the pilbara with a new generation plant yurralyi 
maya near dampier progressively commissioned in the second half 
of 2010 the implementation of the cleaner technology is expected 
to produce 25 per cent less ghg emissions at the same production 
level compared with the existing steam power generation the 
option of retrofitting combined cycle equipment has been kept 
open to further reduce ghg emissions and improve efficiency
another technological improvement occurred with the integration 
of 51 evolution™ series diesel electric locomotives into the 
pilbara railway fleet replacing less efficient locomotives 
a number of localised innovative projects to reduce ghg emissions 
continued across the group rio tinto was a key participant in a 
landmark commercial biodiesel venture by the ashburton aboriginal 
corporation under which up to 7000 litres of waste cooking oil is 
provided for biofuel to be used for blasting at the tom price mine 
energy efficient devices continue to be introduced to housing and 
buildings on sites and in towns research into electricity generation 
hybrid engines and alternative fuels continue through the mine of the 
future™ programme in addition to the reduction in air travel implied 
the operations centre incorporates a range of innovative energy saving 
designs purpose built to reduce its environmental footprint
at ioc’s labrador city plant projects to reduce fuel and steam 
production costs resulted in a number of efficiencies which are 
estimated to produce ghg savings of 2200 to 3600 tonnes 
annually the second stage of a project to reduce fuel oil required 
to fire pellets was completed on three machines producing 
estimated ghg savings of approximately 5000 tonnes annually 
review of operations
production performance throughout 2010 was the group’s key 
achievement emphasising the quality of rio tinto’s suite of  
assets and its array of efficient logistics systems 
ian bauert previously managing director sales and marketing 
was appointed rio tinto’s managing director china as part of the 
rebuilding of close relations with that country the improvement 
of ties was highlighted by the hosting of a number of high profile 
events at the shanghai world expo where the australian pavillion 
was sponsored by rio tinto 
a number of new mines were completed in 2010 in february 
the us1 billion mesa a mine rio tinto share 53 per cent was 
opened ramping up through the year to reach its 25 million tonne 
annual capacity in late 2010 the western turner syncline mine 
was constructed through 2010 in september the us15 billion 
brockman 4 mine rio tinto share 100 per cent was opened 
supplying 22 million tonnes a year into the pilbara’s production 
and slated to expand to at least 40 million tonnes a year
in august rio tinto approved a us16 billion investment  
rio tinto share us12 billion in hope downs 4 mine the mine 
is expected to have a 15 million tonnes a year capacity to sustain 
current pilbara capacity with first ore expected in 2013
two incremental expansions increasing capacity at our two 
dampier port terminals by five million tonnes each were 
approved for a total investment of us321 million rio tinto 
100 per cent both are now well into implementation with 
completion scheduled for early 2011 and early 2012 
in april rio tinto confirmed it was discussing pricing of annual 
iron ore – greenhouse gas emissions intensity
indexed relative to 2008
953
2009 886
2006 2007 2008 2009 2010
751
804
1000
886
953
all injury frequency rate
per 200000 hours worked
071
2009 080
2006 2007 2008 2009 2010
127
098
091
080
071 wwwriotintocom 61
overview performance
production reserves 
and operations governance financial statements additional information
supply contracts on a quarterly basis following a significant shift 
in market expectations towards shorter term pricing rio tinto has 
pursued a flexible portfolio approach providing a range of options 
to customers rio tinto recognises that the market dynamics will 
remain fluid given underlying cyclical structural and domestic 
industry regulatory policy changes 
the taxation debate in australia prompted a delay in the roll out 
of rio tinto’s ambitious expansion programme as greater clarity 
and assurances were sought and ultimately received from the 
commonwealth government as to the regime under which major 
expansions would occur 
in june the australian competition tribunal decided not to “declare” 
rio tinto’s principal railway line in the pilbara the hamersley line 
mandated open for third party access the tribunal also decided that 
the robe river line should be “declared” open for access but only 
until 2018 rather than for 20 years as the applicants wished both 
decisions are subject to appeal 
a landmark agreement was reached with the western australian 
government during the year to revise state agreements and 
royalty arrangements the agreement will allow greater flexibility 
in the use of infrastructure and assets rio tinto agreed to pay  
royalties of 5625 per cent on fine product from all mines 
formerly 375 per cent on several mines and to continue paying 
75 per cent on lump product rio tinto also agreed to fund  
50 per cent of a oneoff combined payment of a350 million  
to the state government’s consolidated revenue fund 
agreements with five pilbara native title groups were signed in 
november this is a major achievement in securing current and 
future access as well as active traditional owners’ support
minerals
good weather for salt growth in a number of countries and a 
sluggish recovery in relevant global markets in 2010 led to a 
weakening of salt prices and reduced underlying earnings of 
us29 million down from us88 million in 2009 salt production 
continued at less than capacity and similar to 2009 at 76 million 
tonnes rio tinto share 52 million tonnes shipping increased by 
06 million tonnes to 83 million tonnes as stock built up during 
the global financial crisis was sold as part of diversifying risk 
customers and new contracts were established outside of the 
traditional asian markets in europe africa and north america
continuation of the sustainable health and safety programme 
within the business contributed to the group’s improved focus 
on general health and safety performance work commenced on 
replacement of the main seawall and seawater intake structure at 
dampier as part of the continuing structural integrity programme
marine
rio tinto marine provides rio tinto with comprehensive 
capabilities in all aspects of marine transportation global freight 
markets and the international regulatory environment the 
marine group consists of approximately 75 shipping professionals 
located principally in melbourne singapore london and montreal 
identifying and executing seaborne freight solutions allows 
rio tinto to participate in all aspects of the supply chain while 
exerting greater influence on vessel selection operational safety 
scheduling port efficiency and cost management 
rio tinto marine sets and maintains the group’s hse and vessel 
assurance standards for freight with continuous improvement 
efforts undertaken to instil a high standard of health safety and 
environmental performance aboard vessels under management and 
throughout the organisation as one of three equal shareholders 
in rightship a ship vetting specialist rio tinto helps to promote 
maritime industry safety and efficiency 
during 2010 rio tinto marine managed 155 million tonnes of 
seaborne cargo freight participation is largely within the dry bulk 
market managing seaborne transportation of iron ore coal salt 
bauxite alumina and other minor bulk products rio tinto marine 
owns a fleet of five postpanamax vessels used principally for the 
transportation of bauxite sourced from rio tinto alcan’s mine at 
weipa queensland these purpose built ships deliver volume and 
efficiency advantages on niche trade routes guaranteeing supply 
and eliminating freight cost variability 
rio tinto marine secures the majority of its freight coverage through 
period charter commitments it leverages the group’s substantial 
cargo base to obtain a low cost mix of short medium and long term 
freight cover it seeks to create value by improving the competitive 
position of the group’s products through freight optimisation 
development projects
rio tinto has outlined the largest expansion programme in 
australia’s mining history to achieve production and shipping 
annual capacity of 333 million tonnes in 2015 the expansion 
will more than double capacity at the cape lambert port facility 
rio tinto share 53 per cent to 183 million tonnes 
there were a series of major announcements in 2010 related  
to the expansion of the pilbara rail and port infrastructure to  
283 million tonnes a year feasibility studies into further expansion 
to 333 million tonnes per year are well under way the scale of the 
expansion programme in the pilbara is vast with a total capital 
expenditure estimate of us148 billion rio tinto share  
us12 billion to increase annual capacity to 333 million tonnes
in july and august rio tinto announced a us990 million 
investment rio tinto share us649 million for the letting of 
dredging contracts and the procurement of long lead items 
associated with the group’s growth programme dredging was 
approved and began in december a further investment of  
us31 billion rio tinto share us21 billion was approved to 
increase infrastructure annual capacity to 283 million tonnes  
in 2013 approval was also given for a final feasibility study for 
the second 50 million tonne tranche taking pilbara capacity to 
333 million tonnes a year scheduled for completion in late 2015 
demonstrating the fundamental change in global markets rio tinto 
announced the resumption of ioc’s expansion to 22 million 
tonnes a year capacity the first stage of a programme to boost 
capacity to 26 million tonnes a year
outlook
we believe market conditions will remain tight as delays to new 
supply and strong demand continue to drive prices
urbanisation and industrialisation have supported a phenomenal 
growth in china’s steel demand over the past decade we believe 
this will continue the fundamentals underlying china’s growing 
demand will remain robust driving this demand into the next 
decade india is expected to follow china’s lead and increased 
controls on its export capacity and early signs of increased steel 
intensity suggest its emergence as a major market will continue 
the group remains confident in the longer term potential for 
other markets of south east asia central asia the middle east 
and africa where urbanisation is relatively low but increasing 
just as the earliest indications of demand were met with  
rio tinto’s countercyclical investment in capacity a decade ago 
the group will accordingly seek to expand its production capacity 
by almost 50 per cent in the next five years  62 rio tinto 2010 annual report
exploration
investing for the future
the group has had a sustained commitment to exploration since 
1946 and considers exploration to be one of its core competencies 
mature group operations such as weipa the pilbara and rössing 
were tier 1 greenfield discoveries by rio tinto the value of these 
discoveries is still being realised after more than 40 years by both 
mine production and successful brownfield exploration
continuing this legacy the exploration group has since 2000 
identified two of the largest copper opportunities in the world at 
resolution in arizona us and la granja in peru exploration has 
also delivered one of the world’s largest known high grade iron 
ore deposits at simandou in guinea as well as the caliwingina 
channel iron deposits in the pilbara australia exploration identified 
the potash deposits at potasio rio colorado which rio tinto sold 
to vale in 2009 the sulawesi nickel laterite deposit in indonesia 
the mutamba titanium deposit in mozambique and the lithium 
borate deposits at jadar in serbia 
a significant proportion of the exploration group’s expenditure is 
returned to rio tinto through the sale of tier 2 discoveries over the 
period 2000 to 2010 divestment of exploration group projects has 
returned us1291 million for a net pre tax spend of approximately 
us128 million over the period this translates to an average tier 1 
discovery cost of less than us16 million per deposit
the following table shows the exploration group’s tier 1 
discoveries since 2000
year discovery commodity location
2000 potasio rio 
colorado
potash argentina
2002 resolution copper us
2004 simandou iron ore guinea
2005 la granja copper peru
2005 caliwingina iron ore australia
2008 sulawesi nickel indonesia
2008 mutamba titanium mozambique
2009 jadar lithiumborates serbia
at the end of 2010 the exploration group was actively exploring 
in 16 countries and assessing opportunities in a further seven for 
a broad range of commodities including bauxite copper coking 
coal iron ore diamonds nickel uranium and potash
strategy
the purpose of exploration is to add value to the group by discovering 
or acquiring resources that can increase future cash flows 
a fundamental element of the group’s business strategy is a 
clear focus on finding and mining only the largest most cost 
competitive resources that are profitable at all parts of the natural 
price cycle and that deliver sustainable competitive advantage 
these are described as tier 1 resources
the exploration group is accountable for greenfield exploration 
programmes and it provides technical assistance to the business 
units on brownfield exploration greenfield exploration which 
aims to establish completely new operating business units 
involves geographic or commodity diversification away from 
existing group operations brownfield exploration is directed at 
sustaining or growing existing group businesses exploration 
further supports the product groups in the assessment of merger 
and acquisition opportunities
the exploration group is organised geographically into regional 
multicommodity teams with head offices in london salt lake 
city and brisbane this structure provides a balance between 
global reach and local presence 
greenfield exploration programmes are prioritised on a global 
basis so that only the most attractive opportunities are pursued 
priorities are determined in consultation with the product groups 
with investment decisions being driven not by location or choice 
of commodity but rather by the quality of each opportunity
exploration teams frequently present the first face of rio tinto  
in a community and lay the groundwork for what could become  
a multidecade relationship exploration places a high priority on 
effective community engagement and considers its commitment 
to sustainable development as fundamental to securing its social 
licence to operate 
safety
the exploration group all injury frequency rate has increased 
from 062 at the end of 2009 to 118 at the end of 2010 the 
deterioration in performance is correlated with the expansion of 
field activities following the global financial crisis and increased 
engagement of contractors the exploration group continues 
to work closely with contractors to implement critical controls 
around high risk activities such as drilling
performance
a bauxite order of magnitude project was initiated at amargosa 
in brazil and is on target for delivery of the resource to the product 
group at the end of 2011 resource evaluation continued at the 
tamarack nickelcopper prospect in the us and the project will 
be advanced to a decision point in early 2011 the altai nuurs 
coking coal deposit in mongolia was identified as a non core  
asset and has been prepared for divestment 
target testing at sanxai in laos in joint venture with mitsui 
identified ore grade bauxite mineralisation 
target generation activities were progressed across a range of 
commodities and jurisdictions in kazakhstan a memorandum  
of understanding was signed with state mining company tauken 
samruk to conduct joint venture exploration for copper and other 
minerals a similar agreement was signed with chinalco to jointly 
explore for copper and other minerals within mainland china
all injury frequency rate
per 200000 hours worked
118
2009 062
2006 2007 2008 2009 2010
088
125
098
062
118 wwwriotintocom 63
overview performance
production reserves 
and operations governance financial statements additional information
in the brownfield environment exploration handed over a number 
of iron ore deposits in the pilbara australia to the iron ore product 
group in utah us exploration continues within a three kilometre 
orbit of the bingham canyon mine recent drilling to the east of the 
mine identified a new but subeconomic coppermolybdenumgold 
porphyry system drilling at other targets within the bingham mine 
orbit is under review on the rössing mine lease in namibia ore 
grade uranium intersections were returned at the z20 prospect
a research and development milestone was reached with the first 
test flights of the vk1 airborne gravity gradiometer over a test 
range in western australia system optimisation is under way in 
preparation for production flying towards the end of 2011 and 
commercialisation of the technology
gross cash expenditure on exploration and evaluation in 2010 was 
us594 million the increase of us80 million over 2009 gross 
expenditure reflects the ramp up of activities in response to the 
improved market outlook while remaining below 2008 expenditure 
of us1134 million gross expenditures are offset by us522 million 
pretax proceeds from the divestment of exploration properties
outlook
the exploration group expects to explore for a range of 
commodities across at least 17 countries in 2011 and plans 
to deliver the amargosa bauxite order of magnitude project 
to the rio tinto alcan product group at the end of the year 
reinvigorating early stage target generation will continue to be a 
priority to drive sustained exploration success
divestment of tier 2 assets will continue where real value can 
be realised with a target of 50 per cent of the annual greenfield 
exploration budget being returned to the group
the next crop of potential discoveries
project commoditycountry stage
amargosa bauxite brazil order of magnitude
sanxai bauxite laos project of merit
progress of a project
the evolution of a project from target 
generation to investment approval 
implementation and commissioning 
involves a series of study stages that 
can take ten to 20 years sustainable 
development critera are applied 
throughout the project development cycle
early stages of work are broadly termed 
exploration and are the responsibility of 
the exploration group these stages deliver 
a progressive increase in confidence in the 
technical and economic parameters used 
to determine whether a project satisfies 
rio tinto’s investment criteria
target generation and testing involves 
the progression from concept to 
demonstration of mineralisation at a 
prospect a project of merit is defined 
where mineralisation has been identified 
through drilling to be of a grade and 
quantity sufficient to be of economic 
interest by analogy with peer deposits 
currently in production
projects which attract the support of the 
relevant rio tinto product group are 
progressed to order of magnitude study  this 
involves an assessment of a range of options 
to establish economic viability of the project 
and determine whether its potential value is 
sufficient to justify committing significant 
resources to a detailed study programme 
any potential “showstoppers” are identified 
during this stage
a successful order of magnitude study 
results in the declaration of a discovery 
and the transfer of project management 
from the exploration group to the 
relevant rio tinto product group further 
work on these projects is broadly defined 
as evaluation
the two main evaluation study phases 
are prefeasibility and feasibility studies 
prefeasibility involves an evaluation 
of project options yielding a far clearer 
understanding of the preferred project 
concept and key value drivers the 
feasibility study sees the focus switch  
to optimisation and engineering of a 
single scenario identified through the 
prefeasibility study this finally freezes 
the scope of the project to be constructed
 
