MIRA INFORM REPORT

Report Date :

15.09.2011

IDENTIFICATION DETAILS

Name :	HAIL CREEK MARKETING PTY LTD
Registered Office :	Level 3, West Tower, 410 Ann Street, Brisbane, Queensland, 4000
Country :	Australia
Financials (as on) :	31.12.2010
Date of Incorporation :	05.11.1997
Com. Reg. No.:	080001985
Legal Form :	Australian Proprietary Company
Line of Business :	marketing agent of coal for the Hail Creek Coal Joint Venture participations

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 1,500,000
Status :	Good
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31^st, 2011

Country Name	Previous Rating (31.12.2010)	Current Rating (31.03.2011)
Australia	a2	a2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Bottom of Form

Identification details Bottom of Form

Verified Address

Subject name :	HAIL CREEK MARKETING PTY LTD
Business address :	Level 3, West Tower 410 Ann Street
Town :	Brisbane
Province :	Queensland
Zip/postal code :	4000
Country :	Australia
Tel :	+61 7 33614200
Fax :	+61 7 33614370
Email :	info@rtca.riotinto.com.au
Website :	www.riotintocoalaustralia.com.au
Registered address :	Level 3, West Tower 410 Ann Street
Town :	Brisbane
Province :	Queensland
Zip/postal code :	4000
Country :	Australia
Postal address :	GPO Box 391
Town :	Brisbane
Province :	Queensland
Zip/postal code :	4001
Country :	Australia

Summary details

Executive Summary

Date founded or registered : 05/11/1997

Legal form : Australian Proprietary Company

Chief executive : Darren Ronald Yeates

Issued & paid up capital : AUD 100,000

Sales turnover : AUD 1,516,843,398 (Non-consolidated 12 months, 31/12/2010)

Net income : AUD 0 (Non-consolidated 12 months, 31/12/2010)

Total fixed assets : AUD 103,505,815 (Non-consolidated 12 months, 31/12/2010)

Line of business : Special purpose company acting as marketing agent of coal for the Hail Creek

Coal Joint Venture participations.

_{Staff employed : Nil (Subject); 70,714 (Rio Tinto Group)}

Credit risk opinion

Company Analysis

Country risk : Country risk is minimal

Operation trend : Operational trend is steady

Management experience : Management is adequately experienced

Financial performance : Financial performance is good

Organisation structure : Organisational structure is stable

Detrimental : No detrimental records found

Payment history : No payment delays noted

_{Credit amount suggestion : USD 1,500,000}

Credit amount asked : Not described.

_{Comments : Larger credit can be granted if guaranteed by Ultimate Holding Company.}

Statutory details

Registry Data

Registration date : 05/11/1997

Legal form : Australian Proprietary Company

Registration no Australian Company Number: 080001985

Registered authority : Australian Securities & Investments Commission

Fiscal/ Tax no : Australian Business Number: 36080001985

Registry status : Live/Active

Previous name : None reported.

Change of legal form : None reported.

Management / directors

Key Management

Name : Koji Iwama

Designation : Director

Name : Kenji Hashimoto

Designation : Director

Name : Yoshifumi Nakata

Designation : Director

Name : Darren Ronald Yeates

Designation : Director

Name : Anthony David Miller

Designation : Director

Name : Joji Tezuka

Designation : Director

Board of directors / other appointments

Appointments

Name : Koji Iwama

Designation : Director

Appointment date : 01/04/09

Address : 161 Grey Street

South Bank, QLD 4101

Australia

Biography : Born on 14-02-1966 in Tottori, Japan.

Name : Kenji Hashimoto

Designation : Director

Appointment date : 02/04/09

Address : 55 Lavender Street

North Sydney, NSW 2060

Australia

Biography : Born on 27-10-1952 in Osaka, Japan.

Name : Shinjiro Morita

Designation : Director

Appointment date : 30/06/09

Address : 4-32-20-204 Yoga Setagaya-Ku, Tokyo Japan

_{Biography : Born on 04-03-1975 in Chiba Prefecture, Japan.}

Name : Yoshifumi Nakata Designation : Director Appointment date : 09/04/09

Address : 12 Remuera Street

Willoughby, NSW 2068

Australia

Biography : Born on 19-03-1959 in Hyogo, Japan.

Name : Darren Ronald Yeates

Designation : Director

Appointment date : 07/02/07

Address : 62 Gilgandra Street

Indooroopilly, QLD 4068

Australia

Biography : Born on 15-01-1961 in Southport, Queensland, Australia.

