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

Registered in Australia Rio Tinto Limited 120 Collins Street Melbourne 3000 Australia ABN 96 004 458 404

ASX Market Announcements Australian Securities Exchange SYDNEY NSW 2000

9 February 2012

Dear Sir, Attached is the Rio Tinto 2011 full year results presentation given today by Jan du Plessis, chairman, Tom Albanese, chief executive, and Guy Elliott, chief financial officer. Yours faithfully, Stephen Consedine Company Secretary

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2011 full year results

1

9 February 2012

©2011, Rio Tinto, All Rights Reserved

Cautionary statement

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

Forward-looking 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 industryresults, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

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

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

2©2011, Rio Tinto, All Rights Reserved

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Injury frequency rates 2002 – 2011Per 200,000 hours worked

3

Continued improvements in safety

0

0.5

1

1.5

2

2.5

’02 ’03 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11

Lost time injuryfrequency rate

All injuryfrequency rate


2011 highlights

• Record underlying earnings, EBITDA and cash flows from operations− Higher prices, stronger currencies and input cost pressures− Record iron ore volumes; grade and weather challenges elsewhere

• Net earnings reduced by aluminium impairments

• Organic growth programme continues to ramp up

• Acquisitions completed creating further growth options

• Progressive dividend increased by 34%; $7 billion share buy-back almost complete

4

$ billions 2010 2011 Movement

Underlying EBITDA 26.0 28.5 +10%

Underlying earnings 14.0 15.5 +11%

Net earnings 14.2 5.8 -59%

Cash flows from operations 23.5 27.4 +16%

Capital expenditure 4.6 12.3 +169%

Dividend per share 108 cents 145 cents +34%


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• Record prices during the year, with all product sold

• Production and shipment records achieved in the Pilbara, despite severe weather in Q1 2011

• Continued evolution of sales contract portfolio

• Incremental debottlenecking achieved on time and budget

• Maximised concentrate production at IOC in late 2011 in response to market demand

Iron ore underlying resultsUS$ billions

5

Iron ore: record production, shipmentsand earnings

0

5

10

15

20

25

2007 2008 2009 2010 2011

Underlying EBITDA Underlying earnings


• Capital expenditure on time and on local currency budget

− Next 5mt due Q1 2012 will increase Pilbara capacity to 230Mt/a

− 283Mt/a expansion fully approved

− 353Mt/a accelerated to first half 2015

• Pilbara mineralisation to last over 50 years even on elevated production volumes

• IOC concentrate expansion currently being commissioned

• Solid progress at Simandou

Global iron ore growth options without equal6

Cape Lambert construction, Australia


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• Estimated 2.5mt of production ex-China is loss making at current prices

• Chinese capacity growth in the west

• Industry margins impacted by lower prices and higher input costs for raw materials

• EBITDA margin of 20% in 2011

Rio Tinto Alcan underlying resultsUS$ billions

7

Rio Tinto Alcan: second half margin squeeze

-1

0

1

2

3

4

2007 2008 2009 2010 2011


2009 OnwardsExcludes Pacific Aluminium, Lynemouth, Sebree, Gardannerefinery, and European specialty alumina


• Disciplined portfolio management

• Deliver cost and productivity improvements

• Focus on high return production creep and modernisation projects

• Focused strategy will reshape the aluminium business− Best bauxite and energy positions

in the aluminium industry− Lowest carbon footprint− Modern, large-scale, long-life

assets− First and second quartile positions

on the industry cost curve− Leading AP Technology position

Rio Tinto Alcan: strategic focus on transforming the aluminium business

8

Kitimat smelter, Canada

Yarwun refinery, Australia


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• Copper market finely balanced and highly sensitive to supply disruptions

• Lower volumes in 2011 from anticipated dip in grades at all three major operations