evaluation exploration
target generation 
and testing
project of merit order of magnitude prefeasibility 
study
feasibility study construction
opportunities are tested and screened by several different stages of work 64 rio tinto 2010 annual report
technology  innovation
a strategic commitment driving competitive advantage
technology  innovation ti consists of a central team of technology 
professionals and a number of technology centres that develop leading 
practice and promote improvements in mining processing asset 
management strategic production planning energy use and project 
development execution and evaluation emphasis is given to shared 
and visible measures of operational effectiveness the improvement of 
analytical tools and development of staff capabilities
most work is focused on improving current technologies and 
operations in addition the innovation centre focuses on 
technology step changes that will confer competitive advantage 
in development of orebodies likely to be available to the group 
in the future the energy  climate strategy centre focuses on 
improving the group’s use of energy reducing greenhouse gas 
emissions and understanding the effects of climate change on the 
group’s operations and prospects
the total number of employees in ti increased from 267 at 31 
december 2009 to 538 at 31 december 2010 primarily due to an 
increase of demand for the design and build of major projects on 
behalf of the group business units
strategy 
ti’s strategy is to
 maintain and promote a safe working environment
 continue to embed operational excellence in business units
 maximise the contribution of technology to the group’s vision 
of industry leadership
 deploy technology solutions that increase earnings
 design and build valuable new investment projects
 position the group to unlock orebodies that require innovative 
mining solutions
 lead the group’s response to climate change
safety 
ti is committed to the safe operation of its facilities and to the 
safe deployment of its personnel starting in 2009 the safety 
results reflect the inclusion of development projects managed by 
ti the all injury frequency rate for ti and projects in 2010 is 
072 compared to 087 in 2009
performance
key achievements 
the improving performance together ipt engagements continue  
to work with operating sites on operating improvements in  
2010 this collaborative effort delivered in excess of us1 billion  
pretax cash flow this was achieved by for example assisting in 
 the debottlenecking of the iron ore operations in the pilbara 
through improved equipment availability and concentrator 
throughput at kennecott and maintenance cost reduction at  
rio tinto alcan operations 
the innovation group achieved several milestones during 2010 
including the following
 successful movement of 31 million tonnes of iron ore with the 
autonomous haul system fleet demonstrating higher than 
planned productivity 
 first flight of the vk1 airborne gravity instrument
 deployment of the remote command vehicle which is capable 
of managing up to three blast hole drills with one operator in 
non line of sight mode
 accelerated progression of the first tunnel boring machine 
which will be commissioned at northparkes mine in early 2012
 successful trial of an innovative flotation control system at 
kennecott utah copper demonstrating improved recovery
the ti gross cost in 2010 was us214 million compared with 
us134 million in 2009 and us158 million in 2008
innovation 
the innovation group identifies evaluates and implements value 
accretive step change mining technologies with group wide 
application 
some of the innovation initiatives and programmes included
 the strategic mine of the future
tm
 programme interlinking 
projects delivering improvements in productivity cost product 
quality and mining technology
 the rio tinto centre for underground mine construction 
which will focus on rapid mine construction rock mass 
behaviour controls and innovative ground support for future 
rio tinto underground mines
 the development of step change technologies to support the 
safe rapid development of large underground block cave mines 
 the development and deployment of autonomous blast hole 
drilling technologies currently operating in the pilbara with 
potential for group wide implementation
 the surface mine of the future
tm
 programme which focuses 
on operating the first significantly autonomous iron ore mine 
by combining autonomous drilling semiautonomous blast 
loading with autonomous trucks and a wide range of advanced 
sensing and telecommunications technologies
energy  climate strategy 
the energy  climate strategy team ecs leads the group’s 
response to the challenges of climate change and the interrelated 
topic of energy management the team engages with the 
operating businesses governments and other stakeholders on 
the design of climate and energy policy manages the group’s 
carbon capture and storage ccs and develops internal strategies 
to evaluate energy supply options secure energy supply and to 
reduce energy usage and greenhouse gas ghg emissions 
in addition ecs actively supports the development of legislation 
and regulation through direct engagement with governments and 
involvement in advocacy groups such as the us climate action 
partnership
mineral technology services 
the mineral technology services centre comprises a team of 
technology professionals deployed from five regional offices 
in north america australia and the uk the team works 
with operating sites to deliver substantial increases in value 
with project teams to determine the optimum value adding 
project plan and with the broader group to understand and 
manage major technical risks the team provides support in 
the areas of geology geotechnics mining mineral processing 
hydrometallurgy process control asset management environment 
and business analysis
the centre is also responsible for implementing ipt processing a 
structured methodology designed to increase the value delivered 
by rio tinto’s processing operations ipt processing includes 
focused data analysis to understand and address the constraints 
and variability which inhibit process performance ipt processing  wwwriotintocom 65
overview performance
production reserves 
and operations governance financial statements additional information
continues to generate value across the group delivering over 
us350 million in pretax cash flow benefits in 2010
asset management 
the asset management centre concentrates on the effective 
selection and use of equipment for the group’s mining and 
processing operations work included the implementation of asset 
management standards and guidelines as well as standard business 
processes and fit for purpose technical operating systems work 
practices and global metrics to monitor the performance of fixed 
plant and heavy mobile equipment
the asset management ipt programme continued to deliver 
robust results in 2010 supporting business units to realise over 
us400 million in pretax cash flow benefits
mining technology 
the focus of the mining technology centre is to establish leading 
practice and develop share and implement group wide solutions 
in the core mining production processes of surface mining 
underground mining strategic resource development resource 
and reserve estimation orebody knowledge and mine planning 
the centre also oversees the group’s resource and reserves 
estimation and reporting process reserves and resources audit 
process and core technical systems ipt mining initiatives in 2010 
included payload management drill and blast and off road tyre 
demand reduction the ipt programme for mining technology 
continued to deliver strong results in 2010 and assisted business 
units in realising over us180 million in pretax cash flow benefits
the mining technology centre also includes a strategic 
production planning spp team which focuses on developing and 
establishing leading practice spp teams cooperate with business 
units to develop comprehensive plans and valuations of strategic 
resource development options results from spp provide a logical 
resource development framework for more detailed studies 
and investment decision making spp engagements completed 
during the year increased the life of mine valuation of a number 
of existing mining businesses and supported expansion based 
investment proposals
project development  implementation 
the project development  implementation centre pdi provides 
guidance support and training for all aspects of capital projects 
performs a governance function by conducting project reviews 
manages feasibility studies and executes capital projects on behalf 
of the business units during 2010 pdi commenced resourcing for 
and implementation of a global operating model in preparation for 
implementation of projects in nearly all continents and on behalf 
of all product groups the model provides for a project management 
support function as well as implementation hubs focused on 
supporting the product groups in 2010 it was responsible for the 
progression of the argyle diamonds underground project kestrel 
mine extension yarwun 2 project the feasibility study for the 
energy resources of australia heap leach project and the eagle 
nickel project in michigan pdi also provided support and advice to 
most other major projects in a year when the group recommenced 
or accelerated projects that were suspended during 2008 and 2009 
additionally the operation of the clermont coal mine project was 
successfully handed over to rio tinto coal australia during 2010 
the centre continued to make improvements in overall safety 
performance at these projects
technical evaluation group 
the technical evaluation group teg ensures that rio tinto’s 
investment decisions are based on independent technical review 
and evaluation teg also provides advice on the adequacy of 
risk identification and management at key points in the project 
approvals process 
outlook 
in 2011 ti will continue to maintain a culture that places 
a high priority on safety and safety improvements ti will 
continue to work with group businesses to deliver measurable 
increases in earnings and will continue to assist from a technology 
viewpoint in the selection of the most attractive investment 
opportunities it will continue to focus on the safe and efficient 
implementation of projects and will build systems to support 
management of projects across the group the pursuit of the mine 
of the future™ programme and the development of innovative 
alliances and relationships that will create competitive advantage 
for the group remain a significant focus ti will also focus on 
delivering improvements in the group’s energy efficiency long 
term business decarbonisation options compliance processes and 
performance and carbon markets participation ti will look to 
significantly increase staff levels as the business environment 
continues to improve and the need for highly skilled technical 
employees increases  66 rio tinto 2010 annual report
financial review
2010 financial performance compared with 2009
in order to provide additional insight into the performance of its 
business rio tinto presents underlying earnings
2010 underlying earnings of us13987 million and net earnings 
of us14324 million were us7689 million above and us9452 
million above the comparable measures for 2009 the principal 
factors explaining the movements are set out in the table below 
changes from 2009 to 2010
underlying 
earnings
usm
net 
earnings
usm
2009 6298 4872
prices 9505
exchange rates 1171
volumes 782
general inflation 253
energy 232
other cash costs 445
exploration and evaluation costs 
including disposals of undeveloped
   properties 690
interest tax other 193
7689 7689
gain on consolidation of  
   oyu tolgoi llc 531
profits less losses on disposal of 
interests in business
325
net impairment charges
exchange differences and derivatives
chinalco break fee
restructuring costs from global
   headcount reduction
716
401
182
231
other 27
2010 13987 14324
a  see note 2 on page 182 of the 2010 financial statements for a reconciliation of 
underlying earnings to net earnings
prices
the effect of price movements on all major commodities in 
2010 was to increase underlying earnings by us9505 million 
compared with 2009 average annual prices improved for nearly 
all of rio tinto’s major commodities copper prices were up 47 per 
cent molybdenum prices were up 45 per cent gold prices were up 
26 per cent and aluminium prices were 31 per cent higher than 
2009 demand and prices for diamonds and minerals improved 
significantly as the worldwide economy emerged from the global 
financial recession
commodity prices and other drivers of sales revenue of individual 
product groups are discussed further in this section on pages 69 
to 71
exchange rates
there was significant movement in the us dollar in 2010 relative 
to the currencies in which rio tinto incurs the majority of its costs 
compared with 2009 on average the us dollar weakened by 16 
per cent against the australian dollar and by ten per cent against 
the canadian dollar the effect of all currency movements was to 
decrease underlying earnings relative to 2009 by us1171 million
volumes
higher sales volumes were primarily generated from the expanded 
iron ore operations in the pilbara region of western australia running 
at above nameplate capacity and an increased proportion of higher 
margin pellet sales at ioc the aluminium group benefited from 
higher sales of value added aluminium products increased volumes of 
hard coking coal following new investment in heavy mobile equipment 
at the queensland mines higher refined gold and molybdenum at 
kennecott utah copper and a significant recovery in diamonds and 
minerals market demand also contributed to the positive variance 
these increases offset lower copper and gold volumes at grasberg 
which were impacted by lower ore grades and lower mill throughput 
the overall impact of volume movements was an increase in 
underlying earnings of us782 million relative to 2009
energy other cash costs and exploration
higher energy costs across the group in particular for aluminium 
reduced underlying earnings by us232 million this primarily 
reflected low snow and rain levels in the saguenay region of 
quebec during the first half of 2010 which led to reduced power 
generation resulting in the need to purchase additional power 
under a specially negotiated power block from the provincial 
utility over a 12 month period 
higher other cash costs during 2010 decreased underlying earnings 
by us445 million compared with 2009 higher unit cash costs in 
the copper group were the result of the planned smelter shutdown 
and lower copper production following lower grades at most of the 
operations adverse weather conditions and higher stripping rates 
impacted costs at the energy group these were partly offset by 
lower costs in the aluminium group which benefited from lower 
prices for caustic pitch and coke 
in 2010 evaluation work accelerated at many of the group’s 
projects including the resolution and la granja copper projects 
and the simandou iron ore project two undeveloped coal 
properties were divested in 2010 resulting in a us229 million 
gain on disposal compared with a gain of us797 million in  
2009 from the disposal of two undeveloped potash properties  
the impact from higher exploration and evaluation expenditure 
combined with lower gains realised from divestments was to lower 
underlying earnings by us690 million compared with 2009 
interest tax other
the effective corporate income tax rate on underlying earnings 
excluding equity accounted units was 279 per cent compared 
with 248 per cent in 2009 a significant proportion of the 
increase related to the oneoff nontaxable profit on disposal 
of the potash assets which was recognised in 2009 the group 
interest charge was us110 million lower than in 2009 mainly 
reflecting lower debt in 2010 following completion of the rights 
issues and divestments wwwriotintocom 67
overview performance
production reserves 
and operations governance financial statements additional information
2009 financial performance compared with 2008
2009 underlying earnings of us6298 million and net earnings 
of us4872 million were us4005 million below and us1196 
million above the comparable measures for 2008 the principal 
factors explaining the movements are set out in the table below
changes from 2008 to 2009
underlying 
earnings
usm
net 
earnings
usm
2008 10303 3676
prices 6879
exchange rates 484
volumes 652
general inflation 172
energy 318
other cash costs 742
exploration and evaluation costs 
including disposals of undeveloped
   properties 890
interest tax other 40
total changes in underlying earnings 4005 4005
profits on disposal of interests in
   businesses 971
net impairment charges 6854
exchange differences and derivatives 815
chinalco break fee 182
restructuringseverance costs from
   global headcount reduction 174
other 489
2009 6298 4872
a  see note 2 on page 182 of the 2010 financial statements for a reconciliation of underlying 
earnings to net earnings
prices
the effect of price movements on all major commodities in 2009 
was to decrease earnings by us6879 million compared with 2008 
prices declined for nearly all of rio tinto’s major commodities 
average copper and aluminium prices were 28 per cent and 35 per 
cent lower respectively while average molybdenum prices were 
65 per cent lower than 2008 gold prices in 2009 were 11 per cent 
higher than 2008 diamond prices were severely impacted by the 
global economic downturn
exchange rates
there was significant movement in the us dollar in 2009 relative 
to the currencies in which rio tinto incurs the majority of its costs 
compared with 2008 on average the us dollar strengthened by eight 
per cent against the australian dollar and by six per cent against 
the canadian dollar the effect of all currency movements was to 
increase underlying earnings relative to 2008 by us484 million
volumes
higher sales volumes from the expansion of iron ore capacity 
in the pilbara region of western australia and higher copper 
and gold grades at kennecott utah copper and grasberg were 
partly offset by production cutbacks at rio tinto alcan alcan 
engineered products rio tinto diamonds rio tinto iron  
titanium and rio tinto minerals in response to the economic 
downturn the overall impact of volume movements was an 
increase in underlying earnings of us652 million relative to 2008
energy other cash costs and exploration
a reduction in cash costs during 2009 increased underlying 
earnings by us742 million compared with 2008 controllable 
operating cost savings of us26 billion were achieved in 2009 
exceeding the target set in december 2008 and delivered one 
year in advance lower unit costs in the copper group notably 
at kennecott utah copper were driven by higher production 
and a bottom up cost reduction programme the iron ore group 
benefited from lower unit cash costs in line with higher sales 
volumes and a reduction in contractor and maintenance costs 
decreased costs at rio tinto alcan were driven by the major cost 
cutting initiatives undertaken in response to the global financial 
crisis including reduction of all non critical discretionary spend 
along with programmes to reduce operating costs across the 
production sites
lower energy costs across the group boosted underlying earnings 
by a further us318 million reflecting the impact of a lower oil 
price evaluation work at many of the group’s advanced projects 
was scaled back in 2009 and the central exploration budget was 
reduced by 60 per cent which together with the divestment 
of some exploration and evaluation properties resulted in a 
favourable impact to underlying earnings of us890 million 
compared with 2008 in line with rio tinto’s exploration policy 
a us797 million gain on disposal of the undeveloped potash 
properties in argentina and canada was recognised within 
underlying earnings this forms part of the exploration variance 
in the table above net of the us483 million gain on disposal of 
the undeveloped kintyre uranium project in 2008
interest tax other
the effective tax rate on underlying earnings excluding equity 
accounted units was 248 per cent compared with 316 per cent 
in 2008 the decrease largely related to the oneoff non taxable 
profit on disposal of the potash assets which was recognised in 
2009 and by an increase in foreign currency exchange losses 
arising from revaluation of tax bases for canadian companies 
with us functional currencies the group interest charge was 
us446 million lower than in 2008 mainly reflecting a decline  
in interest rates and lower debt in 2009 following completion  
of  the rights issues 68 rio tinto 2010 annual report
financial review continued
exclusions from underlying earnings 2008–2010
earnings contributions from group businesses and business 
segments are based on underlying earnings amounts excluded 
from net earnings in arriving at underlying earnings are 
summarised in the discussion of year on year results below
2010 
usm
2009 
usm
2008 
usm
gain on consolidation of  
   oyu tolgoi llc 531––
profit less losses on disposal of
   interest in business
net impairment charges
a
174
836
499
1552
1470
8406
exchange differences and gains
   losses on derivatives 429 28 843
chinalco break fee
b
– 182 –
restructuringseverance costs from
   global headcount reduction – 231 57
other exclusions 39 12 477
total excluded in arriving at 
underlying earnings 337 1426 6627
a  net impairment charges include impairment charges of us739 million 2009 us1103 million 
2008 us7579 million and loss after tax of discontinued operations of us97 million 
2009 us449 million 2008 us827 million
b the chinalco break fee was us195 million pretax
2010
rio tinto consolidated oyu tolgoi llc on 15 december 2010 
following the signing of a new agreement with ivanhoe mines the 
us531 million gain arising on consolidation represents the excess 
of the provisional fair value ascribed to the group’s indirect share  
of the assets and liabilities of oyu tolgoi llc over the historic cost 
of acquiring that share through its investment in ivanhoe mines 
profits on the disposal of businesses in 2010 relate primarily to 
the sale of the group’s remaining 48 per cent interest in cloud 
peak energy inc 
the 2010 impairment charge of us739 million related mainly to 
the alcan engineered products businesses on 5 august 2010 the 
group received a binding offer for the sale of 61 per cent of alcan 
engineered products excluding the cable division to certain 
investment funds affiliated with apollo global management 
llc apollo and the fonds stratégique d’investissement the 
divestment was completed on 4 january 2011 the terms of the 
transaction are confidential following completion rio tinto 
holds a 39 per cent stake and will treat its interest as an equity 
accounted unit
loss after tax from discontinued operations of us97 million 
inclusive of divestment costs relates to the completion of the 
disposal of alcan packaging global pharmaceuticals global 
tobacco food europe and food asia divisions to amcor on  
1 february 2010 and the alcan packaging food americas  
division to bemis company inc on 1 march 2010 
2009
in 2009 the group completed the divestments of its interests in 
the ningxia aluminium smelter the corumba iron ore operation 
the jacobs ranch coal mine alcan composites and the sale of 52 
per cent of the group’s interest in cloud peak energy resources 
llc net gains on these transactions totalling us05 billion were 
excluded from underlying earnings as divestments of interests in 
businesses are considered to be outside the underlying activities 
of the group
of the group’s total posttax impairment charge of us1103 million 
us500 million related to alcan engineered products us212 million 
related to the group’s aluminium businesses and us348 million 
related to the group’s diamond businesses
an impairment of us318 million relating to the alcan packaging 
businesses was recognised during the year and was included 
within “loss after tax of discontinued operations”
all impairments were measured based upon an assessment of 
fair value less costs to sell these impairments were caused by 
continued weakness in the economic environment 
in 2009 rio tinto paid a break fee of us195 million us182 million 
posttax to chinalco which was excluded from underlying earnings
during 2009 the group incurred restructuring and severance 
costs of us231 million associated with its global headcount 
reduction programme
2008
profit on disposal related to the disposal of the interests in the 
cortez gold mine and the greens creek silverzinclead mine 
during 2008 the group incurred advisory and other costs related 
to the rejection by the board of the preconditional takeover 
proposal from bhp billiton which was withdrawn in november 
these costs totalled us270 million net of tax in 2008 and were 
excluded from underlying earnings other charges excluded from 
underlying earnings comprised costs relating to non recurring 
acquisitions disposals and similar corporate projects 
the group’s total posttax impairment charge of us7579 
million related mainly to the group’s aluminium businesses 
us6127 million and engineered products us980 million 
the acquisition price of alcan anticipated significant growth 
in smelter and refinery capacity but following the significant 
weakening in economic and market circumstances during 2008 
many of these growth projects were deferred these deferrals 
together with the weak economic environment and increases in 
input costs resulted in the impairment charge
in measuring the amount of the impairment the group compared 
the carrying value of the upstream aluminium business with its 
value in use assessed using discounted cash flow techniques 
this followed the requirements of accounting standards as in the 
group’s view the upstream aluminium business’ fair value less 
cost to sell was lower than its value in use for the purposes of 
the annual goodwill impairment test goodwill was allocated to a 
group of cash generating units that included both alcan and the 
aluminium activities previously owned by rio tinto which were 
managed as a single business following the acquisition 
the impairment charge did not trigger the covenant under the 
alcan acquisition facilities which required that the ratio of net 
debt to underlying ebitda be no greater than 45 times 
an impairment of discontinued operations of us827 million 
relating to packaging was recognised outside of underlying 
earnings as required by ifrs 5 – noncurrent assets heldforsale 
and discontinued operations the amount of this impairment was 
determined by reference to the group’s best estimate of expected 
proceeds to be realised on the sale of packaging less an estimate 
of remaining costs to sell the packaging business was valued 
based upon an assessment of its fair value required because this 
business was presented as an asset held for sale in the group 
balance sheet engineered products was also valued based upon 
an assessment of its fair value as the group’s intention was to sell 
this group of businesses wwwriotintocom 69
overview performance
production reserves 
and operations governance financial statements additional information
exchange differences and gainslosses on derivatives of  
us843 million related to a gain of us19 billion on australian 
dollar intragroup liabilities held by group entities with a us 
dollar functional currency offset by a loss of us17 billion on 
external us dollar debt held by an entity with an australian  
dollar functional currency the weakening of the australian dollar 
against the us dollar particularly towards the end of 2008 led 
to these significant movements the tax on exchange gains and 
losses included a benefit of us254 million through recovery of 
tax relating to the prior years it also included tax relief for losses 
on us dollar denominated debt the pretax loss was offset by 
gains on intragroup balances which were largely not subject to tax 
net earnings and underlying earnings
both net earnings and underlying earnings deal with amounts 
attributable to the owners of rio tinto however eu ifrs requires 
that the profit for the period reported in the income statement 
should also include earnings attributable to noncontrolling 
interests in subsidiaries the profit for the period is reconciled  
to net earnings and to underlying earnings as follows
2010 
usm
2009 
usm
2008 
usm
profit from continuing operations 15281 5784 5436
loss after tax from discontinued
   operations 97 449 827
profit for the year 15184 5335 4609
less attributable to noncontrolling
   interests 860 463 933
attributable to owners of rio tinto
   net earnings 14324 4872 3676
exclusions from underlying earnings 337 1426 6627
underlying earnings attributable to
   owners of rio tinto 13987 6298 10303
group financial results by product group 2008–2010
2010 
usm
2009 
usm
2008 
usm
iron ore 10189 4126 6017
aluminium 773 560 1281
copper 2534 1878 1615
energy 1187 1167 2432
diamonds  minerals 328 800 474
other operations 71 71 13
intersegment transactions 15 28 25
other items 554 577 391
exploration and evaluation 52 5 133
net interest 474 584 1030
group underlying earnings 13987 6298 10303
exclusions from underlying earnings 337 1426 6627
net earnings 14324 4872 3676
sales revenue 
prices
commodity source unit
2010 
us
2009 
us
2008 
us
average prices
aluminium lme 
a
tonne 2173 1665 2572
copper lme pound 340 232 320
gold lbma ounce 1222 970 872
iron ore australian 
fines 
dmtu 
b
 184 109 129
molybdenum metals week 
quote for 
dealer oxide 
price
pound 16 11 31
closing prices quoted commodities only
aluminium tonne 2459 2207 1454
copper pound 444 333 132
gold ounce 1410 1104 865
molybdenum pound 16 11 10
a lme cash price 
b dry metric tonne unit
the above table shows published prices for rio tinto’s commodities 
for the last three years where these are publicly available and where 
there is a reasonable degree of correlation between the published 
prices and rio tinto’s realised prices the prices set out in the  
table are the averages for each of the calendar years 2008 2009  
and 2010
the group’s sales revenue will not necessarily move in line  
with these published prices for a number of reasons which are 
discussed below
the discussion of revenues below relates to the group’s gross 
revenue from sales of commodities including its share of the 
revenue of equity accounted units after adjusting for sales  
to subsidiaries as included in the financial information by 
business unit
iron ore
2010 sales revenue compared with 2009
gross sales revenue for the iron ore group increased by 91 per cent in 
2010 compared to 2009 driven by strong prices and a nine per cent 
increase in production during 2010 iron ore pricing moved to quarterly 
contracts reflecting the structural shift away from annual benchmark 
pricing first quarter iron ore prices from 1 january 2011 are based on 
the average indexed price from 1 september to 30 november 2010 sales 
volumes increased in response to growing demand in major markets 
stimulated by improving economic conditions and delays in capacity 
from other suppliers 
2009 sales revenue compared with 2008
the sales revenues of the iron ore group decreased by 24 per cent 
in 2009 compared with 2008 during 2009 rio tinto settled iron 
ore supply contracts with customers in japan korea and taiwan 
with prices for fines declining 33 per cent and prices for lump 
declining 44 per cent on the prior year approximately half of the 
iron ore that rio tinto produced in the first six months of 2009 
was sold on a spot market basis in the second half of the year 
sales were primarily priced on a benchmark or its equivalent 
provisional basis 70 rio tinto 2010 annual report
financial review continued
aluminium
2010 sales revenue compared with 2009
the aluminium group’s sales revenues are from aluminium 
and related products such as alumina and bauxite gross sales 
revenue in 2010 for the aluminium group increased by 26 per 
cent compared to 2009 the 2010 spot aluminium price averaged 
us2173 per tonne an increase of 31 per cent on 2009 this 
increase reflects the combination of a robust recovery in end use 
demand in developed economies and the continued roll over of 
inventory financing positions amidst a prolonged period of low 
interest rates
2009 sales revenue compared with 2008
the 2009 sales revenues of the aluminium group decreased by 
34 per cent against 2008 the average aluminium market price in 
2009 was us1665 per tonne compared with us2572 per tonne 
in 2008 the decline in lme prices that commenced in mid 2008 
continued into 2009 with some improvement in the second half 
of 2009 resulting in a yearend price of us2207 per tonne
energy
2010 sales revenue compared with 2009
a significant proportion of rio tinto’s coal production is sold 
under long term contracts in australia the prices applying to 
sales under the long term contracts are generally renegotiated 
annually but prices are fixed at different times of the year 
and on a variety of bases for these reasons average realised 
prices will not necessarily reflect the movements in any of the 
publicly quoted prices moreover there are significant product 
specification differences between mines sales volumes will vary 
during the year and the timing of shipments will also result in 
differences between average realised prices and published prices
gross sales revenue for the energy group increased by 16 per 
cent in 2010 overall average coal prices were lower than in 2009 
due to the absence of higher carry over prices from 2008 2010 
saw continuing strength in the seaborne market for australian 
coal demand for thermal coal continued to be robust from south 
korea india taiwan and china global steel demand improved in 
all markets in the first half of the year and led to strong demand 
for semisoft coking coal the market for premium quality hard 
coking coal remained steady in 2010
uranium spot markets were relatively weak early in 2010 but 
strengthened in the second half of the year mainly driven by 
strong demand from china long term prices have remained 
consistent with some small increases in the latter part of the year 
2009 sales revenue compared with 2008
sales revenues for the energy group decreased by 16 per cent 
in 2009 compared with 2008 due to lower realised australian 
coal prices partially offset by an increase in the us thermal coal 
price china’s demand for imported coal in 2009 was particularly 
strong and this supported improved prices by year end however 
prices were lower than the records achieved in 2008 global steel 
demand was also weak in the first half of 2009 for most markets 
other than china but improved in the second half of the year and 
led to strong demand for coking and semisoft coking coal hard 
coking coal production from the group’s australian operations 
was comparable with 2008 thermal coal contracts for the 2009 
fiscal year 12 months commencing 1 april 2009 were settled 
in the us7072 per tonne range a decrease of approximately 
44 per cent on the record levels of the previous year coking coal 
contracts for the 2009 fiscal year were settled in the us115130 
per tonne range a decline of approximately 60 per cent on the 
record levels of the 2008 fiscal year
copper
2010 sales revenue compared with 2009
the copper group also produces gold and molybdenum as 
significant byproducts gross sales revenue for the copper 
group increased by 25 per cent in 2010 compared to 2009 the 
copper group benefited from higher average prices for its major 
products in 2010 copper increased 47 per cent to 340 cents per 
pound gold increased 26 per cent to us1222 per ounce and 
molybdenum increased 45 per cent to us16 per pound the 
benefit from higher prices in 2010 was partly offset by lower 
volumes notably from grasberg and higher unit cash costs in line 
with reduced production from lower grades
at the end of 2010 the group had an estimated 270 million 
pounds of copper sales that were provisionally priced at us 428 
cents per pound the final price of these sales will be determined 
during the first half of 2011
2009 sales revenue compared with 2008
the 2009 average copper price of 232 us cents per pound was 
28 per cent below the 2008 average price the 2009 gold price 
averaged us970 per ounce an increase of 11 per cent on the 
prior year whilst the average molybdenum price was us11 per 
pound a decrease of 65 per cent compared with 2008 
sales revenues for the copper group in 2009 increased by eight 
per cent compared with 2008 the effect of provisional pricing 
of copper sales resulted in a benefit to underlying earnings of 
us213 million in 2009 compared to a charge of us207 million 
in 2008 at the end of 2009 the group had 267 million pounds of 
copper sales that were provisionally priced at 335 us cents  
per pound this compared with 183 million pounds of open 
shipments at 31 december 2008 provisionally priced at 133 us 
cents per pound
diamonds  minerals
2010 sales revenue compared with 2009
diamond prices realised by rio tinto depend on the size and 
quality of diamonds in the product mix gross sales revenue 
increased by 16 per cent in 2010 compared to 2009 sustained 
demand from emerging markets which largely offset the slower 
recovery from the established markets of the us and europe was 
reflected in higher prices and increased sales volumes for the 
diamonds  minerals group 
rough diamond prices demonstrated a robust recovery throughout 
2010 as demand from emerging markets notably india and china 
accelerated demand for titanium dioxide feedstocks talc and 
borates in 2010 continued to demonstrate a healthy recovery in 
line with improving global economic conditions  wwwriotintocom 71
overview performance
production reserves 
and operations governance financial statements additional information
2009 sales revenue compared with 2008
revenue from diamond sales in 2009 decreased by 46 per cent 
compared with 2008 primarily due to the global economic slowdown 
as demand for luxury items decreased however there was an 
improvement in prices for rough diamonds in the latter half of 2009
sales revenue for minerals in 2009 decreased by 27 per cent 
compared with 2008 due to a decline in demand resulting from 
the global economic crisis prices applying to industrial minerals 
are generally negotiated with individual customers based on 
a variety of factors such as product specification volumes etc 
therefore average realised prices will not necessarily reflect the 
movements in any publicly quoted prices
cash flow
2010 compared with 2009
a full consolidated cash flow statement is contained in the  
2010 financial statements cash flows from operations including 
dividends from equity accounted units were us235 billion  
70 per cent higher than 2009 primarily as a consequence of  
higher prices 
tax paid for 2010 increased to us4100 million us1024 
million higher than 2009 largely due to the increase in taxable 
profits net interest paid of us696 million for 2010 was us440 
million lower than 2009 largely due to lower amounts of debt 
following a us85 billion repayment of alcan acquisition facility 
d at the beginning of the year
purchase of property plant and equipment and intangible assets 
was us46 billion in 2010 a decrease of us08 billion from 
2009 this included the brockman 4 iron ore mine development 
in western australia the expansion of the yarwun alumina 
refinery the commissioning of the clermont thermal coal mine 
and the extension and expansion of the kestrel coking coal mine
net cash proceeds from disposals and acquisitions in 2010 were 
us2893 million and related to the disposal of alcan packaging 
businesses and the remainder of cloud peak energy inc partly 
offset by the payments to acquire an additional 2062 per cent in 
ivanhoe mines
dividends paid in 2010 of us18 billion compared with  
us09 billion in 2009 reflected the suspension of the 2009 
interim dividend 
2009 compared with 2008
cash flow from operations including dividends from equity 
accounted units was us13834 million 33 per cent lower than 
2008 primarily as a consequence of lower prices
tax paid in 2009 decreased to us3076 million us823 million 
lower than for 2008 largely due to the decrease in taxable profits 
net interest paid of us1136 million for 2009 was us402 
million lower than 2008 largely due to lower amounts of debt 
following the repayment of part of the us40 billion alcan 
acquisition facility using the us148 billion net proceeds from 
the rights issues in july 2009
capital expenditure on property plant and equipment and 
intangible assets was us5388 million in 2009 a decrease of 
us3186 million over 2008 this included the brockman 4 
and mesa a iron ore mine developments in western australia 
expansion of the yarwun alumina refinery construction of the 
clermont thermal coal mine expansion of the kestrel coking coal 
mine development of the underground diamond mines at diavik 
and argyle and completion of the madagascar ilmenite mine
net cash proceeds from disposals and acquisitions in 2009 were 
us2028 million and related to the disposal of corumba jacob’s 
ranch mine and alcan composites together with proceeds from 
the initial public offering of cloud peak energy inc and related 
transactions partly offset by payments to acquire an additional 
98 per cent in ivanhoe mines net disposals were us2563 
million in 2008 and related to cortez greens creek and alcan’s 
aerospace service centres business
dividends paid in 2009 of us876 million were us1057 million 
lower than dividends paid in 2008 following the suspension of 
the interim dividend other financing cash flows in 2009 included 
the net proceeds from rights issues of us148 billion and net 
repayments of borrowings of us164 billion compared with 
us80 billion in 2008
statement of financial position
net debt decreased to us43 billion from us189 billion at  
31 december 2009 following the receipt of proceeds from  
the divestment programme and strong operating cash flows  
net debt to total capital was six per cent at 31 december 2010 
and interest cover was 27 times
rio tinto consolidated oyu tolgoi llc on 15 december 2010 
following the signing of a new agreement with ivanhoe mines 
100 per cent of oyu tolgoi llc’s identifiable assets and liabilities 
have been recognised in the statement of financial position at fair 
values estimated with the assistance of an independent third party 
valuer together with goodwill the historic cost of acquiring the 
group’s indirect share of oyu tolgoi llc through its investment in 
ivanhoe mines was deducted from investments in equity accounted 
units the group’s remaining interest in the assets of ivanhoe that 
does not relate to oyu tolgoi llc continues to be equity accounted 
the transaction generated a non cash gain of us531 million
due to the complexity of the valuation process and the proximity 
of the date on which the agreement was signed to the reporting 
date fair values on consolidation are provisional and will be 
subject to further review during the 12 months from the date on 
which the agreement was effective
financial risk management
the group’s policies with regard to financial risk management are 
clearly defined and consistently applied they are a fundamental 
part of the group’s long term strategy covering areas such as 
foreign exchange risk interest rate risk commodity price risk 
credit risk liquidity risk and capital management further 
details of our financial risk management are disclosed in note 33 
“financial risk management” to the 2010 financial statements
the group’s 2010 annual report and financial statements shows 
the full extent of its financial commitments including debt the 
principal risks and uncertainties to which the group is subject 
that are thought to be of particular importance are summarised 
on pages 25 to 28 the effectiveness of internal control procedures 
continues to be a high priority in the rio tinto group the board’s 
statement on internal control is set out on page 125
capital management and dividends
the group’s total capital is defined as equity attributable to 
owners of rio tinto equity attributable to noncontrolling 
interests and net debt as shown on the next page 72 rio tinto 2010 annual report
financial review continued
total capital
2010  
usm
2009  
usm
equity attributable to owners of rio tinto 58333 43831
equity attributable to noncontrolling 
interests 6941 2094
net debt note 24 4284 18861
total capital 69558 64786
the group’s overriding objectives when managing capital are to 
safeguard the business as a going concern to maximise returns for 
shareholders and benefits for other stakeholders and to maintain 
an optimal capital structure in order to provide a high degree of 
financial flexibility at the lowest cost of capital a key objective  
of the group is to achieve and maintain a single a credit rating 
the board and senior management regularly review the capital 
structure of the group taking account of strategic priorities and 
conditions within which the group operates 
the group’s capital management objectives allow it to selectively 
invest at all points of the commodities cycle both in the group’s 
own existing growth projects and other opportunities that may 
arise whilst providing a shareholder return 
net debt reduced from us189 billion to us43 billion at  
31 december 2010 following strong cash flows from operations 
and the debt maturity profile was improved in october 2010 by 
raising us2 billion in bonds with five ten and 30 year maturities 
the proceeds were used in a successful tender for us19 billion 
of bonds due in 2013 this prudent balance sheet management 
and focus on maintaining an efficient capital structure helped 
lead to the restoration in 2010 of a single a credit rating by moody’s
net debt at 31 december 2010 was made up principally from 
borrowings of us143 billion offset by us99 billion in cash and 
cash equivalents the proportion of net debt to total capital stood 
at 62 per cent at 31 december 2010 compared with 291 per cent 
at 31 december 2009 in february 2011 as part of the group’s 
capital management programme a share buyback of us5 billion 
was announced which subject to market conditions is planned to 
be completed by the end of 2012 
rio tinto has a progressive dividend policy which aims to  
increase the us dollar value of ordinary dividends over time 
taking into account the results for the past year and the outlook 
under the dividend policy the interim dividend is set at one half 
of the total ordinary dividend for the previous year and the final 
ordinary dividend is expected to be at least equal to the previous 
interim dividend
dividends paid on rio tinto plc and rio tinto limited shares are 
equalised on a net cash basis that is without taking into account 
any associated tax credits dividends are determined in us dollars 
details relating to the payment of dividends in sterling australian 
dollars and other currencies and on the payment of dividends to 
holders of american depositary receipts adrs are included in 
the shareholder information on page 262
the group’s major capital projects are listed on pages 76 to 77
liquidity and capital resources
details of our liquidity and capital risk management are contained 
within note 33 “financial risk management” part v to the 2010 
financial statements
we expect that contractual commitments for expenditure 
together with other expenditure and liquidity requirements will 
be met from internal cash flow and to the extent necessary 
from the existing facilities described in note 33 “financial risk 
management” part v to the 2010 financial statements
treasury management and financial instruments
details of our treasury management and financial instruments 
are contained within the introductory paragraphs of note 33 
“financial risk management” to the 2010 financial statements
foreign exchange
the following sensitivities give the estimated effect on underlying 
earnings assuming that each exchange rate moved in isolation 
the relationship between currencies and commodity prices is 
a complex one and movements in exchange rates can cause 
movements in commodity prices and vice versa where the 
functional currency of an operation is that of a country for 
which production of commodities is an important feature of the 
economy such as the australian dollar there is a certain degree 
of natural protection against cyclical fluctuations in that the 
currency tends to be weak reducing costs in us dollar terms 
when commodity prices are low and vice versa
earnings sensitivities – exchange rates
average exchange  
rate for 2010 
us cents
effect on net and underlying 
earnings of 10 change in 
full year average 
 usm
australian dollar 92 604
canadian dollar 97 194
euro 133 29
chilean peso us1  510 pesos 23
new zealand dollar 72 19
south african rand 14 54
uk sterling 155 18
the exchange rate sensitivities quoted above include the effect on 
operating costs of movements in exchange rates but exclude the 
effect of the revaluation of foreign currency financial assets and 
liabilities they should therefore be used with care 
further details of our exposure to foreign currency fluctuations 
and currency derivatives and our approach to currency hedging 
are contained within note 33 “financial risk management” part 
i to the 2010 financial statements
interest rates
details of our exposure to interest rate fluctuations are contained 
within note 33 “financial risk management” part ii to the 2010 
financial statements wwwriotintocom 73
overview performance
production reserves 
and operations governance financial statements additional information
commodity prices
the approximate effect on the group’s underlying and net 
earnings of a ten per cent change from the full year average 
market price in 2010 for the following products would be
earnings sensitivities – commodity prices
unit
average market 
price for 2010 
us 
effect on underlying 
and net earnings of 10 
change in full year average 
 usm
copper pound 340 349
aluminium tonne 2173 650
gold ounce 1222 73
molybdenum pound 16 31
iron ore dmtu – 1343
thermal and 
coking coal tonne – 207
the sensitivities give the estimated impact on net earnings 
of changes in prices assuming that all other variables remain 
constant these should be used with care as noted previously 
the relationship between currencies and commodity prices is 
a complex one and changes in exchange rates can influence 
commodity prices and vice versa
further details of our exposure to commodity price fluctuations 
are contained within note 33 “financial risk management” part 
iii to the 2010 financial statements
credit risks
details of our exposure to credit risks relating to receivables 
financial instruments and cash deposits are contained within 
note 33 “financial risk management”  part iv to the 2010 
financial statements
disposals and acquisitions
information regarding disposals and acquisitions is provided 
in note 41 “purchases and sales of subsidiaries joint ventures 
associates and other interests in businesses”  to the 2010 financial 
statements and on page 226
critical accounting policies and estimates
many of the amounts included in the financial statements involve 
the use of judgment andor estimation these judgments and 
estimates are based on management’s best knowledge of the 
relevant facts and circumstances having regard to previous 
experience but actual results may differ from the amounts 
included in the financial statements
information about such judgments and estimation is contained 
in note 1 “principal accounting policies” to the 2010 financial 
statements andor the other notes to the 2010 financial statements 
the key areas are listed below
 dual listed company reporting
 asset carrying values
 asset lives
 ore reserve estimates
 close down restoration and clean up obligations
 overburden removal costs
 deferred tax on fair value adjustments
 exploration
 functional currency
 underlying earnings
 post retirement benefits
 deferred tax potentially recoverable on group tax losses
 contingencies
 acquisition accounting
off balance sheet arrangements and 
contractual commitments
the table below presents information in relation to our material 
off balance sheet arrangements principally contingent liabilities 
commitments for capital expenditure and other expenditure 
and commitments under operating leases at 31 december 2010 
information regarding the group’s pension commitments and funding 
arrangements is provided in note 50 to the 2010 financial statements 
information regarding the group’s closedown and restoration 
obligations is provided in note 27 to the 2010 financial statements 
we expect that these contractual commitments for expenditure 
together with other expenditure and liquidity requirements will 
be met from internal cash flow and to the extent necessary from 
the existing facilities
at 31 december 2010
 1 yr 
usm
1 – 3 yrs 
usm
3 – 5 yrs 
usm
 5 yrs 
usm
total 
usm
expenditure commitments in relation to
operating leases 507 854 561 1107 3029
other capital commitments 5219 2264 90 – 7573
5726 3118 651 1107 10602
longterm debt and other financial obligations
debt 1066 1789 3570 7783 14208
interest payments 705 1472 1136 4166 7479
unconditional purchase obligations 2295 2934 2515 10156 17900
other 297 400 35 48 780
4363 6595 7256 22153 40367
total 10089 9713 7907 23260 50969 74 rio tinto 2010 annual report
five year review
selected financial data
the selected consolidated financial data below has been derived from the historical audited consolidated financial statements of  
the rio tinto group the selected consolidated financial data should be read in conjunction with and qualified in their entirety by 
reference to the 2010 financial statements and notes thereto the financial statements as included on pages 157 to 256 have been 
prepared in accordance with international financial reporting standards both as adopted by the eu “eu ifrs” and as issued by  
the international accounting standards board “ifrs” 
rio tinto group
income statement data
for the years ending 31 december 
amounts in accordance with eu ifrs
2010 
usm
2009 
usm
2008 
usm
2007 
usm
2006 
usm
consolidated sales revenue 56576 41825 54264 29700 22465
group operating profit 
a
19694 7506 10194 8571 8974
profit for the year from continuing operations 15281 5784 5436 7746 7867
loss after tax from discontinued operations 97 449 827 – –
profit for the year 15184 5335 4609 7746 7867
basic earnings per share
 b
profit from continuing operations us cents 7354 3017 2868 4649 4562
loss after tax from discontinued operations us cents 49 255 527 – –
profit for the year per share us cents 7305 2762 2341 4649 4562
diluted earnings per share 
b
profit from continuing operations us cents 7311 3007 2855 4629 4543
loss after tax from discontinued operations us cents 49 254 524 – –
profit for the year per share us cents 7262 2753 2331 4629 4543
dividends per share 2010 2009 2008 2007 2006
dividends declared during the year 
b
us cents
 – interim 450 – 556 425 327
 – final 630 450 556 687 523
uk pence
 – interim 282 – 296 209 175
 – final 391 288 379 353 267
australian cents
 – interim 493 – 633 496 429
 – final and special 619 516 830 761 678
 
dividends paid during the year us cents 
b
 
 – ordinary and special 900 556 1243 948 1567
 
weighted average number of shares – basic millions 
b
19610 17636 15701 15729 16305
weighted average number of shares – diluted millions 
b
19726 17696 15773 15796 16371
statement of financial position 
as at 31 december  
amounts in accordance with eu ifrs
2010 
usm
2009 
usm
2008 
usm
restated 
c 
2007 
usm
2006 
usm
total assets 112402 97236 89616 101091 34494
share capitalpremium 10105 9344 5826 3323 3190
total equitynet assets 65274 45925 22461 26293 19385
equity attributable to owners of rio tinto 58333 43831 20638 24772 18232
a  group operating profit under eu ifrs includes the effects of charges and reversals resulting from impairments and profit and loss on disposals of interests in businesses group operating 
profit amounts shown above exclude equity accounted operations finance items tax and discontinued operations
b   the rights issues completed in july 2009 were at a discount to the then market price accordingly earnings per share and dividends per share for all periods up to the date on which the 
shares were issued were adjusted for the bonus element of the issue the bonus factor for rio tinto plc was 12105 and for rio tinto limited was 12679 
c the 31 december 2007 balance sheet has been restated for the revisions to alcan’s fair value accounting which were finalised in 2008 wwwriotintocom 75
overview performance
production reserves 
and operations governance financial statements additional information
acquisitions and divestments 
during 2010 rio tinto acquired an additional interest in ivanhoe mines and completed asset sales totalling us42 billion since 2008 
rio tinto has completed divestments in excess of us11 billion
acquisitions
asset cost usm status
acquired in 2011
copper – ivanhoe mines 751 participation in the strategic rights offering and purchase of additional 
shares increasing the group’s holding to 421
acquired in 2010
copper – ivanhoe mines 1588 purchases of additional shares maturing of convertible debt facility and 
exercise of series a and b warrants increasing the group’s holding to 
403 as at 31 december 2010 rio tinto consolidated oyu tolgoi llc 
on 15 december 2010 following the signing of a new agreement with 
ivanhoe mines
acquired in 2009
copper – ivanhoe mines 388 the purchase of an additional 98 interest increasing the group’s total 
holding to 197
acquired in 2008
none –
divestments
asset proceeds usm status
divested in 2011
alcan engineered products undisclosed sold 61 per cent to investment funds affiliated with apollo global 
management llc apollo and the fonds stratégique d’investissement fsi
divested in 2010
energy – cloud peak 573 secondary public offering
alcan packaging – beauty undisclosed sold to sun european partners llp
alcan packaging – medical flexibles 66 sold to amcor
alcan packaging – food americas 1200 sold to bemis company inc
energy – maules creek rio tinto 757 427 sold to aston resources
energy – vickery rio tinto 757 28 sold to whitehaven coal
alcan packaging – global pharmaceuticals 
global tobacco food europe and food asia 1948 sold to amcor
sundry asset sales 57 sale of assets including ghana bauxite company brockville specialty 
alumina plant and rawhide mine
divested in 2009
energy – jacobs ranch 764 sold to arch coal inc
iron ore – corumbá mine 814 sold to vale
diamonds  minerals – exploration 
projects in argentina and canada 850 sold to vale
aluminium – ningxia smelter  
rio tinto 50 125 sold to qingtongxia aluminium group
exploration – sundry assets 68 sold to multiple parties
energy – cloud peak 741 ipo and connected debt offering
alcan engineered products – composites 349 sold to schweiter technologies
divested in 2008
energy – kintyre project 495 sold to a joint venture
copper – greens creek mine rio tinto 70 750 sale completed to hecla mining the group’s minority partner
copper – cortez joint venture  
rio tinto 40 1695
sold to barrick gold the group’s majority partner for cash plus a deferred 
bonus payment and contingent royalty interest
exploration – sundry assets 134 sold to multiple parties 76 rio tinto 2010 annual report
capital projects
capital and major evaluation projects 
project
approved capital 
cost 100 us statusmilestones
ongoing
alumina – expansion of yarwun alumina refinery 
from 14 million tonnes per year mtpa to 34mtpa
19bn approved in july 2007 the cogeneration plant was commissioned 
in september 2010 and the ship unloader was commissioned in 
november 2010 completion is expected in august 2012 
aluminium – construction of a new 225mw 
turbine at shipshaw power station saguenay 
quebec canada
228m approved in 2008 the project remains on budget and on track to  
be completed by december 2012
coking coal – extension and expansion of kestrel 
mine rio tinto share 80
11bn the investment will extend the life of the mine to 2031 and increase 
production to an average of 57mtpa million tonnes per annum 
extension expected to come on stream in late 2012early 2013 
copper – construction of phase one of oyu  
tolgoi copper and gold mine in mongolia
a
 
