FORM 425

Filed by: BHP Billiton Plc

and BHP Billiton Limited

Pursuant to Rule 425 under the Securities Act of 1933

Subject Company: Rio Tinto plc

Commission File No.: 001-10533

The following are slides comprising a presentation that was given by Marius Kloppers, Chief Executive Officer, BHP Billiton to the Merrill Lynch Global Metals, Mining & Steel Conference on May 13, 2008, and was subsequently amended to edit footnotes ‘d’, ‘e’ and ‘f’ on slide 8. The amended version of this presentation has been posted to www.bhpbilliton. com, replacing the version that was originally posted there.


Merrill Lynch Global Metals, Mining & Steel
Conference
BHP Billiton:  Resourcing the Future
Marius Kloppers, Chief Executive Officer
13 May 2008


Slide 1
Disclaimer
This
document
has
been
prepared
by
BHP
Billiton
Limited
and
BHP
Billiton
Plc
(“BHP
Billiton")
and
comprises
the
written
materials/slides
for
a
presentation
concerning
BHP
Billiton's
offers
for
Rio
Tinto
Limited
and
Rio
Tinto
plc
(“Rio
Tinto”).
By
reviewing/attending
this
presentation
you
agree
to
be
bound
by
the
following
conditions.
The
directors
of
BHP
Billiton
accept
responsibility
for
the
information
contained
in
this
presentation.
Having
taken
all
reasonable
care
to
ensure
that
such
is
the
case,
the
information
contained
in
this
presentation
is,
to
the
best
of
the
knowledge
and
belief
of
the
directors
of
BHP
Billiton,
in
accordance
with
the
facts
and
contains
no
omission
likely
to
affect
its
import.
Subject to the above, neither BHP Billiton nor any of its directors, officers, employees or advisers nor any other person makes any representation or warranty, express or implied, as to, and
accordingly no reliance should be placed on, the fairness, accuracy or completeness of the information contained in the presentation or of the views given or implied.  To the extent permitted by
law, neither BHP Billiton nor any of its directors, officers, employees or advisers nor any other person shall have any liability whatsoever for any errors or omissions or any loss howsoever arising,
directly or indirectly, from any use of this information or its contents or otherwise arising in connection therewith.
This presentation is for information purposes only and does not constitute or form part of any offer or invitation to acquire, sell or otherwise dispose of, or issue, or any solicitation of any offer to sell
or
otherwise
dispose
of,
purchase
or
subscribe
for,
any
securities,
nor
does
it
constitute
investment
advice,
nor
shall
it
or
any
part
of
it
nor
the
fact
of
its
distribution
form
the
basis
of,
or
be
relied
on
in connection with, any contract or investment decision, nor does it constitute a proposal to make a takeover bid or the solicitation of any vote or approval in any jurisdiction, nor shall there be any
sale
of
securities
in
any
jurisdiction
in
which
such
offer,
solicitation
or
sale
would
be
unlawful
prior
to
registration
or
qualification
under
the
securities
laws
of
any
such
jurisdiction
(or
under
an
exemption from such requirements).  No offering of securities shall be made into the United States except pursuant to registration under the US Securities Act of 1933, as amended, or an
exemption therefrom.
Neither this presentation nor any copy of it may be taken or transmitted or distributed or redistributed (directly or indirectly) in Japan.  The distribution of this document in other jurisdictions may be
restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions.
Information
about
Rio
Tinto
is
based
on
public
information
which
has
not
been
independently
verified.
This presentation is directed only at persons who (i) are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc.") of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (ii) have professional experience in matters relating to investments falling within Article 19(5) of the Order or (iii)
are outside the United Kingdom (all such persons being referred to as "relevant persons").  This presentation must not be acted on or relied on by persons who are not relevant persons.
Certain statements in this presentation are forward-looking statements.  The forward-looking statements include statements regarding contribution synergies, future cost savings, the cost and
timing of development projects, future production volumes, increases in production and infrastructure capacity, the identification of additional mineral Reserves and Resources and project lives
and, without limitation, other statements typically containing words such as "intends", "expects", "anticipates", "targets", "plans", "estimates" and words of similar import. These forward-looking
statements speak only as at the date of this presentation.  These statements are based on current expectations and beliefs and, by their nature, are subject to a number of known and unknown
risks and uncertainties that could


