Prepared by EDGARX.com

Notice to ASX

Changes to Pilbara Ore Reserves and Mineral Resources

2 March 2017

Included in Rio Tinto’s annual Ore Reserves and Mineral Resources tables, released to the market today as part of its 2016 Annual report, are changes in Ore Reserves and Mineral Resources in Pilbara iron ore deposits in Western Australia.

The updated Ore Reserves and Mineral Resources are reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, 2012 (JORC Code) and the ASX Listing Rules. As such, the reported changes relating to three Pilbara iron ore deposits require the additional supporting information set out in this release and its appendices. Ore Reserves and Mineral Resources are quoted on 100 per cent basis. Rio Tinto’s interests are listed on pages 6, 7, 11, and 14. Rio Tinto’s Ore Reserves and Mineral Resources are set out in full in its 2016 Annual report.

During 2016, increases to estimated iron Ore Reserves have been delivered as part of the ongoing resource development drilling program designed to maintain Ore Reserves coverage ahead of mining depletion rates. During the same period, estimated Mineral Resources increased by 350 Mt.

This release and its appendices set out the following significant changes in Ore Reserves and Mineral Resources:

	Ore Reserves	Mineral Resources
Hope Downs 1	Hope Downs 1 Ore Reserves have	Hope Downs JV Brockman Mineral
	increased from 196 Mt to 238 Mt due to	Resources have increased (from 571 Mt
	the addition of the Hope Downs 1 South	to 645 Mt) and Brockman Process Ore
	West mine area. The percentage of	Mineral Resources have increased (from
	Proved Ore has increased significantly	348 Mt to 398 Mt) due to significant
	(from 3 Mt to 115 Mt) due to	additions at Hope Downs 1 Bedded
	classification changes at Hope Downs 1	Hilltop.
	North.
Koodaideri	Koodaideri Ore Reserves have
	increased from 452 Mt to 594 Mt due to
	new Ore Reserves at Koodaideri 38
	West / 21 West (38W/21W) following
	additional drilling (more than 1,000 drill
	holes) used to update the geological
	model, Mineral Resource estimate, and
	increase the Resource classification to
	Indicated (in part).
Hope Downs 2		Hope Downs JV Marra Mamba Mineral
		Resources have increased (from 396 Mt
		to 439 Mt despite transfers to Ore
		Reserves) and Detritals Mineral
		Resources have increased (from 70 Mt
		to 96 Mt) due to significant additions at
		Hope Downs 2.

Page 1 of 16

In aggregate, estimated Pilbara iron Ore Reserves increased by 57 Mt during 2016 as set out below:


	Dry Product
	(Mt)
2015 Ore Reserves	3,458
Hope Downs 1 South West increases	42
Koodaideri 38 West increases	142
Net amount of other changes (including depletions of 305 Mt due to production
and minor increases)	-127
2016 Ore Reserves	3,515

The locations of the deposits involved are shown in Figure 1.

Page 2 of 16

Summary of information to support the Ore Reserve and Mineral Resource estimates

Hope Downs 1

Increases in the Ore Reserve and Mineral Resource estimates for the Hope Downs 1 deposit in 2016 are supported by the information set out in Appendix 1 to this release and located at riotinto.com/JORC in accordance with the Table 1 checklist in the JORC Code. The following summary information is provided in accordance with rules 5.8 and 5.9 of the ASX Listing Rules.

The information under the headings below only pertains to Hope Downs 1 North, Hope Downs 1 South West, and Hope Downs 1 Bedded Hilltop as these are the deposits for which there was significant change in 2016.

Geology, drilling techniques, and geological interpretation

The Hope Downs 1 deposits are located within the Hamersley Basin of Western Australia, the host to some of the most significant iron ore deposits in the world. Hope Downs 1 North and Hope Downs 1 South West mineralisation is primarily hosted by the Marra Mamba Iron Formation although detrital mineralisation is also present. Hope Downs 1 Bedded Hilltop mineralisation is hosted by the Brockman Iron Formation.

