UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D/A

Under the Securities Exchange Act of 1934

(Amendment No. 5)*

Entrée Gold Inc.

(Name of Issuer)

Common Shares, without par value

(Title of class of securities)

29383G100

(CUSIP Number)

Ben Mathews

Rio Tinto plc

2 Eastbourne Terrace

London W2 6LG

United Kingdom

+44 (0) 20 7781 2000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

with copy to:

Thomas B. Shropshire, Jr.

Linklaters LLP

One Silk Street

London EC2Y 8HQ

United Kingdom

+44 (0) 20 7456 3223

August 2, 2012

(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.  ¨

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7 for other parties to whom copies are to be sent.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

Item 1. Security and Issuer.

This Amendment No. 5 to Schedule 13D amends and supplements the statement on Schedule 13D originally filed by Rio Tinto plc (“Rio Tinto”) and Rio Tinto Exploration Canada Inc., formerly Kennecott Canada Exploration Inc. (“RTEC”), on July 8, 2005, and amended on July 27, 2007, November 26, 2007, November 30, 2011 and April 20, 2012 (as amended and supplemented, the “Schedule 13D”) with the Securities and Exchange Commission (the “SEC”), relating to the common shares, without par value (the “Common Shares”), of Entrée Gold Inc., a corporation continued under the laws of British Columbia (the “Company”). The Company’s principal offices are located at Suite 1201, 1166 Alberni Street, Vancouver, British Columbia, V6E 3Z3, Canada.

This Amendment No. 5 to Schedule 13D is being filed by Rio Tinto, Rio Tinto International Holdings Limited (“RTIH”) and RTEC to reflect an intercompany transfer of Common Shares between RTEC and RTIH, both wholly owned subsidiaries of Rio Tinto, as a result of which RTEC ceased to be the beneficial owner of any Common Shares.

Item 2. Identity and Background.

Item 2 of the Schedule 13D is hereby amended and restated in its entirety as follows:

This Schedule 13D is being filed by Rio Tinto, a public limited company incorporated under the laws of England and Wales, RTEC, a company incorporated under the laws of Canada, and RTIH, a company incorporated under the laws of England and Wales.

Rio Tinto, through its group companies, has mining operations around the world. RTEC is an indirect wholly owned subsidiary of Rio Tinto and its principal business is the discovery and acquisition of mineral resources in North and Central America. RTIH is a wholly owned subsidiary of Rio Tinto and is a major investment holding company for the group. Rio Tinto and RTIH shall be collectively referred to herein as the “Reporting Persons”. As noted, RTEC has ceased to be a beneficial owner of any Common Shares. Accordingly, RTEC is no longer a reporting person for the purposes of the Schedule 13D.

The principal executive office of Rio Tinto and RTIH is located at 2 Eastbourne Terrace, London, W2 6LG, United Kingdom. The principal executive office of RTEC is located at 118 Sherbrooke Street West, Montreal, Quebec, H3A 3G2, Canada.

The name, business address, present principal occupation or employment and citizenship of each of the executive officers and directors of the Reporting Persons are set forth in Schedule A hereto and are incorporated by reference herein.

During the last five years, neither the Reporting Persons nor RTEC nor, to the best of their knowledge, any of the persons listed in Schedule A hereto has been: (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

The Reporting Persons and RTEC have entered into a Joint Filing Agreement, dated August 2, 2012, a copy of which is attached as Exhibit D, pursuant to which they have agreed to file this Schedule 13D jointly in accordance with the provisions of Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

Item 5. Interest in Securities of the Issuer.

Item 5 of the Schedule 13D is hereby amended and supplemented as follows:

On August 2, 2012, RTEC transferred to RTIH 16,566,796 Common Shares, representing approximately 12.9% of the Company’s Common Shares, which constituted all of the Company’s Common Shares owned by RTEC. As previously stated, Rio Tinto owns approximately 51% of the common shares of Ivanhoe and Ivanhoe owns 13,799,333 Common Shares, representing approximately 10.7% of the Company’s Common Shares. Following completion of the proposed Ivanhoe rights offering, assuming Rio Tinto and other holders of rights under the rights offering exercise their rights in full and the standby commitment is not utilized, Rio Tinto will beneficially own the same percentage of common shares in Ivanhoe that it is currently deemed to beneficially own. As a result, Rio Tinto could be deemed to have indirect beneficial ownership of 30,366,129 Common Shares, representing approximately 23.6% of the Company’s Common Shares. Notwithstanding the matters discussed in this Schedule 13D, the Reporting Persons disclaim "group" status with Ivanhoe in respect of the Company and any interest (beneficial or otherwise) in respect of the Company's securities.

The calculation of the percentage of the Company’s Common Shares beneficially owned by the Reporting Persons is based on 128,377,243 Common Shares outstanding as of August 2, 2012, as notified by the Company.