Slide 2
Disclaimer (continued)
cause actual results, performance and achievements to differ materially from any expected future results, performance or achievements expressed or implied by such forward-looking statements. 
The forward-looking statements are based on numerous assumptions regarding BHP Billiton's present and future business strategies and the environments in which BHP Billiton and Rio Tinto will
operate in the future and such assumptions may or may not prove to be correct.
There
are
a
number
of
factors
that
could
cause
actual
results
or
performance
to
differ
materially
from
those
expressed
or
implied
in
the
forward-looking
statements.
Factors
that
could
cause
actual
results
or
performance
to
differ
materially
from
those
described
in
the
forward-looking
statements
include,
but
are
not
limited
to,
BHP
Billiton's
ability
to
successfully
combine
the
businesses
of
BHP
Billiton
and
Rio
Tinto
and
to
realise
expected
synergies
from
that
combination,
the
presence
of
a
competitive
proposal
in
relation
to
Rio
Tinto,
satisfaction
of
any
conditions
to
any
proposed
transaction,
including
the
receipt
of
required
regulatory
and
anti-trust
approvals,
Rio
Tinto’s
willingness
to
enter
into
any
proposed
transaction,
the
successful
completion
of
any
transaction,
as
well
as
additional
factors
such
as
changes
in
global,
political,
economic,
business,
competitive,
market
or
regulatory
forces,
future
exchange
and
interest
rates,
changes
in
tax
rates,
future
business
combinations
or
dispositions
and
the
outcome
of
litigation
and
government
actions.
Additional
risks
and
factors
that
could
cause
BHP
Billiton
results
to
differ
materially
from
those
described
in
the
forward-looking
statements
can
be
found
in
BHP
Billiton's
filings
with
the
US
Securities
and
Exchange
Commission
(the
"SEC"),
including
BHP
Billiton's
Annual
Report
on
Form
20-F
for
the
fiscal
year-ended
June
30,
2007,
and
Rio
Tinto’s
filings
with
the
SEC,
including
Rio
Tinto’s
Annual
Report
on
Form
20-F
for
the
fiscal
year-ended
December
31,
2007,
which
are
available
at
the
SEC's
website
(http://www.sec.gov).
Other
unknown
or
unpredictable
factors
could
cause
actual
results
to
differ
materially
from
those
in
the
forward-looking
statements.
The
information
and
opinions
expressed
in
this
presentation
are
subject
to
change
without
notice
and
BHP
Billiton
expressly
disclaims
any
obligation
(except
as
required
by
law
or
the
rules
of
the
UK
Listing
Authority
and
the
London Stock
Exchange,
the
UK
Takeover
Panel,
or
the
listing
rules
of
ASX
Limited)
or
undertaking
to
disseminate
any
updates
or
revisions
to
any
forward-looking
statements
contained
herein
to
reflect
any
change
in
BHP
Billiton’s
expectations
with
regard
thereto
or
any
change
in
events,
conditions
or
circumstances
on
which
any
such
statement
is
based.
None
of
the
statements
concerning
expected
cost
savings,
revenue
benefits
(and
resulting
incremental
EBITDA)
and
EPS
accretion
in
this
presentation
should
be
interpreted
to
mean
that
the
future
earnings
per
share
of
the
enlarged
BHP
Billiton
group
for
current
and
future
financial
years
will
necessarily
match
or
exceed
the
historical
or
published
earnings
per
share
of
BHP
Billiton,
and
the
actual
estimated
cost
savings
and
revenue
benefits
(and
resulting
EBITDA
enhancement)
may
be
materially
greater
or
less
than
estimated.
The
SEC
generally
permits
mining
companies
in
their
filings
with
the
SEC
to
disclose
only
those
mineral
deposits
that
the
company
can
economically
and
legally
extract.
Certain
terms
in
this
presentation,
including
“resource",
would
not
generally
be
permitted
in
an
SEC
filing.
The
material
denoted
by
such
terms
is
not
proven
or
probable
Reserves
as
such
terms
are
used
in
the
SEC's
Industry
Guide
7,
and
there
can
be
no
assurance
that
BHP
Billiton
will
be
able
to
convert
such
material
to
proven
or
probable
Reserves
or
extract
such
material
economically.
BHP
Billiton
urges
investors
to
refer
to
its
Annual
Report
on
Form
20-F
for
the
fiscal
year
ended
June
30,
2007,
for
its
most
recent
statement
of
mineral
Reserves
calculated
in
accordance
with
Industry
Guide
7.
Information
Relating
to
the
US
Offer
for
Rio
Tinto
plc
BHP Billiton plans to register the offer and sale of securities it would issue to Rio Tinto plc US shareholders and Rio Tinto plc ADS holders by filing with the SEC a Registration Statement (the
“Registration Statement”), which will contain a prospectus (the “Prospectus”), as well as other relevant materials.  No such materials have yet been filed.  This communication is not a substitute for
any Registration Statement or Prospectus that BHP Billiton may file with the SEC.
U.S.
INVESTORS
AND
U.S.
HOLDERS
OF
RIO
TINTO
PLC
SECURITIES
AND
ALL
HOLDERS
OF
RIO
TINTO
PLC
ADSs
ARE
URGED
TO
READ
ANY
REGISTRATION
STATEMENT,
PROSPECTUS
AND
ANY
OTHER
DOCUMENTS
MADE
AVAILABLE
TO
THEM
AND/OR
FILED
WITH
THE
SEC
REGARDING
THE
POTENTIAL
TRANSACTION,
AS
WELL
AS
ANY
AMENDMENTS
AND
SUPPLEMENTS
TO
THOSE
DOCUMENTS,
WHEN
THEY
BECOME
AVAILABLE
BECAUSE
THEY
WILL
CONTAIN
IMPORTANT
INFORMATION.
Investors
and
security
holders
will
be
able
to
obtain
a
free
copy
of
the
Registration
Statement
and
the
Prospectus
as
well
as
other
relevant
documents
filed
with
the
SEC
at
the
SEC's
website
(http://www.sec.gov),
once
such
documents
are
filed
with
the
SEC.
Copies
of
such
documents
may
also
be
obtained
from
BHP
Billiton
without
charge,
once
they
are
filed
with
the
SEC.