59bn rio tinto consolidated oyu tolgoi llc on 15 december 2010 
following the signing of a new agreement with ivanhoe mines first 
ore production is forecast to commence in late 2012 with an initial 
throughput of 100000 tonnes of ore per day
approvedrestarted in 20102011
molybdenum – investment in phases one and two 
of molybdenum autoclave process map project 
to enable lower grade concentrate to be processed 
more efficiently than conventional roasters and 
allow improved recoveries
340m first approved in june 2008 the project was put on hold approval 
was given in april 2010 to restart the project first production from 
phase 1 is anticipated in the fourth quarter of 2012 and full capacity 
of 30 million pounds per annum is scheduled for fourth quarter 
2013 the phase 2 expansion to 60 million pounds per annum is 
anticipated to be completed in the first quarter of 2015 
iron ore – expansion of iron ore company  
of canada’s concentrate capacity  
rio tinto 587
401m initially approved in march 2008 the project recommenced in 
may 2010 rio tinto share us235m it is projected to expand 
concentrate capacity by 4mtpa to 22mtpa by 2012 with options to 
expand further to 26mtpa 
nickel – construction of the eagle nickel  
and copper mine in michigan us
469m approved in june 2010 first production is expected in late 2013 the 
mine is projected to produce an average of 173kt thousand tonnes and 
132kt per year of nickel and copper metal respectively over six years
iron ore – preparation for the expansion of the 
pilbara to 330mtpa and beyond
990m approved in july and august 2010 the funding rio tinto share 
us649m will allow dredging contracts to be issued and long lead 
items to be ordered as part of early works on the expansion of the 
cape lambert port to 180mtpa capacity
iron ore – development of hope downs 4 mine  
in the pilbara rio tinto 50
16bn approved in august 2010 first production is expected in 2013 the 
new mine is projected to have a capacity of 15mtpa and a capital cost 
of us12 billion rio tinto share us06bn rio tinto will fully fund 
the us425 million for the rail rolling stock and power infrastructure 
diamonds – argyle diamond mine underground 
project
16bn originally approved in 2005 the project was slowed in 2009 the 
remaining us803 million to complete was approved in september 
2010 the underground is projected to be fully operational in 2013 
with targeted production of 20 million carats a year it should extend 
the mine life to at least 2019 
iron ore – debottlenecking of dampier port  
to expand the pilbara capacity to 230mtpa
321m approved in september 2010 the project is projected to add 10mtpa 
capacity at the dampier port by q1 2012 no additional capital 
expenditure is required at the mines
aluminium – isal modernisation 487m approved in september 2010 the project is projected to increase 
annual production from 190kt to 230kt between april 2012 and july 
2014 includes us140m in a leading edge casting facility to produce 
value added billet approved in october 
iron ore – expansion of pilbara infrastructure  
to 283mtpa
31bn approved in october 2010 the investment rio tinto share us21bn 
is projected to increase infrastructure capacity by 53mtpa to 283mtpa 
by the end of 2013 further investments in mine expansions will 
likely be required
iron ore – expansion of brockman 4 mine from 
22mtpa to 40mtpa and western turner syncline 
mine from 6mtpa to 15mtpa in the pilbara
12bn approved in december 2010 the two projects represent the first two 
of three mine developments to expand mine capacity to 283mtpa by 
the fourth quarter of 2013 wwwriotintocom 77
overview performance
production reserves 
and operations governance financial statements additional information
approvedrestarted in 20102011 continued
aluminium – phase 1 of 60kt per annum ap60 
plant in quebec
11bn approved in december 2010 us758m will be spent on completing 
the first phase of the ap60 plant in addition to the us376m spent 
to date first hot metal is expected in february 2013
aluminium – modernisation and expansion of 
kitimat smelter
640m a further us300m was approved in december 2010 for further 
construction in preparation for the us25bn modernisation of the 
kitimat smelter this is in addition to us340m spent to date  
final approval is expected in 2011
iron ore – phase two expansion of ioc’s 
concentrate capacity to 233mtpa  
rio tinto 587
277m approved in february 2011 phase two is expected to be complete 
by 2013 rio tinto share us163 million with options to expand 
further to 26mtpa
iron ore – phase two of the marandoo mine 
expansion to sustain production at 230mtpa
933m approved in february 2011 the mine is projected to extend 
marandoo at 15mtpa by 16 years to 2030 
completed in 2010
iron ore – construction of new mesa a
warramboo mine rio tinto 53
901m first ore was produced in february 2010 initial production of 
20mtpa is projected to increase to 25mtpa by the end of 2011
diamonds – diavik rio tinto 60 underground 
development
787m first production at end of march 2010
thermal coal – clermont rio tinto 501 will 
produce 12mtpa largely replacing blair athol as it 
ramps down to 3mtpa
1290m first production in second quarter of 2010 full capacity expected  
to be reached in 2013
iron ore – construction of new 22mtpa brockman 
4 mine and western turner syncline extension of 
tom price mine
1521m both mines commenced production in july 2010 and full capacity 
is expected to be reached by the end of 2011 further expansion 
options are being assessed 
iron ore – investment in cleaner more sustainable 
power generation to support expansion of mining 
capacity in western australia
503m four new gas turbines at the 240mw yurralyi maya site near 
dampier were commissioned and came on line progressively  
in the second half of 2010
copper – northparkes rio tinto 80 e48 block 
cave project extending mine life to 2024
221m the project restarted in september 2009 with a scope change 
including an expanded extraction level and increased reserves 
secondary crushing and loader automation production from e48 
commenced in late 2009 with full production occurring in late 2010
completed in 2009
iron ore – expansion of hope downs mine from 
22mtpa to 30mtpa rio tinto 50
350m approved in august 2007 the expansion work was completed during 
the first half of 2009
completed in 2008
aluminium – development of the 360000 tonne 
per annum greenfield sohar smelter in oman  
rio tinto 20
1700m approved in february 2005 first hot metal was produced in june 2008
aluminium – aluminium spent potlining 
treatment plant in quebec rio tinto 100
225m approved in september 2006 the plant commenced operations in 
june 2008
titanium dioxide – construction by qmm  
rio tinto 80 of a greenfield ilmenite operation 
in madagascar and associated upgrade of 
processing facilities at rtft in canada
1000m first production of ilmenite took place at the end of 2008
iron ore – cape lambert port expansion  
rio tinto 53 from 55 to 80mtpa and  
additional rolling stock and infrastructure
952m approved in january 2007 the project was completed at the end  
of 2008 
following the consolidation of oyu tolgoi llc capital expenditure for 2011 is expected to be approximately us13 billion this includes 
us23 billion for the oyu tolgoi project approved and funded by ivanhoe it also includes us45 billion for sustaining capital expenditure 
rio tinto funded 
evaluation expenditure in 2011 including the simandou iron ore project and the resolution and la granja copper projects is expected to be 
around us900 million
a on 3 february 2011 rio tinto increased its ownership in ivanhoe mines to 421 per cent ivanhoe mines owns 66 per cent of the oyu tolgoi coppergold project   78 rio tinto 2010 annual report
summary
aluminium
energy
diamonds  minerals
mined bauxite
rio tinto share million tonnes
2006 2007 2008 2009 2010
163
209
350
307
334
alumina production
rio tinto share ’000 tonnes
2006 2007 2008 2009 2010
3247
3877
9008
8815
9089
aluminium production
rio tinto share ’000 tonnes
2006 2007 2008 2009 2010
845
1473
4062
3808 3790
xxx
bauxite reserves
rio tinto share million tonnes
2006 2007 2008 2009
1193
1387
1966
1941
1818
2010
mined diamonds
rio tinto share ’000 carats
2006 2007 2008 2009 2010
35162
26023
20816
14026 13843
diamond reserves
rio tinto share ’000 carats
2006 2007 2008 2009 2010
281500
255400
237600
224700
205903
mined borates
rio tinto share ’000 tonnes as b
2
o
3
2006 2007 2008 2009 2010
553 560
610
424
500
xxx
borate reserves
rio tinto share million tonnes as b
2
o
3
2006 2007 2008 2009
219
215 213
246
240
2010
mined coal
rio tinto share million tonnes
2006 2007 2008 2009 2010
1623
1556
1605
1401
728
coal reserves
rio tinto share million tonnes
2006 2007 2008 2009 2010
1975
1936
2002
1119
682
mined uranium
rio tinto share ’000 pounds u
3
o
8
2006 2007 2008 2009 2010
12561 12616
14200 14140
11377
xxx
uranium reserves
rio tinto share ’000 pounds u
3
o
8
2006 2007 2008 2009
121594
136027
140511
123285 120335
2010 wwwriotintocom 79
overview performance
production reserves 
and operations governance financial statements additional information
copper
iron ore
mined copper
rio tinto share ’000 tonnes
2006 2007 2008 2009 2010
803
738
699
805
678
refined copper
rio tinto share ’000 tonnes
2006 2007 2008 2009 2010
299
390
322
412
393
copper reserves
rio tinto share million tonnes
2006 2007 2008 2009 2010
1799
1726
1672
1572
1668
xxx
mined gold
rio tinto share ’000 ounces
2006 2007 2008 2009
1003
1233
501
1111
772
2010
xxx
mined titanium dioxide
rio tinto share ’000 tonnes
2006 2007 2008 2009
1415
1458
1524
1147
1392
2010
xxx
titanium dioxide reserves
rio tinto share million tonnes
2006 2007 2008 2009
750 754
740
701
671
2010
mined iron ore
rio tinto share million tonnes
2006 2007 2008 2009 2010
1328
1447
1534
1715
1846
iron ore reserves
rio tinto share million tonnes
2006 2007 2008 2009 2010
2430
2449
2720
2532 2527 80 rio tinto 2010 annual report
metals and minerals production  
 
 
 
 
 2010 production 2009 production 2008 production
 
rio tinto
 share a total
rio tinto
 share total
rio tinto  
share total
rio tinto 
share
alumina ‘000 tonnes  
gardanne france b 1000 – – –  –  38 38
gove australia  1000 2473 2473 2519 2519 2325 2325
jonquière vaudreuil canada c
 
1000 1301 1301 1125 1125 1370 1370
queensland alumina australia  800 3821 3057 3959 3167 3842 3074
são luis alumar brazil  100 2507 251 1657 166 1504 150
yarwun australia  1000 1377 1377 1347 1347 1293 1293
specialty plants canadafrancegermany b d 1000 631 631 492 492 758 758
rio tinto total 9089 8815 9008
aluminium ‘000 tonnes  
alma canada  1000 434 434 435 435 424 424
alouette septîles canada  400 569 228 573 229 572 229
alucam edéa cameroon  467 76 35 73 34 91 43
anglesey uk e 510 – – 106 54 118 60
arvida canada  1000 174 174 171 171 172 172
beauharnois canada f 1000 – – 11 11 50 50
bécancour canada  251 417 104 420 105 415 104
bell bay australia  1000 177 177 177 177 178 178
boyne island australia  594 558 332 556 331 556 330
dunkerque france  1000 260 260 244 244 254 254
grandebaie canada  1000 218 218 215 215 212 212
isal reykjavik iceland  1000 190 190 190 190 187 187
kitimat canada  1000 184 184 224 224 247 247
lannemezan france g 1000 – – – –  5 5
laterrière canada  1000 212 212 235 235 234 234
lochaber uk  1000 41 41 38 38 43 43
lynemouth uk  1000 145 145 109 109 165 165
ningxia qingtongxia china h – – – 10 5 163 81
saintjeandemaurienne france  1000 96 96 101 101 130 130
sebree us  1000 196 196 193 193 197 197
shawinigan canada  1000 100 100 99 99 100 100
sohar oman i 200 367 73 351 70 49 10
søral husnes norway  500 88 44 98 49 171 86
tiwai point new zealand  794 344 273 271 215 316 250
tomago australia  516 528 272 528 272 523 270
rio tinto total 3790 3808 4062
bauxite ‘000 tonnes  
awaso ghana j – 42 34 440 352 796 637
gove australia  1000 7190 7190 7185 7185 6245 6245
porto trombetas mrn brazil  120 17022 2043 15645 1877 18063 2168
sangaredi guinea  k 12413 5586 11216 5047 13181 5931
weipa australia 1000 18591 18591 16235 16235 20006 20006
rio tinto total 33443 30696 34987
borates ‘000 tonnes l  
rio tinto minerals – boron us 1000 483  483  411  411  591 591
rio tinto minerals – tincalayu argentina 1000 18  18  13  13  19 19
rio tinto total  500  424  610
coal – hard coking ‘000 tonnes  
rio tinto coal australia  
hail creek coal australia 820 7183 5890 6308 5173 6049 4960
kestrel coal australia  800 3846 3076 2868 2294 3089 2471
rio tinto total hard coking coal 8967
7467 7431
 
see notes on page 83  wwwriotintocom 81
overview performance
production reserves 
and operations governance financial statements additional information
  
  
 
2010 production 2009 production 2008 production
rio tinto
 share a total
rio tinto 
share total 
rio tinto  
share total
rio tinto 
share
coal – semisoft coking ‘000 tonnes m   
rio tinto coal australia   
hunter valley australia 757 2469 1869 2626 1988 2865 2169
mount thorley australia 606 1460 884 1112 674 1168 708
warkworth australia 421 764 321 530 223 386 162
rio tinto total semisoft coking coal 3075 2885 3039
coal – thermal ‘000 tonnes m   
rio tinto coal australia   
bengalla australia 303 5477 1659 5466 1655 5357 1622
blair athol australia  712 6803 4846 11325 8068 10194 7262
clermont australia n 501 3770 1889 – – – –
hunter valley australia 757 8442 6391 8606 6515 7886 5970
kestrel coal australia  800 713 571 849 679 929 744
mount thorley australia  606 1518 920 2230 1351 1780 1078
tarong coal australia o – – – – –  262 262
warkworth australia 421 5120 2154 4632 1949 5652 2378
total australian thermal coal 18430 20217 19317
us coal   
antelope us p – 31156 15043 30865 29031 32474 32474
colowyo us q 1000 2371 2371 3214 3214 4446 4446
cordero rojo us p – 33518 16184 35687 33361 36318 36318
decker us p – 2521 609 4161 2017 5939 2970
jacobs ranch us r – – – 26537 26537 38206 38206
spring creek us p – 16726 8076 16035 15360 16341 16341
total us thermal coal 42283 109520 130755
rio tinto total thermal coal 60713 129738 150072
copper mined ‘000 tonnes   
bingham canyon us 1000 2498 2498 3035 3035 2380 2380
escondida chile 300 10110 3033 10612 3183 12817 3845
grasberg – joint venture indonesia s 400 1268 507 2693 1077 178 71
northparkes australia 800 390 312 343 274 248 198
palabora south africa 577 746 430 826 476 851 491
rio tinto total 6781 8047 6985
copper refined ‘000 tonnes   
escondida chile 300 3001 900 3272 982 2575 773
kennecott utah copper us 1000 2693 2693 2742 2742 2006 2006
palabora south africa  577 580 334 694 400 759 438
rio tinto total 3928 4124 3216
diamonds ‘000 carats   
argyle australia  1000 9804 9804 10591 10591 15076 15076
diavik canada 600 6500 3900 5565 3339 9225 5535
murowa zimbabwe 778 178 139 124 97 264 205
rio tinto total 13843 14026 20816
 
see notes on page 83 
  82 rio tinto 2010 annual report
metals and minerals production continued 
 
 
 
 2010 production 2009 production 2008 production
 
rio tinto
 share a total
rio tinto 
share total
rio tinto  
share total
rio tinto 
share
gold mined ‘000 ounces  
barneys canyon us 1000 2 2 22 55
bingham canyon us 1000 466 466 582 582 368 368
cortezpipeline us t – –  – – – 72 29
escondida chile 300 174 52 144 43 144 43
grasberg – joint venture indonesia s 400 458 183 1072  429  – –
greens creek us u – –  – – – 18 12
northparkes australia 800 65 52 34 27 32 26
rawhide us v – 9 9 19 19 18 9
others  13 7 13 8 14 8
rio tinto total 772 1111 501
gold refined ‘000 ounces  
kennecott utah copper us 1000 596 596 479 479 303 303
iron ore ‘000 tonnes   
corumbá brazil w – – –  1509  1509  2032 2032
hamersley iron – eight wholly owned mines australia 1000 112706 112706 106808 106808 95553 95553
hamersley – channar australia 600 11016 6610 11041 6625 10382 6229
hamersley – eastern range australia x 9206 9206 9318 9318 8186 8186
hope downs australia  500 31720 15860 20634 10317 10936 5468
iron ore company of canada canada  587 14710 8638 13844 8129 15830 9295
robe river australia y 530 59641 31610 54417 28841 50246 26631
rio tinto total 184629 171547 153394
lead ‘000 tonnes  
greens creek us u – – ––– 46 32
molybdenum ‘000 tonnes  
bingham canyon us 1000 129 129 113 113 106 106
pig iron ‘000 tonnes  
hismelt
®
 australia z 600 – – – – 144 87
salt ‘000 tonnes  
dampier salt australia  684 7589 5188 8555 5848 8974 6135
silver mined ‘000 ounces  
bingham canyon us 1000 3754 3754 4871 4871 3414 3414
escondida chile  300 6140 1842 5424 1627 6167 1850
grasberg – joint venture indonesia s 400 1721 688 3685 1474 549 220
greens creek us u – –  – – – 1815 1275
others  – 752 577 757 596 655 417
rio tinto total 6862 8569 7176
silver refined ‘000 ounces  
kennecott utah copper us 1000 4732 4732 4050 4050 3252 3252
talc ‘000 tonnes  
rio tinto minerals – talc australiaeuropenorth america aa 1000 1000 1000 888 888 1163 1163
 
see notes on page 83  wwwriotintocom 83
overview performance
production reserves 
and operations governance financial statements additional information
  
  
 
2010 production 2009 production 2008 production
rio tinto
 share a total
rio tinto 
share total 
rio tinto  
share total
rio tinto 
share
titanium dioxide feedstock ‘000 tonnes   
rio tinto iron  titanium canadasouth africa bb cc 1000 1392 1392 1147 1147 1524 1524
uranium ‘000 lbs u
3
o
8
   
energy resources of australia australia  684 8614 5891 11500 7865 11773 8052
rössing namibia 686 7999 5485 9150 6275 8966 6149
rio tinto total 11377 14140 14200
zinc ‘000 tonnes   
greens creek us u – – – – – 139 98
production data notes 
mine production figures for metals refer to the total quantity of metal produced in concentrates 
leach liquor or doré bullion irrespective of whether these products are then refined on site except  
for the data for bauxite and iron ore which represent production of marketable quantities of ore 
a rio tinto percentage share shown above is as at the end of 2010 and has applied over the period 
2008 – 2010 except for those operations where the rio tinto ownership has varied during the year 
the weighted average ownership for each year is shown below the rio tinto share varies at 
individual mines and refineries in the “others“ category and thus no value is shown 
 rio tinto share  
operation see note 2010 2009 2008
antelope p 462 940 1000
cordero rojo p 462 940 1000
decker p 231 470 500
spring creek p 462 940 1000
 
b production of smelter grade alumina at gardanne ceased at the end of 2008 production 
continues from the gardanne specialty alumina plant  
c jonquière’s vaudreuil’s production shows smelter grade alumina only and excludes hydrate 
produced and used for specialty alumina 
d rio tinto sold its 100 per cent interest in the brockville specialty alumina plant with an 
effective date of 20 september 2010 production data are shown up to that date 
e the anglesey smelter ceased smelting operations at the end of the third quarter of 2009 
casting operations continue 
f the beauharnois smelter ceased smelting operations in the second quarter of 2009 casting 
operations continue 
g the lannemezan smelter closed in the first quarter of 2008 
h rio tinto sold its 50 per cent interest in the ningxia aluminium smelter with an effective date 
of 26 january 2009 production data are shown up to that date 
i production at the sohar smelter commenced in the third quarter of 2008  
j rio tinto alcan had an 80 per cent interest in the awaso mine but purchased the additional  
20 per cent of production rio tinto alcan sold its interest in ghana bauxite company owner 
of the awaso mine with an effective date of 1 february 2010 
k rio tinto has a 2295 per cent shareholding in the sangaredi mine but receives 450 per cent  
of production under the partnership agreement  
l borate quantities are expressed as b
2
o
3
 
m thermal coal and semisoft coking coal were previously reported under “other coal“ 
n production commenced at clermont in the second quarter of 2010 
o rio tinto sold its 100 per cent interest in tarong coal with an effective date of 31 january 2008 
production data are shown up to that date 
 
 
p as a result of the initial public offering of cloud peak energy inc on 20 november 2009 rio tinto 
held a 483 per cent interest in the antelope cordero rojo and spring creek mines and  
a 241 per cent interest in the decker mine these interests were formerly reported under 
 rio tinto energy america but are now managed by cloud peak energy following a secondary 
public offering in december 2010 rio tinto completed the divestment of its entire interest in 
cloud peak energy inc with an effective date of 15 december 2010 production data are shown 
up to that date 
q during 2008 rio tinto acquired a 100 per cent interest in the colowyo mine having previously 
held a partnership interest all of colowyo’s production was already included in rio tinto’s 
share of production  
r rio tinto completed the sale of its 100 per cent interest in the jacobs ranch mine on  
1 october 2009 production data are shown up to that date 
s through a joint venture agreement with freeportmcmoran copper  gold fcx rio tinto  
is entitled to 40 per cent of additional material mined as a consequence of expansions and 
developments of the grasberg facilities since 1998 total production reflects the total quantities 
attributable to the joint venture  
t rio tinto sold its 40 per cent interest in the cortezpipeline joint venture on 5 march 2008 
with an effective date end of february 2008 production data are shown up to that date 
u rio tinto sold its 703 per cent share in the greens creek joint venture with an effective date  
of 16 april 2008 production data are shown up to that date 
v on 28 october 2008 rio tinto increased its shareholding in the rawhide joint venture from  
51 per cent to 100 per cent the previous joint venture shareholder continued to be entitled  
to 49 per cent of production until 31 december 2008 thereafter rio tinto has been entitled  
to 100 per cent rio tinto sold its 100 per cent interest in the rawhide mine with an effective 
date of 25 june 2010 production data are shown up to that date 
w rio tinto completed the sale of its 100 per cent interest in the corumbá mine effective  
18 september 2009 
x rio tinto’s share of production includes 100 per cent of the production from the eastern range 
mine under the terms of the joint venture agreement rio tinto 54 per cent hamersley iron 
manages the operation and is obliged to purchase all mine production from the joint venture 
y production at the mesa a mine commenced in the first quarter of 2010 
z in march 2009 rio tinto announced that hismelt
®
 would be placed on an extended care and 
maintenance programme in december 2010 the hismelt
®
 joint venture partners agreed to 
close the kwinana site permanently and terminate the joint venture 
aa in february 2011 rio tinto announced that it had received a binding offer for the purchase  
of 100 per cent of its talc business talc production includes some products derived from 
purchased ores  
bb quantities comprise 100 per cent of rio tinto fer et titane and 50 per cent of richards bay 
minerals’ rbm production until late 2009 when rbm concluded a broad based black 
economic empowerment transaction rio tinto iron  titanium’s share of rbm production 
reflects a decrease from 50 to 37 per cent with effect from 9 december 2009 
cc ilmenite mined in madagascar is being processed in canada with effect from june 2009 
production figures are sometimes more precise than the rounded numbers shown hence an 
apparent small difference may result where the rio tinto share is totalled 
  84 rio tinto 2010 annual report
ore reserves 
 
 
 
ore reserves and mineral resources for rio tinto managed operations are reported in accordance with the australasian code for reporting of 
exploration results mineral resources and ore reserves december 2004 the jorc code as required by the australian securities exchange  
asx codes or guidelines similar to jorc with only minor regional variations have been adopted in south africa canada the us chile peru  
the philippines the uk ireland and europe together these codes represent current best practice for reporting ore reserves and mineral resources 
the jorc code envisages the use of reasonable investment assumptions including the use of projected long term commodity prices in calculating 
reserve estimates however for us reporting the us securities and exchange commission requires historical price data to be used for this 
reason some reserves reported to the sec in the form 20f may differ from those reported below 
ore reserve and mineral resource information in the tables below is based on information compiled by competent persons as defined by jorc 
most of whom are full time employees of rio tinto or related companies each has had a minimum of five years relevant estimation experience  
and is a member of a recognised professional body whose members are bound by a professional code of ethics each competent person consents  
to the inclusion in this report of information they have provided in the form and context in which it appears competent persons responsible for 
the estimates are listed on page 93 by operation along with their professional affiliation employer and accountability for reserves andor 
resources where operations are not managed by rio tinto the reserves are published as received from the managing company 
the ore reserve figures in the following tables are as of 31 december 2010 summary data for year end 2009 are shown for comparison metric 
units are used throughout the figures used to calculate rio tinto’s share of reserves are often more precise than the rounded numbers shown 
in the tables hence small differences might result if the calculations are repeated using the tabulated figures  
 
 
proved ore reserves
 at end 2010
probable ore reserves 
at end 2010 total ore reserves 2010 compared with 2009 rio tinto share
 
type  
of mine  
a  tonnage grade tonnage grade tonnage grade  
interest

recoverable 
mineral
    2010 2009 2010 2009  
bauxite b   
millions  
of tonnes  al
2
o
3
millions 
of tonnes  al
2
o
3
millions 
of tonnes
millions 
of tonnes  al
2
o
3
 al
2
o
3
  
millions 
of tonnes
reserves at operating mines      
gove australia op  132 494 46 492 179 186 494 494  1000 179
porto trombetas mrn brazil c op  71 507 25 509 96 214 508 496  120 12
sangaredi guinea d op   117 524 117 130 524 524  230 27
weipa australia op  612 526 990 532 1602 1699 530 527  1000 1602
total      1818
 
     
marketable 
product
borates e   
millions  
of tonnes 
millions 
of tonnes
millions 
of tonnes
millions 
of tonnes  
millions 
of tonnes
reserves at operating mine      
rio tinto minerals – boron us op  144  96 240 246  1000 24
 
   reserves marketable reserves marketable reserves
marketable  
coal quality 
  
coal  
type 
 g 
proved probable 
at end 
2010
proved probable 
at end 
2010
total
2010
total
2009 h h 
avg  
yield 
to give 
mark et ab le 
reserves 
marketable 
reserves
coal f   
millions  
of tonnes 
millions 
of tonnes
millions 
of tonnes
millions 
of tonnes
millions 
of tonnes
millions 
of tonnes
calorific
value
mjkg
sulphur 
content 
  
millions 
of tonnes
reserves at operating mines      
rio tinto coal australia 
australia      
bengalla  oc sc 162 10 129 8 137 126 2784 048 80 303 41
blair athol i oc sc 11 9 9 18 2563 031 89 712 7
clermont  oc sc 186 5 178 4 182 189 2790 033 96 501 91
hail creek j oc mc 103 110 60 66 126 209 3220 035 59 820 104
hunter valley operations  oc sc  mc 337 49 229 34 263 278 2899 058 68 757 199
kestrel coal  ug sc  mc 54 98 45 81 126 128 3160 059 83 800 101
mount thorley operations  oc sc  mc 31 5 21 3 24 24 2941 043 65 606 14
warkworth  oc sc  mc 215 185 140 121 261 270 3068 044 65 421 110
subtotal      667
 
see notes on page 87  wwwriotintocom 85
overview performance
production reserves 
and operations governance financial statements additional information
  
  
 
  reserves marketable reserves marketable reserves
marketable  
coal quality rio tinto share
 
type  
of mine  
a  
coal  
type  
g 
proved probable
at end 
2010
proved probable 
at end 
2010
total
2010
total
2009 h h 
avg  
yield 
to give 
marketable 
reserves
interest

marketable 
reserves
coal continued f   
millions 
of tonnes
millions 
of tonnes
millions 
of tonnes
millions 
of tonnes
millions 
of tonnes
millions 
of tonnes
calorific 
value 
mjkg 
sulphur 
content 
 
millions 
of tonnes
us coal us     
antelope k oc sc – 265 – – – – –
colowyo l oc sc 12 2 12 2 15 17 2395 045 100 1000 15
cordero rojo k oc sc – 372 – – – – –
decker k oc sc – 2 – – – – –
spring creek k oc sc – 272 – – – – –
subtotal     15
total reserves at  
operating mines     682
other undeveloped reserves m     
rio tinto coal australia 
australia     
mount pleasant  oc sc 394 324 324 350 2677 047 82 757 245
 
  
proved ore reserves
 at end 2010
probable ore reserves 
at end 2010
total ore reserves 2010  
compared with 2009 
 
type  
of mine  
a   tonnage grade tonnage grade tonnage grade 
average 
mill 
recovery 

interest

recoverable 
metal
   2010 2009 2010 2009 
copper   
millions 
of tonnes  cu
millions 
of tonnes  cu
millions 
of tonnes
millions 
of tonnes  cu  cu 
millions of 
tonnes
reserves at operating mines     
bingham canyon us      
– open pit and stockpiles n op  470 050 504 038 974 524 044 047 86 1000 3691
escondida chile       
– sulphide op  726 115 869 091 1594 1659 102 107 82 300 3976
– sulphide leach op  783 051 1735 053 2518 2377 052 054 30 300 1185
– oxide op  76 075 56 090 131 121 081 081 68 300 0218
grasberg indonesia op  ug  825 109 1750 093 2575 2590 098 100 89 o 6973
northparkes australia       
– open pit and stockpiles p op  9 041 9 10 041 047 85 800 0024
– underground ug  67 088 67 70 088 089 89 800 0420
palabora south africa q ug  62 060  62 75 060 060 88 577 0190
total     16676
reserves at development projects    
eagle us r ug  41 268 41 36 268 293 95 1000 0105
oyu tolgoi mongolia       
– hugo dummett north s ug  410 190 410 – 190 –  92 266 1910
– hugo dummett north 
extension t ug  27 185 27 – 185 –  94 249 0116
– south oyu u ug  127 058 828 048 955 930 049 050 81 266 1012
total     3144
     
recoverable 
diamonds
diamonds b   
millions 
of tonnes
carats 
per tonne
millions 
of tonnes
carats 
per tonne
millions 
of tonnes
millions 
of tonnes
carats  
per tonne 
carats  
per tonne 
millions 
of carats
reserves at operating mines      
argyle australia v op  ug  16 11 60 25 77 85 22 21 1000 1666
diavik canada op  ug  8 29 10 30 18 20 29 30 600 317
murowa zimbabwe w op    10 09 10 21 09 07 778 76
total       2059
 
see notes on page 87 
  86 rio tinto 2010 annual report
ore reserves continued 
 
 
 
 
proved ore reserves
 at end 2010
probable ore reserves 
at end 2010
total ore reserves 2010  
compared with 2009 rio tinto share
 
type  
of mine  
a  tonnage gradetonnage grade tonnage grade 
average 
mill 
recovery  
 
interest

recoverable 
metal
    2010 2009 2010 2009  
gold   
millions  
of tonnes 
grammes 
per tonne
millions 
of tonnes
grammes 
per tonne
millions 
of tonnes
millions 
of tonnes
grammes 
per tonne
grammes 
per tonne  
millions 
of ounces
reserves at operating mines       
bingham canyon us
 