Name : Anthony David Miller

Designation : Director

Appointment date : 23/07/10

Address : 18 Mcilwraith Street

Auchenflower, QLD 4066

Australia

Biography : Born on 20-09-1955 in Corowa, New South Wales, Australia.

Name : Joji Tezuka

Designation : Director

Appointment date : 01/04/11

Address : 161 Grey Street

South Brisbane, QLD 4101

Australia

Biography : Born on 09-09-1966 in Aichi, Japan.

Name : Paul Matthew Borg

Designation : Company Secretary

Appointment date : 01/03/09

Address : 109 Tinchborne Street

Chandler, QLD 4155

Australia

Biography : Born on 26-11-1969 in Brisbane, Queensland, Australia.

Name : Claire Elizabeth Fidler

Designation : Company Secretary

Appointment date : 29/06/11

Address : 51 Stevenson Street

Paddington, QLD 4064

Australia

Biography : Born 21-03-1977 in Brisbane, Queensland, Australia.

Name : Yoko Tanaka

Designation : Alternate Director

Appointment date : 30/04/10

Address : 18 Manning Street

Milton, QLD 4064

Australia

Biography : Born 27-01-1984 in Chiba, Japan.

Name : Fumihiko Otsuki

Designation : Alternate Director

Appointment date : 05/07/10

Address : 38 Alfred St S

Milsons Point, NSW 2061

Australia

Biography : Born 14-02-1964 in Aichi, Japan.

Name : Matthew William Halliday

Designation : Alternate Director

Appointment date : 23/07/10

Address : 6A Normanby Street

Indooroopilly, QLD 4068

Australia

Biography : Born 23-07-1976 in Fremantle, Western Australia, Australia.

Name : Hiroaki Kimura

Designation : Alternate Director

Appointment date : 08/10/10

Address : 2 Baker Place

Lindfield, NSW 2070

Australia

Biography : Born 20-08-1969 in Kyoto, Japan.

Name : Takayoshi Takemura

Designation : Alternate Director

_{Appointment date : 01/04/11}

Address : 4 Parkland Boulevard

Brisbane, QLD 4000

Australia

Biography : Born 01-09-1974 in Tokyo, Japan.

Staff employed : Nil (Subject); 70,714 (Rio Tinto Group)

Key Advisors

Auditors : PRICEWATERHOUSECOOPERS

'Riverside Centre' Level 1

123 Eagle Street

Brisbane, QLD 4000

_Australia

Share capital

Composition

Authorized Capital : AUD 100,000

No of shares : 1,000,000 Ordinary Shares

Share par value : AUD 0.1

Issued capital : AUD 100,000

_{Paid up capital : AUD 100,000}

ownership / shareholders

How listed : Full List

Composition

Shareholder name : QUEENSLAND COAL PTY. LIMITED

Address : C/o Pacific Coal Pty Ltd

10 Eagle Street

Brisbane, QLD 4000

Australia

No. of shares : 820,000 Ordinary Shares

Shareholder name : MARUBENI COAL PTY. LTD.

Address : 123 Eagle Street

Brisbane, QLD 4000

Australia

No. of shares : 66,667 Ordinary Shares

Shareholder name : SUMISHO COAL DEVELOPMENT QUEENSLAND PTY LTD

Address : 88 Phillip Street

Sydney, NSW 2000

Australia

No. of shares : 33,333 Ordinary Shares

Shareholder name : NIPPON STEEL AUSTRALIA PTY LTD

Address : 1 York Street

Sydney, NSW 2000

Australia

No. of shares : 80,000 Ordinary Shares

Related companies & corporate Affiliations

Structure

Name : Jointly held by RIO TINTO LIMITED / RIO TINTO PLC

Affiliation type : Ultimate Holding Company

Address : Level 33 120 Collins Street

Melbourne, VIC 3000

Australia

2 Eastbourne Terrace London W2 6LG United Kingdom

Comments : The company is listed on the Australian Stock Exchange and London Stock Exchange.

RIO TINTO LIMITED / RIO TINTO PLC together is engaged in minerals exploration, development, production and processing. The Company’s product groups include aluminum, copper, diamonds and minerals, energy, and iron ore. Its major products are aluminum, copper, diamonds, coal, iron ore, uranium, molybdenum, gold, borates, titanium dioxide, salt and talc. The Company’s businesses include open pit and underground mines, mills, refineries and smelters, as well as a number of research and service facilities.

Name : QUEENSLAND COAL PTY. LIMITED

Affiliation type : Parent Company

Address : C/o Pacific Coal Pty Ltd

10 Eagle Street

Brisbane, QLD 4000

Australia

Comments : Queensland Coal Pty. Limited doing business as Pacific Coal engages in coal mining and exploration. The company was incorporated in 1909 and is based in Brisbane, Australia. Queensland Coal Pty. Limited operates as a subsidiary of Rio Tinto Group.