Slide 3
Disclaimer (continued)
Information
for
US
Holders
of
Rio
Tinto
Limited
Shares
BHP
Billiton
Limited
is
not
required
to,
and
does
not
plan
to,
prepare
and
file
with
the
SEC
a
registration
statement
in
respect
of
the
Rio
Tinto
Limited
Offer.
Accordingly,
Rio
Tinto
Limited
shareholders
should
carefully
consider
the
following:
The
Rio
Tinto
Limited
Offer
will
be
an
exchange
offer
made
for
the
securities
of
a
foreign
company.
Such
offer
is
subject
to
disclosure
requirements
of
a
foreign
country
that
are
different
from
those
of
the
United
States.
Financial
statements
included
in
the
document
will
be
prepared
in
accordance
with
foreign
accounting
standards
that
may
not
be
comparable
to
the
financial
statements
of
United
States
companies.
Information
Relating
to
the
US
Offer
for
Rio
Tinto
plc
and
the
Rio
Tinto
Limited
Offer
for
Rio
Tinto
shareholders
located
in
the
US
It may
be
difficult
for
you
to
enforce
your
rights
and
any
claim
you
may
have
arising
under
the
U.S.
federal
securities
laws,
since
the
issuers
are
located
in
a
foreign
country,
and
some
or
all
of
their
officers
and
directors
may
be
residents
of
foreign
countries.
You
may
not
be
able
to
sue
a
foreign
company
or
its
officers
or
directors
in
a
foreign
court
for
violations
of
the
U.S.
securities
laws.
It
may
be
difficult
to
compel
a
foreign
company
and
its
affiliates
to
subject
themselves
to
a
U.S.
court's
judgment.
You
should
be
aware
that
BHP
Billiton
may
purchase
securities
of
either
Rio
Tinto
plc
or
Rio
Tinto
Limited
otherwise
than
under
the
exchange
offer,
such
as
in
open
market
or
privately
negotiated
purchases.
References
in
this
presentation
to
“$”
are
to
United
States
dollars
unless
otherwise
specified.


