/ 11 October 2000

RIO STANDS FIRM ON LOWER ASHTON BID

ANGLO-Australian mining giant Rio Tinto Plc/Ltd says it will not try to match De Beers’ A$745m bid for diamond group Ashton Mining Ltd. ”Rio Tinto notes that the De Beers offer remains conditional on a number of matters, including Foreign Investment Review Board approval, and thus intends to leave its current offer of A$1.85 and/or shares open for the time being,” it said in a statement. De Beers raised its offer for Ashton about a week ago to A$2.28 a share, well above its initial A$1.57 a share and topping Rio’s A$1.85 a share cash bid. – Reuters