UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
------------------
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, 2005
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 18 Pages
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 3
Financial Statements:
Statements of Assets Available for Benefits as of
December 31, 2005 and 2004 4
Statement of Changes in Assets Available for Benefits
for the year ended December 31, 2005 5
Notes to Financial Statements 6 - 13
Supplemental Schedule - Schedule H, Part IV, line 4i -
Schedule of Assets (Held at End of Year) as of December 31, 2005 14 - 15
Signature 16
Exhibits 17 - 18
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 2 of 18 Pages
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 statements of assets available for benefits of
the Rio Tinto America Inc. Savings Plan (the Plan) as of December 31, 2005 and
2004 and the related statement of changes in assets available for benefits for
the year ended December 31, 2005. 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 audits.
We conducted our audits in accordance with standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audits to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit includes
consideration of internal control over financial reporting as a basis for
designing audit procedures that are appropriate in the circumstances, but not
for the purpose of expressing an opinion on the effectiveness of the Plan's
internal control over financial reporting. Accordingly, we express no such
opinion. 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 audits provide 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, 2005 and 2004, and the changes in
assets available for benefits for the year ended December 31, 2005 in conformity
with U.S. generally accepted accounting principles.
Our audits of the financial statements were 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, 2005 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 is the responsibility of the Plan's management and has been subjected
to the auditing procedures applied in the audits 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
June 28, 2006
Page 3 of 18 Pages
RIO TINTO AMERICA INC. SAVINGS PLAN
STATEMENTS OF ASSETS AVAILABLE FOR BENEFITS
December 31,
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2005 2004
--------------------------------
Assets
Investments $436,830,392 $399,342,069
--------------------------------
Receivables:
Employee contributions 317,402 23,887
Employer contributions 189,759 14,387
--------------------------------
Total receivables 507,161 38,274
--------------------------------
Assets available for benefits $437,337,553 $399,380,343
================================
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See accompanying notes to financial statements.
Page 4 of 18 Pages
RIO TINTO AMERICA INC. SAVINGS PLAN
STATEMENT OF CHANGES IN ASSETS AVAILABLE FOR BENEFITS
YEAR ENDED DECEMBER 31, 2005
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ADDITIONS TO ASSETS ATTRIBUTED TO:
Transfers:
From the U.S. Borax Inc. 401(k) Plan for Hourly
Employees $ 551,656
From the Kennecott Corporation Savings Plan
for Hourly Employees 1,620,480
------------
Total transfers 2,172,136
------------
Contributions:
Employee 20,556,036
Employer 10,544,179
------------
Total contributions 31,100,215
------------
Investment income:
Net appreciation in fair value of investments 19,784,533
Interest and dividends 15,418,063
------------
Total investment income 35,202,596
------------
Total additions 68,474,947
------------
DEDUCTIONS FROM ASSETS ATTRIBUTED TO:
Benefits paid to participants 30,513,440
Administrative expenses 4,297
------------
Total deductions 30,517,737
------------
Increase in assets available for benefits 37,957,210
ASSETS AVAILABLE FOR BENEFITS:
Beginning of year 399,380,343
------------
End of year $437,337,553
============
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See accompanying notes to financial statements.
Page 5 of 18 Pages
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
$14,000 ($18,000 for participants over age 50) for the
year ended December 31, 2005. 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 6 of 18 Pages
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)
effective May 12, 2004, 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 40%, up to the first
6% of eligible compensation (prior to May 12, 2004,
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 7 of 18 Pages
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, 2005, transfers into the Plan
totaled $2,172,136. For the year ended December 31,
2005, transfers from the U.S. Borax Inc. 401(k) Plan
for Hourly Employees totaled $551,656 and transfers
from the Kennecott Corporation Savings Plan for Hourly
Employees totaled $1,620,480.
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, 2005, the forfeiture account earned
$3,158 and no forfeitures were utilized to reduce
Company contributions. 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, 2005 totaled $48,889. As
of December 31, 2005 and 2004, the balance in the
forfeiture account was $84,507 and $32,460,
respectively.
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Page 8 of 18 Pages
RIO TINTO AMERICA INC. SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
CONTINUED
--------------------------------------------------------------------------------
2. SUMMARY OF BASIS OF PRESENTATION
SIGNIFICANT The financial statements of the Plan have been
ACCOUNTING prepared on the accrual basis of accounting in
POLICIES accordance with U.S. generally accepted accounting
principles.
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 stated at contract value (see Note 6) and
participant loans, which are stated at their
outstanding balances, which approximate fair values.
Shares of mutual funds are stated at quoted market
prices, which represent the net asset value of shares
held by the Plan at year end.
Purchases and sales of securities are recorded on a
trade-date basis. Interest income is recorded on the
accrual basis. Dividends are recorded on the
ex-dividend date.
PAYMENTS OF BENEFITS
Benefits payments are recorded when paid by the Plan.
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Page 9 of 18 Pages
RIO TINTO AMERICA INC. SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
CONTINUED
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2. SUMMARY OF ADMINISTRATIVE EXPENSES
SIGNIFICANT The Company pays the majority of the costs and
ACCOUNTING expenses incurred in administering the Plan.
POLICIES
CONTINUED The Plan has several fund managers that manage the
investments held by the Plan. During the year ended
December 31, 2005, the Company paid all investment
management fees related to these investment 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, 2005 have interest rates set at prime
plus one percent. Principal and interest are paid
ratably through payroll deductions.
NEW ACCOUNTING PRONOUNCEMENT
In December 2005, the Financial Accounting Standards
Board (FASB) issued FASB Staff Position AAG INV-1 and
SOP 94-4-1, Reporting of Fully Benefit-Responsive
Investment Contracts Held by Certain Investment
Companies Subject to the AICPA Investment Company
Guide and Defined-Contribution Health and Welfare and
Pension Plans (FSP). This FSP makes the definition of
benefit-responsive more restrictive so that certain
investment contracts currently reported at contract
value may be reported at fair value. Management has
not yet determined the impact this standard, which is
effective for the plan year ending December 31, 2006,
will have on the Plan's financial statements.
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Page 10 of 18 Pages
RIO TINTO AMERICA INC. SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
CONTINUED
--------------------------------------------------------------------------------
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, 2005 and 2004, the Plan held
167,436.747 and 139,657.081 shares, respectively, of
common stock of Rio Tinto plc, with a cost basis of
$16,272,106 and $10,620,880, respectively. During the
year ended December 31, 2005, the Plan recorded
dividend income of $490,345 related to the Rio Tinto
plc ADRs.
4. INVESTMENTS The Plan's investments that represented five percent
or more of the Plan's assets available for benefits as
of December 31, 2005 and 2004 are as follows:
2005 2004
----------------------
Dodge and Cox Stock Fund $67,357,011 $25,328,751
Monumental Life Insurance
Company Synthetic GIC 55,074,136 52,444,261
State Street Bank Synthetic
GIC 40,739,730 39,101,619
Putnam S&P 500 Index Fund 38,803,876 31,574,647
Putnam Voyager Fund 37,639,071 29,928,356
Rio Tinto plc ADRs 30,605,763 16,648,521
SEI Stable Asset Fund 30,445,798 11,905,589
Putnam International Equity
Fund 25,675,260 21,911,615
PIMCO Total Return Fund 22,846,685 15,835,529
Putnam Fund for Growth
and Income * 34,634,858
Putnam New Opportunities Fund * 32,924,760
* These investments did not exceed five percent or
more of total assets available for benefits as of
December 31, 2005 and, therefore, are not shown
separately.
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Page 11 of 18 Pages
RIO TINTO AMERICA INC. SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
CONTINUED
--------------------------------------------------------------------------------
4. INVESTMENTS During the year ended December 31, 2005, the Plan's
CONTINUED investments (including gains and losses on investments
bought and sold, as well as held during the year)
appreciated in fair value as follows:
Mutual funds $ 7,557,901
Common stock 10,378,331
Common collective trusts 1,848,301
-----------
Net appreciation in investments $19,784,533
===========
5. PLAN Although it has not expressed any intention to do so,
TERMINATION 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.
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
contract 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 4.79% and 4.61%
for the years ended December 31, 2005 and 2004,
respectively. Average duration for all investment
contracts was 3.06 years and 3.01 years at December
31, 2005 and 2004, respectively. The average yield was
4.82% and 4.63% for the years ended December 31, 2005
and 2004, 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.
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Page 12 of 18 Pages
RIO TINTO AMERICA INC. SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
CONTINUED
--------------------------------------------------------------------------------
6. GUARANTEED A synthetic GIC provides for a guaranteed return on
INVESTMENT principal over a specified period of time through
CONTRACTS fully benefit-responsive wrap contracts, issued by a
CONTINUED 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).
Wrap contracts are designed to smooth out the impact
of normal market fluctuations associated with the
performance of the underlying investments. The fair
value of the synthetic GICs was $96,013,693 and
$93,709,918 as of December 31, 2005 and 2004,
respectively. The contract value of the synthetic GICs
included $22,580 and $2,164,038 as of December 31,
2005 and 2004, respectively, attributable to the wrap
contract providers representing the amounts by which
the net value of the contracts is less than the net
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 13 of 18 Pages
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, 2005
-----------------------------------------------------------------------------------------------------------------------------------
(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 1,127,156 ** $ 1,127,156
--------------
COMMON COLLECTIVE TRUSTS:
SEI Investments SEI Stable Asset Fund ** 30,445,798
* Putnam Putnam S&P 500 Index Fund 1,206,213 ** 38,803,876
--------------
Total Common Collective Trusts 69,249,674
--------------
MUTUAL FUNDS:
Dreyfus Dreyfus Mid-Cap Value Fund 512,575 ** 16,243,501
PIMCO PIMCO Total Return Fund 2,175,875 ** 22,846,685
Morgan Stanley MSDW Institutional International Equity Fund 562,121 ** 11,433,536
Dodge and Cox Dodge and Cox Stock Fund 490,869 ** 67,357,011
UAM Trust Company UAM/ICM Small Company Fund 373,462 ** 13,530,520
Artisan Artisan Mid Cap Fund 609,647 ** 18,850,277
* Putnam Putnam Small Cap Growth Fund CL Y 584,392 ** 13,031,948
* Putnam Putnam International Equity Fund 976,617 ** 25,675,260
* Putnam Putnam Voyager Fund 2,096,884 ** 37,639,071
--------------
Total Mutual Funds 226,607,809
--------------
GUARANTEED INVESTMENT CONTRACTS:
Monumental Life
Insurance Company GIC, due 6/15/07, 4.11% ** 1,011,713
Monumental Life
Insurance Company GIC, due 12/17/07, 4.11% ** 1,032,692
--------------
Total Guaranteed Investment Contracts 2,044,405
--------------
* denotes a party-in-interest as defined by ERISA
** not required as investments are participant directed
-------------------------------------------------------------------------------------------------------------------------------
See accompanying report of independent registered public accounting firm.
Page 14 of 18 Pages
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, 2005
-----------------------------------------------------------------------------------------------------------------------------------
(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, 5.01% ** $ 1,790,009
Monumental Life Synthetic GIC, Dwight Managed Target 2,
Insurance Company no specified maturity date, 5.01% ** 28,915,252
Monumental Life Synthetic GIC, Dwight Managed Target 5,
Insurance Company no specified maturity date, 5.01% ** 24,546,122
Monumental Life Wrap Contract ** (177,247)
Insurance Company
State Street Bank Synthetic GIC, Dwight Core Int Fund, no
specified maturity date, 4.76% ** 11,340,907
State Street Bank Synthetic GIC, Dwight Managed Target 2,
no specified maturity date, 4.76% ** 22,244,604
State Street Bank Synthetic GIC, Dwight Managed Target 5,
no specified maturity date, 4.76% ** 7,154,219
State Street Bank Wrap Contract ** 199,827
--------------
Total Synthetic Guaranteed
Investment Contracts 96,013,693
--------------
* Rio Tinto plc ADRs COMMON STOCK 167,437 ** 30,605,763
--------------
* Putnam PENDING ACCOUNT ** 261,193
--------------
* Various participants PARTICIPANT LOANS (maturing 2006 to 2032
at interest rates ranging from 5.0% to
10.5%) 1,193 ** 10,920,699
--------------
Total Investments $436,830,392
==============
* denotes a party-in-interest as defined by ERISA
** not required as investments are participant directed
-------------------------------------------------------------------------------------------------------------------------------
See accompanying report of independent registered public accounting firm.
Page 15 of 18 Pages
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/ Christopher Crowl
--------------------------------
Name: Christopher Crowl
Title: Rio Tinto America Inc.
Benefits Committee Member
Date: June 29, 2006
Page 16 of 18 Pages
Exhibit Description
------- -----------
23.1 Consent of Tanner LC
Page 17 of 18 Pages