Drilling at the deposits was carried out using diamond (except Bedded Hilltop), percussion and reverse circulation drilling rigs. In total, 2,153 holes are drilled at Hope Downs 1 North, 1,909 holes are drilled at Hope Downs 1 South West and 250 holes are drilled at Hope Downs 1 Bedded Hilltop. Geophysical logging was completed for the majority of the drill holes employing a suite of down-hole tools to obtain calliper, gamma, and other data to assist in the interpretation of the stratigraphy.

Geological interpretation was performed by Rio Tinto Iron Ore geologists. The method involves interpretation of stratigraphy and mineralisation using surface geological mapping, lithological logging data, down-hole gamma data, and assay data.

Sampling, sub-sampling method and sample analysis method

For the reverse circulation drilling, sub-sampling at the drill rig was carried out using static and rotary splitters. For diamond drilling, 1m samples were passed through a jaw crusher with a top size of 2cm. A rotary splitter is then used to create an ‘A’ sub-sample with 40 per cent of the sample by mass.

The sub-sample is then sent to independent and certified laboratories for analysis. At the laboratory, the sample is oven dried at 105 degrees Celsius for a minimum of 24 hours. The sample is then crushed to less than 3mm using a jaw crusher and split to produce a sub-sample. The sub-sample is pulverised to 95 per cent of weight passing 150 µm. Fe, SiO2, Al2O3, P, Mn, MgO, TiO2, CaO and S are assayed using industry standard lithium metaborate fusion and X-Ray Fluorescence (XRF) analysis. Loss on Ignition (LOI) was determined using industry standard Thermo-Gravimetric Analyser.

Estimation methodology

Modelling was completed using the Rio Tinto Iron Ore Pilbara geological modelling and estimation standards. Ordinary Kriging methods were used to estimate grades through the deposits.

Page 3 of 16

Criteria used for classification

The Mineral Resource for Hope Downs 1 North and Hope Downs 1 South West has been classified into the categories of Measured, Indicated and Inferred. Hope Downs 1 Bedded Hilltop has been classified as Inferred. The determination of the applicable category has considered the relevant factors (geological complexity, mineralisation continuity, sample spacing, data quality, and others as appropriate).

At Hope Downs 1 Bedded Hilltop the data spacing is 200m × 100m.

At Hope Downs 1 North and Hope Downs 1 South West the data spacing for each category is typically:

Measured Mineral Resources 50m × 50m;
Indicated Mineral Resources 100m × 50m and 50m × 50m;
Inferred Mineral Resources 100m × 50m and 50m × 50m.

Note that the same spacing may result in different classification depending on other factors such as, but not limited to, geological complexity and mineralisation continuity.

Economic assumptions

Rio Tinto applies a common process to the generation of commodity prices across the group. This involves generation of long-term price curves based on current sales contracts, industry capacity analysis, global commodity consumption and economic growth trends. In this process, a price curve rather than a single price point is used to develop estimates of mine returns over the life of the project. The detail of this process and of the price point curves is commercially sensitive and is not disclosed.

Mining and recovery factors (Hope Downs 1 North and Hope Downs 1 South West only)

The Mineral Resource model was regularised to a block size which was determined to be the selective mining unit following an analysis of a range of selective mining units. Dilution and mining recovery were modelled by applying the regularisation process to the sub-block geological model.

Metallurgical models were applied to the regularised model in order to model product tonnage, grades and yields.

Pit optimisation utilising the Lerchs-Grosmann algorithm was undertaken applying applicable cost, revenue and geotechnical inputs. The resultant pit shells were used to develop detailed pit designs with due consideration of geotechnical, geometric and access constraints.

These pit designs were used as the basis for production scheduling and economic evaluation. Conventional mining methods (truck and shovel) similar to other Rio Tinto Iron Ore mines were selected.

The geotechnical parameters have been applied based on geotechnical studies informed by assessments of diamond drill holes, specifically drilled for geotechnical purposes in the surrounding host rock.

Cut-off grades

At Hope Downs 1 North:

The cut-off for Ore Reserves is greater than or equal to 57 per cent Fe;
The cut-off grade for Mineral Resources is greater than or equal to 57 per cent Fe.

