Rio Tinto Cesco Conference 2013

Rio Tinto CopperJean-Sebastien Jacques, CEO

Copper Group

CESCO Conference, April 2013

Cautionary statement

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

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

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Contents

� Mega trends

� Copper industry – Opportunities & Challenges

� Rio Tinto Copper strategic approach


Mega trends shaping the Copper industry

Rise of China & emerging

markets

Environmental awareness &

need for energy

efficiency

Structurally higher costs in a resource constrained

world

Social-political risks


Source: Wood Mackenzie

2000 2012 2024

Mature markets

Other Emerging Markets

China

Drivers of growth

1

2

3

4

5

Continued rise of China

Development of other large

Emerging markets (India, SEA)

Changing fuel mix towards non-

traditional energy sources

Increased energy efficiency and

safety requirements

Substitution, mainly

Aluminium (negative)

77% of demand will be in Emerging Markets

+44% (11Mt)

Copper semis demand (Mt)

+28% (6Mt)

35% of demand in Emerging Markets

Emerging market growth will create an additional 11Mtpa of demand by 2024


2000 2012 2024

Riskier regions

Location of copper supply

Higher risk

Medium risk

Lower risk

Declining grades

0.8%

1.0%

1.2%

1.4%

2000 2012 2024

Head grade treated (% Cu)Forecast

High disruptions

Annual disruption (% of planned production)

-4%

0%

4%

8%

12%

2000 2002 2004 2006 2008 2010 2012

Greater depth

1980s 1990s 2000s

Indicative depth of major discoveries

Exposed

Covered

Blind

Source: Wood Mackenzie, RT Copper analysis

Meanwhile supply will become more challenging


0

2

4

6

8

10

12

14

16

18

2000 2012 2024

Forecast production of mines operating in 2012 excluding brownfield expansions (Mt)

Forecast production at currently operating mines

~4Mt of new annual capacity is required to stand still

Source: Wood Mackenzie

Structural and input cost drivers

1

2

3

4

Declining ore grades

Greater depth

Increasing ore hardness

Rising labour cost

5 Increasing energy cost

Significant investment required and structurally higher costs


Copper industry opportunities & challenges

Opportunities Challenges

Safety risks, associated with increased depth

Costs performance & project delivery

Social-political risks, incl. licence to operate

1

2

3

Investment environment

4

Resources & talent development

5

(Short term)


World class safety culture

Critical control monitoring plans – strong focus on fatality prevention programs

Material process safety risks – risk elimination through safe design & strong risk management framework

World class underground safety standards

Block Caving Knowledge Centre – Simulation technology to develop stronger underground expertise in a risk free environment

Developing a world class safety culture1


Copper NuWave™ (ore sorting technology)

Rio Tinto Block Cave Knowledge Centre Heap Leaching technology

Tunnel Boring Machine

• Plant constructed and pilot underway

• Upgrade marginal ore

and waste• More efficiently uses

concentrator capacity

• Commissioning at Northparkes Mine

• Potential to reduce Underground construction times by

~40% due to being more effective than drill and blast methods

• Northparkes Minecentre opened August 2012

• Partnership with University of NSW

• State of the art learning technology

• Safe learning environment that reduce safety risks & improve productivity

• Linking ore body knowledge with selective leaching

• Maximise mineral recovery

• Technology being developed for La Granja project (test facility at KUC)

Technology & innovation drives productivity gains and reduces capital requirements

2


Becoming a partner of choice to drive licence to operate

• Climate change and energy

• Land

• Biodiversity

• Water

• Safety

• Health

• Our people

• Communities and regional development

Social

wellbeing

• Financial performance

• Suppliers

• Product stewardship

• Non-managed operations and projects

Economic

prosperity

• Business integrity

• Human rights

• Business resilience & recovery

• Stakeholder engagement

• Closure and legacy

Strong

governance

Environmental

stewardship

3


• Collaborate with

communities on issues of

mutual interest: health,

education, economic

opportunities, security,

water

• Leverage existing funding

and services for local

benefit

• 80% of the workforce in

project field services is

from local communities

• Working with 65 local

suppliers

• Focus on "employability”

using broad-based skills

training

Employment & Economic

Development

Partnerships for Regional

Development

• Dialogue process

underway with

communities to develop

framework and criteria for

permanent land access

• Transparent, equitable and

built for successful

livelihood transitions

Land Access

La Granja project example - Peru3


Grasberg – Block cave & DMLZ

(240ktpd of mill throughput)(1st quartile)

Source: Wood Mackenzie (2013 C1 cost curve position; projects average cost at full capacity)

Resolution600ktpa Cu(1st quartile)

Oyu Tolgoi425ktpa Cu; 460kozpa Au

(1st quartile)

La Granja500ktpa Cu

(2nd quartile)

Kennecott Utah CopperSouth wall pushback & underground options

beyond 2050 (1stquartile)

Brownfield

Greenfield

Escondida1.3mtpa Cu (3rd quartile)

Long term investment strategy is focused on tier 1 assets – large, long life, low cost assets

4


Example of the development strategy for a tier 1 asset – Oyu Tolgoi

4

2016


• World class safety standards & culture• Technology drive

Safety

• Operational excellence• Technology drive

Costs performance & project delivery

• Be a Partner of Choice with local communities & Governments

Social-political risks

• Capital prioritisation – Tier 1 assets• Phased & structured developments

Investment environment

• Global talent pool• Investment in workforce of developing

countriesResourcing

Rio Tinto Copper Strategic Approach


THANK YOU

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