      
– open pit and stockpiles n op  470 022 504 018 974 524 020 025 65 1000 4062
grasberg indonesia op  ug  825 103 1750 074 2575 2590 083 086 69 o 12829
northparkes australia        
– open pit and stockpiles p op  9 027 9 10 027 033 76 800 0045
– underground ug     67 033 67 70 033 034 73 800 0416
total      17352
reserves at development projects      
eagle us r ug   41 027 41 36 027 029 73 1000 0026
oyu tolgoi mongolia        
– hugo dummett north s ug   410 040 410 – 040 –  83 266 1162
– hugo dummett north  
extension t ug   27 072 27 – 072 –  85 249 0132
– south oyu u op  127 093 828 027 955 930 036 036 75 266 2189
total      3510
      
marketable
product
iron ore b   
millions  
of tonnes fe
millions 
of tonnes fe
millions 
of tonnes
millions 
of tonnes fe fe  
millions 
of tonnes
reserves at operating mines       
hamersley wholly owned australia      
– brockman 2 brockman ore x op  11 626 1 625 12 15 626 627  1000 12
– brockman 4 brockman ore op  353 622 251 619 603 621 620 620  1000 603
– marandoo marra mamba ore y op  205 634 31 612 236 49 631 615  1000 236
– mt tom pr ice br ockman ore z op  29 637 54 632 83 93 634 636  1000 83
– mt tom pr ice  marra mamba ore aa op  18 614 2 589 20 23 612 611  1000 20
– nammuldi marra mamba ore op  10 613 6 612 16 18 613 612  1000 16
– paraburdoo brockman ore op  9 633 5 637 14 15 635 631  1000 14
– turee central brockman ore op  72 620 6 615 78 74 619 619  1000 78
– western turner syncline 
brockman ore op  224 625 67 613 291 314 622 619  1000 291
– yandicoogina pisolite ore hg bb op  171 586 5 585 176 209 586 585  1000 176
– yandicoogina process product cc op  91 586 91 102 586 589  1000 91
hamersley – channar australia          
– brockman ore dd op  44 631 21 627 65 81 630 630  600 39
hamersley – eastern range australia          
– brockman ore ee op  48 629 10 627 58 71 628 628  540 31
hope downs 1 marra mamba ore op  20 616 304 615 324 353 615 614  500 162
iron ore comp any of canada canada ff op  366 650 272 650 638 584 650 650  587 375
robe river australia          
– pannawonica pisolite ore op  190 574 58 564 248 267 572 573  530 131
– west angelas marra mamba ore op  155 621 165 613 320 347 617 617   530 170
total           2527
reserves at development projects        
hope downs 4 brockman ore op  73 630 64 632 136 136 631 631   500 68
molybdenum   
millions  
of tonnes mo
millions 
of tonnes mo
millions 
of tonnes
millions 
of tonnes mo mo  
millions 
of tonnes
reserves at operating mine      
bingham canyon us       
– open pit and stockpiles n gg op  470 0042 504 0035 974 524 0038 0044 71 1000 0265
nickel   
millions  
of tonnes ni
millions 
of tonnes ni
millions 
of tonnes
millions 
of tonnes ni ni  
reserves at development project              
eagle us r ug   41 315 41 36 315 347 87 1000 0113
 
see notes on page 87  wwwriotintocom 87
overview performance
production reserves 
and operations governance financial statements additional information
  
  
 
  
proved ore reserves
 at end 2010
probable ore reserves 
at end 2010
total ore reserves 2010  
compared with 2009 rio tinto share
 
type  
of mine  
a   tonnage grade tonnage grade tonnage grade 
average 
mill 
recovery 

interest

recoverable 
metal
   2010 2009 2010 2009 
silver   
millions 
of tonnes
grammes 
per tonne
millions 
of tonnes
grammes 
per tonne
millions 
of tonnes
millions 
of tonnes
grammes 
per tonne 
grammes 
per tonne 
millions 
of ounces
reserves at operating mines              
bingham canyon us      
– open pit and stockpiles n op  470 213 504 186 974 524 199 208 74 1000 45846
grasberg indonesia op  ug  825 422 1750 408 2575 2590 412 418 70 o 80141
total     125987
     
marketable 
product
talc e   
millions 
of tonnes
millions 
of tonnes
millions 
of tonnes
millions 
of tonnes  
millions 
of tonnes
reserves at operating mines     
rio tinto minerals – talc hh op  ug  235 87 322 335  1000 322
europenorth americaaustralia    
titanium dioxide feedstock e 
millions 
of tonnes
millions 
of tonnes
millions 
of tonnes
millions 
of tonnes  
millions 
of tonnes
reserves at operating mines     
rtft canada op  272 235 507 514  1000 507
qmm madagascar ii do  18 75 93 119  800 74
rbm south africa do  53 188 242 249  370 89
total     671
 
    
recoverable 
metal
uranium   
millions 
of tonnes u
3
o
8
millions 
of tonnes u
3
o
8
millions 
of tonnes
millions 
of tonnes u
3
o
8
 u
3
o
8
 
millions 
of tonnes
reserves at operating mines     
energy resources of australia australia    
– ranger 3 jj op  35 0213 214 0106 249 277 0121 0135 85 684 0017
rössing namibia kk op  461 0032 1254 0040 1715 1927 0038 0031 84 686 0037
total       0055
notes 
a type of mine op open pit oc open cut ug underground do dredging operation 
b reserves of iron ore bauxite and diamonds are shown as recoverable reserves of marketable 
product after accounting for all mining and processing losses mill recoveries are therefore  
not shown 
c the decrease in reserves at porto trombetas results from production as well as reclassification 
of material to resource ahead of permitting 
d the decrease in reserves at sangaredi follows production 
e reserves of industrial minerals are expressed in terms of marketable product ie after all mining 
and processing losses in the case of borates the marketable product is b
2
o
3
 
f for coal the yield factors shown reflect the impact of further processing where necessary  
to provide marketable coal  
g coal type sc steamthermal coal mc metallurgicalcoking 
h analyses of coal from the us were undertaken according to astm standards on an “as 
received“ moisture basis whereas the coals from australia have been analysed on an  
“air dried“ moisture basis in accordance with australian standards marketable reserve 
tonnages are reported at product moisture 
i the reduced reserves at blair athol reflect production and reclassification of material to 
resources following an economic reevaluation 
j the lower reserve at hail creek has resulted from model updates and yield data refinement 
production depletions and reclassification of tonnes to resource following a strategic review 
k rio tinto completed the divestment of its 483 per cent interest in the antelope cordero rojo 
and spring creek mines and its 241 per cent interest in the decker mine with an effective date 
of 15 december 2010 
l the lower reserve tonnage at colowyo follows production depletion 
m the term “other undeveloped reserves“ is used here to describe material that is economically 
viable on the basis of technical and economic studies but for which mining and processing 
permits may have yet to be requested or obtained there is a reasonable but not absolute 
certainty that the necessary permits will be issued and that mining can proceed when required 
n a strategic review of the bingham canyon pit has led to significant conversions of resources to 
reserves with resulting recasting of tonnage and grade figures this has added tonnes far in 
excess of the annual production 
o  under the terms of a joint venture agreement between rio tinto and fcx rio tinto is entitled 
to a direct 40 per cent share in reserves discovered after 31 december 1994 and it is this 
entitlement that is shown 
p  tonnage and grade depletions at northparkes stem from campaign mining and selective 
stockpiling ahead of processing  
q the decrease in the palabora reserve tonnage follows production as well as planning and 
scheduling updates 
 
r the eagle reserve increase is the result of an updated economic model and a mine design review 
s hugo dummett north is reported for the first time as a result of technical and economic studies  
t hugo dummett north extension is reported for the first time as a result of technical and 
economic studies 
u rio tinto‘s interest in south oyu increased from 199 to 266 per cent during 2010  
v mine production has reduced the reserve at argyle 
w a geological reinterpretation and subsequent model update has led to a revision of the 
murowa reserve 
x the reserve decrease at hamersley brockman 2 reflects production and updating of the model 
y hamersley marandoo marra mamba ore reserve increase follows a strategic review 
z the hamersley mt tom price brockman ore reserve decrease reflects production and updating 
of the model 
aa production led to a decrease in the hamersley mt tom price marra mamba ore reserve 
bb the hamersley yandicoogina pisolite ore hg reserve decrease reflects production and  
a model update 
cc the hamersley yandicoogina process product reserve tonnage decreased following 
production and selective stockpiling 
dd the hamersley channar brockman ore reserve decrease reflects a model update  
and production 
ee the hamersley eastern range brockman ore reserve decrease reflects a model update 
and production 
ff reserves at iron ore company of canada are reported as marketable product 65 per cent 
pellets and 35 per cent concentrate for sale at a natural moisture content of two per cent using 
process upgrade factors derived from current ioc concentrating and pellet operations and  
a modelling cut off grade of 28 per cent concentrate weight yield the marketable product is 
obtained from mined material comprising 860 million dry tonnes at 382 per cent iron proved 
and 630 million dry tonnes at 378 per iron probable 
gg molybdenum grades interpolated from exploration drilling assays have been factored based  
on a long reconciliation history to blasthole and mill samples 
hh in february 2011 rio tinto announced that it had received a binding offer for the purchase  
of 100 per cent of its talc business 
ii reserve changes at qmm are due to decreased metallurgical recovery mine design changes  
and the conversion of unscheduled reserve material to resources 
jj mine production and planning updates have reduced the ranger 3 reserve 
kk production together with a revised model has led to a decrease in rössing reserve tonnes and 
an increase in grade 88 rio tinto 2010 annual report
mineral resources 
 
 
as required by the australian securities exchange the following tables contain details of other mineralisation that has a reasonable prospect  
of being economically extracted in the future but which is not yet classified as proved or probable reserves this material is defined as mineral 
resources under the jorc code estimates of such material are based largely on geological information with only preliminary consideration  
of mining economic and other factors while in the judgment of the competent person there are realistic expectations that all or part of the 
mineral resources will eventually become proved or probable reserves there is no guarantee that this will occur as the result depends on 
further technical and economic studies and prevailing economic conditions in the future as in the case of reserves managed operations’ 
estimates are completed using or testing against rio tinto long term pricing and market forecastsscenarios 
resources are stated as additional to the reserves reported earlier where operations are not managed by rio tinto the resources are published 
as received from the managing company where new project resources or reserves are footnoted as being reported for the first time additional 
information about them can be viewed on the rio tinto website in the section titled “what we produce” 
 
 
measured resources
 at end 2010
indicated resources 
at end 2010
inferred resources 
at end 2010
total resources 2010 
compared with 2009
 
likely 
mining 
method  
a tonnage grade tonnage grade tonnage grade tonnage  grade
rio tinto 
interest

   2010 2009 2010 2009
bauxite  
millions  
of tonnes  al
2
o
3
millions 
of tonnes  al
2
o
3
millions 
of tonnes  al
2
o
3
millions 
of tonnes
millions  
of tonnes  al
2
o
3
  al
2
o
3
gove australia op 12 494 32 494 4 501 49 49 495 494 1000
porto trombetas mrn brazil b op 101 481 23 482 412 491 536 441 489 492 120
sangaredi guinea  op 82 487 179 483 230 483 491 491 484 484 230
weipa australia op 137 501 1432 512 446 519 2014 1889 513 512 1000
borates  
millions  
of tonnes 
millions 
of tonnes
millions 
of tonnes
millions 
of tonnes
millions  
of tonnes  
rio tinto minerals – boron us c  op     01 01 01   1000
jadar serbia d ug     162 162 162   1000
   coal resources at end 2010      
  
coal  
type  
e  measured indicated inferred     
coal f    
millions 
of tonnes
millions 
of tonnes
millions 
of tonnes
millions 
of tonnes
millions  
of tonnes    
chapudi south africa g oc sc 92 600 694 1386 1040  580
rio tinto coal australia australia    
bengalla h oc  ug sc  mc 12 18 53 83 170  303
blair athol i oc sc 6 02 6 7  712
clermont  oc sc 11 4 15 15  501
hail creek j oc mc 131 124 110 365 136  820
hunter valley operations k oc  ug sc  mc 201 428 368 997 1413  757
kestrel coal l ug sc  mc 1 3 4 9  800
kestrel west ug sc 106 33 139 139  800
lake elphinstone oc sc  mc 120 42 162 162  820
maules creek m oc sc  mc – 398  – 
mount pleasant n oc  ug sc  mc 162 245 205 612 699  757
mount thorley operations o oc  ug sc  mc 1 25 74 99 129  606
oaklands oc sc 59658490 1270 1280  757
valeria oc sc 69864 762 762  712
vickery p oc  ug sc  mc – 300  – 
warkworth q oc  ug sc  mc 4 175 299 477 530  421
winchester south oc sc  mc  17 175 192 192  750
us coal us     
antelope r oc sc – 73  –
colowyo oc sc 461401 59 57  1000
cordero rojo r oc sc – 159  –
 
see notes on page 92  wwwriotintocom 89
overview performance
production reserves 
and operations governance financial statements additional information
  
  
 
 
measured resources
 at end 2010
indicated resources
 at end 2010
inferred resources
 at end 2010
total resources 2010 
compared with 2009
 
likely 
mining 
method  
a tonnage grade tonnage grade tonnage grade tonnage grade
rio tinto 
interest

  2010 2009 2010 2009
copper  
millions 
of tonnes  cu
millions 
of tonnes  cu
millions 
of tonnes  cu
millions  
of tonnes 
millions  
of tonnes  cu  cu
bingham canyon us s op 86 014 86  647 014 047 1000
eagle us t ug 06 075 01 086 07  09 077 212 1000
escondida chile      
– sulphide u op 62 075 48 074 653 072 763 742 072 083 300
– sulphide leach v op 210 044 495 042 2707 045 3412 3874 045 047 300
– oxide v op 12 080 12 34 080 078 300
grasberg indonesia w op  ug 502 071 1778 062 91 039 2371 2863 063 056 w
la granja peru op 3000 051 3000 2770 051 051 1000
northparkes australia x op  ug 14 091 4 071 271 055 288 17 057 086 800
oyu tolgoi mongolia      
– heruga etg y ug 910 048 910 760 048 048 249
– heruga ivn z ug 60 048 60 –  048 – 266
– hugo dummett north aa ug 293 171 723 097 1016 1426 118 139 266
– hugo dummett north extension bb op  ug 90 177 96 115 186 213 145 151 249
– hugo dummett south cc ug 490 105 490 490 105 105 266
– south oyu cc op 164 042 267 034 431 456 037 038 266
palabora south africa      
– stockpiles  64 031 64 64 031 031 577
resolution us ug     1624 147 1624 1624 147 147 550
diamonds  
millions 
of tonnes
carats
 per tonne
millions 
of tonnes
carats
 per tonne
millions 
of tonnes
carats
 per tonne
millions  
of tonnes 
millions  
of tonnes 
carats
 per tonne
carats
 per tonne 
argyle australia    
– ak1 pipe ug 11 35 23 37 6 36 40 40 36 36 1000
bunder india op 37 07 37 37 07 07 1000
diavik canada op  ug 36 28 04 26 36 30 75 75 29 30 600
murowa zimbabwe dd op     95 01 95 14 01 04 778
gold  
millions 
of tonnes
grammes
 per tonne
millions 
of tonnes
grammes
 per tonne
millions 
of tonnes
grammes
 per tonne
millions  
of tonnes 
millions  
of tonnes 
grammes
 per tonne
grammes
 per tonne 
bingham canyon us s op 86 010 86  647 010 018 1000
eagle us t ug 06 009 01 011 07  09 009 019 1000
grasberg indonesia w op  ug 502 063 1778 056 91 040 2371 2863 057 051 w
northparkes australia x op  ug 14 030 4 013 271 026 288 17 026 026 800
oyu tolgoi mongolia      
– heruga etg y ug 910 049 910 760 049 055 249
– heruga ivn z ug 60 037 60 –  037 – 266
– hugo dummett north aa ug 293 038 723 030 1016 1426 032 034 266
– hugo dummett north extension bb op  ug 90 058 96 031 186 213 044 048 249
– hugo dummett south cc ug 490 009 490 490 009 009 266
– south oyu cc op 164 027 267 023 431 456 025 025 266
wabu indonesia op     43 256 43 43 256 256 w
 
see notes on page 92  90 rio tinto 2010 annual report
mineral resources continued 
 
 
 
 
measured resources 
at end 2010
indicated resources 
at end 2010
inferred resources 
at end 2010
total resources 2010 
compared with 2009
 tonnage gradetonnagegradetonnagegrade tonnage  grade
rio tinto 
interest

 
likely 
mining 
method  
a  2010 2009 2010 2009
iron ore  
millions  
of tonnes  fe
millions 
of tonnes  fe
millions 
of tonnes  fe
millions 
of tonnes
millions  
of tonnes  fe  fe
hamersley wholly owned australia     
– brockman 2 ee op 11 624 27 627 2 619 40 28 626 621 1000
– brockman 4 ff op 31 622 18 619 5 626 54 35 621 621 1000
– marandoo marra mamba gg op 123 625 12 612 19 606 154 375 622 626 1000
– mt tom price high grade op 35 633 67 638 9 644 111 112 637 636 1000
– mt tom price low grade op 26 569 25 556 3 550 54 55 562 562 1000
– mt tom price marra mamba hh op 14 619 3 618 17 19 619 619 1000
– nammuldi detrital op 2 600 75 606 77 82 606 607 1000
– nammuldi marra mamba op 128 627 141 628 5 594 274 280 627 626 1000
– paraburdoo brockman op 28 629 36 636 37 634 101 102 633 633 1000
– paraburdoo marra mamba ii op  2 608 2 1 608 594 1000
– turee syncline jj op 9 618 2 616 7 622 18 10 619 616 1000
– western turner syncline op 40 624 15 620 5 618 60 60 623 622 1000
– yandicooginajunction op 363 581 213 581 51 576 627 652 581 580 1000
hamersley undeveloped resources kk    
– high grade brockman ore  op 42 626 1082 626 2528 625 3652 3441 625 625 kk
– brockman process ore op 325 576 339 579 711 568 1375 1289 573 572 kk
– marra mamba ll op  725 622 2366 619 3091 2336 619 620 kk
– channel iron deposits mm op 65 576 286 578 2240 570 2591 2010 571 572 1000
– detrital deposits nn op  172 611 463 610 635 216 610 614 869
hamersley – channar australia     
– brockman op 27 618 7 617 1 612 35 35 618 618 600
hamersley – eastern range australia    
– brockman op 17 617 4 620 11 625 32 31 620 619 540
hope downs australia      
– hope downs 1 marra mamba op 5 616 75 619 14 597 94 97 616 616 500
– hope downs 1 detritals op  4 601 4 588 8 8 595 595 500
– hope downs 4 brockman op 14 615 30 620 134 624 178 163 623 625 500
hope downs undeveloped resources    
– brockman oo op  116 619 116 154 619 615 500
– brockman process ore pp op 54 569 28 576 125 567 207 180 569 574 500
– marra mamba and detritals op  210 616 210 225 616 610 500
iron ore company of canada canada qq op 202 393 754 382 1417 378 2373 2540 381 379 587
palabora south africa op  234 559 234 236 559 559 577
robe river australia     
– marra mamba op 80 620 131 620 3 609 214 210 620 619 530
– pisolite rr op 136 564 87 544 97 554 320 107 556 570 530
– detritals ss op  6 602 6 – 602 – 530
robe river undeveloped resources    
– marra mamba tt op  197 614 244 604 441 382 609 609 530
– pisolite op 54 600 1212 590 443 550 1709 1633 580 579 530
– detritals op  33 610 33 33 610 610 530
simandou guinea uu op 330 672 1335 657 728 661 2393 2254 660 660 950
 
see notes on page 92  wwwriotintocom 91
overview performance
production reserves 
and operations governance financial statements additional information
  
  
 
 
measured resources 
at end 2010
indicated resources 
at end 2010
inferred resources 
at end 2010
total resources 2010 
compared with 2009
 tonnagegradetonnagegradetonnagegrade tonnage grade
rio tinto 
interest 

 
likely 
mining 
method  
a 2010 2009 2010 2009
lithium  
millions 
of tonnes  li
2
o
millions 
of tonnes  li
2
o
millions 
of tonnes  li
2
o
millions  
of tonnes 
millions  
of tonnes  li
2
o  li
2
o
jadar serbia d ug 1253 18 1253 1253 18 18 1000
molybdenum  
millions 
of tonnes  mo
millions 
of tonnes  mo
millions 
of tonnes  mo
millions  
of tonnes 
millions  
of tonnes  mo  mo
bingham canyon us s vv op     86 0007 86  647 0007 0034 1000
oyu tolgoi mongolia          
– heruga etg y ug     9100014 910 760 0014 0015 249
– heruga ivn z ug     60 0013 60 –  0013 – 266
resolution us ug     1624 0037 1624 1624 0037 0037 550
nickel  
millions 
of tonnes  ni
millions 
of tonnes  ni
millions 
of tonnes  ni
millions  
of tonnes 
millions  
of tonnes  ni  ni
eagle us t ug 06 088 01 081 07  09 087 277 1000
sulawesi indonesia ww op   162 162 162 162 162 162 800
silver  
millions 
of tonnes
grammes 
per tonne
millions 
of tonnes
grammes 
per tonne
millions 
of tonnes
grammes 
per tonne
millions  
of tonnes 
millions  
of tonnes 
grammes 
per tonne
grammes 
per tonne
bingham canyon us s op 86 109 86  647 109 208 1000
grasberg indonesia w op  ug 502 345 1778 345 91 279 2371 2863 342 326 w
wabu indonesia op     43 249 43 43 249 249 w
talc  
millions 
of tonnes
millions 
of tonnes
millions 
of tonnes
millions  
of tonnes 
millions  
of tonnes 
rio tinto minerals – talc xx 
australiaeuropen america 
op  ug 
17 19 19 55 70 1000
titanium dioxide feedstock 
millions 
of tonnes
millions 
of tonnes
millions 
of tonnes
millions  
of tonnes 
millions  
of tonnes   
rtft canada  op 41 41 41 1000
qmm madagascar do 02 338 40 380 381 800
rbm south africa yy do   12 16 28 30 370
uranium  
millions 
of tonnes u
3
0
8
millions 
of tonnes u
3
0
8
millions 
of tonnes u
3
0
8
millions  
of tonnes 
millions  
of tonnes u
3
0
8
u
3
0
8
energy resources of australia australia   
– jabiluka ug 12 0887 139 0520 100 0545 251 251 0547 0547 684
– ranger 3 op 298 0079 956 0083 60 0119 1313 1272 0084 0085 684
rössing namibia zz op 157 0025 1798 0026 503 0021 2458 1040 0025 0023 686
zinc  
millions 
of tonnes zn
millions 
of tonnes zn
millions 
of tonnes zn
millions  
of tonnes 
millions  
of tonnes zn zn
la granja peru aaa op 3000 009 3000  2770 009 010 1000
 
see notes on page 92 
  92 rio tinto 2010 annual report
mineral resources continued 
 
 
notes 
a likely mining method op  open pit oc  open cut ug  underground do  dredging operation 
b the increased resource tonnage at porto trombetas is due to model update and the 
reclassification of reserve material ahead of permitting 
c boron resources are reported as in situ b
2
o
3
 rather than marketable product as in reserves 
d jadar resources are reported as the in situ mineral content to align with the boron us 
estimates the jadar lithium resource is expressed as in situ tonnes of mineralised material 
e coal type sc  steamthermal coal mc  metallurgicalcoking coal 
f rio tinto reports coal resources on an in situ moisture basis 
g on 19 november 2010 rio tinto entered into an agreement to sell its 561 per cent interest in 
the chapudi coal project the agreement is proceeding through final review and approval 
processes in south africa the increased resource is a result of additional drilling 
h resource tonnage at bengalla was reduced due to redefined resource limits 
i the decrease in resource tonnes at blair athol follows resource mining and economic model updates 
j resource tonnage at hail creek increased following reclassification of reserves and economic 
model update 
k reevaluation of the resource limits and underground prospects reduced resource tonnage  
at hunter valley operations 
l resource tonnes decreased at kestrel coal due to conversion of resources to reserves and 
subsequent reevaluation of the mine plan 
m rio tinto sold its 757 per cent interest in the maules creek property with transfer being 
effective on 18 february 2010 
n resource tonnage at mount pleasant was reduced due to refined resource limits 
o the decrease in resource tonnes at mount thorley operations follows a review of underground 
mining potential 
p rio tinto sold its 757 per cent interest in the vickery property with transfer being effective  
on 4 february 2010 
q the decrease in resource tonnes at warkworth followed a review of underground mining potential 
r rio tinto completed the divestment of its 483 per cent interest in the antelope and cordero 
rojo mines with an effective date of 15 december 2010 
s bingham canyon resources are lower following conversion to reserves 
t resource tonnes at eagle have decreased following a model update 
u escondida sulphide resource grades are reduced after completion of a new economic study  
and model update 
v the escondida sulphide leach and oxide resources decreased after a review of the economic 
assumptions used to define the resources pit limit 
w under the terms of a joint venture agreement between rio tinto and fcx rio tinto is entitled 
to a direct 40 per cent share in resources discovered after 31 december 1994 resource model 
updates and pit redesigns have resulted in lower tonnes and higher grades at grasberg 
x technical and economic studies led to increased tonnes at lower grades at northparkes 
y resources increased following additional drilling and extending the strike length of heruga 
etg up to the oyu tolgoi licence boundary rio tinto‘s interest has increased from 195 to  
249 per cent during 2010 
z heruga ivn resources are reported for the first time following technical and economic studies 
 
aa transfer of resources to reserves has reduced the resource tonnes and grade at hugo dummett 
north rio tinto‘s interest increased from 199 to 266 per cent during 2010 
bb transfer of resources to reserves has reduced the resource tonnes and grade at hugo dummett 
north extension rio tinto‘s interest has increased from 195 to 249 per cent during 2010 
cc rio tinto‘s interest in hugo dummett south and south oyu increased from 199 to 266 per 
cent during 2010 
dd a geological reinterpretation and subsequent model update has led to a revision of the 
murowa resource 
ee the hamersley brockman 2 resource tonnes were increased following a model update 
ff changes in the pit design resulted in increased hamersley brockman 4 resources 
gg the decrease in hamersley marandoo marra mamba resource tonnes is due to a model update 
and conversion of resources to reserves 
hh redesign of the pit reduced the resource tonnes at mt tom price marra mamba 
ii transfer of reserves back to resources has increased the hamersley paraburdoo marra mamba 
resource tonnes and grade 
jj a model update has resulted in improved resource tonnes at hamersley turee syncline 
kk resources in this category consist of 43 separate deposits 26 of which are wholly owned by 
hamersley iron tenure of shovelanna 50 per cent hamersley iron has now been granted 
ll a model update led to an increase in the undeveloped hamersley marra mamba resource tonnes 
mm geological model updates led to increased hamersley channel iron undeveloped resource tonnes 
nn  technical and economic studies have resulted in reporting of new hamersley detrital 
undeveloped resources  
oo model updates yielded lower hope downs brockman resource figures 
pp technical and economic studies resulted in improved hope downs brockman process ore 
resource tonnes 
qq ioc resources are quoted on an in situ dry tonnes and grades basis this resource would 
produce marketable product 57 per cent pellets and 43 per cent concentrate for sale at two per 
cent moisture content of 89 million tonnes at 65 per cent iron measured 329 million tonnes 
at 65 per cent iron indicated and 578 million tonnes at 65 per cent iron inferred at cut off 
grades of 21 to 25 per cent concentrator weight yield 
rr review of the geological model resulted in higher robe river pisolite resource tonnes 
ss robe river high grade detritals are reported for the first time following technical and economic studies 
tt model updates have improved the undeveloped robe river marra mamba resources 
uu rio tinto’s interest in simandou is quoted as 95 per cent the other five per cent being held by 
the ifc chalco has the right to earn 47 per cent of this 95 per cent the government of guinea 
has an option to subscribe up to 20 per cent of the entire project reducing ownership of all 
existing partners to 80 per cent rio tinto’s current tenure comprises exploration permits 
extended for three months from 24 february 2011 by virtue of a mining concession application 
rio tinto has lodged it will be necessary to procure grant of that application or some alternative 
grant from the government of guinea to maintain title rio tinto is in discussions with the 
government of guinea seeking to procure this 
vv molybdenum grades interpolated from exploration drilling assays have been factored based  
on a long reconciliation history to blasthole and mill samples 
ww rio tinto‘s interest in sulawesi reduced from 100 per cent to 80 per cent following an 
agreement with a third party signed in november 2010 
xx review of geological models and conversion of resources to reserves has reduced rio tinto 
minerals talc resource tonnes in february 2011 rio tinto announced that it had received  
a binding offer for the purchase of 100 per cent of its talc business 
yy resources at rbm decreased after a model update a review of product recovery factors and 
mining depletions 
zz a model update and subsequent pitshell redesigns resulted in an increased resource at rössing 
aaa remodelling at la granja has reduced the zinc resource grade 
  wwwriotintocom 93
overview performance
production reserves 
and operations governance financial statements additional information
competent persons 
 