At Hope Downs 1 South West:

The cut-off for Ore Reserves is greater than or equal to 58 per cent Fe;
The cut-off grade for Mineral Resources is greater than or equal to 58 per cent Fe.

Page 4 of 16

At Hope Downs 1 Bedded Hilltop:

The cut-off for High Grade Mineral Resources is greater than or equal to 60 per cent Fe;
The cut-off for Brockman Process Ore Mineral Resources is material 50 per cent ≤ Fe < 60 per cent and ≥ 3 per cent Al2O3 < 6 per cent (geology domain must be Dales Gorge, Joffre or Footwall Zone).

Processing (Hope Downs 1 North and Hope Downs 1 South West only)

Hope Downs 1 North ore is processed through the Hope Downs 1 dry crushing and screening plant. The ore is blended with ore from other Rio Tinto Iron Ore mine sites to make Pilbara Blend.

Hope Downs 1 South West ore will be processed through the Hope Downs 1 dry crushing and screening plant. It is planned to blend ore from Hope Downs 1 South West with ore from other Rio Tinto Iron Ore mine sites to make a saleable ore product. Hope Downs 1 South West ore will not be marketed directly. This plan is in line with current Rio Tinto Iron Ore practices where ore from multiple mines is combined to produce the Pilbara Blend product.

Modifying factors (Hope Downs 1 North and Hope Downs 1 South West only)

The Hope Downs 1 operation is well established with central administration and workshop facilities. The workforce currently operates on a Fly in Fly out (FIFO) model using the West Angelas airport. Electric power is supplied by generators and additional communications infrastructure will be required to provide adequate communications to the Hope Downs 1 South West mine area. Water for Hope Downs 1 South West will be sourced from bores located to the south and the east of the deposit. These bores will support construction and operations.

The deposits are located within Mining Lease 282SA Section1 which was granted under the Iron Ore (Hope Downs) Agreement Act 1992.

The projects are located in the Hamersley Range, which has rich history of Aboriginal occupation. Ethnographic and archaeological surveys of the area have been completed, and all known sites have been located, recorded and considered during mine planning and engineering activities.

Page 5 of 16

2016 Annual report Ore Reserves table, showing line items relating to the Hope Downs 1 upgrade

		Proved Ore Reserves		Probable Ore Reserves		Total Ore Reserves 2016 compared with 2015
		at end 2016		at end 2016
										Interest	Recoverable
	Type (a)	Tonnage	Grade	Tonnage	Grade	Tonnage		Grade		%	metal
						2016	2015	2016	2015
											Marketable
											product
		millions		millions		millions	millions				millions
IRON ORE (b)		of tonnes	%Fe	of tonnes	%Fe	of tonnes	of tonnes	%Fe	%Fe		of tonnes
Reserves at Operating Mines
Hope Downs JV (Australia)
- Hope Downs 1 (Marra Mamba ore) (c)	O/P	115	62.4	123	60.6	238	195	61.5	61.6	50.0	119

(a)	Type of mine: O/P = open pit (b) Reserves of iron ore are shown as recoverable Reserves of marketable product after accounting for all mining and processing losses. Mill recoveries are therefore not shown.
(c)	Hope Downs 1 (Marra Mamba ore) Reserves tonnes increased due to the inclusion of additional pits.

Page 6 of 16

2016 Annual report Mineral Resources table, showing line items relating to the Hope Downs 1 changes

Likely Mining

Method (a)

Measured resources

Indicated resources

Inferred resources

Total resources 2016 compared with 2015

at end 2016

Tonnage

Grade

Tonnage

Grade

Tonnage

Grade

Tonnage

Grade

Rio Tinto

Interest %

2016

2015

2016

2015

millions

millions

millions

IRON ORE (b)

of tonnes

%Fe

of tonnes

%Fe

of tonnes

of tonnes

%Fe

%Fe

Hope Downs JV (Australia)

- Brockman (d)

O/P

62.2

174

62.2

428

62.1

645

571

62.1

62.3

50.0

- Brockman Process Ore (d)

O/P

56.8

123

56.9

219

56.0

398

348

56.4

56.6

50.0

(a)	O/P Open pit
(b)	Mineral resources are reported on a dry weight basis.
(d)	Hope Down JV Resources have increased as a result of additional drilling and updated geological models. A JORC table 1 in support of these changes will be released to the market contemporaneously with the release of this Annual report and can be viewed at riotinto.com/JORC.