Slide 4
Resourcing the future
Industry outlook and growth
Our strategy and management philosophy
Growth drivers
Conclusion


Slide 5
Demand growth expected to continue
Finished steel consumption
(kg/capita)
Source: World Bank; Government Statistics for Taiwan; IISI
GDP/Capita (Jan. 2008 Constant US Dollars)
0
200
400
600
800
1,000
1,200
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
50,000
China
India
Japan
Korea, Rep.
United States
Taiwan


Slide 6
0
200
400
600
800
1,000
1,200
1,400
1997
2007
0
2,000
4,000
6,000
8,000
10,000
12,000
1996
2006
China's resource demand is not limited to steel
0
150
300
450
600
750
900
1997
2007
0
3,000
6,000
9,000
12,000
15,000
18,000
1997
2007
Copper consumption (kt)
Nickel consumption (kt)
Imported Iron ore (mt)
Energy consumption (mtoe)
China
USA
Other
Notes:
Seaborne
iron
ore
demand
based
on
import
statistics
-
CRU
data
for
2007,
IISI
data
for
1997.
Energy
consumption
is
all
uses
of
coal,
gas,
oil
and
nuclear,
expressed
as
millions
tonnes
of
oil
equivalent,
2007 data not yet available.
Source:  CRU, Brook Hunt, BP Statistical Review of World Energy (2007), IISI.


Slide 7
14
2008
2010
2012
2014
18
20
22
24
2016
2020
2018
12
16
0
Risk that copper supply gap will widen
Source: BHP Billiton; McKinsey analysis
Includes  projects classified by Brook Hunt as probable
Demand at
mine level
Production from
existing mines
Additional probable
brownfield production
Demand unmet by
brownfield
Additional
probable brownfields
Contained Copper
Mt
Current mines


Slide 8
Significant price increases across all product groups
552%
512%
337%
Met. Coal
Manganese
Iron Ore
421%
228%
90%
Copper
Nickel
Aluminium
491%
346%
163%
Uranium
Oil
Energy Coal
a)
Hard coking coal based
on
Peak
Downs/Goonyella/Hay
Point
FOB.
JFY2008
forecast
prices
calculated
based
on
206-240%
increase
above
JFY2007
benchmark
per
BHP
Billiton
announcement
9-Apr-2008.
b)
Manganese based on GEMCO lump ore contract FOB. JFY2008 prices based on recent manganese spot price settlement reported in the Tex Report on 12-Feb-2008.
c)
Iron
ore
based
on
benchmark
FOB
prices.
JFY2008
forecast
prices
calculated
based
on
65-71%
increase
above
JFY2007
benchmark
per
Vale
settlement
for
Itabira
fines.
d)
Copper listed on the London Metal Exchange (LME)
e)
Nickel listed on the London Metal Exchange (LME)
f)
Aluminium listed on the London Metal Exchange (LME)
g)
Uranium NEUXCO spot prices
h)
WTI Crude Oil listed on the New York Mercantile Exchange (NYMEX)
i)
Energy Coal (Powder River Basin)
Carbon Steel Materials
Non-Ferrous
Energy
(a)
(b)
(c)
(d)
(e)
(f)
(g)
(h)
(i)


