<SEC-DOCUMENT>0001003297-16-000754.txt : 20160617
<SEC-HEADER>0001003297-16-000754.hdr.sgml : 20160617
<ACCEPTANCE-DATETIME>20160617153423
ACCESSION NUMBER:		0001003297-16-000754
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20151231
FILED AS OF DATE:		20160617
DATE AS OF CHANGE:		20160617

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RIO TINTO PLC
		CENTRAL INDEX KEY:			0000863064
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL MINING [1000]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			X0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		11-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10533
		FILM NUMBER:		161720003

	BUSINESS ADDRESS:	
		STREET 1:		6 ST JAMES'S SQUARE
		CITY:			LONDON, SW1Y 4AD
		STATE:			X0
		ZIP:			00000
		BUSINESS PHONE:		44 20 7781 1623

	MAIL ADDRESS:	
		STREET 1:		RIO TINTO SERVICES INC.
		STREET 2:		80 STATE STREET
		CITY:			ALBANY
		STATE:			NY
		ZIP:			12207-2543

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RTZ CORPORATION PLC
		DATE OF NAME CHANGE:	19950522
</SEC-HEADER>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>1
<FILENAME>rtform11k-borax.htm
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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:1.0pt;">&nbsp;</font></p>

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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:18.0pt;">UNITED STATES</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:18.0pt;">SECURITIES AND EXCHANGE COMMISSION</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Washington, D.C. 20549</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:18.0pt;">FORM&nbsp;11-K</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;(Mark
One)</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-indent:-.25in;"><b>
<font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#9746; </font><font face="Times New Roman" lang=EN-US style="font-size:3.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">ANNUAL
REPORT PURSUANT TO SECTION&nbsp;15(d)&nbsp;OF THE SECURITIES EXCHANGE ACT OF
1934</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">For the fiscal year ended December&nbsp;31, 2015</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">or</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-indent:-.25in;"><b>
<font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#9744;</font><font face="Times New Roman" lang=EN-US style="font-size:3.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">TRANSITION
REPORT PURSUANT TO SECTION&nbsp;15(d)&nbsp;OF THE SECURITIES EXCHANGE ACT OF
1934</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">For the transition period from
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Commission
file number</font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;"> 001-10533</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">A.</font><font face="Times New Roman" lang=EN-US style="font-size:3.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Full title of the plan and the address of
the plan, if different from that of the issuer named below:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">U. S. BORAX INC. 401(K)
SAVINGS &amp; RETIREMENT PLAN FOR REPRESENTED EMPLOYEES</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">B.</font><font face="Times New Roman" lang=EN-US style="font-size:3.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Name of the issuer of the securities held
pursuant to the plan and the address of its principal executive office:</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:18.0pt;">Rio Tinto plc</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">6 St. James's Square<br>
London SW1Y 4AD</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">United Kingdom</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:.2in;margin-right:0in;margin-top:0in;text-align:center;text-indent:-.2in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

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<p style="margin-bottom:.0001pt;margin-left:.2in;margin-right:0in;margin-top:0in;text-indent:-.2in;"><font face="Times New Roman" lang=EN-US style="font-size:1.0pt;">&nbsp;</font></p>

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">SIGNATURE</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">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.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100%;">
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  </td>
 <td colspan=2 valign=top width=50% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">U. S.
  BORAX INC. 401(K) SAVINGS &amp; RETIREMENT PLAN FOR REPRESENTED EMPLOYEES</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=50% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=50% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=50% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=4% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=46% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=50% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=4% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
 <td valign=top width=46% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">/s/</font><font size="2">
	Kathy K. Pike</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=50% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=4% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=46% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">Name:
  Kathy K. Pike</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=50% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=4% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=46% style="padding:0in 0in 0in 0in;">
  <font size="2">Secretary-Rio Tinto America Inc. Benefit Governance Committee</font></td>
 </tr>
<tr>
  <td valign=top width=50% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=4% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=46% style="padding:0in 0in 0in 0in;">&nbsp;</td>
 </tr>
</table></div>

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<p style="margin:0in;margin-bottom:.0001pt;">
<font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Date:
June 17, 2016</font></p>
<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;">
<font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
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	<font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>
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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">EXHIBIT&nbsp;INDEX</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

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  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:10.0pt;">Exhibit</font></b></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
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  <p style="margin:0in;margin-bottom:.0001pt;margin-left:10.0pt;text-indent:-10.0pt;"><b><font face="Times New Roman" style="font-size:10.0pt;">Number</font></b></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  </td>
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  <p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" style="font-size:10.0pt;">Document</font></b></p>
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
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  <td valign=top width=16% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">23.1</font></p>
  </td>
 <td valign=bottom width=3% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=81% style="padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">Consent of Independent
  Registered Public Accounting Firm</font></p>
  </td>
 </tr>
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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>



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<B><FONT size=5 face="Times New Roman">U.</FONT></B><font face="Times New Roman">
</font> <B><FONT size=5 face="Times New Roman">S. Borax Inc. 401(k) Savings</FONT></B><font face="Times New Roman">
<br>
</font>
<FONT size=5 face="Times New Roman"><B>&amp;</B></FONT><font face="Times New Roman">
</font> <FONT size=5 face="Times New Roman">
<B>Retirement Contribution Plan</B></FONT><font face="Times New Roman"> <br>
</font>
<B><FONT size=5 face="Times New Roman">for Represented Employees</FONT></B><P style="text-align: left;">
<FONT size=3 face="Times New Roman">Financial Report</FONT><font face="Times New Roman"><BR>
</font>
<FONT size=3 face="Times New Roman">December 31, 2015</FONT></P>
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<P style="text-align: left;">
&nbsp;</P>
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<TR>
     <TD width=85%></TD>
     <TD width=14%></TD></TR>
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	<TD align=left style="border-bottom:1px solid #000000;" style="TEXT-INDENT:230.339783pt" colspan="2">
<p align="center" style="text-indent: 0">
<B><FONT size=2 face="Times New Roman">Contents</FONT></B><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid #000000;">
<a href="#Report_of_Independent_Registered_Public_Accounting_Firm">
<FONT size=2 face="Times New Roman">Report of Independent Registered Public Accounting Firm</FONT><font face="Times New Roman">&nbsp;</font></a></TD>
	<TD align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="Times New Roman">1</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="Times New Roman">Financial Statements</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:10.799561pt">
<a href="#Statements_of_Net_Assets_Available_for_Benefits">
<FONT size=2 face="Times New Roman">Statements of net assets available for benefits</FONT><font face="Times New Roman">&nbsp;</font></a></TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">2</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:10.799561pt">
<FONT size=2 face="Times New Roman">
<a href="#Statement_of_Changes_in_Net_Assets_Available_for_Benefits_For_the_Year_Ended_December_31,_2015">Statement of changes in net assets available for benefits</a></FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">3</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:10.799561pt">
<FONT size=2 face="Times New Roman">
<a href="#Note_1._____Description_of_the_Plan">Notes to financial statements</a></FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">4-17</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="Times New Roman">Supplemental Schedules</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:10.799561pt">
<a href="#Schedule_H,_Part_IV,_Line_4i&#151;
Schedule_of_Assets_(Held_at_End_of_Year)_December_31,_2015_">
<FONT size=2 face="Times New Roman">Schedule H, part IV, line 4i - Schedule of assets (held at end of year)</FONT><font face="Times New Roman">&nbsp;</font></a></TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">18</FONT><font face="Times New Roman">&nbsp;</font></TD>
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<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:10.799561pt">
<FONT size=2 face="Times New Roman">
<a href="#Schedule_H,_Part_IV,_Line_4a&#151;
Schedule_of_Delinquent_Participant_Contributions_December_31,_2015_">Schedule H, part IV, line 4a - Schedule of delinquent participant contributions</a></FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">19</FONT><font face="Times New Roman">&nbsp;</font></TD>
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</TABLE>
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<a name="_bclPageBorder24"></a></font>
<p style="margin: 0px">&nbsp;</p>
<p style="margin:0in;margin-bottom:.0001pt;">&nbsp;</p>
<p style="margin:0in;margin-bottom:.0001pt;"><b>
<font color=black face="Times New Roman" lang=EN-US size="2">
<a name="Report_of_Independent_Registered_Public_Accounting_Firm">Report of Independent Registered Public Accounting Firm</a></font></b></p>

<p style="line-height:9.9pt;margin:0in;margin-bottom:.0001pt;">
<font color=black face="Times New Roman" lang=EN-US size="2">&nbsp;</font></p>

<p style="line-height:9.9pt;margin:0in;margin-bottom:.0001pt;">
<font color=black face="Times New Roman" lang=EN-US size="2">&nbsp;</font></p>

<p style="line-height:9.9pt;margin:0in;margin-bottom:.0001pt;">
<font color=black face="Times New Roman" lang=EN-US size="2">&nbsp;</font></p>

<p style="line-height:9.9pt;margin:0in;margin-bottom:.0001pt;">
<font color=black face="Times New Roman" lang=EN-US size="2">To the Rio Tinto America Inc. Benefit
Governance Committee</font></p>

<p style="margin:0in;margin-bottom:.0001pt;">
<font color=black face="Times New Roman" lang=EN-US size="2">U.S. Borax Inc.
401(k) Savings &amp; Retirement Contribution Plan for Represented Employees</font></p>

