Canada Invest Act Approval

RNS Number:9244F
Rio Tinto PLC
18 October 2007



18 October 2007


Rio Tinto Offer for Alcan: Investment Canada Act Approval Received



Rio Tinto has received approval from The Honourable Jim Prentice, Canada's
Minister of Industry, under the Investment Canada Act for the proposed
acquisition of Alcan Inc. by a subsidiary of Rio Tinto.



Rio Tinto's Chief Executive, Tom Albanese, said "This important step recognises
that we have committed to bring significant benefits to Canada as a result of
this transaction.  Rio Tinto has been an investor in Canada for decades and is
dedicated to growing the combined Rio Tinto Alcan presence, which will be
headquartered in Canada and will be positive for Canadian jobs, investment and
research and development."



Rio Tinto obtained Investment Canada Act approval by demonstrating that its
acquisition of Alcan would be of net benefit to Canada.  In doing so, Rio Tinto
has provided to the Minister several important undertakings in relation to
Alcan's operations and employees in Canada, including establishing the new
global aluminium leader's headquarters in Montreal, ensuring that a majority of
Canadian based senior managers are Canadian, creating a shared services hub in
Montreal and ensuring robust R&D employment and expenditures.  Rio Tinto has
also made major capital expenditure commitments on projects such as the AP50
pilot plant in Quebec and the Kitimat modernization in British Columbia.



In addition to the chief executive of Rio Tinto Alcan, Dick Evans, Rio Tinto
will be appointing two of the Canadian non-executive directors of Alcan to its
Board. Further, Rio Tinto will be making significant contributions to Canadian
communities, including the creation of a major charitable foundation,
demonstrating Rio Tinto's dedication to Canada.



The undertakings made to the Minister of Industry build on the commitments Rio
Tinto has made to the Province of Quebec pursuant to the Continuity Agreement.



Rio Tinto's offer for Alcan is scheduled to expire at 6:00 p.m. Canadian Eastern
Time on October 23, 2007.  Alcan shareholders are encouraged to tender their
shares as soon as possible.





                                                                        Cont.../




About Rio Tinto



Rio Tinto is a leading international mining group headquartered in the UK,
combining Rio Tinto plc, a London listed company, and Rio Tinto Limited, which
is listed on the Australian Securities Exchange.



Rio Tinto's business is finding, mining, and processing mineral resources. Major
products are aluminium, copper, diamonds, energy (coal and uranium), gold,
industrial minerals (borax, titanium dioxide, salt, talc) and iron ore.
Activities span the world but are strongly represented in Australia and North
America with significant businesses in South America, Asia, Europe and southern
Africa.





For further information, please contact:

Media Relations, Australia                           Media Relations, London
Amanda Buckley                                       Christina Mills
Office:  [phone]                         Office: [phone]
Mobile: [phone]                          Mobile: [phone]
Ian Head                                             Nick Cobban
Office:  [phone]                         Office:  [phone]
Mobile: [phone]                          Mobile: [phone]

Investor Relations, Australia                        Investor Relations, London
Dave Skinner                                         Nigel Jones
Office:  [phone]                         Office:   [phone]
Mobile: [phone]                          Mobile: [phone]

Investor Relations, North America                    David Ovington
Jason Combes                                         Office:  [phone]
Office:  [phone]                         Mobile: [phone]
Mobile: [phone]


Email:  [e-mail]

Website:  www.riotinto.com

High resolution photographs available at: www.newscast.co.uk







Additional information


The offer to purchase all of the issued and outstanding common shares of Alcan
for US$101 per common share in a recommended, all cash transaction (the "Offer")
is being made by Rio Tinto Canada Holding Inc. (the "Offeror"), an indirect
wholly-owned subsidiary of Rio Tinto. The Offer represents a total consideration
for Alcan common shares of approximately US$38.1 billion.



The Offer is open for acceptance until 6.00 p.m., Eastern Time, on October 23,
2007, unless extended. The Offer is subject to a number of conditions including
valid acceptances by holders of not less than 66 2/3 per cent of Alcan shares on
a fully diluted basis.