• Recovery in copper production expected from second half of 2012

• Gold and moly expected to be lower in 2012, recovering from 2013

• Palabora divestment process underway

Copper underlying resultsUS$ billions

9

Copper: recovery of copper grades expected in second half of 2012

0

1

2

3

4

5

6

2007 2008 2009 2010 2011



Oyu Tolgoi, Mongolia

• Oyu Tolgoi progresses

− Project 70% complete

− Power remains the critical path item

− Majority ownership of Ivanhoe secured

• La Granja pre-feasibility funding

• KUC extension feasibility study

• Escondida growth options

• Resolution land exchange

Investment in copper projects continues10

Resolution, US


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0

1

2

3

4

2007 2008 2009 2010 2011


• Coal prices were volatile with global disruptions to supply and demand

• Coal and uranium operations in Australia were impacted by significant wet weather in late 2010 / early 2011

• Privatisation of Coal & Allied in partnership with Mitsubishi

• ERA equity rights issue completed

• Rössing grades to improve

Energy underlying resultsUS$ billions

11

*2008 underlying EBITDA and earnings include $0.5 billion (pre and post-tax) profit on disposal from Kintyre.2010 includes $0.4 billion (pre-tax) and $0.2 billion (post-tax) profit on disposal from Maules Creek and Vickery

Energy: recovery from significant weather events in Australia


• Australian growth options supported by improving coal chain capacity

• Successfully completed acquisitions of Riversdale in Mozambique and Hathor in Canada

− First coal from Benga in first half 2012

− Long term mine and infrastructure studies are ongoing

− Hathor: an emerging high grade resource

Significant growth options across the Energy group

12

Mount Thorley Warkworth, Australia


Benga, Mozambique

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• Supply tightness in TiO2, sustained pricing for borates, diamond long term fundamentals remain strong

• Recovery in diamond production following floods at Argyle

• Additional $0.5bn capital approval for underground: delays from record wet season and stronger A$

• Steady growth in TiO2 earnings: long term contracts continue to unwind

• Signed potash JV, progressed lithium-borate project and sold talc

• Doubling stake in RBM to 74%

Diamonds and Minerals underlying resultsUS$ billions

13

Diamonds and Minerals: supply tightness reflected in price momentum

*2009 underlying EBITDA and earnings include $0.8 billion (pre andpost-tax) profit on disposal of undeveloped potash properties

0.0

0.2

0.4

0.6

0.8

1.0

1.2

1.4

2007 2008 2009* 2010 2011



Guy Elliott

14

Chief financial officer


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5,000

10,000

15,000

20,000

25,000

13,9872010

underlyingearnings

6,675Price

(998)Exchange

Rates

(502)Volume

(376)Inflation

(249)Energy

(2,096)Cash costs

(796)Explor'n &

Eval'n

(96)Interest, Tax

& Other

15,5492011

underlyingearnings

Underlying earnings 2010 vs 2011$ millions

15

Record underlying earnings

Note: Exploration and evaluation variance includes $229 million decreasedue to gain on undeveloped property sales realised in 2010


0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

15,549Underlyingearnings

(9,290)Impairment

charges

167Profits on disposal

of businesses

(57)Net exchange &derivatives loss

(342)Deferred tax asset

write off

(201)Other

5,826Net earnings

Reconciliation of underlying to net earnings$ millions

16

Net earnings reduced by impairment©2011, Rio Tinto, All Rights Reserved

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Input prices and

other inflation$514 M

Weather related volume$261 M

Grade related volume$445 M

Site transition

and readiness

$546 M

Other production and one-

offs$330 M

• Cost efficiency adversely impacted by lower grades in copper and diamonds

• Input price pressure, notably in aluminium

• Maintenance costs and volumes affected by weather in the first half

• Increasing labour costs

• Investments in operational readiness and ramp up of production at new operations

• Ongoing focus on productivity improvement

Breakdown of cash cost variance$ millions

17

Cash cost performance was driven by rising input prices, lower grades and weather events


