Iron ore exploration target at Corumba, Brazil

An exploration target has been identified at Rio Tinto's Corumbá iron ore mine.
Exploration Target Tonnage Range (millions) %Fe %AI2O3 %P %SiO2
Corumbá Jaspilite 8,000 to 10,000 52-55

0.4-0.5
0.04-0.06 17-22

The exploration target consists of a large deposit of banded iron formation, locally known as "jaspilite", directly beneath the Corumbá open cut mining operation. Corumbá currently produces approximately 2 million tonnes per annum of high grade lump product from the enriched capping on top of the jaspilite.

Location and Title

The Corumbá operation is 100% owned by Rio Tinto and is close to the border with Bolivia, approximately 1,500 kilometres from the coast of Brazil.
Summary of Exploration Results

The exploration target is based on 18 diamond and reverse circulation drill holes to 100m vertical depth, 256 reverse circulation holes to between 30 and 70 metres depth, surface pits and detailed geological mapping. Over 1,500 samples have been analysed. Three deeper diamond drill holes confirm that the jaspilite exceeds 300 metres in thickness. The tonnage potential is fully enclosed by mining leases owned by Rio Tinto.

Laboratory test work indicates that the jaspilite can be upgraded by simple crushing, screening and density separation methods. The concentrate grade ranges from 60 to 62%Fe, 0.4-0.5%Al2O3, 0.04-0.06%P and 9-12%SiO2 with a granulometry similar to sinter fines. If the laboratory tests can be replicated at a production scale, the concentrate has potential for use as a separate product or for blending with high-alumina ores worldwide

3 D model showing "jaspilite" Exploration Target

The exploration target being reported under Section 18 of the JORC Code is based on assessments of prospects within Rio Tinto's Corumbá project mine concessions which are supported by drilling, geophysics, sampling, detailed geological mapping and modelling undertaken over the last ten years. However, the potential quantity and grade is conceptual in nature with insufficient exploration to define a Mineral Resource and it is uncertain if further studies will result in a Mineral Resource.

CP Statement

The information in this presentation that relates to Exploration Results is based on information compiled by João Carlos Möller who has extensive experience in valuations of iron ore operations in Brazil and has been a member of The Australian Institute of Mining and Metallurgy (AusIMM) since 1998. João Carlos Möller is a full-time consultant for Rio Tinto and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. João Carlos Möller consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears.