UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 11-K
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ANNUAL REPORT PURSUANT TO SECTION 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
(Mark one)
[X] ANNUAL report pursuant to Section 15(d) of the Securities Exchange Act of
1934
For Fiscal year ended December 31, 2004
or
[ ] Transition report pursuant to Section 15(d) of the Securities Exchange Act
(No fee required)
For the transition period from _________ to ___________
Commission file number 001-10533
A. Full title of the plan and the address of the plan, if different from that of
the issuer named below:
RIO TINTO AMERICA INC. SAVINGS PLAN
B. Name of issuer of the securities held pursuant to the Plan and the address of
its principal executive office:
Rio Tinto plc, 6 St. James's Square, London, SW1Y 4LD, England
Page 1 of 21
RIO TINTO AMERICA INC.
SAVINGS PLAN
FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULE
AS OF DECEMBER 31, 2004 AND 2003 AND FOR THE YEAR
ENDED DECEMBER 31, 2004
TOGETHER WITH REPORTS OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRMS
Page 2 of 21
RIO TINTO AMERICA INC.
SAVINGS PLAN
Table of Contents
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Page
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Report of Independent Registered Public Accounting Firm (Tanner LC) 4
Report of Independent Registered Public Accounting Firm
(PricewaterhouseCoopers LLP) 5
Financial Statements:
Statements of Assets Available for Benefits as of
December 31, 2004 and 2003 6
Statement of Changes in Assets Available for Benefits
for the year ended December 31, 2004 7
Notes to Financial Statements 8 - 15
Supplemental Schedule - Schedule H, Part IV, line 4i -
Schedule of Assets (Held at End of Year) as of December 31, 2004 16 - 17
All other schedules required by Section 2520.103-10 of the Department of Labor's
Rules and Regulations for Reporting and Disclosure under the Employee Retirement
Income Security Act of 1974 have been omitted because they are not applicable to
the Rio Tinto America Inc. Savings Plan.
Page 3 of 21
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Rio Tinto America Inc. Savings Plan Investment Committee
and the Rio Tinto America Inc. Benefits Committee
Rio Tinto America Inc. Savings Plan
We have audited the accompanying statement of assets available for benefits of
the Rio Tinto America Inc. Savings Plan (the Plan) as of December 31, 2004 and
the related statement of changes in assets available for benefits for the year
then ended. These financial statements are the responsibility of the Plan's
management. Our responsibility is to express an opinion on these financial
statements based on our audit.
We conducted our audit in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the assets available for benefits of the Rio Tinto
America Inc. Savings Plan as of December 31, 2004, and the changes in assets
available for benefits for the year then ended in conformity with U.S. generally
accepted accounting principles.
Our audit of the financial statements was performed for the purpose of forming
an opinion on the basic financial statements taken as a whole. The supplemental
Schedule of Assets (Held at End of Year) as of December 31, 2004 is presented
for the purpose of additional analysis and is not a required part of the basic
financial statements, but is supplementary information required by the United
States Department of Labor's Rules and Regulations for Reporting and Disclosure
under the Employee Retirement Income Security Act of 1974. The supplemental
schedule has been subjected to the auditing procedures applied in the audit of
the basic financial statements and, in our opinion, is fairly stated in all
material respects in relation to the basic financial statements taken as a
whole.
/s/ Tanner LC
Salt Lake City, Utah
February 22, 2006
Page 4 of 21
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Participants and Administrator of
the Rio Tinto America Inc. Savings Plan
In our opinion, the accompanying statement of assets available for
benefits presents fairly, in all material respects, the assets available for
benefits of the Rio Tinto America Inc. Savings Plan (the "Plan") at December 31,
2003, in conformity with accounting principles generally accepted in the United
States of America. This financial statement is the responsibility of the Plan's
management. Our responsiblity is to express an opinion on this financial
statement based on our audit. We conducted our audit of this statement in
accordance with the standards of the Public Company Accounting Oversight Board
(United States). Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements, assessing
the accounting principles used and significant estimates made by management, and
evaluating the overall financial statement presentation. We believe that our
audit provides a reasonable basis for our opinion.