  
 
as defined by jorc – see page 84 
a ausimm australasian institute of mining and metallurgy aig australian institute of 
geoscientists eurogeol european geologist member of the european federation of geologists 
immm institute of materials minerals and mining saimm south african institute of mining 
and metallurgy sme society of mining metallurgy and exploration aipg american institute 
of professional geologists napegg association of professional engineers geologists and 
geophysicists of the northwest territories peg professional engineers and geoscientists 
newfoundland and labrador bgs british geological society peg professional engineers  
and geoscientists newfoundland and labrador cimm canadian institute of mining and 
metallurgy apegga association of professional engineers geologists and geophysicists of 
alberta oiq ordre des ingénieurs du quebec sacnasp south african council for natural 
scientific professions  
b includes gold  
c includes molybdenum 
d includes silver 
e includes zinc 
f includes iron ore  
g includes borates 
h includes copper 
 
primary commodity name association a  employer accountability deposits 
 l mcandrew ausimm rio tinto reserves rio tinto alcan – gove weipa 
 j bower ausimm rio tinto resources rio tinto alcan – gove weipa sangaredi 
bauxite j p c de melo franco ausimm mrn consultant resources reserves rio tinto alcan – porto trombetas mrn 
 l fouché ausimm rio tinto reserves rio tinto alcan – sangaredi 
borates l karlsson ausimm rio tinto reserves resources rio tinto minerals – boron operations 
 p ellis ausimm rio tinto resources rio tinto coal australia – blair athol clermont hail creek kestrel kestrel west  
winchester south 
 j buddee ausimm  rio tinto reserves rio tinto coal australia – bengalla hunter valley operations mount thorley warkworth 
mount pleasant 
 g carr ausimm rio tinto reserves rio tinto coal australia – blair athol kestrel clermont hail creek 
coal j bamberry aig rio tinto resources rio tinto coal australia – hunter valley operations mount thorley mount pleasant 
warkworth  bengalla 
 a waltho ausimm rio tinto resources rio tinto coal australia – valeria lake elphinstone oaklands 
 m guptill ausimm rio tinto reserves resources colowyo 
 s kristensen ausimm rio tinto resources rio tinto energy – chapudi 
 k mudge ausimm reserves 
 j vickery ausimm  
rio tinto 
reserves resources 
kennecott utah copper – bingham canyon b c d 
 m howson immm rio tinto resources la granja e 
 a lye aig rio tinto reserves resources northparkes b 
 s ngidi saimm reserves 
copper hd paetzold sacnasp 
rio tinto 
resources 
palabora f 
 c hehnke ausimm rio tinto resources resolution c 
 s torr ausimm ivanhoe mines reserves resources oyu tolgoi b c 
 a zuzunaga ausimm reserves 
 o cortés  ausimm 
bhp billiton 
resources 
minera escondida  
 a issel sme resources 
 g macdonald aipg 
pt freeport 
reserves 
pt freeport – grasberg wabu b d 
 r platell ausimm 
 s brennan ausimm 
rio tinto reserves resources argyle 
 r platell ausimm rio tinto resources bunder 
diamonds c yip ausimm reserves 
 k thompson napegg  
rio tinto 
resources 
diavik 
 a davy immm resources 
 a kumar ausimm  
rio tinto 
reserves 
murowa 
 j phillips ausimm resources rio tinto iron ore – hamersley hope downs robe river rio tinto iron ore atlantic  
– simandou 
 p savory ausimm resources 
 m slavik ausimm 
rio tinto 
reserves 
rio tinto iron ore – hamersley hope downs robe river 
iron ore m blake peg resources 
 r williams ausimm reserves 
 t leriche peg 
rio tinto 
reserves resources 
iron ore company of canada – carol lake 
lithium j garcia eurogeol rio tinto resources rio tinto minerals – jadar g 
 d rennie apegbc reserves resources 
nickel n lecuyer oiq 
roscoe postle assoc 
reserves 
eagle b h 
 d guibal ausimm  srk consulting resources la sampala 
 m wurm aig rio tinto reserves resources australian mines 
talc jf robert ausimm rio tinto reserves resources european mines 
 d marek cimm rio tinto reserves resources north american mines 
j dumouchel apegga  resources  
y bourque oiq 
rio tinto 
reserves resources 
rio tinto fer et titane 
j dumouchel apegga  rio tinto reserves resources qit madagascar minerals 
titanium dioxide 
feedstock 
c ware sacnasp rio tinto reserves resources richards bay minerals 
 a van der heyden ausimm hellman  schofield 
 g rogers ausimm rio tinto 
resources energy resources of australia – ranger 3 jabiluka ii 
uranium r miller ausimm rio tinto reserves energy resources of australia – ranger 3 
 j forkes immm resources 
 wd wieland saimm 
rio tinto 
reserves 
rössing sjsk 
       94 rio tinto 2010 annual report
mines and production facilities 
 
 
group mines as at 31 december 2010 
rio tinto’s interest 100 per cent unless otherwise shown 
mine location access titlelease 
bauxite 
   
cbg sangaredi 23 kamsar guinea 
 
road air and port lease expires in 2038 
gove gove northern territory 
australia 
 
 
road air and port 100 leasehold expiring in 2011 with most leases having a right 
of renewal for a further 42 years freehold interest in underlying  
land held in escrow by the northern land council on behalf of the  
arnhem land aboriginal land trust until expiry of the leases  
including period of renewal additional lease is to be granted by the  
arnhem land aboriginal land trust for the purpose of residue disposal 
mrn porto trombetas 12 porto trombetas  
para brazil 
 
 
air or port mineral rights granted for undetermined period 
weipaely weipa queensland 
australia 
road air and port the weipa queensland government lease expires in 2041 with an  
option of 21 year extension then two years’ notice of termination  
the ely alcan queensland pty limited agreement act 1965 expires  
in 2048 with 21 year right of renewal with a two year notice period 
 
 
 
copper 
   
escondida 30 atacama desert chile pipeline and road to deep  
sea port at coloso road  
and rail 
rights conferred by government under chilean mining code 
grasberg joint venture 
40 of production 
papua indonesia pipeline road and port indonesian government contracts of work expire in 2021 with  
option of two ten year extensions 
 
 
kennecott utah copper 
bingham canyon 
near salt lake city  
utah us 
 
 
pipeline road and rail owned 
northparkes 80 goonumbla new south 
wales australia 
road and rail state government mining lease issued in 1991 for 21 years  
development consent approved in 2009 for extension of mine  
life to 2025 
palabora 577 phalaborwa limpopo 
province south africa 
rail and road lease from south african government until deposits depleted  
base metal claims owned by palabora 
diamonds  minerals 
diamonds 
   
argyle diamonds kimberley ranges western 
australia 
road and air mining tenement held under diamond argyle diamond mines  
joint venture agreement act 1981–1983 lease extended for 
21 years from 2004 
diavik 60 northwest territories 
canada 
 
air ice road in winter mining leases from canadian federal government  
expiring in 2017 and 2018 
murowa 778 zvishavane zimbabwe road and air 
 
claims and mining leases 
industrial minerals 
   
rio tinto minerals – boron california us road rail and port owned 
rio tinto minerals – talc trimouns france other 
smaller operations in 
australia europe and  
north america 
road and rail owner of ground orebody and long term lease agreement to 2012 
rio tinto fer et titane  
lac tio 
havresaintpierre  
quebec canada 
rail and port 
st lawrence river 
mining covered by two concessions granted by state in 1949 and 1951  
which subject to certain mining act restrictions confer rights and  
obligations of an owner 
qit madagascar minerals 
80 
fortdauphin madagascar road and port mining lease 
richards bay minerals 37 richards bay kwazulu
natal south africa 
rail road and port long term renewable mineral leases state lease for reserve 4 initially  
runs to end 2022 ingonyama trust lease for reserve 10 runs to 2022  
application made for both mineral leases to be converted to new order  
mining rights following transfer in december 2009 of 26 interest  
to investor groups of previously disadvantaged south africans in 
terms of mining charter legislation 
  wwwriotintocom 95
overview performance
production reserves 
and operations governance financial statements additional information
  
  
 
 
history type of mine power source 
 
  
bauxite mining commenced in 1973 shareholders are 51 halco and 49 government of guinea  
rio tinto alcan has held 45 of halco since 2004 current annual capacity is 13 million tonnes 
open cut on site generation fuel oil 
bauxite mining commenced in 1970 feeding both the gove refinery and export market capped at two million 
tonnes per annum bauxite export ceased in 2006 with feed intended for the expanded gove refinery bauxite 
exports recommenced in 2008 current production capacity about ten million tonnes per annum with mine life 
estimated to 2030 
 
 
open cut central power station located 
at the gove refinery 
mineral extraction commenced in april 1979 initial production capacity 34 million tonnes annually from 
october 2003 production capacity up to 163 million tonnes per year on a dry basis capital structure currently 
vale 40 bhp billiton 148 rio tinto alcan 12 cba 10 alcoaabalco 182 and norsk hydro 5 
 
open cut on site generation heavy oil 
diesel 
bauxite mining commenced in 1961 at weipa major upgrade completed at weipa in 1998 rio tinto interest 
increased from 724 to 100 in 2000 at weipa in 1997 ely bauxite mining project agreement signed with  
local aboriginal land owners bauxite mining and exchange agreement signed in 1998 with comalco to allow  
for extraction of ore at ely in 2004 a mine expansion was completed at weipa that has lifted annual capacity  
to 215 million tonnes mining commenced on the adjacent ely mining lease in 2006 in accordance with the  
1998 agreement with alcan a second shiploader that increases the shipping capability was commissioned in  
2006 at weipa first ore extracted at ely in 2007 
open cut on site generation new 
power station commissioned 
in 2006 
   
production started in 1990 and expanded in phases to 2002 when new concentrator was completed production 
from norte started in 2005 and the sulphide leach produced the first cathode during 2006 
open pit supplied from sing grid 
under various contracts with 
local generating companies 
joint venture interest acquired 1995 capacity expanded to over 200000 tonnes of ore per day in 1998 addition 
of underground production of more than 35000 tonnes per day in 2003 expansion to 50000 tonnes per day in 
mid 2007 and to 80000 tonnes in 2010 
open pit and underground long term contract with  
usindonesian consortium 
operated purpose built coal 
fired generating station 
interest acquired in 1989 modernisation includes smelter complex and expanded tailings dam open pit on site generation 
supplemented by long  
term contracts with rocky 
mountain power 
production started in 1995 interest acquired in 2000  
 
 
open pit and underground supplied from state grid 
development of 20 year underground mine commenced in 1996 with open pit closure in 2003 underground supplied by eskom via  
grid network 
 
 
  
interest increased from 597 following purchase of ashton mining in 2000 underground mine  
project approved in 2005 to extend mine life to 2018 
open pit to underground 
in future 
long term contract with ord 
hydro consortium and on 
site generation 
deposits discovered 19941995 construction approved 2000 diamond production started 2003  
second dike closed off in 2005 for mining of additional orebody the underground mine is  
expected to start production in 2010 ramping up to full production in 2013 
open pit to underground  
in future 
on site diesel generators 
installed capacity 27mw  
with an upgrade under way 
discovered in 1997 small scale production started in 2004 open pit supplied by zesa with diesel 
generator back up 
   
deposit discovered in 1925 and acquired by rio tinto in 1967 open pit on site cogeneration units 
production started in 1885 acquired in 1988 australian mine three springs acquired in 2001 open pit supplied by atel and on site 
generation units australian 
three springs mine power 
supplied by western power 
production started 1950 interest acquired in 1989 open pit long term contract with 
hydroquebec 
 
began as exploration project 1980s construction approved 2005 ilmenite production started end of 2008 
 
mineral sand dredging on site diesel generators 
production started 1977 interest acquired 1989 fifth mining plant commissioned in 2000  
one mining plant decommissioned in 2008 
 
 
 
 
beach sand dredging contract with eskom 
  96 rio tinto 2010 annual report
mines and production facilities continued 
 
group mines as at 31 december 2010 continued  
rio tinto’s interest 100 per cent unless otherwise shown 
mine location access  titlelease 
energy 
  
 
 
energy resources of 
australia 684 
ranger 
northern territory 
australia 
road 
 
mining tenure granted by federal government 
rio tinto coal australia  
bengalla 303  
blair athol 712 
hail creek 82 
hunter valley operations 
757 
kestrel 80 
mount thorley operations 
606 
warkworth 421 
new south wales 
and queensland 
australia 
road rail conveyor 
and port 
 
leases granted by state 
colowyo 100 colorado us rail and road 
 
leases from us and state governments and private parties with minimum coal production levels  
and adherence to permit requirements and statutes 
 
rössing uranium 686 namib desert 
namibia 
rail road and port 
 
national government grant 
iron ore 
  
 
 
hamersley iron 
brockman 
brockman 4 
marandoo 
mount tom price 
nammuldi 
paraburdoo 
western turner syncline 
yandicoogina  
channar 60  
eastern range 54 
hamersley ranges 
western australia 
railway and port 
owned by 
hamersley iron  
and operated by 
pilbara iron 
 
agreements for life of mine with government of western australia 
hope downs joint venture 
50 mine 100 
infrastructure 
 
pilbara region  
western australia 
railway owned  
and operated  
by rio tinto 
 
agreements for life of mine with government of western australia 
iron ore company of 
canada 587 
labrador city 
province of 
labrador and 
newfoundland 
railway and port 
facilities in sept
iles quebec owned 
and operated  
by ioc  
sublease with the labrador iron ore royalty income fund which has lease agreements with the  
government of newfoundland and labrador that are due to be renewed in 2020 and 2022 
robe river iron associates 
53 
mesa j 
mesa a 
west angelas 
pilbara region  
western australia 
railway and port 
owned by robe 
river and operated 
by pilbara iron 
 
agreements for life of mine with government of western australia 
dampier salt 684 dampier lake 
macleod and port 
hedland western 
australia 
 
 
road and port 
 
state agreements mining leases expiring in 2013 at dampier 2018 at port hedland and 2021  
at lake macleod with options to renew in each case  wwwriotintocom 97
overview performance
production reserves 
and operations governance financial statements additional information
  
  
  
 
history type of mine power source 
 
  
mining commenced 1981 interest acquired through north in 2000 life of mine extension to 2020 announced  
in 2007 
 
open pit on site dieselsteam power 
generation 
production started for export at blair athol in 1984 kestrel was acquired and recommissioned in 1999  
hail creek started in 2003 coal  allied shares were first acquired in 1977 and management control  
gained in 1993 successive acquisitions of surrounding assets results in the current portfolio 
 
 
 
 
 
 
open cut and underground 
kestrel 
state owned grid 
colowyo was acquired in 1995 open cut supplied by ipps and  
cooperatives through 
national grid service 
production began in 1978 
 
open pit namibian national power 
  
  
annual capacity increased to 68 million tonnes during 1990s yandicoogina first ore shipped in 1999 and port 
capacity increased eastern range started 2004 
 
 
 
 
 
 
 
 
open pit supplied through the 
integrated hamersley and 
robe power network operated 
by pilbara iron 
joint venture between rio tinto and hancock prospecting construction of stage 1 to 22 million tonnes  
per annum commenced april 2006 and first production occurred november 2007 stage 2 to 30 million tonnes  
per annum completed 2009 
open pit supplied through the 
integrated hamersley and 
robe power network operated 
by pilbara iron 
interest acquired in 2000 through north current operation began in 1962 and has processed over one billion 
tonnes of crude ore since annual capacity 175 million tonnes of concentrate of which 135 million tonnes  
can be pelletised 
 
 
open pit supplied by newfoundland 
hydro under long term 
contract 
first shipment in 1972 annual sales reached 30 million tonnes in late 1990s interest acquired in 2000 through 
north west angelas first ore shipped in 2002 and mine expanded in 2005 current capacity approximately  
50 million tonnes per year 
 
 
open pit supplied through the 
integrated hamersley and 
robe power network operated 
by pilbara iron 
construction of the dampier field started in 1969 first shipment in 1972 lake macleod was acquired in 1978  
as an operating field port hedland was acquired in 2001 as an operating field 
 
solar evaporation of seawater 
dampier and port hedland 
and underground brine lake 
macleod dredging of 
gypsum from surface  
of lake macleod 
dampier supply from 
hamersley iron pty ltd lake 
macleod from western 
power and on site generation 
units port hedland from 
western power  98 rio tinto 2010 annual report
mines and production facilities continued 
 
group smelters and refineries 
rio tinto’s interest 100 per cent unless otherwise shown 
smelterrefinery location titlelease plant typeproduct 
capacity as of 31 december 2010
based on 100 ownership 
aluminium 
    
alma alma quebec canada 100 freehold aluminium smelter producing aluminium  
rod tfoundry molten metal high purity remelt 
438000 tonnes per year 
aluminium 
alouette  
40 
septîles quebec canada 100 freehold aluminium smelter producing aluminium  
high purity remelt 
590000 tonnes per year 
aluminium 
alucam  
467 
edéa cameroon 100 freehold aluminium smelter producing aluminium  
slab remelt 
100000 tonnes per year 
aluminium 
arvida saguenay quebec canada 100 freehold aluminium smelter producing aluminium  
billet molten metal 
176000 tonnes per year 
aluminium 
bécancour  
251 
bécancour quebec canada 100 freehold aluminium smelter producing aluminium  
slab billet tfoundry remelt 
430000 tonnes per year 
aluminium 
bell bay bell bay northern  
tasmania australia 
100 freehold aluminium smelter producing aluminium slab 
molten metal small form and tfoundry remelt 
180000 tonnes per year 
aluminium 
boyne smelters  
594 
boyne island queensland 
australia 
100 freehold aluminium smelter producing aluminium billet 
ec grade small form and tfoundry remelt 
559000 tonnes per year 
aluminium 
dunkerque dunkerque france 100 freehold aluminium smelter producing aluminium  
slab small form foundry remelt 
262000 tonnes per year 
aluminium 
gardanne gardanne france 100 freehold refinery producing specialty aluminas 635000 tonnes per year 
specialty aluminas 
gove gove northern territory 
australia 
100 leasehold expiring in 2011 
with most leases having a right of 
renewal for a further 42 years 
freehold interest in underlying 
land held in escrow by the 
northern land council on behalf 
of the arnhem land aboriginal 
land trust until expiry of the 
leases including period of 
renewal additional lease is to  
be granted by the arnhem land 
aboriginal land trust for the 
purpose of residue disposal 
refinery producing alumina 2570000 tonnes per year 
alumina 
grandebaie saguenay quebec canada 100 freehold aluminium smelter producing aluminium  
slab molten metal high purity remelt 
218000 tonnes per year 
aluminium 
isal reykjavik iceland 100 freehold aluminium smelter producing aluminium  
slab remelt 
189000 tonnes per year 
aluminium 
jonquière  
vaudreuil 
jonquière quebec canada 100 freehold refinery producing specialty aluminas and 
smelter grade aluminas 
1500000 tonnes per year 
alumina 
kitimat a kitimat british columbia 
canada 
100 freehold aluminium smelter producing aluminium  
billet slab remelt 
184000 tonnes per year 
aluminium 
laterrière saguenay quebec canada 100 freehold aluminium smelter producing aluminium  
slab remelt molten metal 
238000 tonnes per year 
aluminium 
lochaber fort william scotland uk 100 freehold aluminium smelter producing aluminium  
slab remelt 
44000 tonnes per year 
aluminium 
lynemouth lynemouth 
northumberland uk 
100 freehold aluminium smelter producing aluminium  
slab remelt 
181000 tonnes per year 
aluminium 
queensland alumina 
80 
gladstone queensland 
australia 
733 freehold 267 leasehold 
of which more than 80 expires 
in 2026 and after 
refinery producing alumina 3959000 tonnes per year 
alumina 
saintjeandemaurienne saintjeandemaurienne 
france 
100 freehold aluminium smelter producing aluminium  
rod remelt 
139000 tonnes per year 
aluminium 
são luis alumar  
10 
são luis maranhão brazil 100 freehold refinery producing alumina 3390000 tonnes per year 
alumina 
sebree robards kentucky us 100 freehold aluminium smelter producing aluminium  
billet small form foundry tfoundry remelt 
198000 tonnes per year 
aluminium 
shawinigan shawinigan quebec canada 100 freehold aluminium smelter producing aluminium  
billet remelt 
100000 tonnes per year 
aluminium 
sohar  
20 
sohar oman 100 leasehold expiring 2039 aluminium smelter producing aluminium  
high purity remelt 
370000 tonnes per year 
aluminium 
søral  
50 
husnes norway 100 freehold aluminium smelter producing aluminium  
billet remelt 
173000 tonnes per year 
aluminium 
  wwwriotintocom 99
overview performance
production reserves 
and operations governance financial statements additional information
  
  
group smelters and refineries continued 
rio tinto’s interest 100 per cent unless otherwise shown 
smelterrefinery location titlelease plant typeproduct 
capacity as of 31 december 2010
based on 100 ownership 
aluminium 
    
tiwai point 
new zealand  
aluminium smelters  
794 
invercargill southland  
new zealand 
196 freehold 804 leasehold 
expiring in 2029 and use of 
certain crown land 
aluminium smelter producing aluminium  
billet slab small form foundry high  
purity remelt 
365000 tonnes per year 
aluminium 
tomago 
516 
tomago new south wales 
australia 
100 freehold aluminium smelter producing aluminium  
billet slab remelt 
533000 tonnes per year 
aluminium 
yarwun gladstone queensland 
australia 
97 freehold 3 leasehold 
expiring 2101 and after 
refinery producing alumina 1400000 tonnes per year 
alumina 
copper 
    
kennecott utah copper magna salt lake city  
utah us 
100 freehold flash smelting furnaceflash  
convertor furnace copper refinery 
335000 tonnes per year 
refined copper 
palabora  
577 
phalaborwa south africa 100 freehold reverberatory pierce smith copper refinery 90000 tonnes per year 
refined copper 
diamonds  minerals 
   
boron california us 100 freehold borates refinery 565000 tonnes per year  
boric oxide 
rio tinto fer et titane  
sorel plant 
soreltracy quebec canada 100 freehold ilmenite smelter 1100000 tonnes per year 
titanium dioxide slag 
900000 tonnes per year iron
richards bay minerals 
37 
richards bay south africa 100 freehold ilmenite smelter 1060000 tonnes per year 
titanium dioxide slag 
550000 tonnes per year iron
iron ore 
    
hismelt
®
 
60 b 
kwinana western australia 100 leasehold expiring in 2010 
with rights of renewal for further 
25 year terms 
hismelt
®
 ironmaking plant producing pig iron 800000 tonnes per year  
pig iron 
ioc pellet plant  
59 
labrador city newfoundland 
and labrador canada 
100 leaseholds expiring in  
2020 2022 and 2025 with  
rights of renewal for further  
terms of 30 years 
pellet induration furnaces producing multiple 
iron ore pellet types 
13500000 tonnes per year 
pellet 
notes 
a capacity as at 31 december 2010 reflects the closures of two potlines in preparation for the kitimat modernisation project the nameplate capacity of the kitimat smelter remains at 282000 tonnes per year 
b in march 2009 rio tinto announced that hismelt
®
 would be placed on an extended care and maintenance programme in december 2010 the hismelt
®
 joint venture partners agreed to close the 
kwinana site permanently and terminate the joint venture a closure study is expected to be completed by 2012  100 rio tinto 2010 annual report
mines and production facilities continued 
 
information on group power plants  
rio tinto’s interest 100 per cent unless otherwise shown 
 location titlelease plant typeproduct 
capacity as of 31 december 2010
based on 100 ownership 
aluminium 
    
gladstone power station 
42 
gladstone queensland 
australia 
100 freehold thermal power station 1680 megawatts 
highlands power stations lochaber kinlochleven uk 100 freehold hydroelectric power 80 megawatts 
lynemouth power station lynemouth uk 100 freehold thermal power station 420 megawatts 
kemano power station kemano british columbia 
canada 
100 freehold hydroelectric power 896 megawatts 
quebec power stations saguenay quebec canada 
chuteàcaron chuteàla
savane chutesdespasses 
chutedudiable isle
maligne shipshaw 
100 freehold except péribonka 
lease to 2058 
hydroelectric power 2919 megawatts 
vigelands power station nr kristiansand norway 100 freehold hydroelectric power 26 megawatts 
yarwun alumina refinery 
cogeneration plant 
gladstone queensland 
australia 
100 freehold gas turbine and heat recovery steam generator 
providing process steam and power for the 
alumina refining operations excess power  
sold to grid 
160 megawatts 
copper 
    
phalaborwa power station 
577 
phalaborwa limpopo 
province south africa 
100 freehold steam turbine running off waste heat boilers  
at the copper smelter 
927 megawatts 
puncakjaya power 
2212 
grasberg papua indonesia lease diesel power plant  
thermal power plant 
193 megawatts 
kennecott utah copper 
power stations 
salt lake city utah us 100 freehold thermal power station 175 megawatts 
   steam turbine running off waste heat boilers  
at the copper smelter 
318 megawatts 
   combined heat and power plant supplying  
steam to the copper refinery 
62 megawatts 
kennecott utah copper salt lake city utah us 100 freehold in 2011 or 2012 combined heat and power plant supplying  
steam to the molybdenum autoclave plant 
62 megawatts  
in 2011 or 2012 
  wwwriotintocom 101
overview performance
production reserves 
and operations governance financial statements additional information
  
  
 
 location titlelease plant typeproduct 
capacity as of 31 december 2010
based on 100 ownership 
diamonds  minerals 
   
boron cogeneration plant boron california us 100 freehold rio tinto minerals 
operates a second plant owned by 
a third party 
cogeneration uses natural gas to generate steam 
used to run boron’s refining operations 
100mw 85mw of which are 
sold to a local utility 
energy 
    
energy resources of 
australia rio tinto 68 
ranger mine jabiru  
northern territory australia 
100 freehold five diesel generator sets rated at 51mw  
1 diesel generator rated at 19mw 
274mw 
iron ore 
    
cape lambert power 
station  
rio tinto 53 
cape lambert western 
australia australia 
lease gas fired boilers with steam turbines 105mw 
paraburdoo power station paraburdoo western 
australia australia 
lease lm6000 pc gas fired turbines 153mw 
yurralyi maya power 
station  
rio tinto 58 
dampier western australia 
australia 
lease lm6000 pd gas fired turbines 180mw 
  102 rio tinto 2010 annual report
board of directors
the board comprises the chairman three executive directors and  
ten independent non executive directors
1 jan du plessis
5 sir rod eddington
9 ann godbehere
13 hon paul tellier
2 tom albanese
6 guy elliott
10 richard goodmanson 
14 sam walsh
3 robert brown 
7 michael fitzpatrick
11 andrew gould
4 vivienne cox
8 yves fortier
12 lord kerr of kinlochard wwwriotintocom 103
overview performance
production reserves 
and operations governance financial statements additional information
1 jan du plessis c and e chairman bcom llb ca sa age 57
appointment and election
 director of rio tinto plc and rio tinto 
limited effective september 2008 jan was elected by shareholders 
at the 2009 annual general meetings he was appointed chairman 
at the conclusion of the 2009 annual general meetings
skills and experience
 jan worked in various management positions 
in the south african rembrandt group from 1981 and in 1988 
became group finance director of compagnie financière 
richemont the swiss luxury goods group becoming chairman  
of british american tobacco in 2004
external appointments current and recent
 non executive director of 
marks and spencer group plc since 2008 non executive director 
of british american tobacco plc from 1999 and chairman of the 
board from 2004 until 2009 non executive director and chairman 
of the audit committee of lloyds banking group plc from 2005 
and 2008 respectively until 2009 chairman of rhm plc from  
2005 until 2007
2  tom albanese e chief executive bs mineral economics  
ms mining engineering age 53
appointment and election
 director of rio tinto plc and rio tinto 
limited since 2006 tom was last reelected in 2008
skills and experience
 tom joined rio tinto in 1993 on rio tinto’s 
acquisition of nerco and held a series of management positions 
before being appointed chief executive of the industrial minerals 
group in 2000 after which he became chief executive of the 
copper group and head of exploration in 2004 he took over as 
chief executive with effect from 2007
external appointments current and recent
 director of ivanhoe mines 
limited from 2006 to 2007 director of palabora mining company 
from 2004 to 2006 member of the executive committee of the 
international copper association from 2004 to 2006 member of 
the board of visitors duke university fuqua school of business 
from 2009
3 robert brown c d and f non executive director bsc age 66
appointment and election
 appointed a director of rio tinto plc and 
rio tinto limited in april 2010 bob was elected by shareholders 
at the 2010 annual general meetings
skills and experience
 bob is chairman of groupe aeroplan inc and 
serves on the board of bell canada enterprises bce inc the holding 
company for bell canada he was previously president and chief 
executive officer of cae inc a world leader in flight simulation and 
training before that he spent 16 years at bombardier inc where he 
was first head of the aerospace group and then president and chief 
executive officer he has also served as chairman of air canada and 
of the aerospace industries association of canada
bob was inducted to the order of canada as well as l’ordre 
national du québec he has been awarded honorary doctorates 
from five canadian universities
external appointments current and recent
 non executive director of 
groupe aeroplan inc since 2005 and chairman since 2008 non 
executive director of bell canada enterprises bce inc since 2009 
president and chief executive officer of cae inc from 2004 until 
2009 non executive director of nortel corporation from 2000 to 
2006 ace aviation holdings inc from 2004 to 2009 and fier cpvc 
montreal lp trustee of jazz air income fund from 20062008
4  vivienne cox a c d and f non executive director  
ma oxon mba insead honorary phd hull age 51
appointment and election
 director of rio tinto plc and rio tinto 
limited since 2005 vivienne was last reelected in 2008
skills and experience
 vivienne was executive vice president and 
chief executive officer alternative energy for bp plc until 
2009 she became a member of the bp group chief executive’s 
committee when she became chief executive of the gas power 
and renewables business during her career at bp she worked 
in chemicals exploration finance and refining and marketing 
vivienne holds degrees in chemistry from oxford university and 
in business administration from insead
external appointments current and recent
 non executive director of 
the department for international development since december 
2010 non executive director of the climate change organisation 
since december 2010 non executive director of climate change 
capital limited since 2008 and non executive chairman since 
2009 member of the supervisory board of v allourec since february 
2010 member of the offshore advisory committee of mainstream 
renewable power since september 2010  member of the board of 
insead since 2009 executive vice president for bp plc between 
2004 and 2009
5 sir rod eddington c d and f non executive director
beng meng dphil oxon age 61
appointment and election
 director of rio tinto plc and rio tinto limited 
since 2005 sir rod was last reelected in 2009 and will retire at 
the conclusion of the rio tinto limited annual general meeting  
in 2011
skills and experience
 sir rod was chief executive of british airways 
plc until 2005 prior to his role with british airways sir rod was 
managing director of cathay pacific airways from 1992 until 1996 
and executive chairman of ansett airlines from 1997 until 2000
external appointments current and recent
 non executive chairman of 
jpmorgan australia and new zealand since 2006 director of clp 
holdings since 2006 director of news corporation plc since 1999 
director of john swire  son pty limited since 1997 chairman 
of infrastructure australia since 2008 director of allco finance 
group limited from 2006 until 2009 chief executive of british 
airways plc from 2000 until 2005 chairman of the euhong 
kong business cooperation committee of the hong kong trade 
development council from 2002 until 2006
6 guy elliott e chief financial officer  
 ma oxon mba insead age 55
appointment and election
 chief financial officer of rio tinto plc and 
rio tinto limited since 2002 guy was last reelected in 2010
skills and experience
 guy joined the group in 1980 after gaining 
an mba having previously been in investment banking he 
subsequently held a variety of commercial and management 
positions including head of business evaluation and president  
of rio tinto brasil
external appointments current and recent
 non executive director and 
member of the audit committee of royal dutch shell plc since 
september 2010 non executive director and senior independent 
director of cadbury plc from 2007 and 2008 respectively until 
march 2010 104 rio tinto 2010 annual report
board of directors continued
7  michael fitzpatrick a b c and f non executive director  
beng ba oxon age 58
appointment and election
 director of rio tinto plc and rio tinto 
limited since 2006 michael was reelected at the 2010 annual 
general meetings
skills and experience
 michael sold his interest in and ceased to be 
a director of hastings funds management ltd during 2005 the 
pioneering infrastructure asset management company which 
he founded in 1994 he is chairman of treasury group limited 
an incubator of fund management companies he is chairman 
of the australian football league having previously played the 
game professionally and is a former chairman of the australian 
sports commission
external appointments current and recent
 chairman of treasury group 
limited since 2005 director of the walter  eliza hall institute 
of medical research since 2001 chairman of the victorian funds 
management corporation from 2006 to 2008 managing director 
of hastings funds management ltd from 1994 to 2005 director of 
australian infrastructure fund limited from 1994 to 2005
8  yves fortier c d and f non executive director  
cc oq qc lld av em age 75
appointments and election
 director of rio tinto plc and rio tinto 
limited since 2007 yves was elected by shareholders in 2008 
and will retire at the conclusion of the rio tinto limited annual 
general meeting in 2011
skills and experience
 yves fortier was ambassador and permanent 
representative of canada to the united nations from 1988 to 
1992 he is chairman emeritus and a senior partner of the law 
firm ogilvy renault and was chairman of alcan from 2002 
until 2007
external appointments current and recent
 chairman emeritus and senior 
partner of ogilvy renault since 2009 chairman of ogilvy renault 
from 1992 until 2009 director of nov a chemicals corporation from 
1998 until 2009 chairman and director of alcan inc from 2002 until 
2007 director of royal bank of canada from 1992 to 2005 director 
of nortel corporation from 1992 to 2005 governor of hudson’s 
bay company from 1998 to 2006 trustee of the international 
accounting standards committee from 2000 to 2006
9 ann godbehere a c and f non executive director fcga age 55
appointment and election
 appointed a director of rio tinto plc 
and rio tinto limited in february 2010 ann was elected by 
shareholders at the 2010 annual general meetings ann is 
chairman of the audit committee
skills and experience
 ann succeeded sir david clementi as chairman 
of the audit committee upon his retirement from the board at 
the conclusion of the 2010 annual general meetings ann has 
more than 25 years’ experience in the financial services industry 
she spent ten years at swiss re latterly as chief financial officer 
from 2003 until 2007 and from 2008 until 2009 she was interim 
chief financial officer and executive director of northern rock 
post nationalisation
external appointments current and recent
 non executive director 
of ubs ag since 2009 non executive director of atrium 
underwriting group limited and ariel group limited since 2007 
non executive director of prudential since 2007 and chairman 
of the audit committee since 2009 chief financial officer and 
executive director of northern rock from 2008 to 2009
10  richard goodmanson b c d and f non executive director mba 
bec and bcom beng civil age 63
appointment and election
 director of rio tinto plc and rio tinto 
limited since 2004 he was last reelected in 2008 and is 
chairman of the committee on social and environmental 
accountability
skills and experience
 richard was executive vice president and chief 
operating officer of dupont until 2009 he was responsible for a 
number of the global functions and for the non us operations 
of dupont with particular focus on growth in emerging markets 
during his career he has worked at senior levels for mckinsey  co 
pepsico and america w est airlines where he was president and  
chief executive officer
external appointments current and recent
 non executive director 
of qantas airways limited since 2008 economic adviser to the 
governor of guangdong province china from 2003 to 2009 
executive vice president and chief operating officer of dupont 
from 1999 until 2009 director of the united way of delaware 
between 2002 and 2009 chairman between 2006 and 2007
11  andrew gould b c and f non executive director ba fca age 64
appointment and election
 director of rio tinto plc and  
rio tinto limited since 2002 andrew was appointed the senior 
independent non executive director and chairman  
of the remuneration committee at the conclusion of the 2008  
annual general meetings andrew was last reelected in 2009
skills and experience
 andrew is chairman and chief executive officer 
of schlumberger limited where he has held a succession of financial 
and operational management positions including that of executive 
vice president of schlumberger oilfield services and president and 
chief operating officer of schlumberger limited he has worked in 
asia europe and the us he joined schlumberger in 1975 he holds 
a degree in economic history from cardiff university and qualified as 
a chartered accountant with ernst  y oung
external appointments current and recent
 chairman and chief executive 
officer of schlumberger limited since 2003 member of the board of 
trustees of king abdullah university of science and t echnology in 
jeddah saudi arabia since 2008 member of the advisory board of the 
king fahd university of petroleum and minerals in dhahran saudi 
arabia since 2007 member of the commercialisation advisory board 
of imperial college of science t echnology and medicine london 
since 2002 member of the uk prime minister’s council of science and 
t echnology from 2004 to 2007
12  lord kerr of kinlochard a c d and f non executive director 
gcmg ma age 69
appointment and election
 director of rio tinto plc and rio tinto 
limited since 2003 he was last reelected in 2010
skills and experience
 john kerr was in the uk diplomatic service 
for 36 years and headed it from 1997 to 2002 as permanent 
under secretary at the foreign office john previously served in hm 
treasury  and in the soviet union and pakistan as ambassador to the 
european union 1990 to 1995 and the us 1995 to 1997 he has 
been an independent member of the house of lords since 2004
external appointments current and recent
 director of scottish power 
limited since 2009 deputy chairman of royal dutch shell plc 
since 2005 director of the scottish american investment trust 
plc since 2002 advisory board member bae systems since 2008  wwwriotintocom 105
overview performance
production reserves 
and operations governance financial statements additional information
chairman of the centre for european reform london since 2008 
vice president of the european policy centre brussels since 2007 
chairman of the court and council of imperial college london 
since 2005 trustee of the carnegie trust for the universities of 
scotland since 2005 director of the “shell” transport and trading 
company plc 2002 to 2005 advisory board member scottish 
power iberdrola from 2007 to 2009 trustee of the national 
gallery from 2002 to 2010 and trustee of the rhodes trust from 
1997 to 2010
13  hon paul tellier a b c and f non executive director  
lll blitt oxon lld cc age 71
appointment and election
 director of rio tinto plc and rio tinto 
limited since 2007 paul was elected at the 2008 annual  
general meetings
skills and experience
 paul was clerk of the privy council office and 
secretary to the cabinet of the government of canada from 1985 
to 1992 and was president and chief executive officer of  
the canadian national railway company from 1992 to 2002  
until 2004 he was president and chief executive officer of 
bombardier inc
external appointments current and recent
 chairman of global 
container terminals since 2007 director of mccain foods 
since 1996 trustee of the international accounting standards 
foundation since 2007 cochair of the prime minister of canada’s 
advisory committee on the renewal of the public service since 
2006 strategic advisor to société générale canada since 2005 
member of the advisory board of general motors of canada since 
2005 director of bell canada from 1996 to may 2010 director of 
bce inc from 1999 to may 2010 non executive director of alcan 
inc from 1998 to 2007
14 sam walsh executive director ao bcom melbourne age 61
appointment and election
 director of rio tinto plc and rio tinto 
limited since 2009 sam was elected by shareholders at the 2010 
annual general meetings
skills and experience
 sam was appointed executive director  
and chief executive iron ore and australia in 2009 he joined  
rio tinto in 1991 following 20 years in the automotive industry 
at general motors and nissan australia he has held a number of 
management positions within the group including from 2001 to 
2004 chief executive of the aluminium group and from 2004 to 
2009 chief executive of the iron ore group sam is also a fellow of 
the australian institute of management the australasian institute 
of mining and metallurgy and the australian institute of company 
directors in june 2010 sam was appointed an officer in the 
general division of the order of australia
external appointments current and recent
 member of the university of 
western australia’s energy and minerals institute board of trustees 
since september 2010 director of west australian newspaper 
holdings limited since 2008 director of the committee for perth 
ltd between 2006 and 2009 director of the australian mines 
and metals association between 2001 and 2005 director of the 
australian chamber of commerce and industry between 2003 
and 2005
 directors who left the group during 2010
 sir david clementi ma mba 
director of rio tinto plc and rio tinto limited since 2003 sir 
david was chairman of the audit committee until his retirement  
at the conclusion of the 2010 annual general meetings 
skills and experience
 sir david was chairman of prudential plc 
until 2008 prior to which he was deputy governor of the bank of 
england his earlier career was with kleinwort benson where he 
spent 22 years holding various positions including chief executive 
and vice chairman a graduate of oxford university and a 
qualified chartered accountant sir david also holds an mba from 
harvard business school
external appointments current and recent upon leaving the group
 non 
executive director of foreign  colonial investment trust plc since 
2008 chairman king’s cross central general partnership since 
2008 chairman of prudential plc from 2002 until 2008 member 
of the financial reporting council between 2003 and 2007
 david mayhew 
director of rio tinto plc and rio tinto limited from 2000 until his 
retirement at the conclusion of the 2010 annual general meetings 
skills and experience
 david joined cazenove in 1969 and in 1986 
he became the partner in charge of the firm’s capital markets 
department he became chairman of cazenove group limited in 
2001 and jpmorgan cazenove in 2005 until january 2010 when 
he became vice chairman of jpmorgan
external appointments current and recent upon leaving the group
 