Page 7 of 16

Koodaideri 38 West / 21 West

Increases in the Ore Reserve estimates for the Koodaideri 38 West / 21 West (38W/21W) deposit are supported by the information set out in Appendix 2 to this release and located at riotinto.com/JORC in accordance with the Table 1 checklist in the JORC Code. The following summary information is provided in accordance with rule 5.9 of the ASX Listing Rules.

Geology, drilling techniques, and geological interpretation:

The Koodaideri 38W/21W deposit is located within the Hamersley Basin of Western Australia, the host to some of the most significant iron ore deposits in the world. Mineralisation at the Koodaideri deposit occurs as hematite-goethite within the Brockman Iron Formation and overlying detrital ores.

Reverse circulation drilling is the predominant form of drilling and totals 1,533 holes for 92,220m. In addition to this 9 diamond drill holes are available for geological interpretation, geotechnical and metallurgical assessments. Geophysical logging was completed for the majority of the drill holes employing a suite of down-hole tools to obtain calliper, gamma, and other data to assist in the interpretation of the stratigraphy.

Geological modelling was performed by Rio Tinto Iron Ore geologists. The method involves interpretation of stratigraphy and mineralisation using surface geological mapping, lithological logging data, down-hole gamma data, and assay data.

Sampling, sub-sampling method and sample analysis method

Sub-sampling at the drill rig was carried out using rotary splitters. The sample is then sent to independent and certified laboratories for analysis. At the laboratory, the sample is oven dried at 105 degrees Celsius for a minimum of 24 hours. The sample is then crushed to less than 3mm using a jaw crusher and split to produce a 500g sub-sample. The sub-sample is pulverised to 95 per cent of weight passing 150 µm. Fe, SiO2, Al2O3, P, Mn, MgO, TiO2, CaO and S are assayed using lithium metaborate fusion and X-Ray Fluorescence (XRF) analysis. Loss on Ignition (LOI) is determined using a Thermo-Gravimetric Analyser (TGA).

Estimation methodology

Modelling was completed using the Rio Tinto Iron Ore Pilbara geological modelling and estimation standards. Ordinary kriging methods were used for the grade estimates.

Criteria used for classification

The Mineral Resource has been classified into the categories of Indicated and Inferred. The determination of the applicable category has considered the relevant factors (geology complexity, mineralisation continuity, sample spacing, data quality, and others as appropriate).

At each deposit the data spacing for each category is typically:

Indicated Mineral Resources 100m × 50m and 50m × 50m;
Inferred Mineral Resources 200m × 50m and 100m × 50m.

Note that the same spacing may result in different classification depending on other factors such as, but not limited to, geological complexity and mineralisation continuity.

Page 8 of 16

Economic assumptions

Mining and recovery factors

Metallurgical models were applied to the regularised model in order to model products tonnage, grades and yields.

These pit designs were used as the basis for production scheduling and economic evaluation. Conventional mining methods (truck and shovel) similar to other Rio Tinto Iron Ore mines were selected, and the mine has been designed to utilise in-pit crushing and conveying to transport ore to a central processing facility.

The geotechnical parameters have been applied based on geotechnical studies informed by assessments of diamond drill holes drilled during the 2011, 2012 & 2013 drilling programmes, specifically drilled for geotechnical purposes on the surrounding host rock.

Processing

The Koodaideri mine has been designed with a dry crushing and screening processing facility similar to processing facilities at other Rio Tinto Iron Ore mining operations. Studies into alternative processing technologies continue, however this has been excluded from this Ore Reserve declaration. The proposed metallurgical process is a well-tested and proven processing methodology, having been utilised at Rio Tinto Iron Ore mining operations for decades.