<p style="margin:0in;margin-bottom:.0001pt;">
<font color=black face="Times New Roman" lang=EN-US size="2">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;">
<font color=black face="Times New Roman" lang=EN-US size="2">We have audited the accompanying statements of net assets
available for benefits of the </font>
<font face="Times New Roman" lang=EN-US size="2">U.S.</font><font face="Times New Roman" lang=EN-US style="letter-spacing:.55pt" size="2"> </font>
<font face="Times New Roman" lang=EN-US size="2">Borax</font><font face="Times New Roman" lang=EN-US style="letter-spacing:.55pt" size="2"> </font>
<font face="Times New Roman" lang=EN-US size="2">Inc.</font><font face="Times New Roman" lang=EN-US style="letter-spacing:.55pt" size="2"> </font>
<font face="Times New Roman" lang=EN-US size="2">401(k)</font><font face="Times New Roman" lang=EN-US style="letter-spacing:.55pt" size="2"> </font>
<font face="Times New Roman" lang=EN-US size="2">Savings</font><font face="Times New Roman" lang=EN-US style="letter-spacing:.55pt" size="2"> </font>
<font face="Times New Roman" lang=EN-US size="2">&amp; Retirement</font><font face="Times New Roman" lang=EN-US style="letter-spacing:.55pt" size="2"> </font>
<font face="Times New Roman" lang=EN-US size="2">Contribution Plan</font><font face="Times New Roman" lang=EN-US style="letter-spacing:.45pt" size="2"> </font>
<font face="Times New Roman" lang=EN-US size="2">for</font><font face="Times New Roman" lang=EN-US style="letter-spacing:.5pt" size="2"> </font>
<font face="Times New Roman" lang=EN-US size="2">Represented</font><font face="Times New Roman" lang=EN-US style="letter-spacing:.5pt" size="2"> </font>
<font face="Times New Roman" lang=EN-US size="2">Employees</font><font color=black face="Times New Roman" lang=EN-US size="2"> (the &#8220;Plan&#8221;) as of December
31, 2015 and 2014, and the related statement of changes in net assets available
for benefits for the year ended December 31, 2015.&#160; These financial statements are
the responsibility of the Plan&#8217;s management. Our responsibility is to express
an opinion on these financial statements based on our audits.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;">
<font color=black face="Times New Roman" lang=EN-US size="2">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;">
<font color=black face="Times New Roman" lang=EN-US size="2">We conducted our audits 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. </font>
<font face="Times New Roman" lang=EN-US size="2">The Plan is not required to have, nor were we engaged
to perform, an audit of its internal control over financial reporting. Our
audits included 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&#8217;s internal control over financial reporting. Accordingly, we express no
such opinion. </font>
<font color=black face="Times New Roman" lang=EN-US size="2">An audit also 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, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our
opinion.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;">
<font color=black face="Times New Roman" lang=EN-US size="2">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;">
<font color=black face="Times New Roman" lang=EN-US size="2">In our opinion, the financial statements referred to above present
fairly, in all material respects, the net assets available for benefits of the
Plan as of December 31, 2015 and 2014, and the changes in net assets available
for benefits for the year ended December 31, 2015, in conformity with
accounting principles generally accepted in the United States of America.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;">
<font color=black face="Times New Roman" lang=EN-US size="2">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;">
<font face="Times New Roman" lang=EN-US size="2">As discussed in Note 2 to the financial statements, in
2015, the Plan adopted new accounting guidance related to the presentation of
fair value of certain investments and disclosure of investments.&#160; Prior year amounts
for certain investments and related disclosures have been revised to reflect
the retrospective application of adopting these changes in accounting.&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;">
<font color=black face="Times New Roman" lang=EN-US size="2">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;">
<font color=black face="Times New Roman" lang=EN-US size="2">The supplemental information in the accompanying supplemental
schedules of assets (held at end of year) as of December 31, 2015 and </font>
<font face="Times New Roman" lang=EN-US size="2">delinquent</font><font face="Times New Roman" lang=EN-US style="letter-spacing:.5pt" size="2"> </font>
<font face="Times New Roman" lang=EN-US size="2">participant</font><font face="Times New Roman" lang=EN-US style="letter-spacing:.5pt" size="2"> </font>
<font face="Times New Roman" lang=EN-US size="2">contributions</font><font face="Times New Roman" lang=EN-US style="letter-spacing:.5pt" size="2"> </font>
<font face="Times New Roman" lang=EN-US size="2">for the year ended</font><font face="Times New Roman" lang=EN-US style="letter-spacing:.55pt" size="2"> </font>
<font face="Times New Roman" lang=EN-US size="2">December</font><font face="Times New Roman" lang=EN-US style="letter-spacing:.5pt" size="2"> </font>
<font face="Times New Roman" lang=EN-US size="2">31,</font><font face="Times New Roman" lang=EN-US style="letter-spacing:.5pt" size="2"> </font>
<font face="Times New Roman" lang=EN-US size="2">2015,
</font><font color=black face="Times New Roman" lang=EN-US size="2">have been subjected to audit procedures performed in
conjunction with the audit of the Plan&#8217;s financial statements.&#160; The
supplemental information is presented for the purpose of additional analysis
and is not a required part of the financial statements but include supplemental
information required by the Department of Labor&#8217;s Rules and Regulations for
Reporting and Disclosure under the Employee Retirement Income Security Act of
1974. The supplemental information is the responsibility of the Plan&#8217;s
management. Our audit procedures included determining whether the supplemental
schedules reconcile to the financial statements or the underlying accounting
and other records, as applicable, and performing procedures to test the
completeness and accuracy of the information presented in the supplemental
information. In forming our opinion on the supplemental information in the
accompanying schedules, we evaluated whether the supplemental information, including
its form and content, is presented in conformity with the Department of Labor&#8217;s
Rules and Regulations for Reporting and Disclosure under the Employee
Retirement Income Security Act of 1974. In our opinion, the supplemental
information in the accompanying schedules is fairly stated, in all material
respects, in relation to the financial statements as a whole.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;">
<font color=black face="Times New Roman" lang=EN-US size="2">&nbsp;</font></p>

<p style="line-height:120%;margin:0in;margin-bottom:.0001pt;">
<font face="Times New Roman" lang=EN-US style="line-height:120%" size="2">/s/ Anton Collins Mitchell LLP</font></p>

<p style="margin:0in;margin-bottom:.0001pt;">
<font color=black face="Times New Roman" lang=EN-US size="2">Denver, Colorado</font></p>

<p style="margin:0in;margin-bottom:.0001pt;">
<font color=black face="Times New Roman" lang=EN-US size="2">June 17, 2016</font></p>

<p style="margin:0in;margin-bottom:.0001pt;">
<font face="Times New Roman" lang=EN-US size="2">&nbsp;</font></p>
<p style="margin: 0px">&nbsp;</p>
<p style="margin: 0px">&nbsp;</p>
<p style="margin: 0px">&nbsp;</p>
<p style="margin: 0px">&nbsp;</p>
<p style="margin: 0px">&nbsp;</p>
<p style="margin: 0px" align="center"><font size="2">1</font></p>

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<A name="page_3"></A><BR>

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<P style="text-align: left;">
<B><FONT size=1 face="Times New Roman">U.S. Borax Inc. 401(k) Savings &amp; Retirement Contribution Plan for Represented Employees</FONT></B></P>
<DIV align="left">
<TABLE border=0 style="width:100%; border-bottom-width:0px" cellspacing=0>
<TR valign="bottom">
	<TD align=left>
<a name="Statements_of_Net_Assets_Available_for_Benefits">
<B><FONT size=2 face="Times New Roman">Statements of Net Assets Available for Benefits</FONT></B><font face="Times New Roman" size="2">&nbsp;</font></a></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="Times New Roman">December 31, 2015 and 2014</FONT></B><font face="Times New Roman" size="2">&nbsp;</font></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid
 #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid
 #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;">
<p align="center">
<FONT size=2 face="Times New Roman">2015&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;">
<p align="center">
<FONT size=2 face="Times New Roman">2014&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="Times New Roman">Investments at fair value (Notes 4 and 5):&nbsp;</FONT></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:8.219818pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Plan interest in Rio Tinto America Inc. Savings Plan Trust&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&#36;&nbsp;</FONT></TD>
	<TD align=right style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">42,911,621&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&#36;&nbsp;</FONT></TD>
	<TD align=right style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">43,913,833&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="Times New Roman">Notes from participants (Note 2)&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;">
<FONT size=2 face="Times New Roman">1,122,241&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;">
<FONT size=2 face="Times New Roman">1,179,290&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:40.919113pt" bgcolor="#E8FFFF">
<B><FONT size=2 face="Times New Roman">Net assets available for benefits</FONT></B><font face="Times New Roman" size="2">&nbsp;</font></TD>
	<TD align=left style="border-bottom:3px double #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&#36;&nbsp;</FONT></TD>
	<TD align=right style="border-bottom:3px double #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">44,033,862&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:3px double #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&#36;&nbsp;</FONT></TD>
	<TD align=right style="border-bottom:3px double #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">45,093,123&nbsp;</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align: left;">
<FONT size=1 face="Times New Roman">See Report of Independent Registered Public Accounting Firm and Notes to Financial Statements.</FONT></P>
<P style="text-align: left;">
&nbsp;</P>
<P style="text-align: left;">
&nbsp;</P>
<P style="text-align: left;">
&nbsp;</P>
<P style="text-align: left;">
&nbsp;</P>
<P style="text-align: left;">
&nbsp;</P>
<P style="text-align: center;">
<FONT size=2 face="Times New Roman">2</FONT></P>
</DIV>

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<font face="Times New Roman">




<A name="page_4"></A><BR>

<a name="_bclPageBorder4"></a></font>
<P style="text-align: left;"><B><FONT size=2 face="Times New Roman">U.S. Borax Inc. 401(k) Savings &amp; Retirement Contribution Plan for Represented Employees</FONT></B></P>
<P style="text-align: left;"><B><FONT size=2 face="Times New Roman">
<a name="Statement_of_Changes_in_Net_Assets_Available_for_Benefits_For_the_Year_Ended_December_31,_2015">Statement of Changes in Net Assets Available for Benefits For the Year Ended December 31, 2015</a></FONT></B></P>
<TABLE border=0 style="width:100%; border-bottom-width:0px" cellspacing=0>
	<TR>
		<TD width="82%"></TD>
		<TD width="5%"></TD>
		<TD width=12%></TD>
	</TR>
	<TR valign="bottom">
		<TD align=left><FONT size=2 face="Times New Roman">Investment results (Note 4):</FONT><font face="Times New Roman">&nbsp;</font></TD>
		<TD align=left>&nbsp;</TD>
		<TD align=left>&nbsp;</TD>
	</TR>
	<TR valign="bottom">
		<TD align=left style="TEXT-INDENT:8.759552pt" bgcolor="#E8FFFF">
		<FONT size=2 face="Times New Roman">Plan interest in Rio Tinto America Inc. Savings Plan Trust&#146;s investment loss</FONT><font face="Times New Roman">&nbsp;</font></TD>
		<TD align=left style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF"><FONT size=2 face="Times New Roman">&#36;</FONT><font face="Times New Roman">&nbsp;</font></TD>
		<TD align=right style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF"><FONT size=2 face="Times New Roman">(376,305)</FONT></TD>
	</TR>
	<TR valign="bottom">
		<TD align=left><FONT size=2 face="Times New Roman">Interest income on notes from participants</FONT><font face="Times New Roman">&nbsp;</font></TD>
		<TD align=left>&nbsp;</TD>
		<TD align=right><FONT size=2 face="Times New Roman">52,459</FONT><font face="Times New Roman">&nbsp;</font></TD>
	</TR>
	<TR valign="bottom">
		<TD align=left bgcolor="#E8FFFF"><FONT size=2 face="Times New Roman">Contributions:</FONT><font face="Times New Roman">&nbsp;</font></TD>
		<TD align=left bgcolor="#E8FFFF">&nbsp;</TD>
		<TD align=left bgcolor="#E8FFFF">&nbsp;</TD>
	</TR>
	<TR valign="bottom">
		<TD align=left style="TEXT-INDENT:8.759552pt">
		<FONT size=2 face="Times New Roman">Participants</FONT><font face="Times New Roman">&nbsp;</font></TD>
		<TD align=left>&nbsp;</TD>
		<TD align=right><FONT size=2 face="Times New Roman">2,242,235</FONT><font face="Times New Roman">&nbsp;</font></TD>
	</TR>
	<TR valign="bottom">
		<TD align=left style="TEXT-INDENT:8.759552pt" bgcolor="#E8FFFF">
		<FONT size=2 face="Times New Roman">Employer</FONT><font face="Times New Roman">&nbsp;</font></TD>
		<TD align=left style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">&nbsp;</TD>
		<TD align=right style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF"><FONT size=2 face="Times New Roman">819,960</FONT><font face="Times New Roman">&nbsp;</font></TD>
	</TR>
	<TR valign="bottom">
		<TD align=left style="TEXT-INDENT:43.799637pt"><B>
		<FONT size=2 face="Times New Roman">Total contributions</FONT></B><font face="Times New Roman">&nbsp;</font></TD>
		<TD align=left style="border-bottom:1px solid
 #000000;">&nbsp;</TD>
		<TD align=right style="border-bottom:1px solid
 #000000;"><FONT size=2 face="Times New Roman">3,062,195</FONT><font face="Times New Roman">&nbsp;</font></TD>
	</TR>
	<TR valign="bottom">
		<TD align=left style="TEXT-INDENT:43.799637pt">&nbsp;</TD>
		<TD align=left style="border-bottom:medium none #000000;">&nbsp;</TD>
		<TD align=right style="border-bottom:medium none #000000;">&nbsp;</TD>
	</TR>
	<TR valign="bottom">
		<TD align=left style="TEXT-INDENT:0.000946pt" bgcolor="#E8FFFF">
		<FONT size=2 face="Times New Roman">Benefits paid to participants and loans deemed distributed</FONT><font face="Times New Roman">&nbsp;</font></TD>
		<TD align=left style="border-bottom:1px solid #000000;; border-top-style:none; border-top-width:medium" bgcolor="#E8FFFF">&nbsp;</TD>
		<TD align=right style="border-bottom:1px solid #000000;; border-top-style:none; border-top-width:medium" bgcolor="#E8FFFF"><FONT size=2 face="Times New Roman">(3,733,023)</FONT></TD>
	</TR>
	<TR valign="bottom">
		<TD align=left style="TEXT-INDENT:0.000946pt" bgcolor="#E8FFFF">&nbsp;</TD>
		<TD align=left style="border-bottom:medium none #000000;" bgcolor="#E8FFFF">&nbsp;</TD>
		<TD align=right style="border-bottom:medium none #000000;" bgcolor="#E8FFFF">&nbsp;</TD>
	</TR>
	<TR valign="bottom">
		<TD align=left style="TEXT-INDENT:0.000946pt">
		<FONT size=2 face="Times New Roman">Administrative expenses</FONT><font face="Times New Roman">&nbsp;</font></TD>
		<TD align=left style="border-bottom:1px solid #000000;; border-top-style:none; border-top-width:medium">&nbsp;</TD>
		<TD align=right style="border-bottom:1px solid #000000;; border-top-style:none; border-top-width:medium"><FONT size=2 face="Times New Roman">(24,992)</FONT></TD>
	</TR>
	<TR valign="bottom">
		<TD align=left style="TEXT-INDENT:0.000946pt">&nbsp;</TD>
		<TD align=left style="border-bottom:1px solid
 #000000;">&nbsp;</TD>
		<TD align=right style="border-bottom:1px solid
 #000000;">&nbsp;</TD>
	</TR>
	<TR valign="bottom">
		<TD align=left style="TEXT-INDENT:43.801529pt" bgcolor="#E8FFFF"><B>
		<FONT size=2 face="Times New Roman">Net decrease before transfers</FONT></B><font face="Times New Roman">&nbsp;</font></TD>
		<TD align=left bgcolor="#E8FFFF">&nbsp;</TD>
		<TD align=right bgcolor="#E8FFFF"><FONT size=2 face="Times New Roman">(1,019,666)</FONT></TD>
	</TR>
	<TR valign="bottom">
		<TD align=left style="TEXT-INDENT:43.801529pt" bgcolor="#E8FFFF">&nbsp;</TD>
		<TD align=left bgcolor="#E8FFFF">&nbsp;</TD>
		<TD align=right bgcolor="#E8FFFF">&nbsp;</TD>
	</TR>
	<TR valign="bottom">
		<TD align=left style="TEXT-INDENT:0.001892pt">
		<FONT size=2 face="Times New Roman">Transfers to the Rio Tinto America Inc. 401(k) Savings Plan and</FONT><font face="Times New Roman">&nbsp;</font></TD>
		<TD align=left>&nbsp;</TD>
		<TD align=left>&nbsp;</TD>
	</TR>
	<TR valign="bottom">
		<TD align=left style="TEXT-INDENT:8.761444pt" bgcolor="#E8FFFF">
		<FONT size=2 face="Times New Roman">Investment Partnership Plan (Note 1)</FONT><font face="Times New Roman">&nbsp;</font></TD>
		<TD align=left style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">&nbsp;</TD>
		<TD align=right style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF"><FONT size=2 face="Times New Roman">(39,595)</FONT></TD>
	</TR>
	<TR valign="bottom">
		<TD align=left style="TEXT-INDENT:8.761444pt" bgcolor="#E8FFFF">&nbsp;</TD>
		<TD align=left style="border-bottom:medium none #000000;" bgcolor="#E8FFFF">&nbsp;</TD>
		<TD align=right style="border-bottom:medium none #000000;" bgcolor="#E8FFFF">&nbsp;</TD>
	</TR>
	<TR valign="bottom">
		<TD align=left style="TEXT-INDENT:43.801529pt"><B>
		<FONT size=2 face="Times New Roman">Net decrease after transfers</FONT></B><font face="Times New Roman">&nbsp;</font></TD>
		<TD align=left style="border-top-style: none; border-top-width: medium">&nbsp;</TD>
		<TD align=right style="border-top-style: none; border-top-width: medium"><FONT size=2 face="Times New Roman">(1,059,261)</FONT></TD>
	</TR>
	<TR valign="bottom">
		<TD align=left style="TEXT-INDENT:43.801529pt">&nbsp;</TD>
		<TD align=left>&nbsp;</TD>
		<TD align=right>&nbsp;</TD>
	</TR>
	<TR valign="bottom">
		<TD align=left style="TEXT-INDENT:0.001892pt" bgcolor="#E8FFFF">
		<FONT size=2 face="Times New Roman">Net assets available for benefits:</FONT><font face="Times New Roman">&nbsp;</font></TD>
		<TD align=left bgcolor="#E8FFFF">&nbsp;</TD>
		<TD align=left bgcolor="#E8FFFF">&nbsp;</TD>
	</TR>
	<TR valign="bottom">
		<TD align=left style="TEXT-INDENT:8.761444pt">
		<FONT size=2 face="Times New Roman">Beginning of the year</FONT><font face="Times New Roman">&nbsp;</font></TD>
		<TD align=left style="border-bottom:1px solid
 #000000;">&nbsp;</TD>
		<TD align=right style="border-bottom:1px solid
 #000000;"><FONT size=2 face="Times New Roman">45,093,123</FONT><font face="Times New Roman">&nbsp;</font></TD>
	</TR>
	<TR valign="bottom">
		<TD align=left style="TEXT-INDENT:8.761444pt" bgcolor="#E8FFFF">
		<FONT size=2 face="Times New Roman">End of the year</FONT><font face="Times New Roman">&nbsp;</font></TD>
		<TD align=left style="border-bottom:3px double #000000;" style="TEXT-INDENT:0.001892pt" bgcolor="#E8FFFF">
		<FONT size=2 face="Times New Roman">&#36;</FONT><font face="Times New Roman">&nbsp;</font></TD>
		<TD align=right style="border-bottom:3px double #000000;" bgcolor="#E8FFFF">
		<FONT size=2 face="Times New Roman">44,033,862</FONT><font face="Times New Roman">&nbsp;</font></TD>
	</TR>
</TABLE>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align: left;"><FONT size=2 face="Times New Roman">See Report of Independent Registered Public Accounting Firm and Notes to Financial Statements.</FONT></P>
<P style="text-align: left;">&nbsp;</P>
<P style="text-align: left;">&nbsp;</P>
<P style="text-align: left;">&nbsp;</P>
<P style="text-align: left;">&nbsp;</P>
<P style="text-align: center;"><FONT size=2 face="Times New Roman">3</FONT></P>

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<font face="Times New Roman">




<A name="page_5"></A><BR>

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<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">U.S. Borax Inc. 401(k) Savings &amp; Retirement Contribution Plan for Represented Employees</FONT></B></P>
<P style="text-align: left; margin-bottom:0">
<B><FONT size=2 face="Times New Roman">Notes to Financial Statements</FONT></B></P>
<hr>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">
<a name="Note_1._____Description_of_the_Plan">Note 1.&nbsp;&nbsp;&nbsp;&nbsp; Description of the Plan</a></FONT></B></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">The following description of the U.S. Borax Inc. 401(k) Savings &amp; Retirement Contribution Plan for Represented Employees, (the &#147;Plan&#148; or the &#147;Borax Plan&#148;) provides only general information. Participants should refer to the plan document, summary plan description and union agreement for a more complete description of the Plan&#146;s provisions.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">General: </FONT></B>
<FONT size=2 face="Times New Roman">The Plan is a defined contribution plan covering all hourly employees of U.S. Borax Inc. (the &#147;Company&#148; or the &#147;Employer&#148;) who are Boron or Wilmington represented hourly employees and who are represented by or included in a collective bargaining unit of the Company, as defined in the plan document. Eligible Boron employees can contribute to the
Plan and receive the Company match on the first day of the calendar month after the employee&#146;s employment commencement date. Eligible Wilmington employees can contribute to the
Plan and receive the Company match immediately upon employment commencement.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">U.S. Borax Inc. is an indirect, wholly owned subsidiary of Rio Tinto America Inc., which is an indirect, wholly owned subsidiary of Rio Tinto plc (the &#147;Parent&#148;). The Plan has appointed State Street Bank &amp; Trust Company (&#147;State Street&#148; or &#147;Plan Trustee&#148;) to be the trustee of the Plan. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (&#147;ERISA&#148;), as amended.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">The Plan is part of Rio Tinto America Inc. Savings Plan Trust (the &#147;Master Trust&#148;), whose assets are held with State Street. The Master Trust was established August 1, 2010, to hold the qualified defined contribution investment assets of the Plan and certain other benefit plans sponsored by Rio Tinto America Holdings Inc. (and its subsidiaries).</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Contributions: </FONT></B>
<FONT size=2 face="Times New Roman">Participants may elect, under a salary reduction agreement, to contribute to the Plan an amount not less than one percent and not more than 30 percent of their eligible compensation on a before-tax basis through payroll deductions. Before-tax contributions are limited by the Internal Revenue Code (&#147;IRC&#148;), which established a maximum contribution of &#36;18,000 (&#36;24,000 for participants over age 50) for the year ended December 31, 2015. Participants may also elect to make after-tax contributions not less than one percent and not more than 30 percent of their eligible compensation. Total before-tax and after-tax contributions cannot exceed 30 percent of each participant&#146;s eligible compensation.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">The Company matches participants&#146; contributions. For Boron participants, the Company matches 30 percent of the participants&#146; before-tax and/or after-tax contributions up to the first five percent of their eligible compensation (match not to exceed 1.5 percent of eligible compensation). For Wilmington participants, the Company matches 35 percent of the participants&#146; before-tax and/or after-tax contributions up to the first five percent of their eligible compensation (match not to exceed 1.75 percent of eligible compensation).</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">The Company also makes Retirement Contribution Plan (&#147;RCP&#148;) contributions. To be eligible for RCP contributions, the participant must be employed by the Company for 60 days and hired after May 17, 2010 and June
17, 2011 at Boron or Wilmington, respectively. The Company contributes four percent of the participant&#146;s adjusted compensation, as defined.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Rollovers: </FONT></B>
<FONT size=2 face="Times New Roman">An employee can make rollover contributions from another qualified plan or an individual retirement account (&#147;IRA&#148;) if certain criteria are met as set forth in the plan document.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">The Plan does not permit Participants to invest rollover contributions into the common stock of the Parent in the form of a unitized fund with American Depository Receipts (&#147;ADRs&#148;) (the &#147;Company Stock Fund&#148; or &#147;Employer Stock Fund&#148; or &#147;Rio Tinto ADR Stock Fund&#148;).</FONT></P>
<P style="text-align: left;">
&nbsp;</P>
<P style="text-align: left;">
&nbsp;</P>
<P style="text-align: center;">
<FONT size=2 face="Times New Roman">4</FONT></P>
</DIV>

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<A name="page_6"></A><BR>

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<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">U.S. Borax Inc. 401(k) Savings &amp; Retirement Contribution Plan for Represented Employees </FONT></B></P>
<P style="text-align: left; margin-bottom:0">
<B><FONT size=2 face="Times New Roman">Notes to Financial Statements </FONT></B></P><hr>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Note 1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Description of the Plan (Continued)</FONT></B></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Participant accounts: </FONT></B>
<FONT size=2 face="Times New Roman">Each participant&#146;s account is credited with the participant&#146;s contributions; the Company&#146;s matching contributions, the Company&#146;s RCP contributions, an allocation of Plan earnings (losses), and administrative expenses. Allocations are based on participant earnings (losses), or account balances, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participant&#146;s vested account.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Participant-directed options for investments: </FONT></B>
<FONT size=2 face="Times New Roman">Participants have the option to allocate
plan contributions among various investment options, including the Rio Tinto ADR Stock Fund. All choices vary in types of investments, rates of return and investment risk. Participants may elect to have all or part of their account balances and future contributions invested in one fund, transferred to another fund, or in any combination
(except as noted below). Company RCP contributions are not eligible to be contributed to the Rio Tinto ADR Stock Fund. Participants also have the option to invest in managed funds that are weighted based on the participant&#146;s retirement date. The funds assume participants will retire upon reaching age 65 and invest in various collective trust and mutual funds.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">The Plan limits the total amount of participant contributions and the company matching contributions to the Rio Tinto ADR Stock Fund to a maximum of 20 percent of such contributions. The Plan does not permit Participants to transfer funds into the Rio Tinto ADR Stock Fund, including rollover contributions; however Participants are permitted to transfer funds out of the Rio Tinto ADR Stock Fund or to re-allocate their portfolio among all other funds with the exception of the Rio Tinto ADR Stock Fund.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Vesting: </FONT></B>
<FONT size=2 face="Times New Roman">Participants are immediately vested in their contributions and Company matching contributions plus actual earnings or losses thereon. Vesting in the Company&#146;s RCP contributions is graded based on completed years of service. A participant is 100 percent vested after five completed years of credited service, or at time of death or attainment of age 65.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Payment of benefits: </FONT></B>
<FONT size=2 face="Times New Roman">Upon termination, retirement, death or becoming permanently disabled, participants, or their beneficiaries may elect to receive lump-sum distributions, installment payments, or rollover distributions in an amount equal to the value of the participants&#146; vested interests in their accounts. If a participant terminates employment and the participant&#146;s account balance is less than &#36;1,000, the Plan Administrator will authorize the benefit payment in a single lump sum without the participant&#146;s consent. During employment, participants may withdraw account balances for financial hardship and other in-service withdrawals, as defined.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Notes from participants: </FONT></B>
<FONT size=2 face="Times New Roman">Participants may borrow from their total account balance a minimum of &#36;1,000 up to a maximum equal to the lesser of &#36;50,000 or 50 percent of the participant&#146;s total vested account balance. Note terms range from one to five years or up to 20 years for the purchase of a primary residence. Notes to participants are treated as a separate investment of the participant, and all principal and interest payments on note balances are credited to the participant account from which the note to the participant was made. Notes from participants bear interest at rates ranging from 4.25 percent to 5.25 percent at December 31, 2015. Principal and interest are paid ratably through payroll deductions.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">For new loans issued on or after May 1, 2014, the interest rate was changed to two percent above the prime rate at the beginning of the last month preceding the calendar quarter in which the loan is approved.</FONT></P>
<P style="text-align: center;">
<FONT size=2 face="Times New Roman">5</FONT></P>
</DIV>

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<A name="page_7"></A><BR>

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<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">U.S. Borax Inc. 401(k) Savings &amp; Retirement Contribution Plan for Represented Employees </FONT></B></P>
<P style="text-align: left; margin-bottom:0">
<B><FONT size=2 face="Times New Roman">Notes to Financial Statements </FONT></B></P><hr>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Note 1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Description of the Plan (Continued)</FONT></B></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Transfers: </FONT></B>
<FONT size=2 face="Times New Roman">Company employees not represented by a collective bargaining unit (non-represented employees) participate in the Rio Tinto America Inc. 401(k) Savings Plan and Investment Partnership Plan (the &#147;RTAI Plan&#148;). If employees change from represented to non-represented status during the year, their account balances are transferred within the Master Trust from the Borax Plan to the RTAI Plan.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Forfeitures: </FONT></B>
<FONT size=2 face="Times New Roman">Forfeitures are used to first restore re-employed participants&#146; accounts and secondly to pay administrative expenses and/or to reduce future Company contributions. At December 31, 2015 and 2014, forfeited non-vested accounts were approximately &#36;20,000 and &#36;37,000, respectively. Approximately &#36;24,000 in forfeitures were used to pay administrative expenses for the year ended December 31, 2015. No forfeitures were used to pay Company contributions for the year ended December 31, 2015.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">If the distribution of a participant&#146;s account is outstanding for five years or more, and reasonable efforts were made to locate the participant, such participant&#146;s benefit may be forfeited. Any forfeitures from the Master Trust can be utilized to reinstate benefits should a participant or beneficiary make a claim for the forfeited benefit.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Rescission Offer: </FONT></B>
<FONT size=2 face="Times New Roman">On March 6, 2015, the Parent launched an offer (the &#147;Rescission Offer&#148;) to rescind the previous purchase of ordinary shares of Rio Tinto plc in the form of American Depositary Shares (&#147;ADSs&#148;) included 93,043 units (&#147;Units&#148;) in the Rio Tinto ADR Stock Fund by persons who acquired such Units from September 9, 2013 through September 8, 2014 through the RTAI Plan, the Kennecott Utah Copper Savings Plan for Represented Employees (the &#147;KUC Plan&#148;), and the Borax Plan. Each Unit represents an interest in ADSs plus a varying amount of short-term liquid investments. The Rescission Offer was undertaken because Rio Tinto was required to register the deemed sale of the ADSs included in these Units to Plan participants with the U.S. Securities and Exchange Commission (the &#147;SEC&#148;) and had not properly done so. A total of 5,743 Units were repurchased as part of the Rescission Offer.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Stock Freeze: </FONT></B>
<FONT size=2 face="Times New Roman">In order to comply with applicable U.S. federal securities laws and the regulations promulgated thereunder, from July 14, 2015 at 4:00 pm U.S. Eastern Time through November 30, 2015 at 4:00 pm U.S. Eastern Time, the Parent suspended all trading in the Rio Tinto ADR Stock Fund under the RTAI Plan, the KUC Plan, the Borax Plan and the Rio Tinto Alcan 401(k) Savings Plan for Former Employees (the &#147;Rio Tinto Alcan Plan&#148;). The suspension resulted from notification to the Plan&#146;s administrative committee, the Rio Tinto America Inc. Benefit Governance Committee (&#147;BGC&#148;), by McGladrey LLP (&#147;McGladrey&#148;), the former independent registered public accounting firm of the plans, that McGladrey believed certain services performed by its associated entities for affiliates of the plans may have been inconsistent with the SEC&#146;s rules on auditor independence. The BGC ultimately engaged Anton Collins Mitchell LLP as the plans&#146; independent registered public accounting firm to complete the audits and re-audits of the plans&#146; previously filed financial statements.</FONT></P>
<P style="text-align: center;">
<FONT size=2 face="Times New Roman">6</FONT></P>
</DIV>