/s/ PricewaterhouseCoopers LLP
PricewaterhouseCoopers LLP
Salt Lake City, Utah
September 23, 2005
Page 5 of 21
RIO TINTO AMERICA INC. SAVINGS PLAN
STATEMENTS OF ASSETS AVAILABLE FOR BENEFITS
December 31,
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2004 2003
--------------------------------
Assets
Investments (note 2) $399,342,069 $365,814,328
--------------------------------
Receivables:
Employee contributions 23,887 42,809
Employer contributions 14,387 23,338
--------------------------------
Total receivables 38,274 66,147
--------------------------------
Assets available for benefits $399,380,343 $365,880,475
================================
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See accompanying notes to financial statements.
Page 6 of 21
RIO TINTO AMERICA INC. SAVINGS PLAN
STATEMENT OF CHANGES IN ASSETS AVAILABLE FOR BENEFITS
YEAR ENDED DECEMBER 31, 2004
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ADDITIONS TO ASSETS ATTRIBUTED TO:
Transfer from the U.S. Borax Inc. 401(k) Plan for Hourly
Employees $ 286,993
------------
Contributions:
Employee 19,026,033
Employer 9,943,511
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Total contributions 28,969,544
------------
Investment income:
Net appreciation in fair value of investments 24,729,306
Interest and dividends 9,857,741
------------
Total investment income 34,587,047
------------
Total additions 63,843,584
------------
DEDUCTIONS FROM ASSETS ATTRIBUTED TO:
Benefits paid to participants 30,343,694
Administrative expenses 22
------------
Total deductions 30,343,716
------------
Increase in assets available for benefits 33,499,868
ASSETS AVAILABLE FOR BENEFITS:
Beginning of year 365,880,475
------------
End of year $399,380,343
============
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See accompanying notes to financial statements.
Page 7 of 21
RIO TINTO AMERICA INC. SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
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1. DESCRIPTION OF The following brief description of the Rio Tinto
THE PLAN America Inc. Savings Plan (the Plan) is provided for
general information purposes only. Participants should
refer to the plan document and summary plan description
for more complete information.
GENERAL
The Plan is a defined contribution plan covering (1)
all non-represented employees of Rio Tinto America,
Inc. and its affiliates (collectively, the Company), as
defined in the Plan document, and (2) employees covered
by a collective bargaining agreement that provides for
Plan participation. All eligible full-time employees of
the Company can participate in the Plan immediately
upon employment. Temporary and part-time employees are
eligible after completing 1,000 hours of service during
a 12-month period. Rio Tinto America, Inc. is an
indirect wholly owned subsidiary of Rio Tinto plc (the
Parent). The Plan was created effective January 1,
2003, by a merger of the Kennecott Savings and
Investment Plan, the U.S. Borax Inc. Thrift Plan for
Salaried Employees, and the Luzenac America, Inc.
Investment Savings Plan. The Plan is intended to be a
qualified retirement plan under the Internal Revenue
Code (IRC) and is subject to the provisions of the
Employee Retirement Income Security Act of 1974
(ERISA), as amended.
CONTRIBUTIONS
Each year, participants may elect under a salary
reduction agreement to contribute to the Plan an amount
not less than 1% and not more than 50% of their
eligible compensation on a before-tax basis through
payroll deductions. Contributions are limited by the
IRC, which established a maximum contribution of
$13,000 ($16,000 for participants over age 50) for the
year ended December 31, 2004. Participants may also
elect to make an after-tax contribution not less than
1% and not more than 50% of their eligible
compensation. Total before-tax and after-tax
contributions cannot exceed 50% of participants'
eligible compensation. Participant contributions are
recorded in the period during which the amounts are
withheld from participant earnings. Participants may
also contribute amounts representing distributions from
other qualified defined benefit or defined contribution
plans.