During drill campaigns in 2003, 2011, 2012 and 2013 a total of 4,857 m of metallurgical diamond drill core (2,858 m PQ and 1,999 m Wide Diameter) were drilled in the Koodaideri 58W and Koodaideri 75W deposits and to a lesser extent Koodaideri 38W/21W. Data obtained from this core formed the basis for metallurgical test work which informed the study for the design of the processing facility and metallurgical models.

Cut-off grades

At Koodaideri 38W/21W:

The cut-off for Ore reserves is greater than or equal to 60 per cent Fe;
The cut-off for High Grade Mineral Resources is greater than or equal to 60 per cent Fe;
The cut-off for Brockman Process Ore Mineral Resources is material meeting the criteria: 50 per cent ≤ Fe < 60 per cent and ≥ 3 per cent Al2O3 < 6 per cent and the geology domain must be Dales Gorge, Joffre or Footwall Zone.

Page 9 of 16

Modifying factors

The Koodaideri deposits are located within existing Mining Lease AM70/00252 (ML252SA), which was granted under the Iron Ore (Mount Bruce) Agreement Act 1972.

Additional tenure is required to connect the mine with the existing Rio Tinto Iron Ore rail network, as well as for roads, power, water and camp locations located outside of the ML252SA. Rio Tinto Iron Ore is currently in the process of negotiating third party consent to facilitate the grant of tenure for rail and ancillary infrastructure corridors.

The project is located in the Hamersley Range, which has rich history of Aboriginal occupation. Ethnographic and archaeological surveys of the area have been completed, and all known sites have been located, recorded and considered during mine planning and engineering activities.

Page 10 of 16

2016 Annual Report Ore Reserves table, showing line items relating to the Koodaideri upgrade

		Proved Ore Reserves		Probable Ore Reserves		Total Ore Reserves 2016 compared with 2015
		at end 2016		at end 2016

	Type	Tonnage	Grade	Tonnage	Grade	Tonnage		Grade		Interest	Recoverable
	(a)									%	metal
						2016	2015	2016	2015
											Marketable
											product
		millions		millions		millions	millions				millions
IRON ORE (b)		of tonnes	%Fe	of tonnes	%Fe	of tonnes	of tonnes	%Fe	%Fe		of tonnes
Reserves at development projects
Hamersley Iron (Australia)
- Koodaideri (Brockman ore) (c)	O/P	263	62.2	331	61.6	594	452	61.9	61.8	100.0	594

(a)	Type of mine: O/P = open pit
(b)	Reserves of iron ore are shown as recoverable Reserves of marketable product after accounting for all mining and processing losses. Mill recoveries are therefore not shown.
(c)	Hamersley Iron Koodaideri (Brockman ore) Reserves tonnes increased due to the inclusion of additional pits.

Page 11 of 16

Hope Downs 2

Increases in the Mineral Resource estimates for the Hope Downs 2 deposit are supported by the information set out in Appendix 3 to this release and located at riotinto.com/JORC in accordance with the Table 1 checklist in the JORC Code. The following summary information is provided in accordance with rule 5.8 of the ASX Listing Rules.

Geology, drilling techniques, and geological interpretation:

The Hope Downs 2 deposit is located within the Hamersley Basin of Western Australia, the host to some of the most significant iron ore deposits in the world. Hope Downs 2 mineralisation is primarily hosted by the Marra Mamba Iron Formation although detrital mineralisation is also present.

Reverse Circulation (RC) drilling was carried out between 1989 and 2015 and a total of 1,339 holes were completed for 101,984m. In addition to the RC drilling, 14 diamond drill holes for 916m has been carried out to provide bulk density measurements. Geophysical logging was completed for most drill holes employing a suite of down hole tools to obtain calliper and gamma and other data to assist in the interpretation of the stratigraphy.