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<A name="page_8"></A><BR>

<a name="_bclPageBorder8"></a></font><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">U.S. Borax Inc. 401(k) Savings &amp; Retirement Contribution Plan for Represented Employees </FONT></B></P>
<P style="text-align: left; margin-bottom:0">
<B><FONT size=2 face="Times New Roman">Notes to Financial Statements </FONT></B></P><hr>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Note 1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Description of the Plan (Continued)</FONT></B></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">Due to the temporary freeze of all trading on this fund, the Rio Tinto ADR Stock Fund became a nonparticipant-directed investment during the period from July 15, 2015 through November 30, 2015. During this period, new participant contributions were invested in the applicable target retirement fund instead of the Rio Tinto ADR Stock Fund, unless the participant made a change in his or her investment elections. Information about the net assets and the significant components of the changes in net assets relating to the nonparticipant-directed investments is as follows:</FONT></P>
<DIV align="left">
<TABLE border=0 style="width:100%; border-bottom-width:0px" cellspacing=0>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=center style="border-bottom:1px solid
 #000000;" colspan="2" width="15%">
<FONT size=2 face="Times New Roman">July 15, 2015</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=center colspan=2 style="border-bottom:1px solid
 #000000;" style="TEXT-INDENT:3.714020pt" width="15%">
<FONT size=2 face="Times New Roman">November 30, 2015</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="TEXT-INDENT:2.279327pt">
<FONT size=2 face="Times New Roman">Net assets:</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="TEXT-INDENT:9.284424pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Rio Tinto plc common stock ADRs</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&#36;</FONT></TD>
	<TD align=right style="border-bottom:1px solid
 #000000;" style="TEXT-INDENT:20.219604pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">27,102,597</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&#36;</FONT></TD>
	<TD align=right style="border-bottom:1px solid
 #000000;" style="TEXT-INDENT:20.308228pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">22,153,544</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="TEXT-INDENT:2.279327pt">
<FONT size=2 face="Times New Roman">Total net assets</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left style="border-bottom:3px double #000000;">
<FONT size=2 face="Times New Roman">&#36;</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=right style="border-bottom:3px double #000000;" style="TEXT-INDENT:20.218750pt">
<FONT size=2 face="Times New Roman">27,102,597</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left style="border-bottom:3px double #000000;" style="TEXT-INDENT:0.001801pt">
<FONT size=2 face="Times New Roman">&#36;</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=right style="border-bottom:3px double #000000;" style="TEXT-INDENT:20.303711pt">
<FONT size=2 face="Times New Roman">22,153,544</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR>
	<TD colspan=6>
&nbsp;</TD>
</TR>
<TR>
	<TD colspan=6>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=center colspan="2">
<FONT size=2 face="Times New Roman">Period from</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=center colspan="2">
<FONT size=2 face="Times New Roman">July 15, 2015</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=center colspan="2">
<FONT size=2 face="Times New Roman">through</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=center colspan=2 style="border-bottom:1px solid
 #000000;" style="TEXT-INDENT:3.720306pt">
<FONT size=2 face="Times New Roman">November 30, 2015</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="TEXT-INDENT:2.277527pt">
<FONT size=2 face="Times New Roman">Changes in net assets:</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="TEXT-INDENT:9.280701pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Net depreciation</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&#36;</FONT></TD>
	<TD align=right style="border-bottom:1px solid
 #000000;" style="TEXT-INDENT:22.499176pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">(4,949,053)</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="TEXT-INDENT:2.277527pt">
<FONT size=2 face="Times New Roman">Total changes in net assets</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left style="border-bottom:3px double #000000;">
<FONT size=2 face="Times New Roman">&#36;</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=right style="border-bottom:3px double #000000;" style="TEXT-INDENT:22.489288pt">
<FONT size=2 face="Times New Roman">(4,949,053)</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR>
	<TD colspan=6>
&nbsp;</TD>
</TR>
<TR>
	<TD colspan=6>
&nbsp;</TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">
<B><FONT size=2 face="Times New Roman">Note 2.</FONT></B><font face="Times New Roman">&nbsp;</font><B><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; Summary of Significant Accounting Policies</FONT></B><font face="Times New Roman">&nbsp;</font></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Basis of presentation: </FONT></B>
<FONT size=2 face="Times New Roman">The financial statements of the Plan reflect transactions on the accrual basis of accounting.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Use of estimates: </FONT></B>
<FONT size=2 face="Times New Roman">The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America requires plan management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities and changes therein, at the date of the financial statements, and additions and deductions during the reporting period. Actual results could differ from those estimates.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Concentrations, risks and uncertainties: </FONT></B>
<FONT size=2 face="Times New Roman">The Master Trust invests in various investment securities. Investment securities are exposed to various risks, such as interest rate, market, currency exchange rate, and credit risks. 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&#146; account balances and the amounts reported in the statements of net assets available for benefits. The Plan&#146;s investments in the Invesco Stable Value Fund and Dodge and Cox Stock Fund represent 38.4 percent and 10.2 percent of the Plan&#146;s total investments in the Master Trust, respectively,
at December 31, 2015. The Rio Tinto America Inc. Savings Plan Investment Committee (&#147;Investment Committee&#148;) monitors investment performance on a quarterly basis.</FONT></P>
<P style="text-align: center;">
<FONT size=2 face="Times New Roman">7</FONT></P>
</DIV>

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<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">U.S. Borax Inc. 401(k) Savings &amp; Retirement Contribution Plan for Represented Employees </FONT></B></P>
<P style="text-align: left; margin-bottom:0">
<B><FONT size=2 face="Times New Roman">Notes to Financial Statements </FONT></B></P><hr>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Note 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Summary of Significant Accounting Policies (Continued)</FONT></B></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Investment valuation and income recognition: </FONT></B>
<FONT size=2 face="Times New Roman">Investments are reported at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Plan&#146;s Investment Committee determines the Plan&#146;s valuation policies utilizing information provided by the investment advisors and Plan Trustee. See Note 5 for a discussion of fair value measurements.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">Interest income is recorded on the accrual basis, and dividends are recorded on the ex-dividend date. Net appreciation (depreciation) includes gains and losses on investments bought and sold as well as held during the year. Realized gains and losses related to sales of investments are recorded on a trade-date basis. Investment income (loss) is allocated to the Plan based upon its pro rata share in the net assets of the Master Trust. Expenses are allocated to the Plan based on actual costs incurred and its pro rata share in the net assets of the Master Trust.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Payment of benefits: </FONT></B>
<FONT size=2 face="Times New Roman">Benefits are recorded when paid by the Plan.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Contributions</FONT></B><FONT size=2 face="Times New Roman">: Employee contributions and related matching contributions are recorded when withheld from the participants&#146; compensation.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Administrative expenses: </FONT></B>
<FONT size=2 face="Times New Roman">Certain investment advisor, legal and other administrative fees were paid from the Plan for the year ended December 31, 2015. The Company provides accounting and other services for the Plan at no cost to the Plan. All other expenses related to administering the Plan were paid by the Company, and were excluded from these financial statements.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">The Master Trust has several fund managers that manage the investments held by the Plan. Fees for certain investment fund management services are included as a reduction of the return earned on each fund. The fees related to transaction costs associated with the purchase or sale of Rio Tinto plc common stock ADRs are paid by the participants.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Notes from participants: </FONT></B>
<FONT size=2 face="Times New Roman">Notes from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. No allowance for credit losses has been recorded at December 31, 2015 or 2014. Defaulted notes from participants are recorded as a distribution in the year of default. Interest income from loans is recorded on the accrual basis.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">Accounting guidance requires that participant loans be classified as notes from participants, which are segregated from plan investments. Notes from participants have been classified as an investment asset for Form 5500 reporting purposes.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Subsequent events: </FONT></B>
<FONT size=2 face="Times New Roman">The Plan Administrator has evaluated subsequent events through June 17, 2016, which is the date the financial statements were available to be issued. See Note 11.</FONT></P>
<P style="text-align: center;">
<FONT size=2 face="Times New Roman">8</FONT></P>
</DIV>

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<font face="Times New Roman">




<A name="page_10"></A><BR>

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<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">U.S. Borax Inc. 401(k) Savings &amp; Retirement Contribution Plan for Represented Employees </FONT></B></P>
<P style="text-align: left; margin-bottom:0">
<B><FONT size=2 face="Times New Roman">Notes to Financial Statements </FONT></B></P><hr>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Note 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Summary of Significant Accounting Policies (Continued)</FONT></B></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">New accounting pronouncements: </FONT></B>
<FONT size=2 face="Times New Roman">In May 2015, the Financial Accounting Standards Board (&#147;FASB&#148;) issued Accounting Standards Update 2015-07 which provides new guidance under Topic 820, </FONT><I>
<FONT size=2 face="Times New Roman">Fair Value Measurements, Disclosures for Investments in Certain Entities that Calculate Net Asset Value per Share (or Its Equivalent). </FONT></I>
<FONT size=2 face="Times New Roman">The update removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value (&#147;NAV&#148;) per share as a practical expedient. The update also removes the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the NAV per share as a practical expedient. Rather, those disclosures are limited to investments for which the entity has elected to measure the fair value using that practical expedient. This update is effective for all public entities for fiscal years beginning after December 15, 2015 and must be applied retrospectively with early adoption permitted. Management has elected to adopt ASU 2015-07 for the 2015 plan year, and has therefore removed investments for which fair value is measured using NAV as a practical expedient from the fair value hierarchy table (see Note 5).</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">In July 2015, the FASB issued ASU 2015-12, Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): (Part I) Fully Benefit-Responsive Investment Contracts, (Part II) Plan Investment Disclosures, (Part III) Measurement Date Practical Expedient. Part I eliminates the requirements to measure the fair value of fully benefit-responsive investment contracts and provide certain disclosures. Contract value is the only required measure for fully benefit-responsive investment contracts. Part II eliminates the requirements to disclose individual investments that represent 5 percent or more of net assets available for benefits and the net appreciation or depreciation in fair value of investments by general type. Part II also simplifies the level of disaggregation of investments that are measured using fair value. Plans will continue to disaggregate investments that are measured using fair value by general type; however, plans are no longer required to also disaggregate investments by nature, characteristics and risks. Further, the disclosure of information about fair value measurements shall be provided by general type of plan asset. Part III is not applicable to the Plan. The ASU is effective for fiscal years beginning after December 15, 2015, with early adoption permitted. Parts I and II are to be applied retrospectively.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">Management has elected to adopt Part I early. Accordingly, the amendment was retrospectively applied, resulting in the removal of the adjustment from fair value to contract value as of December 31, 2014 of &#36;280,403 for this plan and &#36;2,742,698 for the Master Trust. Management has also elected to adopt Part II early. Accordingly, the amendment was retrospectively applied, resulting in the removal of the disclosures of individual investments that represent five percent or more of net assets available for benefits, the net appreciation or depreciation in fair value of investments by general type; and the level of disaggregation of investments that are measured at fair value has been simplified by disaggregating investments by general type versus disaggregating by nature, characteristics and risks.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Note 3</FONT></B><FONT size=2 face="Times New Roman">.</FONT><B><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; Stable Value Investments</FONT></B></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">At December 31, 2015 and 2014, the Master Trust&#146;s investments include the Invesco Stable Value Trust (&#147;Invesco SVT&#148;), a collective investment trust. The Invesco Stable Value Trust is invested in the following:</FONT></P>
<table border="0" width="100%">
	<tr>
		<td width="5%">&nbsp;</td>
		<td width="5%" align="center"><font face="Times New Roman">-</font></td>
		<td width="90%"><FONT size=2 face="Times New Roman">A money market fund;</FONT></td>
	</tr>
	<tr>
		<td width="5%">&nbsp;</td>
		<td width="5%" align="center"><font face="Times New Roman">-</font></td>
		<td width="90%"><FONT size=2 face="Times New Roman">Fully benefit-responsive synthetic guaranteed investment contracts (&#147;synthetic GICs&#148;); and</FONT></td>
	</tr>
	<tr>
		<td width="5%">&nbsp;</td>
		<td width="5%" align="center"><font face="Times New Roman">-</font></td>
		<td width="90%"><FONT size=2 face="Times New Roman">Fully benefit-responsive traditional guaranteed investment contracts (&#147;traditional GICs&#148;).</FONT></td>
	</tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<P style="text-align: center;">
<FONT size=2 face="Times New Roman">9</FONT></P>
</DIV>

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<font face="Times New Roman">