2011 Cash flowsUS$ billions

18

Record cash flow generation

Cash flows from operationsUS$ billions

0

5

10

15

20

25

02 03 04 05 06 07 08 09 10 11

Dividends from EAUs

Cash flows from consolidated operations

0

5

10

15

20

25

30

35

40

Inflow Outflow

Increase innet debt and other inflows: $7.1bn

Cash flow from operations: $27.4bn

Other: ($1.6bn)Net interest ($0.6bn)

Tax: ($6.2bn)

Buy-back: ($5.5bn)

Acquisitions:($6.1bn)

Capex: ($12.3bn)

Dividends: ($2.2bn)


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0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

18.0

2008 2009 2010 2011 2012

Sustaining Pilbara sustaining Approved growth Other

• $16 billion capital expenditure approved for 2012

• Further project approvals, mainly in the Pilbara, are likely to increase 2012 spend

• Disciplined capital approval process

• Major projects progressing well

• Allocating cash for investment through cycle

• Phased approach to major capital projects

Capital expenditureUS$ billions

19

Capital expenditure focused on the highest quality options


Australia Canada

United States Mongolia

Other

2012 Capital expenditure by countryPer cent of total spend

20

Capital expenditure diversified across geographies and products

Iron ore Copper

Aluminium Energy

Diamonds & Minerals Other

2012 Capital expenditure by productPer cent of total spend

Excludes equity accounted units Excludes equity accounted units


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0

200

400

600

800

1000

Announced for 2011-13 Completed by Q4 2011

• Shortage of specialist mining skills

• New tier one ore bodies are in remote locations

• Technical challenges increasing

• Rising resource nationalism

• Reduced availability of project finance

• A risk to new supply of all commodities

Announced and completed iron ore production capacity(global)(million tonnes)

21

Challenges of bringing on new supply

Source: UNCTAD, Rio Tinto analysis

0

200

400

600

800

1000

Announced for 2008-10 Completed by Q4 2010

Certain Probable Possible Rio Tinto Other


Balancing growth with returns to shareholders

• Strong balance sheet and regained single A credit rating

• More than $33 billion of major capital projects underway

• A rich portfolio of unapproved project options

• $7 billion share buy-back almost complete

• Progressive dividend provides sustainable long term returns to shareholders

• 34% dividend increase reflecting confidence in long term prospects

22

Capital returns

Progressive dividend

increased by 34%

Prudentbalance

sheetmanagement

SingleA creditrating

Investmentin valueaddinggrowth

>$16 billionof value adding investments in

2012

Cash from operations


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Tom Albanese

23

Chief executive


• Higher average prices in 2011 but finished year lower than started

• Macroeconomic outlook volatilein the near term

• Eurozone risks remain high

• Chinese GDP to grow by >8% in 2012

• Physical demand remains resilient for most products

• Short term constraints continueto disrupt supply

Commodity market pricesDaily spot index (1 January 2010=100)

24

Short term outlook expected to remain volatile

Source: LME, SBB, Metal Bulletin, Reuters Ecowin, globalCOAL


$2,209/t

$3.87/lb

Prices at 3 Feb 2012

$98/bbl$137/t

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Demand for metals increasesin line with increasing income

25

Our belief in the long term demandstory is unchanged

0

5000

10000

15000

20000

25000

30000

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

Probable - Greenfield Probable - Brownfield

Highly Probable Base Case

Demand

Global copper supply vs. demand outlook1

(Mine output, kt Cu)

Source: Global Insight for population distribution; Rio Tinto estimates for commodity expenditure profiles. Note: Expenditure profiles are based on Rio Tinto estimates of global income and consumption relationships and average real terms prices between 1990 – 2006. Iron ore and hard coking coal expenditure calculated based on crude steel demand projections, assuming all met by blast furnace production at historic average export prices.