Sampling, sub-sampling method and sample analysis method

Reverse circulation holes have been sub-sampled using rotary splitters. Samples are then sent for analysis by independent assay laboratories. At the laboratory the sample is dried at 105 degrees Celsius for a minimum of 24 hours. The sample is then crushed to less than 3mm using a jaw crusher and riffle split to produce a 500g sub-sample. The sub-sample is pulverised to 95 per cent of weight passing 150 µm. Fe, SiO2, Al2O3, P, Mn, MgO, TiO2, CaO and S are assayed using lithium metaborate fusion and X-Ray Fluorescence (XRF) analysis. Loss on Ignition (LOI) is determined using a Thermo-Gravimetric Analyser (TGA).

Estimation Methodology

Modelling was completed using the Rio Tinto Iron Ore Pilbara geological modelling and estimation standards. Ordinary kriging methods were used for the grade estimates.

Criteria used for classification

The Mineral Resource has been classified into the categories of Measured, Indicated and Inferred. The determination of the applicable category has considered the relevant factors (geology complexity, mineralisation continuity, sample spacing, data quality, and others as appropriate). At this deposit the data spacing for each category is typically:

Measured Mineral Resources 50m × 50m;
Indicated Mineral Resources 100m × 50m and 50m × 50m;
Inferred Mineral Resources 200m × 50m and 100m × 50m.

Note that the same spacing may result in different classification depending on other factors such as, but not limited to, geological complexity and mineralisation continuity.

Page 12 of 16

Cut-off grades

The cut-off grade for high-grade Marra Mamba Mineral Resource at Hope Downs 2 is greater than or equal to 58 per cent Fe.

Mining and Metallurgical Methods and Parameters

Development of this Mineral Resource assumes mining using standard Rio Tinto Iron Ore equipment and methods similar to other Rio Tinto Iron Ore operations. The assumed mining method is conventional truck and shovel, open pit mining at an appropriate bench height. Mining practices will include grade control utilising blast hole data.

It is assumed that standard crushing and screening processes used by Rio Tinto Iron Ore will be applicable for the processing of Hope Downs 2.

It is planned to blend ore from Hope Downs 2 with ore from other Rio Tinto Iron Ore mine sites to make a saleable ore product. Hope Downs 2 ore will not be marketed directly. This plan is in line with current Rio Tinto Iron Ore practices where ore from multiple mines is combined to produce the Pilbara Blend product.

No other significant modifying factors have yet been identified.

Page 13 of 16

Notice to ASX

2016 Annual report Mineral Resources table, showing line items relating to Hope Downs 2 changes

Likely Mining

Measured resources

Indicated resources

Inferred resources

Total resources 2016 compared with 2015

Method (a)

at end 2016

Rio Tinto

Tonnage

Grade

Tonnage

Grade

Tonnage

Grade

Tonnage

Grade

Interest %

2016

2015

2016

2015

millions

millions

millions

IRON ORE (b)

of tonnes

%Fe

of tonnes

%Fe

of tonnes

of tonnes

%Fe

%Fe

Hope Downs JV (Australia)

- Marra Mamba (d)

O/P

106

62.7

148

62.0

185

60.7

439

396

61.7

61.7

50.0

- Detrital (d)

O/P

59.1

59.0

59.7

59.6

59.4

50.0

(a)	O/P Open pit
(b)	Mineral resources are reported on a dry weight basis.
(d)	Hope Down JV Resources have increased as a result of additional drilling and updated geological models. A JORC table 1 in support of these changes will be released to the market contemporaneously with the release of this Annual report and can be viewed at riotinto.com/JORC.

Page 14 of 16

Notice to ASX

Competent Persons’ Statement

The material in this report that relates to Mineral Resources is based on information prepared by Mr Bruce Sommerville, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy.

The material in this report that relates to Ore Reserves is based on information prepared by Mr Chris Tabb, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy.

Mr Sommerville and Mr Tabb are both full-time employees of Rio Tinto.

Mr Sommerville and Mr Tabb have sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as Competent Persons as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Each of Mr Sommerville and Mr Tabb consents to the inclusion in the report of the material based on information prepared by him in the form and context in which it appears.

Page 15 of 16

Contacts

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