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Page 8 of 21
RIO TINTO AMERICA INC. SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
CONTINUED
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1. DESCRIPTION OF The Company matches the participants' contributions to
THE PLAN the Plan at 100%, up to the first 6% of their eligible
Continued compensation, for all locations other than Luzenac
America, Inc. The Company matches the participants'
contributions to the Plan at 70%, up to the first 6% of
their eligible compensation, for Luzenac America, Inc.
employees other than the following: (1) hourly
employees of Luzenac America, Inc. at the Three Forks
Mill who are represented by the United Cement, Lime,
and Allied Workers' Division of the International
Brotherhood of Boilermakers and (a) who made
contributions after August 1, 2003 and prior to August
1, 2005 received a match of 45%, up to the first 6% of
eligible compensation; and (b) made contributions after
August 1, 2005 received a match of 50%, up to the first
6% of eligible compensation; and (2) hourly employees
of Luzenac America, Inc. at the Windsor Mine who are
represented by the United Cement, Lime, and Allied
Workers' Division of the International Brotherhood of
Boilermakers received a match of 25%, up to the first
6% of eligible compensation. Matching contributions are
recorded on the date the related participant
contributions are withheld.
PARTICIPANT ACCOUNTS
Individual accounts are maintained for each Plan
participant. Each participant's account is credited
with the participant's contributions, the Company's
matching contribution, and an allocation of the Plan's
earnings, and is charged with withdrawals and an
allocation of the Plan's losses and administrative
expenses. Allocations are based on participant earnings
or account balances, as defined. The benefit to which a
participant is entitled is the benefit that can be
provided from the participant's vested account.
PARTICIPANT-DIRECTED OPTIONS FOR INVESTMENTS
Participants direct the investment of their
contributions and the Company matching contributions
into various investment options offered by the Plan.
Investment options include a money market fund, common
collective trusts, mutual funds, guaranteed investment
contracts, synthetic guaranteed investment contracts
and common stock of the Parent in the form of American
Depository Receipts (ADRs).
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Page 9 of 21
RIO TINTO AMERICA INC. SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
CONTINUED
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1. DESCRIPTION OF VESTING
THE PLAN Participants are immediately vested in their
Continued contributions and Company matching contributions plus
actual earnings thereon.
PAYMENT OF BENEFITS
On termination of service due to death, disability, or
retirement, participants or their beneficiaries may
elect to receive lump-sum distributions or annual,
semi-annual, quarterly or monthly installments in
amounts equal to the value of the participants' vested
interests in their accounts. Under certain
circumstances, participants may withdraw their
contributions prior to the occurrence of these events.
TRANSFERS
Along with the Plan, the Company also sponsors other
401(k) plans that cover represented employees. If
employees are changed from union to non-union status
during the year, their account balances are transferred
from the union plan to this Plan. For the year ended
December 31, 2004, transfers from the U.S. Borax Inc.
401(k) Plan for Hourly Employees totaled $286,993.
FORFEITED ACCOUNTS
As of January 1, 2003, the effective date of the Rio
Tinto America Inc. Savings Plan, there was a balance in
the forfeiture account related to predecessor plans'
non-vested participant account balances. These amounts
may be used to reduce future Company contributions to
the Plan. During the year ended December 31, 2004, the
forfeiture account earned $3,407 and forfeitures
utilized to reduce Company contributions totaled
$64,583. Under the Plan document, forfeiture amounts
related to terminated participants are required to be
held for five years after termination in the event that
the individual is re-hired and becomes a participant
again. If the employee becomes a participant within
that five-year period, the service period resumes for
vesting of the participant's account. If the five-year
period expires, the forfeitures become available to
reduce future Company contributions to the Plan.
Additional forfeitures that became available for
general use for the year ended December 31, 2004
totaled $32,799. As of December 31, 2004 and 2003, the
balance in the forfeiture account was $32,460 and
$60,837, respectively.
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Page 10 of 21
RIO TINTO AMERICA INC. SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
CONTINUED
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2. SUMMARY OF BASIS OF PRESENTATION
SIGNIFICANT The financial statements of the Plan have been prepared
ACCOUNTING on the accrual basis of accounting.
POLICIES
USE OF ESTIMATES
The preparation of the Plan's financial statements in
conformity with U.S. generally accepted accounting
principles requires Plan management to make estimates
and assumptions that affect the reported amounts of
assets available for benefits at the date of the
financial statements, the changes in assets available
for benefits during the reporting period and, when
applicable, the disclosures of contingent assets and
liabilities at the date of the financial statements.
Actual results could differ from those estimates.
RISKS AND UNCERTAINTIES
The Plan provides for investments in securities that
are exposed to various risks, such as interest rate,
currency exchange rate, credit and overall market
fluctuation. Due to the level of risk associated with
certain investment securities, it is reasonably
possible that changes in the values of investment
securities will occur in the near term and that such
changes could materially affect participants' account
balances and the amounts reported in the statements of
assets available for benefits.
INVESTMENT VALUATION AND INCOME RECOGNITION
The Plan's investments are stated at fair value
(generally quoted market price) except for its
benefit-responsive guaranteed investment contracts,
which are valued at contract value (see Note 6). Shares
of mutual funds are valued at quoted market prices,
which represent the net asset value of shares held by
the Plan at year end. Participant loans are valued at
their outstanding balances, which approximate fair
values.
Purchases and sales of securities are recorded on a
trade-date basis. Interest income is recorded on an
accrual basis. Dividends are recorded on the
ex-dividend date.
The net appreciation (depreciation) in the fair value
of investments which includes realized gains (losses)
and unrealized appreciation (depreciation) on those
investments is presented in the statement of changes in
assets available for benefits of the Plan.
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Page 11 of 21
RIO TINTO AMERICA INC. SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
CONTINUED
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2. SUMMARY OF PAYMENTS OF BENEFITS
SIGNIFICANT Benefits payments are recorded when paid by the Plan.
ACCOUNTING
POLICIES ADMINISTRATIVE EXPENSES
Continued The Company pays the majority of the costs and expenses
incurred in administering the Plan.
The Plan has several fund managers that manage the
investments held by the Plan. During the year ended
December 31, 2004, the Company paid all investment
management fees related to the funds.
The investment management fees related to transaction
costs associated with the purchase or sale of Rio Tinto
plc ADRs are paid by the participants.
PARTICIPANT LOANS
Participants may borrow from the Plan up to a maximum
of $50,000 or 50% of their account balances, whichever
is less. Each loan is secured by the balance in the
participant's account and bears interest at a rate
commensurate with prevailing rates at the time funds
are borrowed, as determined by the Plan Administrators.
Loans originated during the year ended December 31,
2004 have interest rates set at prime plus one percent.
3. PARTIES-IN- Certain Plan investments are managed by Putnam
INTEREST Investments, the Plan trustee, therefore, these
TRANSACTIONS transactions are exempt party-in-interest transactions.
Fees paid by the Plan for investment management
services were included as a reduction of the return
earned on each fund.
Transactions associated with Rio Tinto plc ADRs are
considered exempt party-in-interest transactions
because Rio Tinto plc is the parent of the Company. As
of December 31, 2004 and 2003, the Plan held
139,657.081 and 131,144.968 shares, respectively, of
common stock of Rio Tinto plc, with a cost basis of
$10,620,880 and $9,050,396, respectively. During the
year ended December 31, 2004, the Plan recorded
dividend income of $365,587.
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Page 12 of 21
RIO TINTO AMERICA INC. SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
CONTINUED
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4. INVESTMENTS The Plan's investments that represented five percent or
more of the Plan's assets available for benefits as of
December 31, 2004 and 2003 are as follows:
2004 2003
----------------------
Putnam S&P 500 Index Fund $31,574,647 29,624,988
Dodge and Cox Stock Fund 25,328,751 15,598,101
Putnam International Equity
Fund 21,911,615 20,244,427
Putnam Fund for Growth
and Income 34,634,858 34,564,952
Putnam New Opportunities Fund 32,924,760 32,551,173
Putnam Voyager Fund 29,928,356 32,506,709
Monumental Life Insurance
Company Synthetic GIC 52,444,261 50,023,093
State Street Bank Synthetic
GIC 39,101,619 35,720,834
During the year ended December 31, 2004, the Plan's
investments (including gains and losses on investments
bought and sold, as well as held during the year)
appreciated in value as follows:
Mutual funds $20,403,473
Common stock 1,266,189
Common collective trusts 3,059,644
-----------
Net appreciation in investments $24,729,306
===========
5. PLAN TERMINATION Although it has not expressed any intention to do so,
the Company has the right under the Plan to discontinue
its contributions at any time and to terminate the Plan
subject to the provisions set forth in ERISA.
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Page 13 of 21
RIO TINTO AMERICA INC. SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
CONTINUED
--------------------------------------------------------------------------------
6. GUARANTEED The Plan's guaranteed investment contracts are in a
INVESTMENT stable value fund. The guaranteed investment contracts
CONTRACTS are fully benefit-responsive and are stated at con-
tract value (which represents contributions made under
the contract, plus interest earned, less withdrawals
and administrative expenses). The stable value fund is
invested in a money market fund, a common collective
trust (the SEI Stable Asset Fund), guaranteed
investment contracts (GICs), and synthetic GICs. The
synthetic GICs are secured by underlying fixed income
assets. The average crediting interest rates on the
investment contracts were 4.61% and 4.71% for the years
ended December 31, 2004 and 2003, respectively. Average
duration for all investment contracts was 3.01 years
and 3.00 years at December 31, 2004 and 2003,
respectively. The average yield was 4.63% and 4.71% for
the years ended December 31, 2004 and 2003,
respectively. There are no reserves against the
contract value for credit risk of the contracted issuer
or otherwise.
The contract or crediting interest rates for certain
stable value investment contracts are reset quarterly
and are based on the market value of the portfolio of
assets underlying these contracts. Inputs used to
determine the crediting interest rates include each
contract's portfolio market value, current
yield-to-date maturity, duration and market value
relative to contract value. With respect to interest
rate resets, all contracts are guaranteed that the
rates will not be negative.
A synthetic GIC provides for a guaranteed return on
principal over a specified period of time through fully
benefit-responsive wrap contracts issued by a third
party which are backed by underlying assets. The
portfolio of assets underlying the synthetic GICs has
an overall AAA credit quality and includes mortgages,
fixed income securities and United States treasury
notes and bonds. These wrap contracts provide benefits
withdrawals and investment exchanges at the full
contract value of the synthetic contracts (principal
plus accrued interest) notwithstanding the actual
market value of the underlying investments (fair value
plus accrued interest).
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Page 14 OF 20
RIO TINTO AMERICA INC. SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
CONTINUED
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6. GUARANTEED Wrap contracts are designed to smooth out the impact of
INVESTMENT normal market fluctuations associated with the
CONTRACTS performance of the underlying investments. The fair
Continued value of the synthetic GICs was $93,709,918 and
$88,937,537 as of December 31, 2004 and 2003,
respectively. The contract value of the synthetic GICs
included $2,164,038 and $3,193,610 as of December 31,
2004 and 2003, respectively, attributable to the wrap
contract providers representing the amounts by which
the value of the contracts is less than the value of
the underlying assets.
7. INCOME TAX The Plan does not have a determination letter from the
STATUS Internal Revenue Service informing it that the Plan and
related trust are designed in accordance with the
applicable requirements of the Internal Revenue Code.
However, the Plan Administrator and the Plan's legal
counsel believe that the Plan is currently designed and
being operated in compliance with the applicable
requirements of the Internal Revenue Code. Therefore,
no provision for income taxes has been included in the
Plan's financial statements.
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Page 15 OF 20
RIO TINTO AMERICA INC.
SAVINGS PLAN
EMPLOYER IDENTIFICATION NUMBER: 11-3359689
PLAN NUMBER: 002
SCHEDULE H, PART IV, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2004
-----------------------------------------------------------------------------------------------------------------------------------
(a) (b) (c) (d) (e)
PARTY IN NUMBER OF CURRENT
INTEREST IDENTITY OF ISSUE DESCRIPTION OF INVESTMENT UNITS COST VALUE
---------- --------------------- ---------------------------------------------- ----------- -------- -------------------
MONEY MARKET FUND:
Mellon Bank Mellon Bank - STIF Account 1,160,286 ** $ 1,160,286
--------------
COMMON COLLECTIVE TRUSTS:
SEI Investments SEI Stable Asset Fund ** 11,905,589
* Putnam Putnam S&P 500 Index Fund 1,027,488 ** 31,574,647
--------------
Total Common Collective Trusts 43,480,236
--------------
MUTUAL FUNDS:
Managers Managers Special Equity Fund 116,006 ** 10,488,064
Dreyfus Dreyfus Mid-Cap Value Fund 438,823 ** 14,239,808
PIMCO PIMCO Total Return Fund 1,484,117 ** 15,835,529
Morgan Stanley MSDW Institutional International Equity Fund 404,428 ** 8,488,945
Dodge and Cox Dodge and Cox Stock Fund 194,507 ** 25,328,751
UAM Trust Company UAM/ICM Small Company Fund 303,967 ** 11,155,604
* Putnam Putnam Asset Allocation: Growth Fund 548,985 ** 6,137,657
* Putnam Putnam Asset Allocation: Balanced Fund 759,950 ** 8,070,665
* Putnam Putnam Asset Allocation: Conservative Fund 450,273 ** 4,115,500
* Putnam Putnam International Equity Fund 920,269 ** 21,911,615
* Putnam Putnam Investors Fund 716,055 ** 9,122,541
* Putnam Putnam Fund for Growth and Income 1,781,629 ** 34,634,858
* Putnam Putnam New Opportunities Fund 768,731 ** 32,924,760
* Putnam Putnam Voyager Fund 1,746,112 ** 29,928,356
--------------
Total Mutual Funds 232,382,653
--------------
GUARANTEED INVESTMENT CONTRACTS:
Monumental Life
Insurance Company GIC, due 6/15/05, 6.6% ** 1,768,676
Pacific Mutual
Insurance Company GIC, due 6/15/05, 6.0% ** 1,661,075
--------------
Total Guaranteed Investment Contracts 3,429,751
--------------
* denotes a party-in-interest as defined by ERISA
** not required as investments are participant directed
--------------------------------------------------------------------------------
See report of independent registered public accounting firm.
Page 16 of 21
RIO TINTO AMERICA INC.
SAVINGS PLAN
EMPLOYER IDENTIFICATION NUMBER: 11-3359689
PLAN NUMBER: 002
SCHEDULE H, PART IV, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
CONTINUED
DECEMBER 31, 2004
-----------------------------------------------------------------------------------------------------------------------------------
(a) (b) (c) (d) (e)
PARTY IN NUMBER OF CURRENT
INTEREST IDENTITY OF ISSUE DESCRIPTION OF INVESTMENT UNITS COST VALUE
---------- --------------------- ---------------------------------------------- ----------- -------- -------------------
SYNTHETIC GUARANTEED INVESTMENT CONTRACTS:
Monumental Life Synthetic GIC, Dwight Core Int Fund, no
Insurance Company specified maturity date, 4.8% ** $ 1,739,737
Monumental Life Synthetic GIC, Dwight Managed Target 2,
Insurance Company no specified maturity date, 4.8% ** 28,261,328
Monumental Life Synthetic GIC, Dwight Managed Target 5,
Insurance Company no specified maturity date, 4.8% ** 23,961,179
Monumental Life Wrap Contract ** (1,517,983)
Insurance Company
State Street Bank Synthetic GIC, Dwight Core Int Fund, no
specified maturity date, 4.87% ** 11,022,404
State Street Bank Synthetic GIC, Dwight Managed Target 2,
no specified maturity date, 4.87% ** 21,741,538
State Street Bank Synthetic GIC, Dwight Managed Target 5,
no specified maturity date, 4.87% ** 6,983,732
State Street Bank Wrap Contract ** (646,055)
--------------
Total Synthetic Guaranteed
Investment Contracts 91,545,880
--------------
COMMON STOCK:
* Rio Tinto plc ADRs Common Stock 139,657 ** 16,648,521
--------------
Putnam Pending Account ** 41,170
--------------
Various participants Participant loans (maturing 2005 to 2031
at interest rates ranging from 5.0% to
10.5%) 1,182 ** 10,653,572
--------------
Total Investments $399,342,069
==============
* denotes a party-in-interest as defined by ERISA
** not required as investments are participant directed
--------------------------------------------------------------------------------
See report of independent registered public accounting firm.
Page 17 of 21
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the trustees (or other persons who administer the employee benefit plan) have
duly caused this annual report to be signed on its behalf by the undersigned
hereunto duly authorized.
RIO TINTO AMERICA INC. SAVINGS PLAN
By: /s/ Robert S. Light
--------------------------------
Name: Robert S. Light
Title: Rio Tinto America Inc.
Director
Date: April 25, 2006
Page 18 of 21
Exhibit Description
------- -----------
23.1 Consent of Tanner LC
23.2 Consent of PricewaterhouseCoopers LLP
Page 19 of 21