1. Brook Hunt – A Wood Mackenzie Company. Assume 100% Base Case and Highly Probable, 70% Probable – Brownfield and 50% Probable – Greenfield production

0

5

10

15

20

25

30

35

40

45

50

0%

5%

10%

15%

20%

25%

30%

0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 50,000

Copper AluminiumIron ore Hard coking coal

Expenditure per capita US$ (2011 terms)

2011 population distribution

China

India 2011 2025

World averageincome per capita

GDP per capita (in 2011 US$)


• To maximise total shareholder returnby sustainably finding, developing, mining and processingnatural resources

• Invest in and operate large, long term, cost competitive minesand assets

• Driven by the quality of each opportunity

• Our expertise in sustainable development is an important partof our approach to creating value for shareholders

Our strategy is consistent and unchanged26©2011, Rio Tinto, All Rights Reserved

Change picture

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>$33 billion of major capital projects underway27

Project timeline(1) % Complete $ Capex(2) Production

$284m +5mtpa

$763m +5.3mtpa

$2.1bn 15mtpa(3)

$9.7bn +53mtpa

$1.1bn 15mtpa(3)

$166m(4) Access high grade ore

$340m(5) 30mlb Ph1, 60mlb Ph2 (capacity)

$6bn +100ktpd ore

$469m(5) +17kt Ni, 13kt Cu per annum

$487m +40ktpa

$2.3bn +2mtpa alumina

$1.1bn +60ktpa

$3.3bn 420ktpa

$516m +1.6mtpa coking, +0.8mtpa thermal

$184m +2.1mtpa

$260m +6mtpa

$2.0bn +1.3mtpa

$2.1bn 20mcpa capacity

(1) Represents timing of project completion and initial production (2) 100% unless otherwise stated (3) Sustaining production at Pilbara total capacity (4) RT share of capex (5) Budgets and schedule are under review

Argyle U/G

Kestrel

HVO & MTW

Bengalla

Benga

Kitimat

AP 60

Yarwun 2

ISAL

Eagle

Oyu Tolgoi Ph 1

MAP

Escondida EOA

Marandoo

Pilbara 283

Hope Downs 4

IOCC Ph 1 & 2

Dampier Ph 2

2012 2013 2014


• Planned expansion of driverless truck fleet from 10 to 150 trucks

• Further options for automation

• Continued development of innovative recovery technologies

• Tunnel boring system to be prototyped at Northparkes in 2012

• Operations Centre continues to deliver improvements

• Exploration to find the next generation of tier one ore bodies

Embedding industry leadership in exploration, technology and innovation


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• Record underlying earnings, EBITDA and cash flows from operations

• Strong balance sheet

• Growing established operations

• Identifying, acquiring and developing the next generation of tier one orebodies

• At the forefront of exploration, innovation and technology

• Sustainable long term progressive dividend

Executing our strategy29©2011, Rio Tinto, All Rights Reserved

2011 full year results

30

9 February 2012


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High quality tier one projects in advanced study31

Project Product

Total indicative capex(1)

Rio Tinto funding of indicative capex

Indicative first production

Indicativeproduction(1)

Pilbara 353 Iron ore $$$ $$$ 2015 +70mtpa

IOCC Phase 3 Iron ore $ $ 2013 +2.7mtpa

Simandou Iron ore $$$$ $$ 2015 +95mtpa

Oyu Tolgoi Phase 2 Copper, Gold $$$ note (2) 2015 +60ktpd ore

KUC extension Copper, gold, moly $$ $$ 2015 Extend LOM to 2028

Weipa South of Embley Bauxite $ $ 2015 +22.5mtpa

Mt. Pleasant Thermal Coal $ $ 2014 +8.5mtpa

$ <$2 billion$$ $2–$5 billion$$$ $5–$10 billion$$$$ >$10 billion

(1) 100% basis unless otherwise stated(2) Oyu Tolgoi capex is funded by Ivanhoe Mines. Rio Tinto has a variety

of funding arrangements with Ivanhoe Mines


A rich portfolio of strong earlier stage projects provide options for further quality growth