Each of the Reporting Persons is deemed to beneficially own the Common Shares and the percentage of outstanding Common Shares listed on the responses to Items 11 and 13, respectively, of the cover page of this Schedule 13D relating to such Reporting Person. In addition, the Common Shares deemed beneficially owned by each Reporting Person with respect to which such Reporting Person (i) has sole voting power, (ii) shares voting power, (iii) has sole dispositive power and (iv) shares dispositive power are listed in the responses to Items 7, 8, 9 and 10, respectively, of the cover page of this Schedule 13D relating to such Reporting Person.

Except as set forth in this Schedule 13D, none of the Reporting Persons, and to the knowledge of the Reporting Persons, none of the persons listed in Schedule A, beneficially owns any Common Shares of the Company.

Except as set forth in this Schedule 13D, to the knowledge of the Reporting Persons, no person other than the Reporting Persons has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, securities covered by this Schedule 13D.

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

Item 6 of the Schedule 13D is hereby amended and supplemented as follows:

The information set forth in Item 5 is hereby incorporated by reference in this Item 6.

On August 2, 2012, RTEC and RTIH entered into a share purchase agreement to effect the transfer from RTEC to RTIH of 16,566,796 Common Shares. The description of this agreement contained herein is qualified in its entirety be reference to Exhibit E attached hereto, which is incorporated by reference herein. On August 2, 2012, RTEC and RTIH also entered into an assignment agreement to effect the transfer from RTEC to RTIH of rights under the Equity Participation Agreement disclosed in and attached as Exhibit A to the original Schedule 13D filed with the SEC on July 8, 2005. The description of this agreement contained herein is qualified in its entirety be reference to Exhibit F attached hereto, which is incorporated by reference herein.

Item 7. Materials to be Filed as Exhibits

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

Dated: August 2, 2012

SCHEDULE A

The response set forth in Schedule A of the Schedule 13D is hereby amended and restated in its entirety with the information below:

Rio Tinto plc

Directors and Executive Officers

EXHIBIT INDEX

EXHIBIT D

JOINT FILING AGREEMENT

Pursuant to Rule 13d-1(k)(i) promulgated under the Securities Exchange Act of 1934, the undersigned hereby agree to the joint filing of this Statement on Schedule 13D on behalf of each of them, including any amendments thereto.

This Joint Filing Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument.

EXHIBIT E

Share Purchase Agreement

EXECUTION VERSION

DATED 2 August 2012

RIO TINTO EXPLORATION CANADA INC.

and

RIO TINTO INTERNATIONAL HOLDINGS LIMITED

SHARE PURCHASE AGREEMENT

for the sale and purchase of shares

in Entrée Gold Inc.

Rio Tinto

London Legal Department

2 Eastbourne Terrace

London W2 6LG

UK

Tel: +44 20 7781 2000

EXECUTION VERSION

DATE: 2 August 2012

PARTIES:

RECITALS:

TERMS AGREED:

“Assignment Agreement” shall mean the assignment agreement between RTEC and RTIH referred to in Clause 3.1(b) of this Agreement;

“Business Days” shall mean a day on which banks are generally open in London and in Vancouver, British Columbia for the transaction of normal banking business;

“Completion” shall mean the completion of the sale and purchase of the Shares under this Agreement;

“Conditions Precedent” shall mean the conditions specified in Clause 3.1 of this Agreement;

“Encumbrance” shall mean any mortgage, charge, pledge, lien, restriction, assignment, hypothecation, security interest, title retention or any other agreement or arrangement the effect of which is the creation of security, or any other interest, equity or other right of any person (including any right to acquire, option, right of first refusal or right of pre-emption), or any agreement or arrangement to create any of the same;

“Entrée Gold” shall mean Entrée Gold Inc., a public company incorporated in Canada with company number CO725704 and with registered address Suite 1201-1166 Alberni Street, Vancouver, BC Canada V6E 3Z3;

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EXECUTION VERSION

“Equity Participation Agreement” shall mean the equity participation agreement entered into between Entrée Gold and RTEC (formerly known as Kennecott Canada Exploration Inc.) on 17 June 2005;

“Purchase Price” shall have the meaning attributed to it in Clause 2.2 of this Agreement;

“Rio Tinto Group” means the group of entities described in Recital C hereto;

“Shares” shall mean the 16,566,796 common shares (with no par value) of Entrée Gold legally and beneficially owned by RTEC which will transfer to RTIH in accordance with the terms of this Agreement;

“Warranties” means the warranties and representations set out in the Schedule to this Agreement.

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EXECUTION VERSION

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EXECUTION VERSION

Except in the case of fraud, RTEC shall not be liable under this Agreement, or otherwise in connection with it, in respect of any claim to the extent that the aggregate amount of liability for all claims made under this Agreement, or otherwise in connection with it, would exceed the Purchase Price.