<A name="page_11"></A><BR>

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<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">U.S. Borax Inc. 401(k) Savings &amp; Retirement Contribution Plan for Represented Employees </FONT></B></P>
<P style="text-align: left; margin-bottom:0">
<B><FONT size=2 face="Times New Roman">Notes to Financial Statements </FONT></B></P><hr>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Note 3</FONT></B><FONT size=2 face="Times New Roman">.&nbsp;&nbsp;&nbsp;&nbsp; </FONT>
<B><FONT size=2 face="Times New Roman">Stable Value Investments (Continued)</FONT></B></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">Synthetic GICs provide for a guaranteed return on principal over a specified period of time through fully benefit-responsive wrap contracts, which are secured by underlying assets. The fair value of the wrap contracts is determined based on the change in the present value of each contract&#146;s replacement cost. The Invesco SVT&#146;s wrapper contract is with high-quality insurance companies or banks. The Invesco SVT contracts have an element of risk due to lack of a secondary market and resale restrictions, resulting in the inability of the Invesco SVT to sell a contract. They also may be subject to credit risk based on the ability of the wrapper providers to meet their obligations of the contract.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">Traditional GICs provide for a guaranteed interest rate for a specified time. Interest is accrued on either a simple interest or fully compounded basis and paid either periodically or at the end of the contract term. The issuer guarantees that all qualified participant withdrawals will occur at contract value (principal plus accrued interest). Interest crediting rate is typically fixed for the life of the investment and do not permit issuers to terminate the agreement prior to the scheduled maturity date.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">The crediting interest rates of all the synthetic GIC contracts are based upon agreed-upon formulas with the issuing third-party, as defined in the contract agreement but cannot be less than zero. The crediting interest rates for Invesco SVT synthetic GICs is typically reset on a monthly or quarterly basis according to the contract. Crediting interest rates are based on the level of market interest rates, the amount and timing of participant contributions, transfers, and withdrawals into/out of the wrapper contract, the investment returns generated by the fixed income investments that back the wrapper contract, and the duration of the underlying fixed income investments backing the wrapper contract. Realized and unrealized gains and losses on the underlying investments are amortized over the duration of the underlying investments through adjustments to the future contract interest crediting rate.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">These wrap contracts provide withdrawals and transfers at contract value but are funded through the market value liquidation of the underlying investments, which also impacts the interest crediting rate.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">Certain events may limit the ability of the Plan to transact at NAV with the issuer of stable value fund. Such events include: (1) termination of the Plan, (2) material adverse amendment to the provisions of the Plan, the Plan&#146;s loss of qualified status, or material breaches of responsibilities which are not cured, (3) the employer elects to withdraw from a wrapper contract in order to switch to a different investment provider, (4) in terms of a successor plan, does not meet the contract issuer&#146;s underwriting criteria for issuance of a clone wrapper contract. The Plan Administrator does not believe that the occurrence of any such event, which would limit the Plan&#146;s ability to transact at NAV, is probable. The change in third party administrators, as discussed in Note 11, will not have an impact on this investment, as the contract will remain with the current investment manager.</FONT></P>
<P style="text-align: left;">
&nbsp;</P>
<P style="text-align: left;">
&nbsp;</P>
<P style="text-align: left;">
&nbsp;</P>
<P style="text-align: left;">
&nbsp;</P>
<P style="text-align: center;">
<FONT size=2 face="Times New Roman">10</FONT></P>
</DIV>

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<font face="Times New Roman">




<A name="page_12"></A><BR>

<a name="_bclPageBorder12"></a></font><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">U.S. Borax Inc. 401(k) Savings &amp; Retirement Contribution Plan for Represented Employees </FONT></B></P>
<P style="text-align: left; margin-bottom:0">
<B><FONT size=2 face="Times New Roman">Notes to Financial Statements </FONT></B></P><hr>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Note 4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Plan Interest in the Rio Tinto America Inc. Savings Plan Trust</FONT></B></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">The Plan&#146;s investments are included in the investments of the Master Trust. Each participating retirement plan has a divided interest in the Master Trust (based on the investment direction by plan participants in the various investment options offered through the Master Trust). The value of the Plan&#146;s interest in the Master Trust is based on the beginning of year value of the Plan&#146;s interest in the Master Trust plus actual contributions and allocated investment income (loss) less actual distributions, and allocated administrative expenses. Investment income (loss), investment management fees and other direct expenses relating to the Master Trust are allocated to the individual plans based on the average daily balances. The Plan&#146;s interest in the Master Trust was 6.1 percent and 5.9 percent at December 31, 2015 and 2014, respectively. The Master Trust also includes the investment assets of the following retirement plans:</FONT></P>
<UL>
<LI>
<FONT size=2 face="Times New Roman">RTAI Plan,</FONT></LI>
<LI>
<FONT size=2 face="Times New Roman">KUC Plan, and</FONT></LI>
<LI>
<FONT size=2 face="Times New Roman">Rio Tinto Alcan Plan.</FONT></LI>
</UL>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">The following is a summary of the Master Trust assets, the Plan&#146;s divided interest in the assets of the Master Trust, and the Plan&#146;s divided interest percentage ownership of the Master Trust assets at December 31, 2015 and 2014:</FONT></P>
<DIV align="left">
<TABLE border=0 style="width:100%; border-bottom-width:0px" cellspacing=0>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=center style="border-bottom:1px solid
 #000000;" colspan="5">
<FONT size=2 face="Times New Roman">December 31, 2015&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=center>
<FONT size=2 face="Times New Roman">Plan&#146;s Percent&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=center colspan="2">
<FONT size=2 face="Times New Roman">Master Trust&nbsp;</FONT></TD>
	<TD align=center colspan="2">
<FONT size=2 face="Times New Roman">Plan&#146;s Interest&nbsp;</FONT></TD>
	<TD align=right>
<p align="center">
<FONT size=2 face="Times New Roman">Interest in&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=center style="border-bottom:1px solid
 #000000;" colspan="2">
<FONT size=2 face="Times New Roman">Assets&nbsp;</FONT></TD>
	<TD align=center style="border-bottom:1px solid
 #000000;" colspan="2">
<FONT size=2 face="Times New Roman">in Master Trust&nbsp;</FONT></TD>
	<TD align=center style="border-bottom:1px solid
 #000000;">
<FONT size=2 face="Times New Roman">Master Trust&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:0.059143pt">
<FONT size=2 face="Times New Roman">Investments at fair value:&nbsp;</FONT></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:11.268097pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Mutual funds&nbsp;</FONT></TD>
	<TD align=left style="TEXT-INDENT:6.235992pt" bgcolor="#E8FFFF">
<p style="text-indent: 0">
<FONT size=2 face="Times New Roman">&#36;&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">379,642,576&nbsp;</FONT></TD>
	<TD align=left style="TEXT-INDENT:8.155334pt" bgcolor="#E8FFFF">
<p style="text-indent: 0">
<FONT size=2 face="Times New Roman">&#36;&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">20,174,293&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">5.3&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:11.268097pt">
<FONT size=2 face="Times New Roman">Stable value fund: collective investment trust&nbsp;</FONT></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">152,154,360&nbsp;</FONT></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">16,480,239&nbsp;</FONT></TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">10.8&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:11.268097pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Collective trust funds&nbsp;</FONT></TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">140,743,623&nbsp;</FONT></TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">4,060,161&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">2.9&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:11.047012pt">
<FONT size=2 face="Times New Roman">Rio Tinto plc common stock ADRs&nbsp;</FONT></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">19,922,030&nbsp;</FONT></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">1,675,936&nbsp;</FONT></TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">8.4&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:11.268097pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Government Short-Term Investment Fund&nbsp;</FONT></TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">4,627,489&nbsp;</FONT></TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">501,215&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">10.8&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:11.268631pt">
<FONT size=2 face="Times New Roman">Interest-bearing cash&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;">
<FONT size=2 face="Times New Roman">684,263&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;">
<FONT size=2 face="Times New Roman">19,777&nbsp;</FONT></TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">2.9&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:0.059143pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Net assets available for benefits&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:3px double #000000;" style="TEXT-INDENT:3.295746pt" bgcolor="#E8FFFF">
<p style="text-indent: 0">
<FONT size=2 face="Times New Roman">&#36;&nbsp;</FONT></TD>
	<TD align=right style="border-bottom:3px double #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">697,774,341&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:3px double #000000;" style="TEXT-INDENT:5.215057pt" bgcolor="#E8FFFF">
<p style="text-indent: 0">
<FONT size=2 face="Times New Roman">&#36;&nbsp;</FONT></TD>
	<TD align=right style="border-bottom:3px double #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">42,911,621&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">6.1&nbsp;</FONT></TD>
</TR>
<TR>
	<TD colspan=6>
&nbsp;</TD>
</TR>
<TR>
	<TD colspan=6>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=center style="border-bottom:1px solid
 #000000;" colspan="5">
<FONT size=2 face="Times New Roman">December 31, 2014&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=center>
<FONT size=2 face="Times New Roman">Plan&#146;s Percent&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=center colspan="2">
<FONT size=2 face="Times New Roman">Master Trust&nbsp;</FONT></TD>
	<TD align=center colspan="2">
<FONT size=2 face="Times New Roman">Plan&#146;s Interest&nbsp;</FONT></TD>
	<TD align=center>
<FONT size=2 face="Times New Roman">Interest in&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=center style="border-bottom:1px solid
 #000000;" colspan="2">
<FONT size=2 face="Times New Roman">Assets&nbsp;</FONT></TD>
	<TD align=center style="border-bottom:1px solid
 #000000;" colspan="2">
<FONT size=2 face="Times New Roman">in Master Trust&nbsp;</FONT></TD>
	<TD align=center style="border-bottom:1px solid
 #000000;">
<FONT size=2 face="Times New Roman">Master Trust&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="Times New Roman">Investments at fair value:&nbsp;</FONT></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:11.052429pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Mutual funds&nbsp;</FONT></TD>
	<TD align=left style="TEXT-INDENT:2.876648pt" bgcolor="#E8FFFF">
<p style="text-indent: 0">
<FONT size=2 face="Times New Roman">&#36;&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">407,199,400&nbsp;</FONT></TD>
	<TD align=left style="TEXT-INDENT:3.596252pt" bgcolor="#E8FFFF">
<p style="text-indent: 0">
<FONT size=2 face="Times New Roman">&#36;&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">21,596,958&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">5.3&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:11.053833pt">
<FONT size=2 face="Times New Roman">Stable value fund: collective investment trust&nbsp;</FONT></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">153,393,798&nbsp;</FONT></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">15,682,395&nbsp;</FONT></TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">10.2&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:11.054703pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Collective trust funds&nbsp;</FONT></TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">146,917,611&nbsp;</FONT></TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">3,556,701&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">2.4&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:11.055038pt">
<FONT size=2 face="Times New Roman">Rio Tinto plc common stock ADRs&nbsp;</FONT></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">32,161,377&nbsp;</FONT></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">2,566,532&nbsp;</FONT></TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">8.0&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:11.059265pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Government Short-Term Investment Fund&nbsp;</FONT></TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">4,627,490&nbsp;</FONT></TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">474,199&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">10.2&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:11.056427pt">
<FONT size=2 face="Times New Roman">Interest-bearing cash&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;">
<FONT size=2 face="Times New Roman">802,698&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;">
<FONT size=2 face="Times New Roman">37,048&nbsp;</FONT></TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">4.6&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:0.003464pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Net assets available for benefits&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:3px double #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&#36;&nbsp;</FONT></TD>
	<TD align=right style="border-bottom:3px double #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">745,102,374&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:3px double #000000;" style="TEXT-INDENT:0.719604pt" bgcolor="#E8FFFF">
<p style="text-indent: 0">
<FONT size=2 face="Times New Roman">&#36;&nbsp;</FONT></TD>
	<TD align=right style="border-bottom:3px double #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">43,913,833&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">5.9&nbsp;</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align: center;">
<FONT size=2 face="Times New Roman">11</FONT></P>
</DIV>

<HR noshade color=#BAFCF9 align="center" width="100%"><DIV STYLE="page-break-before: always">&nbsp;</div>