Slide 9
Resourcing the future
Industry outlook and growth
Our strategy and management philosophy
Growth drivers
Conclusion


Slide 10
Maintaining our commitment to our core strategy
Focus on Tier 1 assets that are large, low-cost, expandable and consistently profitable
Upstream focus and export-oriented commodities
A deep inventory of growth options
Portfolio diversified by commodity, geography and customer
Overriding commitment to ethics, safety, environment and community engagement
Employer of choice and a preferred partner


Slide 11
100
110
120
130
140
150
160
We have a strong track record of growth and delivery
Production Growth 20012007
(a)
(Index:
FY2001
production =
100)
BHP Billiton Ltd
(b)
(Index:
Jun-2001
=
100)
FY05
FY04
FY03
FY07
FY02
FY06
BHP Billiton
CAGR 8%
Source: BHP Billiton production, interim and annual reports
a)
Production shown for the comparable 12 months ending 30-June for BHP Billiton. Converted to copper equivalent units using BHP Billiton FY2007 average realised prices and BHP Billiton estimates.
b)
Source: IRESS. As at 31-Oct-2007. Total Shareholder Return (“TSR”) calculated as the increase in share value including dividends reinvested at the date of receipt. Assumes Bluescope Steel shares
received by BHP Billiton Ltd shareholders in July 2002 were immediately sold with proceeds reinvested in BHP Billiton Ltd. BHP Billiton Ltd TSR 30% CAGR, 433% cumulative growth
c) 31-Oct-07 is the last undisturbed trading date for Rio Tinto prior to the BHP Billiton proposal
BHP Billiton
CAGR 30%
0
100
200
300
400
500
600
Jun-01
Jul-02
Jul-03
Aug-04
Aug-05
Sep-06
Oct-07
4.2
31-Dec-02
23.0
31-Dec-03
28.3
31-Dec-04
51.0
31-Dec-05
13.3
31-Dec-06
85.2
31-Oct-07
(c)
%
Period
Ended
Total BHP    Shareholder
Return
(b)


Slide 12
Corporate centre focuses on the things that matter
Ensures delivery of key directives including Zero
Harm, reputation & ethics
Monitors and measures business performance
Corporate Centre
Responsible for managing operations and delivering
efficiency
Delivers key directives
Plans and delivers down to EBIT level
Business Units
To deliver our strategy at scale we need a simple, accountable
organisation with global talent


Slide 13
Our globally diversified workforce enables deep
understanding of operating contexts
Office location
GMC
…located in offices
across the world
Our leadership team is
diversified across a
wide range of
nationalities…
Business
Presidents


Slide 14
Resourcing the future
Industry outlook and growth
Our strategy and management philosophy
Growth drivers
Conclusion


Slide 15
Our portfolio is diversified and balanced across high
margin commodities
Underlying EBITDA
(12 months, US$bn)
Underlying EBITDA Margin
(a)
(CY2007, 12 months)
Note: Historical financial information has been restated for comparative purposes per note 1 of BHP Billiton’s half-year financial report for the half-year ended 31-Dec-2007. CY2007 represents the 12 months ending 31-Dec-2007.
FY2002 EBITDA numbers are presented in accordance with UK GAAP whereas CY2007 is based on IFRS (so underlying EBITDA).
a) EBITDA margin excludes third party sales.
Iron ore
75%
Manganese
Energy coal
Metallurgical coal
52%
52%
Diamond and
specialty products
Base metals
40%
43%
36%
Petroleum
70%
Stainless
steel materials
Aluminium
34%
23%
0
6,000
12,000
18,000
24,000
FY2002
CY2007
4,677
23,623
Iron Ore
Manganese
Met. Coal
Petroleum
Energy Coal
Aluminium
Base Metals
Stainless
Steel
Diamond & Specialty Products
Non
ferrous
(56%)
Energy
(21%)
Carbon
Steel
Materials
(22%)