vice chairman of jpmorgan effective january 2010 chairman 
of cazenove group limited between 2001 and january 2010 
chairman of jpmorgan cazenove holdings limited formerly 
cazenove group plc between 2005 and january 2010
notes
a audit committee
b remuneration committee
c nominations committee
d  committee on social and environmental accountability
e chairman’s committee
f independent 106 rio tinto 2010 annual report
executive committee
the executive committee is responsible under the leadership of the 
chief executive for the management of the business setting performance 
targets and implementation of the group’s strategy 
1 hugo bague 2 preston chiaro 3 bret clayton 4 jacynthe côté
1 hugo bague ma linguistics age 50
skills and experience
 hugo bague was appointed group executive 
people  organisation in 2009 having joined rio tinto as 
global head of human resources in 2007 previously he worked 
for hewlettpackard where he was the global vice president 
human resources for the technology solutions group based in 
the us prior to this he worked for compaq computers nortel 
networks and abbott laboratories based in switzerland france 
and germany
external appointments current and recent
 non executive director and 
member of the nominating and governance committee and the 
compensation committee of jones lang lasalle incorporated since 
march 2011 member of the advisory council of united business 
institute in brussels belgium since 1995 
2 preston chiaro bsc hons environmental engineering meng
environmental engineering age 57
skills and experience
 preston was appointed group executive 
technology  innovation in 2009 he joined the group in 1991 at 
kennecott utah copper’s bingham canyon mine as vice president 
technical services in 1995 he became vice president and general 
manager of the boron operations in california and was chief 
executive of rio tinto borax from 1999 to 2003 preston then 
became chief executive of the energy group and in 2007 upon a 
management reorganisation he also assumed responsibility for 
the industrial minerals group
external appointments current and recent
 director of cloud peak 
energy inc from 2008 to 2011 board member of resources for 
the future since 2006 director of rössing uranium limited from 
2004 to 2009 director of the world coal institute between 2003 
and 2009 chairman from 2006 to 2008 chairman of the coal 
industry advisory board to the international energy agency 
between 2004 and 2006 director of energy resources of australia 
limited between 2003 and 2006 director of coal  allied 
industries limited between 2003 and 2006 
3 bret clayton ba accounting age 49
skills and experience
 bret was appointed group executive business 
support  operations in 2009 he joined the group in 1995 
and has held a series of management positions including chief 
executive of the copper and diamonds groups president and 
chief executive officer of rio tinto energy america and chief 
financial officer of iron ore prior to joining the group bret 
worked for pricewaterhousecoopers for nine years providing 
auditing and consulting services to the mining industry
external appointments current and recent
 non executive director 
and member of the audit committee of alcan engineered 
products since january 2011 non executive director of ivanhoe 
mines limited between 2007 and 2009 member of the board 
of directors and the executive committee of the international 
copper association between 2006 and 2009 member of the coal 
industry advisory board to the international energy agency iea 
between 2003 and 2006 member of the board of directors of the 
us national mining association between 2002 and 2006
4 jacynthe côté bchem age 53
skills and experience
 jacynthe became chief executive rio tinto 
alcan in 2009 she joined alcan in 1988 and has significant 
operational and international experience in the aluminium 
industry she was chief executive officer primary metal rio tinto 
alcan where she was responsible for all primary metal facilities 
and power generation installations worldwide her previous roles 
in alcan include president and chief executive officer bauxite  
alumina business group and senior management roles in business 
planning human resources and environment health and safety  
jacynthe has a degree in chemistry from laval university in quebec
external appointments current and recent
 member of the advisory 
board of the montreal neurological institute since july 2010 
member of the hautes etudes commerciales board since 2009 
member of the canadian council of chief executives since 2009 
member of the international aluminium institute since 2006
5 andrew harding beng mining engineering mba age 44
skills and experience
 andrew was appointed chief executive 
copper in 2009 he joined rio tinto in 1992 initially working 
for hamersley iron andrew went on to hold operating roles 
within the energy aluminium and iron ore product groups 
including at the mount thorley hunter valley weipa mount 
tom price marandoo and brockman mines in 2007 he became 
global practice leader mining within rio tinto’s technology   wwwriotintocom 107
overview performance
production reserves 
and operations governance financial statements additional information
5 andrew harding 6 harry kenyonslaney 7 doug ritchie 8 debra valentine
innovation group prior to his current role andrew was president 
and chief executive officer kennecott utah copper
external appointments current and recent
 director of ivanhoe mines 
limited between 2009 and july 2010 and from february 2011
6 harry kenyonslaney bsc hons geology age 50
skills and experience
 harry was appointed chief executive of  
rio tinto’s diamonds  minerals product group in 2009 he joined 
the group in 1990 from anglo american corporation and has 
held management positions in south africa australia and the 
uk harry spent his early career at rio tinto in marketing and 
operational roles in the uranium copper and industrial minerals 
businesses in 2004 he was appointed chief executive of energy 
resources of australia and prior to his current role became 
managing director of rio tinto iron  titanium in 2007
external appointments current and recent
 chairman of the australian 
uranium association from 2006 to 2007 chairman of the copper 
development association south africa from 2000 to 2003 
director of energy resources of australia limited from 2004 to 2007
7 doug ritchie llb f ausimm f aim f aicd age 54
skills and experience
 doug was appointed chief executive of 
rio tinto’s energy group in 2009 he has been with the group 
since 1986 when he joined cra as corporate counsel since then 
he has held a number of roles in various rio tinto businesses and 
corporate functions including exploration project development 
and the energy aluminium and diamonds  minerals product 
groups doug’s previous roles have included head of business 
evaluation managing director of dampier salt rio tinto coal 
australia and rio tinto diamonds prior to his current role he was 
managing director strategy of rio tinto
external appointments current and recent
 director of australian coal 
association from 2006 to 2008 director of dalrymple bay coal 
terminal pty ltd from 2006 to 2007 director of queensland 
resources council from 2006 to 2007 deputy chairman of the 
coal industry advisory board to the iea director of coal  allied 
industries limited between 2006 and 2007 and since 2008 
director of rossing uranium limited since 2009 and a director of 
the world coal association since 2010
8 debra valentine ba history jd age 57
skills and experience
 debra was appointed group executive legal 
 external affairs in 2009 having joined rio tinto as global head 
of legal in 2008 debra previously worked at united technologies 
corporation in the us where she was vice president deputy 
general counsel and secretary before then she was a partner with 
the law firm o’melveny  myers in washington dc debra served 
as general counsel at the us federal trade commission from 1997 
to 2001
external appointments current and recent
 member council on 
foreign relations since 1993 american law institute 1991 
commissioner congressional antitrust modernisation commission 
from 2004 to 2007 
tom albanese guy elliott and sam walsh were also members of 
the executive committee in 2010 through their positions as chief 
executive chief financial officer and chief executive of the iron 
ore group respectively their biographies are shown on pages 103 
and 105
 company secretaries
 ben mathews ba hons fcis age 44
skills and experience
 ben joined as company secretary of rio tinto 
plc during 2007 prior to joining rio tinto he spent five years 
with bg group plc as company secretary he has previously 
worked for national grid plc british american tobacco plc and 
pricewaterhousecoopers llp ben is a fellow of the institute of 
chartered secretaries and administrators and has a joint honours 
degree in french and european studies
external appointments current and recent
 none 
 stephen consedine bbus cp a age 49
skills and experience
 stephen joined rio tinto in 1983 and has 
held various positions in accounting treasury and employee 
services before becoming company secretary of rio tinto 
limited in 2002 he holds a business degree and is a certified 
practising accountant
external appointments current and recent
 none  108 rio tinto 2010 annual report
directors’ report
the directors present their report and audited financial 
statements for the year ended 31 december 2010
dual listed structure and constitutional documents
an explanation of the dual listed companies structure dlc 
which unified rio tinto plc and rio tinto limited in 1995 and of 
the companies’ constitutional documents can be found on page 
271 this section also provides a description of voting rights 
restrictions which may apply in respect of the shares of either 
company under specified circumstances
activities and business review
rio tinto’s principal activities during 2010 were minerals 
exploration development production and processing
the business review which is set out on pages 2 to 76 provides  
a comprehensive review of the development performance and 
likely future developments of rio tinto’s operations for the year 
ended 31 december 2010 the information set out in the business 
review is incorporated by reference into this report and is deemed 
to form part of this report 
the subsidiary and associated undertakings principally affecting 
the profits or net assets of the group in the year are listed in notes 
37 to 40 to the financial statements
significant changes and events affecting the group during 2010 
and until the date of this report have been
 on 1 february 2010 the sale to amcor of the majority of the 
alcan packaging businesses comprising alcan packaging global 
pharmaceuticals global tobacco food europe and food asia 
divisions completed for us1948 million 
 during 2010 the group increased its ownership in ivanhoe 
mines to 403 per cent and to 421 per cent in january 2011 
rio tinto controls and manages the oyu tolgoi coppergold 
project in mongolia and has agreed a pathway to increase its 
stake in ivanhoe mines to 49 per cent 
 the sale of the alcan packaging food americas division to 
bemis company inc for a total consideration of us12 billion 
completed on 1 march 2010
 on 19 march 2010 rio tinto announced that it had signed a 
non binding memorandum of understanding with chinalco to 
establish a joint venture covering the development and 
operation of the simandou iron ore project in guinea in which 
chinalco would acquire a 47 per cent interest of rio tinto’s  
95 per cent holding in the simandou project on 29 july 2010 
rio tinto and chalco a subsidiary of chinalco signed a binding 
agreement to establish the joint venture with chalco providing 
us135 billion on an earn in basis through sole funding of 
ongoing development work over the next two to three years 
 on 29 march 2010 the four shanghai employees detained on 
5 july 2009 on charges of receiving bribes and stealing 
commercial secrets were convicted by shanghai number one 
intermediate people’s court 
 on 31 march 2010 rio tinto announced that it had received a 
binding offer from sun european partners llp to acquire the 
alcan beauty packaging business on 5 july 2010 rio tinto 
announced the completion of the sale of its alcan packaging 
business for an undisclosed sum and the acquisition by amcor 
of the medical flexibles business for us66 million 
 with the structural shift in the iron ore market away from 
benchmarking pricing rio tinto announced on 9 april 2010 
that it would be negotiating contracts with its customers to 
supply iron ore priced on a quarterly basis
 the recommencement of rio tinto’s expansion programme  
in its iron ore company of canada ioc operations was 
announced on 6 may 2010 with the investment by ioc of 
us401 million to increase its annual concentrate capacity by 
four million tonnes to 22 million tones by 2012 on 9 february 
2011 a further us277 million investment was announced in 
the next phase of a project that will ultimately raise ioc’s 
concentrate production capacity by 40 per cent to 26 million 
tonnes per year mta
 on 15 june 2010 rio tinto announced that it would invest 
us469 million in constructing the kennecott eagle nickel  
and copper mine in michigan’s upper peninsula us 
 together with bhp billiton rio tinto announced on 21 june 
2010 that it had signed a heads of agreement with the western 
australian government under which i they agreed to pay iron 
ore royalties at all their mines at a rate of 5625 per cent for fine 
ore and 75 per cent for lump ore from 1 july 2010 ii they 
agreed to a set of state agreement amendments to promote 
greater efficiency and flexibility for their respective operations 
and iii they made a combined payment to the state 
government’s consolidated revenue fund of a350 million
 on 30 june 2010 the australian competition tribunal issued a 
decision to not declare the hamersley railway line available for 
third party access under part iiia of the trade practices act the 
robe river line was declared but only until 2018 rather than 
for the 20 year period desired by the applicants
 between july and september 2010 rio tinto announced 
investments to expand cape lambert port and to debottleneck 
dampier port to increase capacity as detailed on page 77
 on 5 august 2010 the group received a binding offer for the sale  
of 61 per cent of alcan engineered products to certain investment 
funds affiliated with apollo global management llc apollo and 
the fonds stratégique d’investissement the divestment completed 
on 4 january 2011
 on 30 august 2010 rio tinto announced an investment 
together with its joint venture participant hope downs iron 
ore pty ltd of us16 billion to develop the hope downs 4  
iron ore project in western australia 
 on 14 september 2010 the group announced its investment of 
us803 million to ramp up the underground block cave project 
at its argyle diamond mine in western australia 
 on 21 september 2010 rio tinto completed the off market  
buyback of all of the rio tinto limited ordinary shares held  
by tinto holdings australia pty ltd
 on 23 september 2010 rio tinto alcan announced a  
us347 million investment to modernise and increase the isal 
smelter’s capacity by 20 per cent following the completion of  
a long term energy supply agreement with landsvirkjun the 
icelandic power utility this was followed by an announcement 
on 1 october 2010 of a further investment of us140 million  
to develop a valueadded casting facility wwwriotintocom 109
overview performance
production reserves 
and operations governance financial statements additional information
 on 18 october 2010 rio tinto announced that it had jointly 
decided with bhp billiton to end plans for an iron ore 
production joint venture in the pilbara region in western 
australia following extensive discussions with regulators
 rio tinto announced on 20 october 2010 that it would invest a 
further us31 billion to expand its iron ore infrastructure in the 
pilbara on 26 november 2010 it was announced that new drilling 
results and ongoing assessment of assets in the pilbara had 
revealed a 20 billion tonne addition to the mineral resource base 
rio tinto announced on 1 december 2010 that it approved a 
further us12 billion investment for significant expansions at the 
brockman 4 and western turner syncline mines in the pilbara in 
its drive to lift annual iron ore production capacity in western 
australia’s pilbara region to 283 mta rio tinto also approved a 
final feasibility study into increasing pilbara production capacity 
to 333 mta
 on 3 december 2010 rio tinto limited and sinosteel 
corporation announced the extension of their 1987 channar 
mining joint venture in the pilbara region leading the way for  
a further 50 million tonnes of iron ore to be produced under 
this joint venture in addition to the original channar 
agreements for the production of 200 million tonnes 
 rio tinto and chinalco signed a nonbinding memorandum of 
understanding on 3 december 2010 to establish an exploration 
joint venture in china to explore mainland china for worldclass 
mineral deposits chinalco will hold a 51 per cent interest in the 
joint venture and rio tinto will hold a 49 per cent interest
 on 14 december 2010 rio tinto announced it is to invest in its 
canadian aluminium smelters to improve production efficiency 
through modernisation and expansion the bulk of this new 
investment – us758 million – will be spent on completing the 
first phase of the ap60 plant in saguenaylacsaintjean quebec 
rio tinto will also invest an additional us300 million for further 
construction in preparation for the us25 billion modernisation 
of the kitimat smelter in british columbia
 rio tinto completed the divestment of its equity holdings in cloud 
peak energy inc on 21 december 2010 following a secondary 
public offering with gross proceeds of us5733 million
 on 23 december 2010 rio tinto announced that it had entered 
into an agreement to acquire all the issued and outstanding shares 
of riversdale mining limited by way of a recommended offmarket 
takeover offer for a valuation of approximately a39 billion the 
offer has been extended to 18 march 2011 
 rio tinto approved a us933 million investment on 9 february 
2011 to extend the life of the marandoo iron ore mine in the 
pilbara region by 16 years to 2030
 on 10 february 2011 rio tinto announced a capital 
management programme comprising a us5 billion share  
buyback which subject to market conditions it expects to 
complete by the end of 2012 
 on 23 february 2011 the group received a binding offer from 
imerys to acquire the talc business for us340 million the 
binding offer is subject to customary closing conditions
details of events after the statement of financial position date are 
contained in note 48 to the financial statements 
as permitted by sections 2993 and 299a3 of the australian 
corporations act 2001 information which is likely to result in 
unreasonable prejudice regarding likely future developments in 
and the expected results of the operations of the group or its 
strategies and prospects has been omitted 
risk identification assessment and management
a summary of the group’s position regarding risk identification 
assessment and management is contained in the risk management 
section on page 24 the group’s principal risks and uncertainties 
are set out on pages 25 to 28
share capital
details of the group’s share capital as at 31 december 2010 can be 
found at notes 28 and 29 to the financial statements details of the 
rights and obligations attached to each class of shares can be found 
on page 269 under the heading “dual listed companies structure – 
voting rights”  the voting rights of shares held beneficially by a third 
party in line with an employee share plan are set out on page 137
details of certain agreements triggered on a change of control can be 
found on page 269 under the heading “dual listed companies structure”  
details of certain restrictions on holding shares in rio tinto are 
described on page 270 under the heading “dual listed companies 
structure – limitations on ownership of shares and merger 
obligations” there are no other restrictions on the transfer of 
ordinary shares in rio tinto plc save for
 restrictions that may from time to time be imposed by laws and 
regulations for example those relating to market abuse and 
insider dealing
 restrictions that may be imposed pursuant to the listing rules 
of the uk financial services authority whereby certain 
employees of the group require approval to deal in shares
 restrictions on the transfer of shares that may be imposed under 
rio tinto plc’s articles of association or under part 22 of the uk 
companies act 2006 in either case following a failure to supply 
information required to be disclosed following service of a 
request under section 793 of the uk companies act 2006 and
 restrictions on the transfer of shares held under certain 
employee share plans while they remain subject to the plan 
details of the substantial shareholders of rio tinto plc and rio 
tinto limited can be found on page 274
at the annual general meetings held in 2010 shareholders authorised
 the purchase by rio tinto limited and its subsidiaries and the 
onmarket repurchase by rio tinto plc of up to 152488000 
rio tinto plc shares representing approximately ten per cent  
of rio tinto plc’s issued share capital at that time
 the offmarket purchase by rio tinto plc of up to 152488000 
rio tinto plc shares acquired by rio tinto limited or its 
subsidiaries under the above authority 
 the offmarket or onmarket buyback by rio tinto limited of 
up to 435 million rio tinto limited shares representing 
approximately ten per cent of rio tinto limited’s issued share 
capital at the time and 
 the offmarket buyback by rio tinto limited of up to all  
of rio tinto limited’s shares indirectly held by rio tinto plc  
through tinto holdings australia pty ltd 110 rio tinto 2010 annual report
directors’ report continued
on 21 september 2010 rio tinto completed the offmarket 
buyback of all of the rio tinto limited shares held by tinto 
holdings australia pty ltd the buyback was undertaken in two 
tranches rio tinto limited acquired 150437365 shares from 
tinto holdings australia pty ltd at a price per share of a6927  
on 27 august 2010 the remaining 20635155 shares were 
bought back at a price of a7513 on 21 september 2010 
all shares repurchased by rio tinto limited from tinto holdings 
australia pty ltd were subsequently cancelled
during 2010 in order to satisfy obligations under employee share 
plans rio tinto plc issued 2336005 shares from treasury and 
rio tinto plc’s registrar purchased on market 693000 shares and 
delivered 561852 ordinary shares to plan participants rio tinto 
limited’s registrar purchased on market and delivered 1550969 
shares to plan participants
also during the year the companies’ registrar purchased on 
market 660948 rio tinto plc shares and 658700 rio tinto 
limited shares to satisfy obligations to shareholders under the 
dividend reinvestment plans
on 10 february 2011 rio tinto announced a capital management 
programme comprising a us5 billion share buyback which 
subject to market conditions is expected to complete by the end 
of 2012 in the period to 21 february 2011 1725000 rio tinto 
plc shares were repurchased for a total aggregate consideration  
of us125500000
for the period 1 january 2011 to 21 february 2011 rio tinto plc 
issued 354237 shares from treasury in connection with employee 
share plans and rio tinto limited’s registrar purchased on market 
and delivered 462169 shares to plan participants 
awards over 3010321 rio tinto plc shares and 1783657 
rio tinto limited shares were granted under employee share 
plans during 2010 as at 21 february 2011 awards were 
outstanding over 11624153 rio tinto plc shares and 5842538 
rio tinto limited shares upon vesting awards may be satisfied 
by the issue of new shares the purchase of shares on market or 
in the case of rio tinto plc by issuing treasury shares
dividends
the total dividend for 2010 will be us 108 cents of which us 45 
cents was paid as an interim dividend in september 2010 final 
dividends of 3914 pence or 6194 australian cents per share will 
be paid on 31 march 2011 full details of dividends paid and the 
dividend policy can be found on page 262
annual general meetings
the 2011 annual general meetings will be held on 14 april in 
london and on 5 may in perth separate notices of the 2011 
annual general meetings are produced for the shareholders of 
each company
directors
the names of the directors who served during the year together 
with their biographical details and other information are shown 
on pages 102 to 105 sir david clementi and david mayhew 
retired at the conclusion of the rio tinto limited annual general 
meeting held on 26 may 2010 sam walsh ann godbehere and 
robert brown were appointed as directors with effect from 5 june 
2009 9 february 2010 and 1 april 2010 respectively and were 
elected by shareholders at the 2010 annual general meetings 
purchases of shares 
rio tinto plc 
a total number of 
shares purchased
b average 
price paid per 
share us
 c total number of 
shares purchased 
as part of publicly 
announced plans or 
programmes
rio tinto limited 
a total number of 
shares purchased
b average price 
paid per 
share us
c total number of 
shares purchased 
as part of publicly 
announced plans or 
programmes
 rio tinto group 
approximate 
dollar value of 
shares that may 
yet be purchased 
under the plans or 
programmes us
2010
1 jan to 31 jan – – – 269187 7195 – –
1 feb to 28 feb – – – 493543 6391 – –
1 mar to 31 mar – – – 181346 6866 – –
1 apr to 30 apr 271553 6102 – 416995 7254 – –
1 may to 31 may – – – 46962 5297 – –
1 jun to 30 jun – – – 60687 5894 – –
1 jul to 31 jul – – – 7116 6196 – –
1 aug to 31 aug – – – 145532 6680 – –
1 sep to 30 sep 1082395 5628 – 350185 6861 – –
1 oct to 31 oct – – – 25545 8143 – –
1 nov to 30 nov – – – 63622 8826 – –
1 dec to 31 dec – – – 148949 8593 – –
total 1353948 5723 – 2209669 6824 – –
2011
1 jan to 31 jan – – – 225999 8490 – –
1 feb to 21 feb 1725000 7277 1725000 236170 8817 – 4875000000
notes
a rio tinto plc ordinary shares of 10p each rio tinto limited shares  
b the average prices paid have been translated into us dollars at the exchange rate on the day of settlement  
c  shares purchased by the companies’ registrar in connection with the dividend reinvestment plans and employee share plans are not deemed to form part of any publicly announced plan or programme wwwriotintocom 111
overview performance
production reserves 
and operations governance financial statements additional information
a provision of the new uk corporate governance code requires 
all directors to retire and submit themselves for reelection by 
shareholders annually with the exception of sir rod eddington 
and yves fortier who will be retiring at the conclusion of the 2011 
annual general meetings all directors will stand for reelection at 
the 2011 annual general meetings 
details of directors’ service contracts and letters of appointment 
can be found on page 138 and page 141
a table of directors’ attendance at board and committee meetings 
during 2010 is on page 118
remuneration of directors and executives
the remuneration report starting on page 128 forms part of the 
directors’ report and includes details of the nature and amount of 
each element of the remuneration including share options of 
each of the directors and of the key management personnel and 
highest paid executives below board level in respect of whom 
disclosures are required in 2010
the 2009 remuneration report was approved by shareholders at 
the 2010 annual general meetings
secretaries
details of the company secretary of each of rio tinto plc and  
rio tinto limited together with their qualifications and 
experience are set out on page 107
corporate governance
a full report on corporate governance can be found on pages 114  
to 127 and forms part of this directors’ report
indemnities and insurance
the articles of association and constitution of the companies 
provide for them to indemnify to the extent permitted by law 
officers of the companies including officers of wholly owned 
subsidiaries against liabilities arising from the conduct of the 
group’s business the directors and the company secretaries of 
the companies and certain employees serving as directors of 
subsidiaries at the group’s request have been indemnified in 
accordance with these provisions no amount has been paid 
under any of these indemnities during the year
the group has purchased directors’ and officers’ insurance during 
the year in broad terms the insurance cover indemnifies 
individual directors’ and officers’ personal legal liability and legal 
defence costs for claims arising out of actions taken in connection 
with group business it is a condition of the insurance policy that 
detailed terms and premiums paid cannot be disclosed
employment policies and communication
information about the group’s employment policies and our 
employees is available on pages 32 and 33 of the sustainable 
development review
donations
during 2010 the group spent us166 million on community 
assistance programmes and payments into benefit receiving trusts 
set up in directly negotiated community impact benefit 
agreements as required by uk regulation donations in the uk 
during 2010 amounted to £18 million 2009 £18 million 
including £018 million for education programmes £097 million 
for environment programmes £001 million for health 
programmes £057 million for general sponsorships and donations 
and management costs totalling £005 million no donations were 
made for political purposes in the eu australia or elsewhere as 
defined by the uk companies act 2006
governmental regulations
rio tinto is subject to extensive governmental regulations 
affecting all aspects of its operations and consistently seeks to 
apply best practice in all of its activities due to rio tinto’s 
product and geographical spread there is unlikely to be any single 
governmental regulation in effect that could have a material effect 
on the group’s business
rio tinto’s operations in australia and new zealand are subject  
to state and federal regulations of general application governing 
mining and processing land tenure and use environmental 
requirements including site specific environmental licences 
permits and statutory authorisations workplace health and safety 
trade and export corporations competition access to 
infrastructure foreign investment and taxation some operations 
are conducted under specific agreements with the respective 
governments and associated acts of parliament
in addition rio tinto’s uranium operations in the northern 
territory australia and namibia are subject to specific regulation 
in relation to mining and the export of uranium
us and canadabased operations are subject to local state 
provincial and national regulations governing mining and 
processing access to infrastructure land tenure and use 
environmental aspects of operations product and workplace 
health and safety trade and export administration corporations 
competition securities and taxation in relation to hydroelectric 
power generation in canada water rights as well as power sales 
and purchases are regulated by the quebec and british columbia 
provincial agencies
rio tinto’s operations in europe are subject to national and 
european rules and regulations governing general and specific 
aspects of current and planned operations notably land tenure 
and use workplace health and safety environmental issues 
including applicable regulations in case of sale or closure of 
industrial sites and permit requirements concerning activities 
listed for environmental protection purposes chemical risks 
management reach competition requirements including 
compliance with antitrust rules trade and export corporations 
intellectual property labour requirements including personal 
data protection investment and taxation
rio tinto’s south africanbased operations are subject to black 
economic empowerment legislation which includes the 
requirement to transfer for fair value 26 per cent of the group’s 
south african mining assets to historically disadvantaged south 
africans by 2014
environmental regulation
rio tinto measures its performance against environmental 
regulation by rating incidents on a low moderate high or  
critical scale of likelihood and consequence of impacting the 
environment high and critical ratings are reported to the 
executive management team and the committee on social and 
environmental accountability including progress with remedial 
actions prosecutions and other breaches are also used to gauge 
rio tinto’s performance 112 rio tinto 2010 annual report
directors’ report continued
in 2010 there were 18 environment incidents rated high  
at rio tinto managed operations compared with 12 in 2009 
these incidents were of a nature to affect the environment or to 
concern local communities of these nine resulted from water 
discharge six were spills and three related to air emissions 
examples of these include
 discharge standards for water being exceeded and also the 
overflow of leachate from a landfill to an adjacent water course 
at alucam cameroon
 leakage of unleaded petrol from a storage tank at gove australia
 a spill of alumina and coke waste from the loading dock at the 
port for alucam cameroon
 recorded levels for dust and tar in air emissions which  
exceeded permitted amounts on a number of occasions  
at rotterdam holland
 flooding during a storm event which led to the overflow of 
water from the red mud retention dam onto land adjoining  
the facility at gardanne france
 overflow from a retention pond into local waterways during  
a high rainfall event at kitimat canada
 flooding of sedimentladen water off site onto nearby land and 
creeks following heavy rainfall at northparkes australia
 a pump failure at a weir during a storm resulted in an overflow 
of mine water into the local river at palabora south africa
 recording of levels of so
2
 in air emissions above permitted 
amounts on a number of occasions at palabora south africa
during 2010 13 operations incurred fines amounting to 
us540328 us80150 in 2009 several fines paid in 2010 
relate to incidents that occurred in 2008 and 2009 an amount of 
us262046 relates to an incident that occurred in september 
2008 at a plant in saguenay canada an amount of us174697 
relates to an incident that occurred in april 2009 at a port facility in 
saguenay canada an amount of us48527 relates to an incident 
that occurred in august 2008 at a plant in saguenay canada
australian corporations that exceed specified thresholds are 
required under the australian national greenhouse and energy 
reporting act 2007 to register and report on greenhouse gas 
emissions and energy use and production three rio tinto 
entities rio tinto limited alcan gove pty limited and pechiney 
consolidated australia limited are separately covered by the act 
all three companies submitted their reports by the required  
31 october 2010 deadline
the same three rio tinto entities have obligations under the 
australian energy efficiency opportunities act 2006 eeo  
all three completed the required annual public reporting for  
2010 eight operations undertook eeo assessments in 2010  
this completed the first five year cycle of assessments for rio tinto 
corporations eeo requirements continue to be communicated  
to all sites covered by the act with internal reporting and 
compliance systems augmented
further information in respect of the group’s environmental 
performance is included throughout this annual report in the 
sustainable development section on pages 29 to 41 and on the website
legal proceedings
neither rio tinto plc nor rio tinto limited nor any of their 
subsidiaries is a defendant in any proceedings which the directors 
believe will have a material effect on either company’s financial 
position or profitability contingencies are disclosed in note 35 to 
the financial statements
exploration research and development
the group carries out exploration and research  development in 
support of its activities as described more fully under exploration 
and technology  innovation on pages 62 to 64 amounts charged 
for the year net of any gains on disposal generated a net loss for 
exploration and evaluation of us72 million 2009 net gain 
us380 million research and development costs were us187 
million 2009 us193 million
auditors
pricewaterhousecoopers llp and pricewaterhousecoopers are  
the auditors of rio tinto plc and rio tinto limited respectively 
pricewaterhousecoopers llp have indicated their willingness to 
continue in office as auditors of rio tinto plc and a resolution to 
reappoint them as auditors of rio tinto plc will be proposed at  
the 2011 annual general meetings the resolution will also seek 
authority for the audit committee to determine their 
remuneration pricewaterhousecoopers will continue in office  
as auditors of rio tinto limited 
a copy of the declaration given by pricewaterhousecoopers as  
the group’s external auditors to the directors in relation to the 
auditors’ compliance with the independence requirements of the 
australian corporations act 2001 and the professional code of 
conduct for external auditors is set out on page 256 in the 
financial statements
no person who was an officer of rio tinto during 2010 was a 
director or partner of the auditors at a time when the auditors 
conducted an audit of the group
each person who held the office of director at the date the board 
resolved to approve this report makes the following statements
 so far as the directors are aware there is no relevant audit 
information of which the auditor is unaware
 the directors have taken all steps that he or she ought to have 
taken as a director to make him or herself aware of any relevant 
audit information and to establish that the auditor is aware of 
that information
principal auditor – audit and non audit fees and services
the amounts payable to the group’s principal auditors were
2010 
usm
2009 
usm
audit fees
a
167 232
audit services in connection
with divestment programme
b
91 220
tax fees 04 21
all other fees
c
71 148
333 621
a audit fees relating to statutory audits 
b represents fee for audit of carve out financial statements 
c  all other fees in 2010 include those relating to the bond issues divestment programme 
and similar corporate projects  wwwriotintocom 113
overview performance
production reserves 
and operations governance financial statements additional information
further information on audit and non audit fees is set out in note 
43 to the financial statements
a description of rio tinto’s policies to uphold the independence 
of the group’s principal auditors is set out in the corporate 
governance section on page 125 based on advice provided by the 
audit committee as set out in the report of the audit committee 
on page 119 the directors are satisfied that the provision of non 
audit services by pricewaterhousecoopers is compatible with the 
general standard of independence for auditors and the standards 
imposed by the australian corporations act 2001 and 
us legislation
financial instruments
details of the group’s financial risk management objectives and 
policies and exposure to risk are described in note 33 to the 2010 
financial statements
value of land
most of the group’s interests in mining properties and leases and 
in other land and buildings have been included in the financial 
statements at cost in accordance with its accounting policies it is 
not possible to estimate the market value of such interests in land 
as this will depend on product prices over the long term which 
will vary with market conditions
creditor payments
it is the group’s policy to agree terms of payments with suppliers 
when entering into contracts and to meet its obligations 
accordingly the group does not follow any specific published 
code or standard on payment practice
at 31 december 2010 there were 23 days’ 2009 24 days 
purchases outstanding in respect of the group based on the total 
invoiced by suppliers during the year
uk financial reporting review panel
following discussions with the uk financial reporting review 
panel frrp rio tinto has agreed to include certain additional 
information in the 2010 annual report at the frrp’s request  
this information includes on page 32 additional details of the 
potential health risks posed by exposure to workers and 
communities surrounding uranium mines on page 34 details  
of the sensitivities the group faces in dealing with local 
communities such as at the la granja copper development in 
peru and the eagle project in michigan in the united states on 
page 37 an example of the potential for the group’s projects to 
impact on biodiversity with information relating to biodiversity 
projects associated with the group’s activities in madagascar on 
page 38 additional details of the nature of the group’s interests in 
the nonmanaged grasberg mine in indonesia the nature of the 
environmental risks and social issues relating to that mine and 
reference to the sale of shares by the norwegian government 
pension fund in 2008 as an example of the possible impact of  
the reputational risks faced by the group in relation to its 
nonmanaged operations 
going concern
the directors having made appropriate enquiries have satisfied 
themselves that no material uncertainties that cast significant 
doubt about the ability of the companies and the group to 
continue as a going concern have been identified and they have  
a reasonable expectation that the group has adequate financial 
resources to continue in operational existence for the foreseeable 
future therefore these financial statements have been prepared 
on a going concern basis 
the directors’ report is made in accordance with a resolution of 
the board
jan du plessis chairman 
4 march 2011 114 rio tinto 2010 annual report
rio tinto’s board is ultimately responsible for the success of the 
group and upholds high standards of corporate governance 
that will enable us to achieve our vision of global sector 
leadership
corporate governance
governance
sustainable development
values
the way
we work
board performance
key activities during 2010
 monitoring economic developments in order to meet the challenges  
of the financial volatility of oecd countries and the opportunities 
presented by the growing levels of urbanisation and industrialisation  
in populous parts of the world
 promoting the growth of the business evidenced in particular by  
the signature of a joint venture agreement with chalco for the 
development and operation of the simandou iron ore project in 
guinea the approval of further funding for expansion of pilbara iron 
ore capacity to 283 million tonnes per annum and other corporate 
activity relating to oyu tolgoi and riversdale
 positioning rio tinto to meet fiscal and monetary challenges 
including engagement with the australian government in relation 
to its proposed resources super profits tax and its subsequent 
replacement with a minerals resource rent tax
 overseeing the management of the risks facing rio tinto seeking 
to influence government and other external stakeholders within 
the mining and natural resource sector relating to resource 
nationalism and socioeconomic development
 reviewing each of the product group strategies
 considering and eventually withdrawing from plans to create the 
western australian iron ore production joint venture with bhp billiton
 driving completion of the divestment programme
board objectives
 prioritise value adding growth
 support the vision of global sector leadership
 regular review and oversight of group strategy
 review financial and nonfinancial performance metrics
 oversee succession planning for the board and senior executives
 strive for excellence in the group’s governance processes and policies 
including risk governance
 review and implement actions from board and board committee 
performance evaluations
 deliver yearonyear improvement in safety performance
 maintain a strong balance sheet
the board of directors firmly believes that high standards of 
corporate governance form an essential underpinning to the 
achievement of rio tinto’s vision to become the sector leading 
global mining and metals company and to maximise 
shareholder returns
rio tinto takes a unified approach to corporate governance to 
comply with the regulatory obligations associated with its three 
principal stock exchange listings in the uk australia and the us 
statements of compliance with each of the corporate governance 
codes applied by these jurisdictions are set out on page 127 
board
rio tinto plc and rio tinto limited have a common board of 
directors the directors are responsible for the success of the group 
and through the independent oversight of management are 
accountable to shareholders for the performance of the business
responsibilities
the principal role of the board is to set the group’s vision and to 
regularly review its strategic direction in doing this the board 
also has responsibility for the establishment and maintenance of 
effective standards of corporate governance across the group and 
oversees management’s control and accountability framework  
a formal schedule of matters specifically reserved for decision  
or consideration by the board as a whole has been agreed by the 
directors this schedule covers areas such as the group’s strategy 
major investments and acquisitions it is available on the 
corporate governance section of the website
in line with its principal role the board is ultimately accountable 
to rio tinto’s shareholders for the performance of the business 
responsibility for day to day management of the business is 
delegated to the chief executive who in turn has established  
an executive team the executive committee with authorities 
delegated to individual executives all within an agreed financial 
control framework as part of the annual financial planning 
process the board sets annual performance targets which  
include personal and business performance measures under the 
group’s short term incentive plan detailed on page 133 of the 
remuneration report these performance targets are determined 
by the remuneration committee on behalf of the board for the 
chief executive based upon his proposals and objectives for the 
year the chief executive establishes targets for the other 
members of his executive committee which are then cascaded 
throughout management teams further details of the 
performance evaluation of the executive directors and other 
senior executives is discussed in the remuneration report wwwriotintocom 115
overview performance
production reserves 
and operations governance financial statements additional information
board balance and independence
chairman and chief executive
the roles of the chairman and chief executive are separate and  
the division of their respective responsibilities has been reviewed 
and approved by the board
board balance
rio tinto has a diverse board comprising directors drawn from a 
wide range of professional backgrounds and geographic areas the 
board supports the principle of diversity and its implementation 
throughout rio tinto and believes that a board and employee 
community reflective of the group’s global activities is critical  
to the success of the organisation see pages 116 to 117 for more 
information on diversity
as of the date of this report the board consists of 14 directors  
the chairman three executive directors and ten independent non 
executive directors
the names skills and experience of each director together with 
their terms in office are shown in the biographical details on 
pages 102 to 105 details of changes to the board during 2010 and 
in the year to date are set out in the directors’ report on page 110
sir rod eddington and yves fortier and have announced their 
intention to retire from the boards upon the conclusion of the 2011 
annual general meetings the board will then comprise 12 directors 
of which eight will be independent non executive directors
director independence
the tests of independence of a non executive director in the 
jurisdictions where rio tinto has listings are not wholly 
consistent the board has therefore adopted a formal policy for 
the determination of the independence of its non executive 
directors this policy which includes materiality thresholds for 
the measurement of independence to be approved by the board  
is available on the group’s website
among its key criteria are independence from management and the 
absence of any business relationship which could materially 
interfere with the director’s independence of judgment and  
ability to provide a strong valuable contribution to the board’s 
deliberations or which could interfere with the director’s ability  
to act in the best interests of the group where contracts in the 
ordinary course of business exist between rio tinto and a company 
in which a director has declared an interest these are reviewed for 
materiality to both the group and the other party to the contract 
“material” is defined in the policy as being where the relationship 
accounts for more than two per cent of either parties’ consolidated 
gross revenue per annum although the test also takes other 
circumstances into account
applying these criteria the board is satisfied that all of its non 
executive directors are independent in accordance with this policy
jan du plessis upon his original appointment to the board as a 
non executive director in september 2008 was deemed to be 
independent in accordance with the criteria set by the board’s 
policy at the time of his appointment as non executive chairman 
from 20 april 2009 the board determined that he continued to be 
independent under the policy in the board’s view he continues to 
satisfy the tests for independence under the australian securities 
exchange corporate governance principles and recommendations 
“asx principles” and the new york stock exchange corporate 
governance standards “nyse standards”
conflict of interests
uk company law allows the board to authorise a situation in which 
there is or may be a conflict between the interests of rio tinto and 
the direct or indirect interests of a director or between the director’s 
duties to rio tinto and to another person further to the approval 
obtained from shareholders in 2008 rio tinto plc’s articles of 
association give directors the power to authorise such conflicts  
the board has adopted procedures for ensuring that its powers  
to authorise conflicts operate effectively and for this purpose a 
register of conflicts and any authorisation granted by the board  
is maintained by the company secretary and reviewed biannually 
by the board
executive directors’ other directorships
executive directors may on occasion be invited to become non 
executive directors of other companies the board has adopted  
a procedure under which approval may be given to accept such 
invitations recognising the benefit to be derived to the individual 
and to rio tinto from such exposure for further information see 
page 139
miningengineering 33
consumer goodsservices 21
businessfinance 14
general industry 14
government affairs 14
law 4
industrybackground experience
strategy 43
site visits  familiarisation 25
operational  financial 
performance 22
governance 8
board evaluation 2
how the board members spent their time in 2010
excludes board committee responsibilities 
  and delegated authorities by the board
0  3 years 46
4  6 years 36
7  9 years 18
length of tenure – non executive directors only 116 rio tinto 2010 annual report
corporate governance continued
election and reelection
the directors may appoint additional members to join the board during 
the year directors appointed in this way will upon the recommendation 
of the board offer themselves for election by shareholders at the first 
annual general meetings after their appointment 
in subsequent years the reelection of directors is subject to each 
director meeting the independence criteria detailed above the 
absence of any conflicts of interests ongoing commitment to 
group activities and satisfactory performance
in accordance with a new provision of the uk corporate governance 
code formerly the combined code rio tinto expects to submit all 
directors for reelection annually with effect from its annual general 
meetings in 2011 
non executive directors are normally expected to serve at least six 
years and except in special circumstances would not normally 
serve more than nine years
governance 
the board meets regularly in order to effectively conduct its 
business in 2010 there were eight scheduled board meetings  
and three board meetings convened and held at short notice  
the number of meetings held in 2010 is a reflection of the 
considerable corporate activity considered by the board during the 
year particularly in relation to the proposed iron ore production 
joint venture with bhp billiton in western australia divestments 
capital expenditure commitments and acquisition opportunities 
details of the directors’ attendance at all of the board and 
committee meetings held in 2010 are set out on page 118
the board has regular discussions with the executives during the 
year on the group’s strategy these discussions will typically 
include strategy presentations that are given by product group 
chief executives other members of the executive committee or 
global heads of function the board also holds an annual two day 
strategysetting meeting with the executive committee which 
includes broader detailed review sessions on the group’s strategic 
direction the outputs from this event help underpin the board’s 
annual financial planning exercise and provide strategic direction 
and focus to the executive team through effective allocation of the 
group’s resources
directors receive timely regular and appropriate management and 
other information to enable them to fulfil their duties they also 
have direct access to the advice and services of the company 
secretaries in the event that they consider it to be required in the 
delivery of their fiduciary duties the directors are also able to 
obtain independent professional advice at the group’s expense 
through the company secretaries
in addition to these formal processes the directors are in regular 
informal communication with members of the executive 
committee and other senior executives this helps to foster an 
open and regular exchange of knowledge and experience between 
management and the non executive directors
to continue building on the formal induction programmes  
which all new non executive directors undertake they are 
routinely provided with training and development opportunities 
in 2010 these opportunities included a briefing on reserves and 
mineral resource reporting the directors are also encouraged  
to participate in site visits to the group’s operations around the 
world and to meet local employees in 2010 directors were able  
to benefit in this way by a visit to the group’s coal operations  
in australia the board also takes the opportunity to combine 
attendance at the annual general meeting in australia with  
site visits
board performance evaluation
under the leadership and guidance of the chairman and with the 
support of the company secretary the directors continue to review 
the design and effectiveness of the board evaluation processes 
these processes have been further refined in 2010 resulting in an 
annual exercise to evaluate not only the board’s effectiveness but 
also that of the board committees and individual directors 
each non executive director’s performance is appraised personally  
by the chairman each year for 2010 in light of the publication of the 
new uk corporate governance code which requires the evaluation  
of the board to be externally facilitated at least every three years a 
range of alternatives for conducting the evaluation of the board and 
committees was considered the board concluded that an evaluation 
process led by jan du plessis in his capacity as chairman of the 
board managed by the company secretary but overseen by an 
independent third party was appropriate for 2010 since it was 
considered that this approach would promote further transparency 
and objectivity and facilitate a challenging and rigorous self
assessment process summarised opposite
for the board committees a similar process was followed with the 
assistance of the external facilitator agreed with the committee 
chairman and completed by each committee member and 
regular attendees
the senior independent non executive director leads a discussion  
involving all of the non executive directors without the chairman  
in attendance to assess the chairman’s performance taking into 
consideration the views of the executive feedback is provided directly 
to the chairman by the senior independent non executive director
the chief executive undertakes a performance evaluation of the 
other executive directors taking into consideration the views  
of the chairman and non executive directors feedback is often 
provided directly to the executive directors by the chief executive
based upon the results of these evaluations summarised opposite  
it was concluded that the board and its committees are operating 
effectively and that the individual directors’ performance continues  
to be effective and demonstrates the level of commitment expected  
by rio tinto
diversity
rio tinto’s commitment to diversity and inclusion
we believe that diversity improves business outcomes we are a 
global company and wherever we operate and across every part 
of our business we strive to create an inclusive culture in which 
difference is recognised and valued by bringing together men  
and women from diverse backgrounds and giving each person  
the opportunity to contribute their skills experience and 
perspectives we believe that we are best able to develop 
innovative solutions to challenges and deliver sustainable  
value for rio tinto and its stakeholders 
what diversity and inclusion means for rio tinto
 embracing workforce diversity irrespective of age gender race 
national and ethnic origin religion sexual orientation physical 
ability language wwwriotintocom 117
overview performance
production reserves 
and operations governance financial statements additional information
board and board committee evaluations
based upon the results of these evaluations it was concluded that the board and its 
committees are operating effectively
evaluations completed by 
members of the board board 
committees and the executive 
committee
assessment examples of agreed actions
key areas of focus for the board
 board structure and dynamics
 board composition and capability
 strategy planning and risk
 succession planning
 culture and relationships
 board and committee governance
 board process and support 
 directors’ training and development
key areas of focus for board 
committees
 roles and responsibilities
 performance and effectiveness
 capabilities of members
 interaction with management
 committee governance and processes
 members’ training and development
for the board
 the evaluation results informed 
discussions between the chairman 
and each individual director
 the chairman also took the 
opportunity to provide feedback on 
each non executive director’s 
individual performance and 
contribution together with that  
of the chief executive the chief 
executive undertook this process  
for the other executive directors
 the board used one of its scheduled 
meetings to discuss the output from 
its performance evaluation and agreed 
a number of actions
for board committees
 the evaluation results were collated 
and presented for discussion and 
debate and to agree actions
for the board
 a desire for continued improvement of the process 
by which management proposals are made to and 
reviewed by the board and its committees
 seeking to further enhance the non executive 
directors’ induction process and their continued 
training and development
 building on the improvements made in risk 
governance in 2010 and placing increased emphasis 
on the oversight of reputational risk
 enhancing the board’s mix of experience to assist its 
understanding of investor sentiment
for board committees
 reviewing the audit committee’s risk governance 
responsibilities in light of the implementation  
of a refreshed risk management process in 2010
 a continued focus for the remuneration 
committee on ensuring alignment of reward  
with strategic objectives
 reviewing the range of non financial corporate social 
responsibilityrelated indicators provided to the 
committee on social and environmental 
accountability and the board and reexamining the 
quality and substance of stakeholder engagement
 valuing diversity of perspective – leveraging the diverse 
thinking skills experience and working styles of our 
employees
 building a flexible organisation – providing opportunities for 
work arrangements that accommodate the diverse needs of 
individuals at different life and career stages
 respecting stakeholder diversity – developing strong and 
sustainable relationships with diverse shareholders communities 
employees governments customers and suppliers
how we are building an inclusive environment at rio tinto
we use five levers to drive action and build awareness about 
diversity and inclusion long and short term initiatives are 
prioritised based on need and impact 
 governance models such as the recently established group 
diversity council
 policies practices and targets
 leadership and cultural competence
 stakeholder relationships
 education and communication
what our current focus is
priorities for 2011 include five year programmes to
 improve the representation of women in senior management 
roles and the pipeline of female talent and
 improve the number of individuals from underrepresented 
nationalities in professional and leadership roles especially people 
from emerging regions in which rio tinto is developing business 118 rio tinto 2010 annual report
corporate governance continued
attendance at board and committee meetings during 2010
board
 scheduled 
b
board
 short notice 
b
audit
 committee 
b
nominations
committee 
b
committee on social 
and environmental
accountability 
b
remuneration
committee 
b
chairman’s
committee 
b
tom albanese 88 33 – – – – 1718
sir david clementi
 a
23 11 44 11 11 –
robert brown 66 33 – 22 44 – –
vivienne cox 88 23 77 33 – – –
jan du plessis 88 33 – 33 – – 1818
sir rod eddington 88 23 – 33 66 – –
guy elliott 88 33 – – – – 1618
michael fitzpatrick 88 33 77 33 33 –
yves fortier 88 23 – 33 56 – –
ann godbehere 88 23 66 22 –
richard goodmanson 88 33 – 33 66 33 –
andrew gould 88 23 – 33 – 33 –
lord kerr 88 33 77 33 66 –
david mayhew
 a
23 11 – – – – –
paul tellier 88 33 77 33 – 33 –
sam walsh 88 33 – – – – –
a retired from the board on 26 may 2010
b  number of meetings attendedmaximum the director could have attended 
board committees
the board has established committees which are responsible for audit remuneration executive and non executive 
succession social and environmental matters and assisting the board to deliver its responsibilities each committee plays  
a vital role in helping the board ensure that high standards of corporate governance are maintained throughout the group 
the committees are governed by terms of reference which are reviewed annually and can be viewed in the corporate 
governance section of the website
governance structure
audit 
committee
nominations  
committee
committee on 
social and 
environmental 
accountability
remuneration  
committee
chairman’s  
committee
disclosure and 
procedures  
committee
board of directors board of directors
board 
committees
management 
committees
chief executive chief financial  
officer
continuous 
disclosure  
committee 
a
investment  
committee
executive 
committee
strategy and 
finance  
committee
risk 
management 
committee
ore reserves 
steering  
committee
closure  
committee
a the continuous disclosure committee is an independent management committee wwwriotintocom 119
overview performance
production reserves 
and operations governance financial statements additional information
audit committee report
members
 a b
1 ann godbehere – chair
2 vivienne cox
3 michael fitzpatrick
4 lord kerr
5 paul tellier
requirement that at least one committee member should have 
recent and relevant financial experience following the retirement 
of sir david clementi as its chairman with effect from the 
conclusion of the 2010 annual general meetings ann godbehere 
chairman of the committee since 25 may 2010 and michael 
fitzpatrick are considered by the board to have recent and 
relevant financial experience and are therefore the committee’s 
financial experts all other members of the committee are in the 
opinion of the audit committee deemed to be financially literate 
by virtue of their business experience
the audit committee applies policies for the preapproval of 
permitted services provided by the group’s principal auditors all of 
the engagements for services provided by them were either within 
the preapproval policies or approved by the audit committee the 
directors are satisfied that the provision of non audit services by 
pricewaterhousecoopers in accordance with this procedure is 
compatable with the general standard of independence for 
auditors imposed by relevant regulations including the australian 
corporations act 2001 and us legislation
the committee considered reports from the group’s auditors 
pricewaterhousecoopers and rio tinto corporate assurance on the 
activities undertaken in reviewing and auditing the control environment 
in order to assess the quality and effectiveness of the internal control 
system this included an evaluation of the effectiveness of the group’s 
internal controls over financial reporting and the group’s disclosure 
controls and procedures in accordance with sections 404 and 302 of the 
sarbanes oxley act 2002 respectively  a review of the scope and the 
outputs from the annual internal control questionnaire a key element 
of rio tinto’s internal control framework was also evaluated
key achievements 
during 2010 the committee undertook the following activities
 reviewed and updated the terms of reference to reflect
i the committee’s role with respect to resource and reserves 
evaluation and reporting
ii the committee’s amended responsibility with respect to 
risk following the establishment of a risk management 
committee and the enhancement of the board’s oversight 
role for risk management the committee is now responsible 
for conducting an annual review of the maturity and 
effectiveness of management processes relating to risk 
iii the committee’s role in overseeing the operation of the 
integrity and compliance programme including the 
whistleblowing facility 
 evaluated the effectiveness of pricewaterhousecoopers agreed 
the fees payable in respect of the 2010 audit assessed their 
key responsibilities
the primary function of the audit committee as set out in its 
terms of reference which are summarised below is to assist the 
board in fulfilling its responsibilities by monitoring decisions and 
processes designed to ensure the integrity of financial reporting 
and sound systems of internal control and risk management the 
scope of the committee’s responsibilities includes financial 
reporting and internal controls over financial reporting internal 
controls corporate assurance external auditors risk management 
and the whistleblowing programme
in carrying out its responsibilities the committee has full 
authority to investigate all matters that fall within its terms of 
reference accordingly the committee may
 obtain independent professional advice in the satisfaction of its 
duties at the cost of the group and
 have such direct access to the resources of the group as it may 
reasonably require including the external and internal auditors
the audit committee’s main responsibilities include the review of 
accounting principles policies and practices adopted in the 
preparation of public financial information review with 
management of procedures relating to financial and capital 
expenditure controls including internal audit plans and reports 
review with external auditors of the scope and results of their audit 
review and approval of the auditors’ fees the nomination of 
auditors for appointment by shareholders and the review of and 
recommendation to the board for approval of rio tinto’s risk 
management policies and processes its responsibilities also include 
the oversight of the whistleblowing programme
governance processes
to ensure the committee discharges its responsibilities it meets 
not less than four times per year and arranges occasional training 
sessions which may cover new legislation and other information 
relevant to the committee’s role the audit committee met seven 
times in 2010 the group’s chairman chief executive chief 
financial officer other senior financial management external  
and internal auditors regularly attend its meetings
the members of the committee are independent and free of  
any relationship that would affect their impartiality in carrying 
out their responsibilities the members meet the independence 
requirements of the uk’s combined code on corporate 
governance “the code” the asx principles the nyse code  
and us legislation and the committee meets the composition 
operation and responsibility requirements of the asx principles 
the committee is also bound by sec requirements for audit 
committees’ financial experts and the code and asx principles 
a  sir david clementi was chair of the audit committee until his retirement on 26 may 2010
b  ann godbehere became a member upon her appointment on 9 february 2010 and  
became chair upon sir david clementi’s retirement 120 rio tinto 2010 annual report
corporate governance continued
key responsibilities
the committee is responsible on behalf of the board for regularly 
assessing the balance of executive and non executive directors and 
the composition of the board in terms of the skills diversity and 
capacity required to ensure it remains relevant and appropriately 
aligned to oversee the delivery of rio tinto’s strategy 
taking into account these factors the committee develops and 
agrees the desired profiles of potential candidates for board 
membership in consultation with external search consultants it 
then oversees a recruitment process to supplement the board’s 
skills or to replace directors as needed the recruitment process 
itself includes identification of suitable candidates followed by a 
formal assessment of each candidate leading to a final selection 
process proposals for new board members are submitted to the 
full board for approval on behalf of the board the committee 
also reviews proposals for senior executive appointments 
monitors executive succession planning and oversees the board’s 
policy on external appointments of executive committee members
governance processes
the committee meets not less than twice a year in 2010 the 
committee met three times
the members of the committee are all independent and free of any 
relationship that would affect their impartiality in carrying out their 
responsibilties the chairman is considered independent under the 
asx principles and the nyse code under the code he is not 
considered independent following his appointment as chairman 
however the code specifically allows the chairman to chair the 
nominations committee the composition of the committee is 
therefore also compliant with the code
key achievements in 2010
during 2010 the committee
 extended the membership of the committee to all non 
executive directors of rio tinto
 following consideration of the overall balance of skills 
knowledge experience and diversity on the board against 
current and future requirements of the group conducted a 
rigorous search and selection process resulting in the 
appointment of ann godbehere and robert brown as non 
executive directors and
 considered the proposed annual reelection of directors taking 
into account the board’s policy on independence and the results 
of the evaluations of the non executive directors
 undertook its annual performance evaluation and reported the 
results to the board 
priorities for 2011
 to review plans formulated for both executive and non 
executive director succession 
 to consider the implications arising from the annual reelection 
of directors including possible revisions to terms of 
appointment and
 to monitor emerging regulation including relating to diversity
jan du plessis chairman
nominations committee report
members
 a
1 jan du plessis – chair
2 robert brown
3 vivienne cox 
4 sir rod eddington
5 michael fitzpatrick
6 yves fortier
7  ann godbehere
8  richard goodmanson 
9  andrew gould
10  lord kerr
11  paul tellier
independence in accordance with both uk and australian 
standards and us legislation and recommended to the board 
that they be proposed for reappointment at the 2010 annual 
general meetings
 appointed a new external audit partner in accordance with the 
policy governing audit partner rotation 
 reviewed the effectiveness of the group’s third party provider of 
internal audit services 
 engaged in training sessions on the governance process 
surrounding ore reserves and mineral resources
 completed its annual performance evaluation and reported the 
results to the board
priorities for 2011
in addition to discharging the responsibilities set out above the 
committee’s priorities for 2011 include
 reviewing the effectiveness of the group’s risk management 
processes
 oversight of the internal audit strategic review
 focusing on training and development particularly in relation 
to new legislation and regulation including the us dodd frank 
act and the uk bribery act 
ann godbehere chairman
a  membership of the nominations committee was extended to all non executive directors  
with effect from 1 january 2010 wwwriotintocom 121
overview performance
production reserves 
and operations governance financial statements additional information
committee on social and environmental accountability
members
 a
1 richard goodmanson – chair
2 robert brown
3 sir rod eddington
4 yves fortier
5 lord kerr
6 vivienne cox
key responsibilities
the committee assists the board to oversee management 
processes standards and strategies designed to manage social 
and environmental risks and achieve compliance with social and 
environmental responsibilities and commitments the committee 
reviews the effectiveness of management policies and procedures 
relating to safety health employment practices relationships 
with neighbouring communities environment human rights 
land access political involvement and sustainable development
governance processes
the committee meets not less than four times a year in 2010 the 
committee met six times the chairman chief executive and 
other senior management regularly attend its meetings
the members of the committee are all independent and free of 
any relationship that would affect their impartiality in carrying 
out their responsibilities 
key achievements in 2010
during 2010 the committee undertook the following activities
 reviewed performance during the year against each of the 
committee’s core areas of activity
 reviewed the adequacy of critical controls and corporate 
culture arising from publicised disasters external to the group 
 assessed the group’s business resilience and corporate recovery 
programme
 reviewed the processes for the management of key operational  
non financial risks in the group
 oversaw the conduct of an independent internal sustainable 
development assurance audit and reviewed the results and 
 undertook its annual performance evaluation and reported the 
results to the board
a  vivienne cox joined the committee on social and environmental accountability on  
30 november 2010
priorities for 2011
 to assess progress towards embedding a zero harm culture 
through the group and its nonmanaged operations
 to continually review the approach to sustainable development 
to ensure it remains focused on the social environmental 
economic and governance risks most relevant to supporting the 
group’s vision and delivering our strategy
 to review work plans formulated for health safety 
environment communities and employment practices
 to consider the implications of emerging legislation and
 to continue to improve the diversity of the group’s workforce
the sustainable development review has been reviewed by the 
committee and approved by the board 
 for more information read page 29 122 rio tinto 2010 annual report
corporate governance continued
chairman’s committee report
members
 