<font face="Times New Roman">




<A name="page_13"></A><BR>

<a name="_bclPageBorder13"></a></font><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">U.S. Borax Inc. 401(k) Savings &amp; Retirement Contribution Plan for Represented Employees </FONT></B></P>
<P style="text-align: left; margin-bottom:0">
<B><FONT size=2 face="Times New Roman">Notes to Financial Statements </FONT></B></P><hr>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Note 4</FONT></B><FONT size=2 face="Times New Roman">. </FONT><B>
<FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; Plan Interest in the Rio Tinto America Inc. Savings Plan Trust (Continued)</FONT></B></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">The following are changes in net assets for the Master Trust for the year ended December 31, 2015:</FONT></P>
<DIV align="left">
<TABLE border=0 style="width:80%; border-bottom-width:0px" cellspacing=0>
<TR>
     <TD width=11%></TD>
     <TD width="67%"></TD>
     <TD width="6%"></TD>
     <TD width=16%></TD></TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="TEXT-INDENT:5.100006pt">
<FONT size=2 face="Times New Roman">Investment results:</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="TEXT-INDENT:14.039978pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Net depreciation in fair value of investments</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&#36;</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">(28,201,818)</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="TEXT-INDENT:14.039978pt">
<FONT size=2 face="Times New Roman">Interest and dividends</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;">
&nbsp;</TD>
	<TD align=center style="border-bottom:1px solid
 #000000;">
<p align="right">
<FONT size=2 face="Times New Roman">19,069,199</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="TEXT-INDENT:29.052612pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Net investment results</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">(9,132,619)</FONT></TD>
</TR>
<TR>
	<TD colspan=4>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="TEXT-INDENT:5.100006pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Net transfers</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">(38,195,414)</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="TEXT-INDENT:17.045990pt">
<FONT size=2 face="Times New Roman">Decrease in net assets</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;">
<FONT size=2 face="Times New Roman">(47,328,033)</FONT></TD>
</TR>
<TR>
	<TD colspan=4 bgcolor="#E8FFFF">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="TEXT-INDENT:5.100006pt">
<FONT size=2 face="Times New Roman">Net assets:</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="TEXT-INDENT:14.039978pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Beginning of year</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">745,102,374</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="TEXT-INDENT:14.039978pt">
<FONT size=2 face="Times New Roman">End of year</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left style="border-bottom:3px double #000000;">
<FONT size=2 face="Times New Roman">&#36;</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=right style="border-bottom:3px double #000000;">
<FONT size=2 face="Times New Roman">697,774,341</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR>
	<TD colspan=4>
&nbsp;</TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">
<B><FONT size=2 face="Times New Roman">Note 5.</FONT></B><font face="Times New Roman">&nbsp;</font><B><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; Fair Value Measurements</FONT></B></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">Accounting guidance provides the framework for measuring fair value. The framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described as follows:</FONT></P>
<table border="0" width="100%">
	<tr>
		<td width="7%" valign="top">
<FONT size=2 face="Times New Roman">Level 1: </FONT></td>
		<td width="93%" valign="top">
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.</FONT></P>
		</td>
	</tr>
	<tr>
		<td width="7%" valign="top">
&nbsp;</td>
		<td width="93%" valign="top">
&nbsp;</td>
	</tr>
	<tr>
		<td width="7%" valign="top">
<FONT size=2 face="Times New Roman">Level 2: </FONT></td>
		<td width="93%" valign="top">
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">Inputs to the valuation methodology include quoted market prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in inactive markets; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from or corroborated by observable market data by correlation or other means. If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.</FONT></P>
		</td>
	</tr>
	<tr>
		<td width="7%" valign="top">
&nbsp;</td>
		<td width="93%" valign="top">
&nbsp;</td>
	</tr>
	<tr>
		<td width="7%" valign="top">
<FONT size=2 face="Times New Roman">Level 3:</FONT></td>
		<td width="93%" valign="top">
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">Inputs to the valuation methodology are unobservable and significant to the fair value measurement.</FONT></P>
		</td>
	</tr>
</table>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">The asset&#146;s or liability&#146;s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">Following is a description of the valuation methodologies used for assets measured at fair value. There have been no significant changes in the methodologies used at December 31, 2015 and 2014.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Mutual funds: </FONT></B>
<FONT size=2 face="Times New Roman">Mutual funds are valued at the daily closing price as reported by the fund. Mutual funds held by the Master Trust are open-end mutual funds that are registered with the SEC. These funds are required to publish their daily NAV and to transact at that price. The mutual funds held by the Master Trust are deemed to be actively traded.</FONT></P>
<P style="text-align: center;">
<FONT size=2 face="Times New Roman">12</FONT></P>
</DIV>

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<font face="Times New Roman">




<A name="page_14"></A><BR>

<a name="_bclPageBorder14"></a></font><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">U.S. Borax Inc. 401(k) Savings &amp; Retirement Contribution Plan for Represented Employees </FONT></B></P>
<P style="text-align: left; margin-bottom:0">
<B><FONT size=2 face="Times New Roman">Notes to Financial Statements </FONT></B></P><hr>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Note 5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair Value Measurements (Continued)</FONT></B></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Stable value fund: collective investment trust: </FONT></B>
<FONT size=2 face="Times New Roman">The stable value fund is valued at NAV per unit as a practical expedient, which is calculated based on the fair values of the underlying funds. The underlying funds include synthetic GICs and traditional GICs, for which contract value is used as the fair value, since contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Collective trust funds: </FONT></B>
<FONT size=2 face="Times New Roman">The collective trust funds are valued at the NAV per unit as a practical expedient, which is based on the fair values of the underlying funds using a market approach. Underlying equity investments for which market quotations are readily available are reported at the last reported sale price on their principal exchange, market or system on valuation date, or official close price of certain markets. If no sales are reported for that day, investments are valued at the last published sales price, the mean between the last reported bid and asked prices, or at fair value as determined in good faith by the trustee of the fund. Underlying short-term investments are stated at amortized costs, which approximates fair value. Underlying registered investment companies or collective investment funds are valued at their respective NAV. Underlying fixed income investments are valued based on the basis of valuations furnished by independent pricing services. In the event current market prices or quotations are not readily available or deemed unreliable by the fund trustee, the fair value of the underlying fund will be determined in good faith by the fund trustee using alternative fair valuation methods.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman"><b>Rio Tinto plc common stock ADRs: </b>Rio Tinto plc common stock ADRs are valued at the closing price reported on the active market on which individual securities are traded. The fund includes a cash component, which is valued at &#36;1 per unit.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Government short-term investment fund (&#147;STIF&#148;): </FONT></B>
<FONT size=2 face="Times New Roman">Consists of a State Street Global Advisors (&#147;SSgA&#148;) Government STIF which seeks to maximize current income, to the extent consistent with the preservation of capital and liquidity and the maintenance of a stable &#36;1.00 per share NAV, by investing in U.S. dollar-denominated money market securities.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Interest-bearing cash: </FONT></B>
<FONT size=2 face="Times New Roman">Interest-bearing cash is valued at cost plus accrued income, which approximates fair value measured by similar assets in active markets.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">The following tables set forth, by level within the fair value hierarchy, the Master Trust&#146;s fair value measurements at December 31, 2015 and 2014:</FONT></P>
<DIV align="left">
<TABLE border=0 style="width:100%; border-right-width:0px; border-top-width:0px; border-bottom-width:0px" cellspacing=0>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=right colspan=8 style="border-bottom:1px solid
 #000000;">
<p align="center">
<FONT size=2 face="Times New Roman">Assets at Fair Value as of December 31, 2015&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=center style="border-bottom:1px solid
 #000000;" colspan="2" width="11%">
<FONT size=2 face="Times New Roman">Level 1&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;" colspan="2" width="11%">
<p align="center">
<FONT size=2 face="Times New Roman">Level 2&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;" colspan="2" width="11%">
<p align="center">
<FONT size=2 face="Times New Roman">Level 3&nbsp;</FONT></TD>
	<TD align=center style="border-bottom:1px solid
 #000000;" colspan="2" width="11%">
<FONT size=2 face="Times New Roman">Total&nbsp;</FONT></TD>
</TR>
<TR>
	<TD colspan=9>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Mutual funds&nbsp;</FONT></TD>
	<TD align=left bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">$</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&nbsp;379,642,576&nbsp;</FONT></TD>
	<TD align=left bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&#36;&nbsp;</FONT></TD>
	<TD align=right style="TEXT-INDENT:31.344391pt" bgcolor="#E8FFFF">
<p style="text-indent: 0">
<FONT size=2 face="Times New Roman">-&nbsp;</FONT></TD>
	<TD align=left bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&#36;&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">-&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<p align="left">
<FONT size=2 face="Times New Roman">$</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&nbsp;379,642,576&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="Times New Roman">Rio Tinto plc common stock ADRs (Note 6)&nbsp;</FONT></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">19,922,030&nbsp;</FONT></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right style="TEXT-INDENT:31.350952pt">
<p style="text-indent: 0">
<FONT size=2 face="Times New Roman">-&nbsp;</FONT></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">-&nbsp;</FONT></TD>
	<TD align=right>
&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">19,922,030&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Government Short-Term Investment Fund&nbsp;</FONT></TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">-&nbsp;</FONT></TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right style="TEXT-INDENT:1.431885pt" bgcolor="#E8FFFF">
<p style="text-indent: 0">
<FONT size=2 face="Times New Roman">4,627,489&nbsp;</FONT></TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">-&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">4,627,489&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="Times New Roman">Interest-bearing cash&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;">
<FONT size=2 face="Times New Roman">684,263&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;" style="TEXT-INDENT:31.358246pt">
<p style="text-indent: 0">
<FONT size=2 face="Times New Roman">-&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;">
<FONT size=2 face="Times New Roman">-&nbsp;</FONT></TD>
	<TD align=right style="border-bottom:1px solid
 #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;">
<FONT size=2 face="Times New Roman">684,263&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Total assets in the fair value hierarchy&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">$</FONT></TD>
	<TD align=right style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&nbsp;400,248,869&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&#36;&nbsp;</FONT></TD>
	<TD align=right style="border-bottom:1px solid
 #000000;" style="TEXT-INDENT:1.404266pt" bgcolor="#E8FFFF">
<p style="text-indent: 0">
<FONT size=2 face="Times New Roman">4,627,489&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&#36;&nbsp;</FONT></TD>
	<TD align=right style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">-&nbsp;</FONT></TD>
	<TD align=right style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">404,876,358&nbsp;</FONT></TD>
</TR>
<TR>
	<TD colspan=9>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="Times New Roman">Investments measured at net asset value (a):&nbsp;</FONT></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:6.465027pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Stable value fund: collective investment trust&nbsp;</FONT></TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">152,154,360&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:6.465027pt">
<FONT size=2 face="Times New Roman">Collective trust funds&nbsp;</FONT></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;">
<FONT size=2 face="Times New Roman">140,743,623&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Total investments measured at net asset value&nbsp;</FONT></TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">292,897,983&nbsp;</FONT></TD>
</TR>
<TR>
	<TD colspan=9>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#E8FFFF" style="border-right-style: none; border-right-width: medium">
<FONT size=2 face="Times New Roman">Investments at fair value&nbsp;</FONT></TD>
	<TD align=left bgcolor="#E8FFFF" style="border-style: none; border-width: medium">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF" style="border-style: none; border-width: medium">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF" style="border-style: none; border-width: medium">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF" style="border-style:none; border-width:medium; ">
&nbsp;</TD>
	<TD align=left style="border-style:none; border-width:medium; " bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left style="border-bottom:medium none #000000; border-left-style: none; border-left-width: medium; border-right-style: none; border-right-width: medium; border-top-style: none; border-top-width: medium; " bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right style="border-bottom:3px double #000000;; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium; border-left-style:none; border-left-width:medium" bgcolor="#E8FFFF">
<p align="left">
<FONT size=2 face="Times New Roman">$</FONT></TD>
	<TD align=right style="border-bottom:3px double #000000;; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&nbsp;697,774,341&nbsp;</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align: center;">
<FONT size=2 face="Times New Roman">13</FONT></P>
</DIV>