32

• Pilbara 453mtpa• IOCC expansions

• Resolution• La Granja• Escondida options

Copper

• AP60 Phase 2• Sarawak• Cameroon brownfield and greenfield

Aluminium

• Benga phase 2 and Zambeze• Hail Creek expansion• Hunter Valley options• Valeria

Energy

• Bunder (diamonds)• Diavik A21 (diamonds)• Jadar (borates, lithium)

Diamonds & Minerals

Iron Ore

• KUC North Rim Skarn• Northparkes expansion

• Winchester South• Rössing heap leach• ERA Ranger 3 Deeps

• Ilmenite mine expansions• TiO2 smelter expansions

• Orissa


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$m 2011 2010

Underlying earnings 15,549 13,987

Impairment charges net of reversals (9,290) (739)

Profits on disposal of interests in businesses 167 174

Gain on consolidation of Oyu Tolgoi – 445

Loss after tax from discontinued operations (10) (97)

Exchange and derivative gains / (losses)

Exchange (losses)/gains on US dollar net debt and intragroup balances (147) 434

(Losses)/gains on currency and interest rate derivatives not qualifying for hedge accounting

(19) 56

Gains/(losses) on commodity derivatives not qualifying for hedge accounting

109 (61)

Deferred tax asset write off (342) –

Other exclusions (191) 39

Net earnings 5,826 14,238

Reconciliation of underlying earningsto net earnings


386

663

215122

3,784

244

623

88228 214

108

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

Copper Aluminium Gold Other Iron ore Th coal Met coal Uranium Ind mins Diamonds Other

Earnings impact from price variance $6,675 million$US million

34

Breakdown of price variance

Traded Non-traded


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-333

-9

-246

36

181

-71-37

-12 -11

-400

-300

-200

-100

0

100

200

300

Copper Aluminium Gold Moly Iron ore Coal Industrialminerals

Diamonds Other

Earnings impact from volumes $502 million$US millions

35

Breakdown of volume variance©2011, Rio Tinto, All Rights Reserved

Modelling earnings36

*For both thermal and coking coal

Earnings sensitivity2011 average

price/rate 10% Change

Impact on full year underlying earnings

($m)

Copper 400c/lb +/-40c/lb 340

Aluminium $2,395/t +/-$240/t 510

Gold $1,571/oz +/-$157/oz 70

Iron ore +/-10% 1,720

Coal* +/-10% 280

A$ 103 Usc +/-US10.3c 910

C$ 101 Usc +/-US10.1c 300


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Iron ore37

Movement in underlying earnings 2010 vs 2011$US millions

10,189 12,853

(274) (91) (82) (515) (264) (44)3,747 187

FY, 2010 Price Fx Vols CPI Energy Other cash Expl'n Eval'n Other FY,2011

• Record global iron ore shipments of 239mt/a despite first half of year weather conditions

• Record global iron ore production of 245mt/a

• In the fourth quarter approximately 60% sold on a short term basis

• Pilbara expansion projects obtain further funding approvals

• Simandou project development has been accelerated


611442

(282)

(12) (90) (329)

(27) (20)

57417


Aluminum38


• Tight physical markets offset by macroeconomic concerns resulted in average prices rising by 10% year on year

• Continued higher prices for key raw materials

• Heavy rains in Australia impacted alumina refiners

• Second phase of the transformation:

− Reduced cost structure and business improvement initiatives

− Disciplined portfolio management

− Step change through capital investment in major projects


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Copper39


• Lower grades at Kennecott Utah Copper, Escondida and Grasberg as previously announced.