Slide 16
Boffa/Santou
Refinery
2010
As at 2 May 2008
Proposed capital expenditure
SSM
Energy Coal
D&SP
Iron Ore
Base Metals
Petroleum
Met Coal
CSG
Manganese
Aluminium
2008
Execution
Pyrenees
Samarco
Neptune
Shenzi
Alumar
Atlantis
North
Klipspruit
GEMCO
Zamzama
Phase 2
2013
Feasibility
Guinea
Alumina
Worsley
E&G
Perseverance
Deeps
Maruwai
Stage 1
Douglas-
Middelburg
Mt Arthur
Coal UG
Future Options
Cliffs
Newcastle
Third Port
NWS
Angel
Nimba
Ekati
Canadian
Potash
WA Iron Ore
Quantum 1
CW Africa
Exploration
Angola
& DRC
WA Iron Ore
RGP 5
WA Iron Ore
Quantum 2
Macedon
Turrum
CMSA Heap
Leach 1
NWS
CWLH
Peak Downs
Exp
DRC
Smelter
Mad Dog
West
KNS
Exp
Hallmark
Corridor
Sands 1
Puma
Cerrejon
Opt Exp
Angostura
Gas
NWS
T5
Our Tier 1 project growth pipeline is attractive
Navajo
Sth
Bakhuis
Maruwai
Stage 2
NWS Nth
Rankin B
WA Iron Ore
RGP 4
Kipper
Antamina
Exp
Goonyella
Expansions
Olympic Dam
Expansion 3
Corridor
Sands 2
Knotty
Head
Maya
Nickel
Gabon
Daunia
RBM
Olympic Dam
Expansion 2
Browse
LNG
Resolution
Saraji
Thebe
CMSA
Pyro Expansion
Cannington
Life Ext
SA Mn
Ore Exp
Wards
Well
Eastern
Indonesian
Facility
NWS
WFGH
Blackwater
UG
Olympic Dam
Expansion 1
CMSA Heap
Leach 2
Escondida
3rd Conc
Red Hill
UG
GEMCO
Exp
Samarco 4
Shenzi
Nth
Neptune
Nth
MKO
Talc
Scarborough
Caroona
Kennedy
$2bn+
$501m-$2bn
<$500m


Slide 17
Source:  BHP Billiton  2007 Annual Report, 2008 Interim Financial Results Announcement, Goldman Sachs JBWere Research
Note:
(a)
Iron equivalent production based on coking coal and manganese production converted to iron ore equivalent tons. Prices estimated by dividing CY 2007 revenue by CY 2007production. Includes production and 
EBIT from Iron Ore, Coking Coal and Manganese. Production calculated on BHP Billiton figures for the last twelve months, calendarised to 31-Dec-2007.
Our Carbon Steel Materials assets are Tier 1
Significant producer of Carbon
Steel Materials (Iron Ore, Coking
Coal and Manganese)
Resource and mineralisation that
supports production for more than
50 years in both Coking Coal and
Iron Ore
Large high grade ore bodies,
concentrated around key
infrastructure
Very low cost curve position and
close proximity to Asian growth
market
First class project development
and production growth record
Attractive infrastructure
Iron Ore
Coking Coal
Manganese
27.4
103.5
62.5
Iron ore equivalent
(a)
production
(mt) (CY 2007)
193.3
1.1
0.6
3.0
4.7
Underlying EBIT
(12 months, US$bn)