Name : ARGYLE DIAMONDS LIMITED

Affiliation type : Sister Company

Address : Australia

Comments : Mining and processing of diamonds.

Name : COAL & ALLIED INDUSTRIES LIMITED

Affiliation type : Sister Company

Address : Australia

Comments : Coal mining.

Name : DAMPIER SALT LIMITED

Affiliation type : Sister Company

Address : Australia

Comments : Salt production.

_{Name : ENERGY RESOURCES OF AUSTRALIA LIMITED}

Affiliation type : Sister Company

Address : Australia

Comments : Uranium mining.

Name : HAIL CREEK COAL PTY LTD

Affiliation type : Sister Company

Address : Australia

Name : HAMERSLEY IRON PTY LIMITED

Affiliation type : Sister Company

Address : Australia

Comments : Iron ore mining.

Name : RIO TINTO ALUMINIUM (HOLDINGS) LIMITED

Affiliation type : Sister Company

Address : Australia

Comments : Bauxite mining; alumina production; primary aluminium smelting.

Name : RIO TINTO COAL AUSTRALIA PTY LIMITED

Affiliation type : Sister Company

Address : Australia

Comments : Rio Tinto Coal Australia manages the operation on behalf of the joint venture partners,

Queensland Coal Pty Limited (82 per cent), Nippon Steel Australia Pty Ltd (8 per cent), Marubeni Coal Pty Ltd (6.67 per cent) and Sumisho Coal Development Pty Ltd (3.33 per cent).

Related companies and corporate affiliations comments

Other companies of the Rio Tinto Group should be considered affiliates of the _Subject.

Bank & mortgages

Bank Details

Name of bank : National Australia Bank Limited

Address : Australia

Account details : Current Account

Comments : It is generally not the policy of local banks to provide credit status information to

non related parties, however interested parties would be advised to consult first with the Subject if banker's references are required.

Mortgages: None reported.

Legal Fillings

Bankruptcy fillings : None reported.

Court judgements : None reported.

Tax liens : None reported.

Others : None reported.

financials

Description

Source of financial statement : Commercial Registry Filings

Financial statement date : 31/12/10

Type of accounts : Full unaudited

Currency : Australia Dollar (AUD)

Exchange rate : 1 USD = AUD 0.96 as of 14/09/2011

Summarized Financial Information

^{Consolidation type :} Non Consolidated Non Consolidated Group Consolidated ^{Currency :} Australia Dollar (AUD) Australia Dollar (AUD) US Dollar (USD) ^{Denomination :} (x1) One (x1) One (x1) One

^{Date of financial year end :} 31/12/10 31/12/09 31/12/10

^{Length of accounts :} 12 months 12 months 12 months

^{Sale turnover / Income :} 1,516,843,398 1,244,873,296 60,323,000,000

^{Operating profit :} 19,694,000,000

^{Profit before tax :} 00.00 00.00 20,577,000,000

^{Net income :} 00.00 00.00 15,184,000,000

^{Non current assets :} 846,610 476,564 89,237,000,000

^{Current assets :} 102,659,205 88,858,999 21,459,000,000

Inventories : ----- ----- _{4,756,000,000}

Total assets :	103,505,815	89,335,563	112,402,000,000
Current liabilities :	103,249,879	89,079,627	11,795,000,000
Non current liabilities :	00.00	00.00	33,526,000,000
Total liabilities :	103,249,879	89,079,627	47,128,000,000
Share equity :	255,936	255,936	65,274,000,000
Retained earning :	155,936	155,936	32,585,000,000

Comments : The non-consolidated financial information above relates to the Subject only.

The group’s consolidated financial information above relates to the Subject’s jointly Ultimate Holding Company TINTO LIMITED / RIO TINTO PLC and all its subsidiaries which include the Subject.

Operation details

Main activities : The Subject's is engaged as a special purpose company acting as marketing agent of coal for the Hail Creek Coal Joint Venture participations.

The Hail Creek Coal mines is manages by the Subject's sister company Rio Tinto Coal Australia Pty Limited.

The Subject is part of the Rio Tinto Group, which is a diversified, British-Australian, multinational mining and resources group with headquarters in London and Melbourne. The company was founded in

1873, when a multinational consortium of investors purchased a mine complex on the Rio Tinto river, in Huelva, Spain from the Spanish government. Since then, the company has grown through a long series of mergers and acquisitions to place itself among the world leaders in the production of many commodities, including aluminum, iron ore, copper, uranium, coal, and diamonds. Although primarily focused on extraction of minerals, Rio Tinto also has significant operations in refining, particularly for refining bauxite and iron ore. The company has operations on six continents but is mainly concentrated in Australia and Canada, and owns gross assets valued at $81 billion through a complex web of wholly and partly owned subsidiaries. In 2007, the company was valued at $147 billion. Its head office in the United Kingdom is in the City of Westminster, London, while its Australian head office is in the City of Melbourne.