1 jan du plessis – chair
2 tom albanese
3 guy elliott
remuneration committee
members
 a
1 andrew gould – chair
2 michael fitzpatrick
3 richard goodmanson
4 paul tellier
key responsibilities
the remuneration committee assists the board to fulfil its oversight responsibility to shareholders to ensure that remuneration policy 
and practices reward fairly and responsibly and with a clear link to corporate and individual performance
the report of the remuneration committee on pages 128 to 155 has been reviewed by the committee and approved by the board key 
responsibilities governance processes key achievements in 2010 and priorities for 2011 are set out in the report
key responsibilities
the committee acts on behalf of the board between scheduled board meetings either in accordance with authority delegated by the 
board or as specifically set out within its terms of reference it supports the functioning of the board and ensures that the business of 
the board and its committees is properly planned and aligned with management when mandated by the board the chairman’s 
committee will consider urgent matters between board meetings and deal with the implementation of board decisions on transactions 
and other corporate matters other than for the chairman of the board the committee performs the annual review of non executive 
directors’ fees and makes a recommendation to the board as appropriate
jan du plessis chairman
a  sir david clementi was a member of the remuneration committee until his retirement on  
26 may 2010 wwwriotintocom 123
overview performance
production reserves 
and operations governance financial statements additional information
australia and canada forum
an advisory forum has been established in each of australia and 
canada to advise the board and executive management on 
political economic and social developments in those countries 
which could affect the successful development of rio tinto’s 
businesses each forum meets twice annually and is attended by 
the chairman chief executive chief financial officer local 
directors and senior management
management committees 
the chief executive has delegated authority from the board for 
the day to day management of the group’s operations the chief 
executive chief financial officer and the heads of the product and 
global support groups share management responsibility for the 
management of the business
the chief executive is assisted by the work of management 
committees in monitoring performance and delivering rio tinto’s 
strategy the management committees are described below 
executive committee 
the executive committee is responsible under the leadership of 
the chief executive for the day to day management of the 
business setting performance targets and implementation of the 
group’s strategy and direction as determined by the board based 
upon the financial authorities vested in the chief executive by the 
board each member of this committee has delegated financial 
authorities within a clear internal control framework for the 
management of their respective areas the members of the 
committee are the chief executive the chief financial officer the 
five product group chief executives the group executive 
technology  innovation the group executive legal  external 
affairs the group executive people  organisation and the group 
executive business support  operations
other management committees
other management committees have been established to monitor 
performance maintain controls and support the delivery of the 
group’s strategy
investment committee
the purpose of the investment committee is to review proposals  
for major capital decisions to ensure that they accord with the 
strategic objectives established by the board the members of  
the committee are the chief executive chair the chief financial 
officer the group executive technology  innovation and the 
group executive business support  operations
strategy and finance committee
the strategy and finance committee is responsible under the 
leadership of the chief financial officer to review and advise on 
issues that arise in the day to day workings within the functional 
areas of the chief financial officer’s direct reports the members  
of the committee are the chief financial officer the global head 
of planning  reporting the global head of treasury the global 
head of taxation the head of investor relations and the head of 
business development
ore reserves steering committee
the ore reserves steering committee is the primary governance 
body over the ore reserve estimation and disclosure processes  
the members of the committee are the group executive 
technology  innovation chair the global head of planning  
reporting the global practice leader mining technology  
innovation the chief adviser evaluation the chief adviser 
orebody knowledge technology  innovation the chief adviser 
resources and reserves technology  innovation the general 
manager resource development iron ore and the chief 
geologist rio tinto exploration
continuous disclosure committee
the committee is responsible for determining whether information 
relating to rio tinto may require disclosure to the markets under 
the continuous disclosure requirements in the jurisdictions in 
which rio tinto is listed the members of the committee are the 
chief financial officer chair the company secretary of rio tinto 
plc general counsel asia pacific the head of business 
development the head of investor relations and the global 
practice leader media relations
disclosure and procedures committee
the primary role of this committee is to assist the board audit 
committee and individual directors and officers who are required 
under various regulations to endorse the group’s shareholder reports 
and other public documents the members of the committee are  
the company secretary of rio tinto plc chair the global head of 
planning  reporting the head of investor relations the head of 
compliance and the head of corporate assurance
closure committee
this committee oversees the closure management programme  
to manage the significant financial reputational and operational 
risk of site closures the members of the committee are the 
global head of planning  reporting chair the global head of 
health safety environment  communities the group executive 
legal  external affairs the global practice leader communities 
the vice president human resources functions and the group 
executive technology  innovation the activities of the 
committee are supported by a subcommittee to implement the 
closure management programme
risk management committee
the risk management committee assists the executive committee 
and the board in ensuring that robust risk management exists 
across rio tinto the committee ensures that a sufficient level of 
risk analysis is applied to critical decisions and provides assurance 
to the executive committee and the board that risk processes at all 
levels are effective and compliant with overall risk policy
the members of the committee are the chief executive chair 
the chief financial officer the group executive business support 
 operations the group executive technology  innovation the 
group executive people  organisation and the group executive 
legal and external affairs in addition a product group chief 
executive officer attends the committee on a rotating basis
global code of conduct 
rio tinto’s commitment to integrity and compliance is set out  
in the way we work our global code of business conduct and  
one of the group’s most important documents see page 16  
for more information 
the way we work contains principles and standards of conduct 
which reaffirm the group’s commitment to corporate 
responsibility it is inspired by our four core values accountability 
respect teamwork and integrity it is supported by rio tinto’s 
extensive framework of policies and standards 124 rio tinto 2010 annual report
corporate governance continued
core policies are adopted by the board after wide consultation 
externally and within the group once adopted they are 
communicated to business units worldwide together with 
mandatory standards guidance notes and resources to support 
implementation business units are required to devote the 
necessary effort by management to implement and report on 
these policies and standards
rio tinto’s core policies addressed in the way we work include 
access to land business integrity communities corporate 
governance employment environment human rights internal 
controls and reporting occupational health political involvement 
government relations safety sustainable development and 
transparency these are supported by policies in the areas of data 
privacy risk information management and security
each policy is supported by standards and guidance expanding 
on the minimum expectations on topics such as antitrust 
continuous disclosure antibribery compliance cultural heritage 
and health safety and the environment these policies and 
standards apply to all rio tinto managed businesses where the 
group does not have operating responsibility for a business rio 
tinto’s policies are communicated to its business partners and 
they are encouraged to adopt similar policies of their own rio 
tinto employees are required to undertake training about the 
requirements of the way we work and other core policies
“whistleblowing” programme
the board has adopted a whistleblowing programme called 
speakout employees may report concerns including suspicion 
of violations of the group’s financial reporting or environmental 
procedures the speakout programme is independently 
administered confidential and our employees can use this 
programme without fear of recrimination a process has been 
established for the investigation of any matters reported details 
of speakout call activity are set out on page 39
dealing in rio tinto securities
rio tinto has a set of rules which restrict the dealing in rio tinto 
securities by directors and employees with access to “inside 
information” these rules require those people to seek clearance 
from the chairman or the company secretary before any proposed 
dealing to ensure that they do not deal when in possession of 
inside information directors and members of the executive 
committee will not be given clearance during “close periods” 
immediately preceding the announcement of annual and interim 
results the rules prohibit the hedging of unvested options  
the “rules for dealing in rio tinto securities” comply with  
the new requirements of the asx listing rules effective from  
1 january 2011 and can be viewed in the corporate governance 
section of the website
communication
rio tinto recognises the importance of effective timely communication 
with shareholders and the wider investment community
to ensure that trading in its securities takes place in an informed 
market the group has adopted continuous disclosure standards 
which are overseen by the continuous disclosure committee and form 
part of the group’s corporate governance standards see page 123  
rio tinto makes immediate disclosure to the listing authorities  
of any information that a reasonable person would expect to have 
a material effect on its share price in accordance with their rules 
all information released to the markets is posted on the media 
section of the website
in addition to statutory documents rio tinto’s website features in 
depth information on health safety and the environment as well 
as general investor information publications and policies and 
guidance full and half year results as well as any major 
presentations are also webcast presentation material from 
investor seminars is also made available on the website
the annual general meetings present an opportunity to provide a 
summary business presentation to inform shareholders of recent 
developments and to give them the opportunity to ask questions 
generally the chairs of all board committees will be available to 
answer questions raised by shareholders and all directors are 
expected to attend where possible rio tinto’s external auditor 
pricewaterhousecoopers attends the annual general meetings 
and is available to answer questions about the conduct of the 
audit and the preparation and content of the auditor’s report  
any questions received and answers provided are made available 
at that meeting and shareholders have the opportunity to meet 
informally with directors after the meeting
the main channels of communication with the investment 
community are through the chairman chief executive and chief 
financial officer who have regular meetings with the companies’ 
major shareholders the senior independent director chairmen  
of board committees and other non executive directors are also 
available on request the senior independent director has a 
specific responsibility to be available to shareholders who have 
concerns and where contact with the chairman chief executive 
or chief financial officer has failed to resolve their concerns or for 
whom such contact is inappropriate
during 2010 these meetings with the investment community 
focused on the issues of strategy board succession corporate 
governance executive remuneration and the operational and 
financial platform of the group further information on these 
issues is set out on pages 18 120 114 128 and 42 respectively
the group also organises regular investor seminars which  
provide a two way communication opportunity with investors  
and analysts feedback is communicated to the board surveys  
of major shareholders’ opinions and perceptions of the group are 
presented to the board by the group’s investor relations advisers 
on a regular basis wwwriotintocom 125
overview performance
production reserves 
and operations governance financial statements additional information
risk management
rio tinto’s overriding objective is to maximise the return to 
shareholders through a strategy of investing in large long term 
cost competitive mines and businesses the directors recognise 
that creating shareholder return is the reward for taking and 
accepting risk the risks facing shareholders are to some extent 
managed by the group’s diversified portfolio of assets spread 
across multiple geographies currencies and commodities 
a description of some of the principal risks and uncertainties that 
could affect rio tinto are found on pages 25 to 28
risk policy and standard
the board recognises that risk is an integral component of the 
business and that it is characterised by both threat and 
opportunity the group fosters a risk aware corporate culture in 
all decision making and is committed to managing all risk in a 
proactive and effective manner through competent risk 
management to support this commitment risk is analysed in 
order to inform the management decisions taken at all levels 
within the organisation the principles of the risk analysis and 
management process are set out in the risk policy and standard 
which is in the corporate governance section of the website
risk approach
the risk policy and standard is supported by an integrated 
framework of risk governance and reporting specifying how the 
group organises the handling of risk together with the policy  
the framework makes up the rio tinto approach to identifying 
evaluating and managing the material business risks faced by  
the group clear accountability for risk management is defined 
throughout the group and is a key performance area of line 
managers
the responsibility for identifying and managing risks lies with  
rio tinto’s managers and business leaders at all levels but a 
number of specific roles have been defined to support the 
implementation of the framework the top level process has been 
strengthened during 2010 by a review of the group’s approach to 
managing its risk the appointment of a head of group risk to this 
new role and the introduction of a risk management committee 
that reports to the executive committee 
internal controls
the directors are responsible for the group’s system of internal 
controls and for reviewing annually its effectiveness in providing 
shareholders with a return on their investments that is consistent 
with a responsible assessment and management of risks this 
includes reviewing financial operational and compliance controls 
and risk management procedures and their effectiveness the 
directors have completed their annual review and assessment for 
2010 whilst the audit committee is responsible for oversight of the 
effectiveness of the risk management process accountability for 
identifying and managing risks rests with the chief executive and is 
cascaded throughout the group through the executive committee
internal risk control systems
two of the group’s management committees the executive 
committee and the disclosures and procedures committee regularly 
review reports related to the group’s control framework in order to 
satisfy the internal control requirements of the code the asx 
principles the nyse code and us legislation each year the leaders 
of the group’s businesses and administrative offices complete an 
internal control questionnaire that seeks to confirm that adequate 
internal controls are in place are operating effectively and are 
designed to capture and evaluate failings and weaknesses if any 
exist and that action is taken promptly as appropriate the results 
of the internal control evaluation are presented to the audit 
committee in support of their review of the group’s internal 
controls assurance functions including internal auditors and 
sustainable development auditors perform reviews of the integrity 
and effectiveness of control activities and provide regular written 
and oral reports to the audit committee committee on social and 
environmental accountability and management committees
in 2010 information was reported by management to the audit 
committee to enable it to assess the effectiveness of the internal 
controls and the management of material business risks in 
addition as part of their role the board and its committees 
routinely monitor the group’s material business risks 
due to the limitations inherent in any risk management system 
the process for identifying evaluating and managing the material 
business risks is designed to manage rather than eliminate risk 
and to provide reasonable but not absolute assurance against 
material misstatement or loss certain risks for example natural 
disasters cannot be managed to an acceptable degree using 
internal controls such major risks are transferred to third parties 
in the international insurance markets to the extent considered 
appropriate the group has material investments in a number of 
jointly controlled entities and associates where rio tinto does 
not have managerial control it cannot guarantee that local 
management of mining and related assets will comply with  
rio tinto standards or objectives accordingly the review of their 
internal controls is less comprehensive than that of the group’s 
managed operations
auditors and internal assurance
auditor independence
as indicated in the report of the audit committee on pages 119  
to 120 rio tinto has adopted policies designed to uphold the 
independence of the group’s principal external auditors by 
prohibiting their engagement to provide other accounting and 
other professional services that might compromise their 
appointment as independent auditors
the engagement of the group’s principal auditors to provide 
statutory audit services other services pursuant to legislation 
taxation services and certain other services are preapproved any 
engagement of the group’s principal auditors to provide other 
permitted services is subject to the specific approval of the audit 
committee or its chairman 126 rio tinto 2010 annual report
corporate governance continued
prior to the commencement of each financial year the group’s 
chief financial officer and its principal auditors submit to the 
audit committee a schedule of the types of services that are 
expected to be performed during the following year for its 
approval the audit committee may impose a financial limit on 
the total value of other permitted services that can be provided 
any non audit service provided by the group’s principal auditors 
where the expected fee exceeds a predetermined level must be 
subject to the group’s normal tender procedures
in exceptional circumstances the chief financial officer is 
authorised to engage the group’s principal auditors to provide 
such services without going to tender but if the fees are expected 
to exceed certain predetermined limits then the chairman of the 
audit committee must give prior approval of the engagement
further information on audit and non audit fees as well as 
remuneration payable to other accounting firms is set out in note 
43 to the financial statements
pricewaterhousecoopers have been the group’s auditors for  
a number of years each year the committee reviews the 
effectiveness of the external audit process and the independence 
of the auditors based upon its 2010 review the committee  
was satisfied with the external audit process that was conducted 
and that the independence of the auditors was in no way 
compromised the committee does not consider it necessary to 
undertake a tender process for the auditors in accordance with 
rotation rules the principal auditors’ engagement partners will 
rotate every five years the uk audit partner will rotate at the  
end of the 2010 audit and the australian audit partner is due  
to rotate at the end of the 2011 audit
corporate assurance
the corporate assurance function provides independent and 
objective assurance on the adequacy and effectiveness of the 
group’s systems for risk management internal control and 
governance together with recommendations to improve the 
efficiency and effectiveness of the relevant systems and processes 
the function has adopted international auditing standards set by 
the institute of internal auditors iia
the function operates independently of management under a 
mandate approved by the audit committee and the committee on 
social and environmental accountability csea and has full 
access to all functions records property and personnel of the 
group the head of corporate assurance reports functionally to 
both the audit committee and csea providing each committee 
with information relevant to their specific terms of reference
a risk based approach is used to focus assurance activities on high 
risk areas and audit plans are presented annually to the audit 
committee and csea for approval
in respect of its internal audit function rio tinto utilises the 
services of external service providers the audit committee has a 
policy which addresses conflicts of interest in relation to 
management requested engagements of the service provider the 
policy complies with the iia’s standards on independence certain 
services are preapproved under the policy as they would not be in 
conflict with the internal auditor’s role there is a list of prohibited 
services which may not be undertaken without approval of the 
head of corporate assurance and guidance on the consideration  
of services which may give rise to a conflict of interest
financial reporting
financial statements
the directors are required to prepare financial statements  
for each financial period which give a true and fair view of the 
state of affairs of the group as at the end of the financial period 
and of the profit or loss and cash flows for that period this 
includes preparing financial statements in accordance with uk 
company law which give a true and fair view of the state of the 
company’s affairs and preparing a remuneration report which 
includes the information required by regulation 11 schedule 8  
of the large and medium sized companies and groups  
accounts and reports regulations 2008 and the australian 
corporations act 2001
the directors are responsible for maintaining proper accounting 
records in accordance with the uk companies act 2006 and  
the australian corporations act 2001 they have a general 
responsibility for taking such steps as are reasonably open to  
them to safeguard the assets of the group and to prevent and 
detect fraud and other irregularities the directors are also 
responsible for ensuring that appropriate systems are in place  
to maintain and preserve the integrity of the group’s website 
legislation in the uk governing the preparation and 
dissemination of financial statements may differ from current and 
future legislation in other jurisdictions the work carried out by 
the auditors does not involve consideration of such developments 
and accordingly the auditors accept no responsibility for any 
changes should any be made to the financial statements after 
they are made available on the website
the directors senior executives senior financial managers and other 
members of staff who are required to exercise judgment in the course 
of the preparation of the financial statements are required to conduct 
themselves with integrity and honesty and in accordance with the 
ethical standards of their profession andor business
the directors consider that the 2010 annual report presents a  
true and fair view and has been prepared in accordance with 
applicable accounting standards using the most appropriate 
accounting policies for rio tinto’s business and supported by 
reasonable judgments and estimates the accounting policies 
have been consistently applied the directors have received  
a written statement from the chief executive and the chief 
financial officer to this effect in accordance with the internal 
control requirements of the code and the asx principles 
recommendation 73 this written statement relies on a sound 
system of risk management and internal controls and confirms 
that the system is operating effectively in all material respects  
in relation to financial reporting risks
disclosure controls and procedures
the group maintains disclosure controls and procedures as such 
term is defined in exchange act rule 13a15e management 
with the participation of the chief executive and chief financial 
officer has evaluated the effectiveness of the design and 
operation of the group’s disclosure controls and procedures 
pursuant to exchange act rule 13a15b as of the end of the 
period covered by this report and has concluded that these 
disclosure controls and procedures were effective at a reasonable 
assurance level wwwriotintocom 127
overview performance
production reserves 
and operations governance financial statements additional information
management’s report on internal control over  
financial reporting
the common management of each of rio tinto plc and rio tinto 
limited is responsible for establishing and maintaining adequate 
internal control over financial reporting the companies’ internal 
control over financial reporting is a process designed under the 
supervision of their common chief executive and finance officer 
to provide reasonable assurance regarding the reliability of 
financial reporting and the preparation and fair presentation of 
the group’s published financial statements for external reporting 
purposes in accordance with ifrs
because of its inherent limitations internal control over financial 
reporting cannot provide absolute assurance and may not prevent 
or detect all misstatements whether caused by error or fraud if 
any within each of rio tinto plc and rio tinto limited
the group’s internal control over financial reporting includes 
policies and procedures that pertain to the maintenance of 
records that in reasonable detail accurately and fairly reflect 
transactions and dispositions of assets provide reasonable 
assurances that transactions are recorded as necessary to permit 
preparation of financial statements in accordance with ifrs and 
that receipts and expenditures are being made only in accordance 
with authorisations of management and directors of each of the 
companies and provide reasonable assurance regarding 
prevention or timely detection of unauthorised acquisition use or 
disposition of the group’s assets that could have a material effect 
on our financial statements
management conducted an assessment of the effectiveness of 
internal control over financial reporting as of 31 december 2010 
based on the internal control – integrated framework issued by 
the committee of sponsoring organizations of the treadway 
commission coso and concluded that it was effective
there were no changes in the internal controls over financial 
reporting that occurred during the period that have materially 
affected or are reasonably likely to materially affect the internal 
controls over financial reporting of each of rio tinto plc and  
rio tinto limited
statement of compliance with 
governance codes and standards in 2010
in compiling this report the directors have referred to the combined 
code on corporate governance published by the uk financial 
reporting council the code the australian securities exchange 
asx corporate governance principles and recommendations 2nd 
edition the asx principles and the new york stock exchange 
nyse corporate governance standards the nyse standards 
in accordance with the listing rules of the uk listing authority and 
the asx rio tinto confirms that throughout 2010 and at the date of 
this document the group applied the principles of and was compliant 
with the provisions of section 1 of the code and was also fully 
compliant with the asx principles 
rio tinto plc as a foreign issuer with american depositary shares 
listed on the nyse is obliged by the nyse standards to disclose any 
significant ways in which its practices of corporate governance differ 
from the nyse standards
the company has reviewed the nyse standards and believes that its 
practices are broadly consistent with them with one exception the 
nyse standards state that companies must have a nominating
corporate governance committee composed entirely of independent 
directors with written terms of reference which in addition to 
identifying individuals qualified to become board members develops 
and recommends to the board a set of corporate governance 
principles applicable to the company
rio tinto has a nominations committee information about which is 
set out on page 120 this committee does not develop corporate 
governance principles for the board’s approval the board itself 
performs this task and approves the group’s overall system of 
governance and internal controls
rio tinto’s website contains further information about the corporate 
governance framework  128 rio tinto 2010 annual report
remuneration report  
 