• Industrial action impacted production at Escondida and Grasberg

• Increased ownership of Ivanhoe to 49% in 2011, with 51% majority stake in Ivanhoe assumed in January 2012

• Construction of Oyu Tolgoi progressing to 70% in January 2012

• Exploration and evaluation work continued at the Resolution projectin Arizona and the La Granja project in northern Peru

2,530 1,932

(23) (548)

(45) (66) (560)

(182)

738

88



Energy40


• Lower volumes following adverse weather conditions in the first half of 2011, with force majeure declared at four Queensland mines and ERA processing plant closed from January to June

• Improved pricing environment in response to tight supply due to constrained production from Australia

• High Australian dollar have impacted costs and projects

• Rio Tinto acquired 100% of Riversdale

• Acquisition of Hathor Exploration completed January 2012

1,187 1,074

(241) (71) (90)(26)

(244) (13) (383)

955



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Diamonds & Minerals41


• Higher prices and improved market conditions for all products

• TiO2 pricing reflects existing multi-year contracts which are being replaced with alternative pricing mechanisms as they mature giving increased exposure to current market conditions

• Argyle production and cash costs impacted by weather, grade and equipment failure

• Other costs higher primarily as a result of the absence of tax benefits received in 2010, higher depreciation and amortisation and absence of Talc earnings in the second half of 2011

328 252

(21) (72)(39)

(9) (203)

(32) (142)

442



Other

• Intersegment includes insurance proceeds

• Other operations comprises mainly Pacific and Other Aluminium(1), Areas under Management and Engineered Products (including Cable and Constellium).

• Exploration rebuilding portfolio and higher divestment proceeds

• Interest charge has fallen 52% mainly reflecting an increase in capitalised interest in 2011

• Other includes higher corporate costs, offset by currency movements on non-USD funds

42

(1) Other Aluminium comprises Lynemouth, Sebree and Speciality Alumina

$millions FY, 2010FX/

price InflationSales

Vols EnergyCash

CostsEpl'n

Aval'nNon

Cash

Interest, tax & other FY,2011

Intersegment (15) – – – – – – – 55 40

Other operations 237 72 14 (21) (83) (99) – – (240) (120)

Central exploration (net) (52) (1) – – – – (49) – – (102)

Interest (474) – – – – – – – 245 (229)

Other (554) (9) – – – (146) – – 116 (593)


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Provisional pricing

• 2010: driven by the 28% increase in copper 3 month forward price between the end of 2009 and the end of 2010, resulting in a favourable earnings impact of $143m

• 2011: driven by an 18% decline in the copper 3 month forward price and a 33% decrease in tonnes provisionally priced at the end of 2011, resulting in an unfavourable earnings impact in 2011 of $61m

• The variance between the two years approximates $201m

43

Open shipments

(million lbs)

Provisional pricing effect

(US$m)

31Dec

2011

31Dec

2010 2011 2010

Escondida 146 217 (58) 132

Northparkes 33 24 (2) 12

Grasberg JV/Other

2 29 (1) (1)

181 270 (61) 143


Earnings reconciliations44

2011

Energy Resources of Australia US$m

Earnings per ERA press release (A$54m) (56)

Increase depreciation of closure asset (14)

Tax and unwinding of discount 1

Less: Minority interests 24

Other (8)

Underlying earnings as reported by Rio Tinto (53)

Palabora US$m

Earnings per Palabora press release (R1,464m) 202

RT share of interest and FX gain/loss on net debt (net) (47)

Tax effect on above items 13

Tax on unremitted earnings 6

Less: minority interest (42.3%) (74)

Underlying earnings as reported by Rio Tinto 100


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Variance analysts methodology

• Price = Change in commodity price x prior year sales volumes

• Exchange = (Change in exchange rates x Prior year cost of sales) + Relative movements in exchange gains and losses on working capital

• Inflation = Inflation rate x Prior year cash cost of sales

• Volume = Change in sales volumes x Current year margins

• Cost = cash cost variance + non cash cost variance + impact of energy price changes + one-off costs

− Energy = change in input price x prior year usage

− Cash cost = Change in cash unit costs x Prior year sales volumes

− Non cash cost = Change in non cash unit costs x Prior year sales volumes

45©2011, Rio Tinto, All Rights ReservedF

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