Rio Tinto Group is a dual-listed company traded on both the London Stock Exchange where it is a component of the FTSE 100 Index and the Australian Securities Exchange where it is a component of the S&P/ASX

200 index. As of March 2009, Rio Tinto is the fourth-largest publicly listed mining company in the world with a market capitalization of approximately

$134 billion, and was listed in Fortune magazine's 2008 Global 500 ranking of largest worldwide companies by revenue at number 263. Although the company has a long record of producing profitable operating results and favorable investment returns, the company's 2007 acquisition of Canadian aluminum company Alcan for $38.1 billion burdened Rio Tinto with substantial debt.

Rio Tinto Group is structured as a dual-listed company, with listings on

both the London Stock Exchange (symbol: RIO) in London under the name Rio Tinto Plc and the Australian Securities Exchange (symbol: RIO) in Sydney under the name Rio Tinto Limited. The dual-listed company structure grants shareholders of the two companies the same proportional economic interests and ownership rights in the consolidated Rio Tinto Group, in such a way as to be equivalent to all shareholders of the two companies actually being shareholders in a single, unified entity. This structure was implemented in order to avoid adverse tax consequences

and regulatory burdens. In order to eliminate currency exchange issues, the company's accounts are kept, and dividends paid, in United States dollars.

_{Rio Tinto is one of the largest companies listed on either exchange. As}

such, it is included in the widely-quoted indices for each market: the FTSE

100 Index of the London Stock Exchange, and the S&P/ASX 200 index of the Australian Securities Exchange. LSE-listed shares in Rio Tinto plc can also be traded indirectly on the New York Stock Exchange via an American Depositary Receipt. As of 4 March 2009, Rio Tinto was the fourth-largest publicly listed mining company in the world, with a market capitalization of approximately $34 billion. As of mid-February 2009, shareholders were geographically distributed 42% in the United Kingdom, 18% in North America, 16% in Australia, 14% in Asia, and 10% in continental Europe.

Purchases

Local : Yes

International : India, Indonesia, South Africa, Europe

Sales

Local : Yes

International : Japan, Taiwan, Korea, India, Europe, and Brazil

Property & Assets

Premises : The Subject operates from premises located at the verified heading address consisting administrative office.

_{Branches : None reported.}

Summarized country risk

Gross Domestic Products (GDP) & Economic Overview

Central bank : Reserve Bank of Australia

Reserve of foreign exchange & gold : US$ 41.385 billion

Gross domestic product - GDP : US$ 1.235 trillion

GPP (Purchasing power parity) : 918.529 billion of International dollars

GDP per capita - current prices : US$ 55,590

GDP - composition by sector : agriculture: 4.1%

industry: 26%

services: 70%

Inflation : 2008: 4.4%

2009: 1.8%

2010: 2.8%

Unemployment rate 2008 4.2%

2009 5.6%

2010 5.2%

Public debt

(General Government gross

debt as a % GDP) 2008: 11.6 %

2009: 17.6%

_{2010: 22.3 %}

Government bond ratings Standard & Poor's: AAA-/Stable/A-1+ Moody's rating: Aaa

Moody's outlook: STA

Market value of publicly traded shares US$ 1.258 Trillion

Largest companies in the country : Commonwealth Bank (Banking), BHP Billiton (Materials), Westpac

Banking Group (Banking), Rio Tinto (Materials), National Australia Bank (Banking), ANZ Banking (Banking), Telstra (Telecommunications Services)

Country and Population Overview

Total population : 22.23 million

Total area : 7,692,024 km2

Capital : Canberra

_{Currency : Australian Dollar (AUD)}

Internet users as % of total population : 74.00%

Payment history

Purchase Term

International : L/C, Credit up to 120 days

Sales Term

Local : Prepayment, Credit up to 120 days

International : L/C, Credit up to 120 days

Trade Reference/ Payment Behaviour

Comments : As local and international trade references were not supplied, the Subject's payment track record history cannot be appropriately determined but based on our research, payments are believed to be met without delay.

Investigation Note

Sources : Interviews and material provided by the Subject

: Other official and local business sources

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.47.81
UK Pound	1	Rs.75.16
Euro	1	Rs.65.11

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
----	NB	New Business	----

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.