The objective of the review process is to identify and assess business health, safety and environment issues and risks of an emerging and longer term nature that have the potential to affect the profitability of Rio Tinto, its growth opportunities or its reputation.

Reviews are neither duplicates of, nor checks upon, the locally based audit process, although they may focus on some of the significant issues that an audit has identified. The review programme is undertaken on a rolling four year basis subject to an evaluation of the potential risks. Reviews are also conducted for acquisitions, divestments and new projects. Reviews were conducted at nine businesses in 2003.

Strategic technical risk reviews are reviews of specific risks that our businesses may face. These include safety of underground mines, risks associated with tailings facilities, open pit mines, smelters and the safe handling, storage and disposal of cyanide. These targeted reviews are undertaken on a campaign basis with tailings and waste rock facilities undertaken in 1997/98, underground mines in 1999, smelters in 2000, cyanide management in 2000 and open pit mines in 2000/01. A programme to review all the Group's major waste and water storage facilities was initiated in 2002 and will continue until the end of 2004. The aim of the programme is to provide an independent verification of any risks posed by these facilities to the public, the environment and Rio Tinto. Open pit reviews were carried out at five businesses during 2003 and waste and water storage reviews were carried out at eight operations.