Slide 18
We are a significant independent petroleum player with a
strong growth pipeline
Source: BHP Billiton estimates
Key growth pipeline
Project
Stybarrow
Genghis Khan
Atlantis
Zamzama
Neptune
Train 5 NWS
LNG
Shenzi
Pyrenees
Stage
Online
Online
Online
Online
2Q CY2008
Expansion late
2008
Start up mid-2009
Start-up 2010
BHP Billiton
% interest
50.00
44.00
44.00
38.50
35.00
16.67
44.00
71.43
Significant further growth options in Gulf of
Mexico (U.S.), and Western Australia
0
50
100
150
200
FY07
FY08E
FY09E
FY10E
FY11E
Liquid
Gas
Petroleum net production forecast
(mmboe/yr)


Slide 19
0
200
400
600
800
1,000
1,200
1,400
1,600
FY91
FY92
FY93
FY94
FY95
FY96
FY97
FY98
FY99
FY00
FY01
FY02
FY03
FY04
FY05
FY06
FY07
FY08
Escondida
Norte +
Sulphide Leach
Phase IV + Laguna
Seca Concentrator
Oxide Plant Expansion
Phase 3.5 +
Oxide Plant
Phase III 
Phase I + II 
Copper production at Escondida
(Tonnes, 000)
Source: BHP Billiton estimates
The value of Tier 1 assets is the ability to expand production
Original plan: 320kt of copper a year


Slide 20
20
180
150
190
190
730
Staged development of Olympic Dam will unlock
significant value
Staged development . . .
4.0 +
0.5
4.5
5
5
= 19
100 +
20
280
200
200
= 800
(a) Does not include silvers approximate $1 per tonne
Source:Resources, metal grades and recover rates obtained from the BHP Billiton FY2007 Annual Report. Prices as at 30 April 2008 as per Financial Times
Copper
kt p.a.
Gross average revenue yield per tonne
of resource
(a)
(US$)
. . . of an incredibly rich resource
29
Olympic Dam
Escondida
71
106
6
33
Uranium
kt p.a.
Gold
koz p.a.
Staged development concept -
forecast production at each stage
Expansion stages
1.2&1.3
1.1
2.0
3.0
Today
Full
produc-
tion


Slide 21
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
CY 07
CY 08
CY 09
CY 10
CY 11
CY 12
BHP Billiton has an attractive growth profile of significant
scale
Copper Equivalent Tonnes '000
Production in copper equivalent tonnes
Source: BHP Billiton analysis.
Similar methodology as per Rio Tinto 13 February 2008 presentation on an unrisked basis.
CAGR 6.9%
Estimate


Slide 22
47%
37%
29%
64%
47%
37%
61%
14%
Iron Ore
Manganese
Met Coal
Copper
Stainless
Steel
Materials
Aluminium
Petroleum
Energy Coal
BHP Billiton’s growth is focused on high margin commodities
Source: BHP Billiton analysis. EBIT margin excludes third party trading.
Note:  BHP Billiton margins are actual CY07 margins.
Carbon Steel Materials
Non-Ferrous
Energy


Slide 23
Resourcing the future
Industry outlook and growth
Our strategy and management philosophy
Growth drivers
Conclusion


Slide 24
Conclusion –
Strength, stability and growth
Strong pricing fundamentals due to increased demand and lagging supply
BHP Billiton’s strategy is unchanged -
a diversified upstream portfolio of Tier 1, large,
low-cost, expandable assets
BHP Billiton is well positioned to continue to create strong value for shareholders with a
large project pipeline, focussed on high margin investments, which will deliver strong
growth
The Rio Tinto acquisition can generate additional value for both
sets of shareholders and
is strongly aligned with BHP Billiton’s strategy and management philosophy of simplicity,
accountability and global talent
The combined organisation would deliver:
More production, faster and lower cost, an enhanced set of future growth options
and quantifiable synergies -
$3.7B in incremental EBITDA by year 7
A compelling 45% premium for Rio Tinto shareholders and participation in the
world’s largest mining company