This announcement is for information purposes only and does not constitute or
form part of any offer or invitation to purchase, otherwise acquire, subscribe
for, sell, otherwise dispose of or issue, or any solicitation of any offer to
sell, otherwise dispose of, issue, purchase, otherwise acquire or subscribe for,
any security. The Offer (as the same may be varied or extended in accordance
with applicable law) is being made exclusively by means of, and subject to the
terms and conditions set out in, the offer and takeover bid circular delivered
to Alcan and filed with Canadian provincial securities regulators and the United
States Securities and Exchange Commission (the "SEC") and mailed to Alcan
shareholders.



The release, publication or distribution of this announcement in certain
jurisdictions may be restricted by law and therefore persons in such
jurisdictions into which this announcement is released, published or distributed
should inform themselves about and observe such restrictions.



In connection with the Offer, an offer and takeover bid circular as well as
ancillary documents such as a letter of transmittal and a notice of guaranteed
delivery have been filed with the Canadian securities regulatory authorities and
the SEC and an Alcan directors' circular with respect to the Offer has also been
filed. A Tender Offer statement on Schedule TO (the "Schedule TO") and a
Solicitation/Recommendation Statement on Schedule 14D-9 (the "Schedule 14D-9")
has also been filed with the SEC.



SHAREHOLDERS OF ALCAN ARE URGED TO READ THE OFFER AND TAKEOVER BID CIRCULAR
(INCLUDING THE LETTER OF TRANSMITTAL AND NOTICE OF GUARANTEED DELIVERY), THE
SCHEDULE TO (INCLUDING THE OFFER AND TAKEOVER BID CIRCULAR, LETTER OF
TRANSMITTAL AND RELATED TENDER OFFER DOCUMENTS) AND THE SCHEDULE 14D-9 AS THEY
CONTAIN IMPORTANT INFORMATION ABOUT THE OFFER.



The offer and takeover bid circular as well as other materials filed with the
Canadian securities regulatory authorities are available electronically without
charge at www.sedar.com. The Schedule TO and the Schedule 14D-9 are available
electronically without charge at the SEC's website, www.sec.gov. Materials filed
with the SEC or the Canadian securities regulatory authorities may also be
obtained without charge at Rio Tinto's website, www.riotinto.com.



While the Offer is being made to all holders of Alcan common shares, this
announcement does not constitute an offer or a solicitation in any jurisdiction
in which such offer or solicitation is unlawful. The Offer is not being made in,
nor will deposits be accepted in, any jurisdiction in which the making or
acceptance thereof would not be in compliance with the laws of such
jurisdiction. However, the Offeror may, in its sole discretion, take such action
as it may deem necessary to extend the Offer in any such jurisdiction.



The Offer is made to holders in France of Alcan common shares admitted to
trading on Euronext-Paris. An announcement including the main information
relating to the Offer documents has been prepared and released pursuant to
article 231-24 of the AMF General Regulation and contains information relating
to how and in which time limit Alcan shareholders residing in France can accept
this Offer. The offer document and the announcement prepared pursuant to article
231-24 of the AMF General Regulation, as amended on 17 September 2007, are
available free of charge to the holders of Alcan Shares registered with
Euroclear France who request it from Citi France, Global Transaction Services,
Operations department, 19 le Parvis la Defense 7, 92073 Paris la Defense. They
are also available on the internet at the following address:
www.computershare.com/Rio-AlcanFrenchofferdocument.


The Offer is made to holders in Belgium of Alcan common shares and/or
certificates admitted to trading on Euronext Brussels (the "IDRs"). A Belgian
supplement, addressing issues specific to holders of Alcan common shares and/or
IDRs in Belgium (the "Belgian Supplement") was approved by the Belgian Banking,
Finance and Insurance Commission (the "BFIC") on 2 August 2007. A notice of
extension of the Offer was approved by the BFIC on 18 September 2007. The offer
document, the Belgian Supplement and the notice of extension are available free
of charge to the investors in Belgium who request it from the Belgian branch of
Citibank International plc, Department GTS Operations, 4th floor, boulevard
General Jacques 263G, 1050 Brussels. They are also available on the internet at
the following address: www.computershare.com/Rio-AlcanBelgianofferdocument.




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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