So far as permitted by law and except in the case of fraud, each party agrees and acknowledges that its only right and remedy in relation to any representation, warranty or undertaking made or given in connection with this Agreement shall be for breach of the terms of this Agreement to the exclusion of all other rights and remedies (including those in tort or arising under statute).

If any provision of this Agreement is held by a court of competent jurisdiction to be illegal, invalid or unenforceable in any respect under the law of any jurisdiction, then such provision shall (so far as it is invalid and unenforceable and within such jurisdiction only) be given no effect and shall be deemed not to be included in this Agreement but without invalidating any of the remaining provisions of this Agreement. Any provision of this Agreement held invalid or unenforceable only in part or degree will remain in full force and effect to the extent not held invalid or unenforceable.

The beneficial interest in the Shares shall not pass to RTIH until Completion.

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EXECUTION VERSION

5

EXECUTION VERSION

SCHEDULE

Warranties

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EXECUTION VERSION

IN WITNESS WHEREOF, the parties hereto have entered into this Agreement effective as of 2 August 2012.

SIGNED by Julie Parent

duly authorised for and on behalf

of RIO TINTO EXPLORATION CANADA INC.

SIGNED by Ben Mathews

duly authorised for and on behalf

of RIO TINTO INTERNATIONAL HOLDINGS LIMITED

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EXHIBIT F

Assignment Agreement

EXECUTION VERSION

DATED 2 August 2012

RIO TINTO EXPLORATION CANADA INC.

and

RIO TINTO INTERNATIONAL HOLDINGS LIMITED

ASSIGNMENT AGREEMENT

for the transfer of rights under an Equity

Participation Agreement between RTEC and Entrée

Gold Inc. dated 17 June 2005

Rio Tinto

London Legal Department

2 Eastbourne Terrace

London W2 6LG

UK

Tel: +44 20 7781 2000

EXECUTION VERSION

DATE: 2 August 2012

PARTIES:

RECITALS:

IT IS AGREED as follows:

References to this Agreement include the recitals which form part of this Agreement for all purposes. References in this Agreement to the parties, recitals and clauses are references respectively to the parties and their legal personal representatives, successors and permitted assigns, the recitals and clauses of this Agreement.

Save where specifically required or indicated otherwise:

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EXECUTION VERSION

Clause and paragraph headings are inserted for ease of reference only and shall not affect construction.

Each party hereto agrees (at its own cost) to perform (or procure the performance of) all further acts and things, and execute and deliver (or procure the execution and delivery of) such further documents, as may be required by law or as the other party may reasonably require to implement and/or give effect to this Agreement and the assignment contemplated by this Agreement.

This Agreement represents the whole and only agreement between the parties in relation to its subject matter and supersedes any previous agreement (whether written or oral) between the parties in relation to its subject matter; save that nothing in this Agreement shall exclude any liability for, or remedy in respect of, fraudulent misrepresentation.

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EXECUTION VERSION

The parties do not intend that any term of this Agreement shall be enforceable by virtue of the Contracts (Rights of Third Parties) Act 1999 by any person who is not a party to this Agreement.

No variation or waiver of any provision of this Agreement shall be effective unless it is in writing and signed by or on behalf of each of the parties (or, in the case of a waiver, by or on behalf of the party waiving compliance).

If any provision of this Agreement is held by a court of competent jurisdiction to be illegal, invalid or unenforceable in any respect under the law of any jurisdiction, then such provision shall (so far as it is invalid or unenforceable and within such jurisdiction only) be given no effect and shall be deemed not to be included in this Agreement but without invalidating any of the remaining provisions of this Agreement. Any provision of this Agreement held invalid or unenforceable only in part or degree will remain in full force and effect to the extent not held invalid or unenforceable.

This Agreement may be executed in any number of counterparts and by the parties to it on separate counterparts and each such counterpart shall constitute an original of this Agreement but all of which together constitute one and the same instrument. This Agreement shall not be effective until each party has executed at least one counterpart.

The construction, validity and performance of this Agreement and all non-contractual obligations (if any) arising from or connected with this Agreement shall be governed by the laws of the Province of British Columbia and the laws of Canada applicable therein.

The parties to this Agreement irrevocably agree that the courts of [British Columbia / Canada] shall have exclusive jurisdiction over any claim or matter arising under or in connection with this Agreement (including any non-contractual claim) and that accordingly any proceedings in respect of any such claim or matter may be brought in such court.

IN WITNESS WHEREOF, the parties hereto have entered into this Agreement effective as of the day and year first above written.

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EXECUTION VERSION

SIGNED by Julie Parent

duly authorised for and on behalf

of RIO TINTO EXPLORATION CANADA INC.

SIGNED by Ben Mathews

duly authorised for and on behalf

of RIO TINTO INTERNATIONAL HOLDINGS LIMITED

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