 
about the report and committee 
this report explains the roles responsibilities and activities of  
the remuneration committee and includes detailed disclosures  
on director and executive remuneration it outlines how rio tinto 
ensures that its people are appropriately focused on driving continuous 
sustainable improvements in performance to maximise total 
shareholder return by sustainably finding developing mining  
and processing natural resources in order to achieve our vision of 
becoming the sector leading global mining and metals company 
following the outcome of the shareholder vote on the remuneration 
report at the 2010 annual general meetings the chairman led a 
consultation process with a range of shareholders to more fully 
understand any concerns that they have with the group’s executive 
remuneration policy and practice and to discuss the committee’s 
review of the group’s long term incentive plans ltips the feedback 
provided was discussed by the committee and has been taken into 
account in further developing the executive remuneration policy 
during 2010 the committee conducted a detailed review of its 
competitive benchmarking policy for members of the executive 
committee the conclusions are set out below and have informed  
the remuneration decisions made by the committee for the executive 
committee the committee is proposing to review the ltips and 
commence a further round of consultation with shareholders on  
the form of any new plans before the plans expire in 2014 
based upon the support expressed by shareholders during the earlier 
consultation exercise the committee is recommending to shareholders 
for approval at the 2011 annual general meetings amendments to the 
ltips to mitigate any unintended consequences from recent legislative 
changes in australia to ensure that australian participants are not 
adversely impacted by the change in tax treatment of share options in 
australia the committee has concluded that certain amendments are 
required to the rules of the group’s performance share plan psp 
formerly the mining companies comparative plan mccp the 
proposed changes mean that participants in the performance share 
plan and share option plan will be given the opportunity to express 
their preference as to whether they receive their entire award in the 
form of performance shares as opposed to the current mix of 
performance shares and performance options in order to implement 
these changes a resolution to amend the rules of the psp is being 
submitted to shareholders for approval at the 2011 annual general 
meetings the notices of meeting for the 2011 annual general meetings 
contain further detailed information 
this report has been drawn up in accordance with applicable legislation 
and corporate governance guidance in the uk and australia which are 
the uk combined code on corporate governance schedule 8 of the 
large and medium sized companies and groups accounts and 
reports regulations 2008 the uk listing authority listing rules the 
australian corporations act 2001and principle 8 of the revised australian 
securities exchange corporate governance principles and 
recommendations 2nd edition the asx principles 
australian legislation requires disclosures in respect of “key 
management personnel” being those persons having authority and 
responsibility for planning directing and controlling the activities of 
the group including the directors for the purposes of this report the 
committee has determined that the key management personnel are 
in addition to the directors members of the executive committee  
the executive committee comprises the executive directors product 
group chief executive officers pgceos and group executives 
throughout this report the members of the executive committee 
including the executive directors are collectively referred to as  
“executives” the executives are listed on page 139 together with  
the positions held during the year and dates of appointment 
australian legislation further requires disclosures in respect of the  
five highest paid executives below board level selected from the 
senior managers who make or participate in making decisions that 
affect the whole or a substantial part of the business of the group  
or have the capacity to significantly affect the group’s financial 
standing the committee has determined that below board level only 
members of the executive committee constitute the group of senior 
managers that make decisions that affect the whole or a substantial 
part of the business of the group 
in addition to executive remuneration this report covers the chairman’s 
and the nonexecutive directors’ remuneration see page 140 
remuneration committee responsibilities 
the committee’s role is to ensure that remuneration policy and 
practices reward employees fairly and responsibly with a clear link to 
corporate and individual performance and are aligned with shareholders’ 
interests in maximising shareholder return the committee’s 
responsibilities are set out in its terms of reference which are available 
in the corporate governance section of the rio tinto website  
these responsibilities include 
 

Summary:
 2 rio tinto 2010 annual report
strong financial performance
 record underlying earnings of us140 billion 122 per cent above 2009
 record cash flows from operations of us235 billion up 70 per cent
 record underlying ebitda of us260 billion up 82 per cent on 2009
 net debt decreased from us189 billion to us43 billion at the end  
of 2010
exceptional operational delivery 
 18 per cent decrease in all injury frequency rate from 2009
 production at or above capacity at many operations
 record annual production of iron ore
 annual hard coking coal production up 20 per cent on 2009
 bauxite production up nine per cent
growth potential across the business
 us11 billion of major capital approvals in 2010 with  
us13 billion of capital expenditure expected in 2011
 us56 billion committed in 2010 on pilbara expansion  
100 per cent basis to grow production by more than 50 per cent
 the oyu tolgoi coppergold project came under rio tinto’s 
management with a pathway to increase ownership of  
ivanhoe mines ltd to 49 per cent
 us1 billion approved to modernise hydropower based  
aluminium portfolio in canada
continuing progress on sustainable development
 reduced greenhouse gas ghg emissions intensity by 37 per cent  
from 2008
 43 per cent decrease in the rate of new cases of occupational illness 
from 2009
 community contributions of us166 million up 40 per cent on 2009
dividend
dividend declared 2010 2009 2008 2007 2006
us cents 10800 4500 11122 11123 8507
uk pence 6735 2884 6749 5620 4422
australian cents 11121 5156 14622 12572 11069
notes
   all references in this report to net earnings and underlying earnings relate to profit attributable to equity 
shareholders of rio tinto underlying earnings is defined below and is reconciled to net earnings on page 182 
ebitda is earnings before interest taxes depreciation and amortisation underlying ebitda excludes the same 
items that are excluded from underlying earnings ebitda and underlying ebitda are reconciled to the income 
statement in the “financial information by business unit” section of the financial statements
notes to pages 2 and 3
a  the accounting information in these charts is based on eu ifrs accounting information
b  underlying earnings is the key financial performance indicator which management uses internally to assess 
performance it is presented here as an additional measure of earnings to provide greater understanding of 
the underlying business performance of the group’s operations items excluded from net earnings to arrive at 
underlying earnings are explained in note 2 to the 2010 financial statements both net earnings and underlying 
earnings deal with amounts attributable to owners of rio tinto however eu ifrs requires that the profit for the 
year reported in the income statement should also include earnings attributable to noncontrolling interests  
in subsidiaries
performance highlights
record financial and operational performance
underlying earnings 
a b 
us millions
 kpi see page 22
 more information see page 250
 
us millions
 
 
net debt 
a
us millions
 
 
kpi see page 22
more information see page 199
kpi see page 22
more information see page 252
capital expenditure 
a
 
2006 2007 2008 2009 2010
7338
7443
6298
13987
10303
2006 2007 2008 2009 2010
2437
45191
18861
4284
38672
2006 2007 2008 2009 2010
3988
4968
5356
4553
8488 wwwriotintocom 3
overview performance
production reserves 
and operations governance financial statements additional information
all injury frequency rate
per 200000 hours worked
 including former alcan
 
kpi see page 22
 
more information see page 31
gross sales revenue 
a
 
us millions
  share of equity accounted units sales revenue
 consolidated sales revenue
 more information see page 250
us millions
 
new cases of occupational illness
per 10000 employees
 including former alcan
 
ghg emissions intensity
indexed relative to 2008
 including former alcan
 
 
us cents
 
us millions
  dividends from equity accounted units 
cash flow from consolidated operations
 
kpi see page 22
us millions
 more information see page 157
total shareholder return

 kpi see page 22
operating cash flows 
a 
profit for the year 
a 
more information see page 250 more information see page 188 more information see page 32
kpi see page 22
more information see page 34
underlying ebitda 
a
 underlying earnings per share 
a b
 
2006 2007 2008 2009 2010
9196
10923
10805
12569
13224
13834
23530
22126
19195
20668
2006 2007 2008 2009 2010
7867
7746
5335
15184
4609
2006 2007 2008 2009 2010
109
081
066
095
121
2006 2007 2008 2009 2010
22465
25440
29700
33518
41825
44036
56576
54264
58065
2006 2007 2008 2009 2010
74
928
1728
326
715
2006 2007 2008 2009 2010
1109
925
963
1000
1102
1113
2006 2007 2008 2009 2010
12524
13920
14312
25978
22317
2006 2007 2008 2009 2010
4501
4732
3571
7133
6562
2006 2007 2008 2009 2010
36
22
38
22
47
60323