<HR noshade color=#BAFCF9 align="center" width="100%"><DIV STYLE="page-break-before: always">&nbsp;</div>




<font face="Times New Roman">




<A name="page_15"></A><BR>

<a name="_bclPageBorder15"></a></font><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">U.S. Borax Inc. 401(k) Savings &amp; Retirement Contribution Plan for Represented Employees</FONT></B></P>
<P style="text-align: left; margin-bottom:0">
<B><FONT size=2 face="Times New Roman">Notes to Financial Statements</FONT></B></P>
<hr>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Note 5</FONT></B><FONT size=2 face="Times New Roman">.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B>
<FONT size=2 face="Times New Roman">Fair Value Measurements (Continued)</FONT></B></P>
<DIV align="left">
<TABLE border=0 style="width:100%; border-right-width:0px; border-top-width:0px; border-bottom-width:0px" cellspacing=0>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=right colspan=8 style="border-bottom:1px solid
 #000000;">
<p align="center">
<FONT size=2 face="Times New Roman">Assets at Fair Value as of December 31, 2014&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=center style="border-bottom:1px solid
 #000000;" colspan="2" width="11%">
<FONT size=2 face="Times New Roman">Level 1&nbsp;</FONT></TD>
	<TD align=center style="border-bottom:1px solid
 #000000;" colspan="2" width="11%">
<FONT size=2 face="Times New Roman">Level 2&nbsp;</FONT></TD>
	<TD align=center style="border-bottom:1px solid
 #000000;" colspan="2" width="11%">
<FONT size=2 face="Times New Roman">Level 3&nbsp;</FONT></TD>
	<TD align=center style="border-bottom:1px solid
 #000000;" colspan="2" width="11%">
<FONT size=2 face="Times New Roman">Total&nbsp;</FONT></TD>
</TR>
<TR>
	<TD colspan=9>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Mutual funds&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<p align="left">
<FONT size=2 face="Times New Roman">$</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&nbsp;407,199,400&nbsp;</FONT></TD>
	<TD align=left bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&#36;&nbsp;</FONT></TD>
	<TD align=right style="TEXT-INDENT:31.344391pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">-&nbsp;</FONT></TD>
	<TD align=left bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&#36;&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">-&nbsp;</FONT></TD>
	<TD align=left bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">$</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&nbsp;407,199,400&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="Times New Roman">Rio Tinto plc common stock ADRs (Note 6)&nbsp;</FONT></TD>
	<TD align=right>
&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">32,161,377&nbsp;</FONT></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right style="TEXT-INDENT:31.350952pt">
<FONT size=2 face="Times New Roman">-&nbsp;</FONT></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">-&nbsp;</FONT></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">32,161,377&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Government Short-Term Investment Fund&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">-&nbsp;</FONT></TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right style="TEXT-INDENT:1.431885pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">4,627,490&nbsp;</FONT></TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">-&nbsp;</FONT></TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">4,627,490&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="Times New Roman">Interest-bearing cash&nbsp;</FONT></TD>
	<TD align=right style="border-bottom:1px solid
 #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;">
<FONT size=2 face="Times New Roman">802,698&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;" style="TEXT-INDENT:31.358246pt">
<FONT size=2 face="Times New Roman">-&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;">
<FONT size=2 face="Times New Roman">-&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;">
<FONT size=2 face="Times New Roman">802,698&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Total assets in the fair value hierarchy&nbsp;</FONT></TD>
	<TD align=right style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
<p align="left">
<FONT size=2 face="Times New Roman">$</FONT></TD>
	<TD align=right style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&nbsp;440,163,475&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&#36;&nbsp;</FONT></TD>
	<TD align=right style="border-bottom:1px solid
 #000000;" style="TEXT-INDENT:1.404266pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">4,627,490&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&#36;&nbsp;</FONT></TD>
	<TD align=right style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">-&nbsp;</FONT></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">444,790,965&nbsp;</FONT></TD>
</TR>
<TR>
	<TD colspan=9>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Investments measured at net asset value (a):&nbsp;</FONT></TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:6.465027pt">
<FONT size=2 face="Times New Roman">Stable value fund: collective investment trust&nbsp;</FONT></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">153,393,798&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:6.465027pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Collective trust funds&nbsp;</FONT></TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">146,917,611&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="Times New Roman">Total investments measured at net asset value&nbsp;</FONT></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid
 #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:1px solid
 #000000;">
<FONT size=2 face="Times New Roman">300,311,409&nbsp;</FONT></TD>
</TR>
<TR>
	<TD colspan=9 bgcolor="#E8FFFF">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="Times New Roman">Investments at fair value&nbsp;</FONT></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left style="border-right-style: none; border-right-width: medium">
&nbsp;</TD>
	<TD align=left style="border-style: none; border-width: medium">
&nbsp;</TD>
	<TD align=left style="border-left-style: none; border-left-width: medium; border-right-style: none; border-right-width: medium; border-top-style: none; border-top-width: medium; border-bottom: medium none #000000">
&nbsp;</TD>
	<TD align=left style="border-bottom:3px double #000000;; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium">
<FONT size=2 face="Times New Roman">$</FONT></TD>
	<TD align=right style="border-bottom:3px double #000000;; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium">
<FONT size=2 face="Times New Roman">&nbsp;745,102,374&nbsp;</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<TABLE border=0 cellspacing=0>
<TR>
	<TD nowrap valign=top width="2%">
<FONT size=2 face="Times New Roman">(a)</FONT><font face="Times New Roman">&nbsp; &nbsp; &nbsp;
</font> 	</TD>
	<TD width="98%">
<FONT size=2 face="Times New Roman">In accordance with Subtopic 820-10, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statements of net assets available for benefits.&#160;</FONT><font face="Times New Roman">
</font>	</TD>
</TR>
</TABLE>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">The availability of observable market data is monitored to assess the appropriate classification of financial instruments within the fair value hierarchy. Changes in economic conditions or model-based valuation techniques may require the transfer of financial instruments from one fair value level to another. In such instances, the transfer is reported at the beginning of the reporting period. The Master Trust evaluates the significance of transfers between levels based upon the nature of the financial instrument and size of the transfer relative to total net assets available for benefits. For the year ended December 31, 2015, there were no transfers between levels.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">The Master Trust follows guidance on how entities should estimate fair value of certain alternative investments. The fair value of investments within the scope of the guidance can be determined using NAV per share as a practical expedient, when fair value is not readily determinable; unless it is probable the investment will be sold at something other than NAV.</FONT></P>
<P style="text-align: center;">
<FONT size=2 face="Times New Roman">14</FONT></P>
</DIV>

<HR noshade color=#BAFCF9 align="center" width="100%"><DIV STYLE="page-break-before: always">&nbsp;</div>




<font face="Times New Roman">




<A name="page_16"></A><BR>

<a name="_bclPageBorder16"></a></font><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">U.S. Borax Inc. 401(k) Savings &amp; Retirement Contribution Plan for Represented Employees </FONT></B></P>
<P style="text-align: left; margin-bottom:0">
<B><FONT size=2 face="Times New Roman">Notes to Financial Statements </FONT></B></P>
<hr>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Note 5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair Value Measurements (Continued)</FONT></B></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">The following table includes categories of investments within the Master Trust where NAV is available as a practical expedient:</FONT></P>
<DIV align="left">
<TABLE border=0 style="width:100%" cellspacing=0>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=center colspan=4 style="border-bottom:1px solid
 #000000;">
<p align="center">
<FONT size=2 face="Times New Roman">Fair Value as of December 31&nbsp;</FONT></TD>
	<TD align=center>
<FONT size=2 face="Times New Roman">Redemption&nbsp;</FONT></TD>
	<TD align=center>
<FONT size=2 face="Times New Roman">Redemption&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=center style="border-bottom:1px solid
 #000000;" style="TEXT-INDENT:20.880341pt" colspan="2">
<p style="text-indent: 0">
<FONT size=2 face="Times New Roman">2015&nbsp;</FONT></TD>
	<TD align=center style="border-bottom:1px solid
 #000000;" style="TEXT-INDENT:20.883484pt" colspan="2">
<p style="text-indent: 0">
<FONT size=2 face="Times New Roman">2014&nbsp;</FONT></TD>
	<TD align=center style="border-bottom:1px solid
 #000000;">
<FONT size=2 face="Times New Roman">Frequency&nbsp;</FONT></TD>
	<TD align=center style="border-bottom:1px solid
 #000000;">
<FONT size=2 face="Times New Roman">Notice Period&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="Times New Roman">Stable value fund:&nbsp;</FONT></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=center>
<FONT size=2 face="Times New Roman">12 months for full&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:8.339752pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Invesco stable value trust&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<p align="left">
<FONT size=2 face="Times New Roman">$</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&nbsp;152,154,360&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<p align="left">
<FONT size=2 face="Times New Roman">$</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&nbsp;153,393,798&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<p align="center">
<FONT size=2 face="Times New Roman">Daily&nbsp;</FONT></TD>
	<TD align=center bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">liquidation&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="Times New Roman">Collective trust funds:&nbsp;</FONT></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:8.339752pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Bond investments&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">29,535,725&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">31,740,467&nbsp;</FONT></TD>
	<TD align=center bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Daily*&nbsp;</FONT></TD>
	<TD align=center bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">None&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:8.339752pt">
<FONT size=2 face="Times New Roman">Commodities futures market&nbsp;</FONT></TD>
	<TD align=right>
&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">3,592,835&nbsp;</FONT></TD>
	<TD align=right>
&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">4,040,372&nbsp;</FONT></TD>
	<TD align=center>
<FONT size=2 face="Times New Roman">Daily*&nbsp;</FONT></TD>
	<TD align=center>
<FONT size=2 face="Times New Roman">None&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:8.339752pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Foreign&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">26,598,863&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">28,202,308&nbsp;</FONT></TD>
	<TD align=center bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Daily*&nbsp;</FONT></TD>
	<TD align=center bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">None&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:8.339752pt">
<FONT size=2 face="Times New Roman">Large cap&nbsp;</FONT></TD>
	<TD align=right>
&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">55,238,243&nbsp;</FONT></TD>
	<TD align=right>
&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">55,319,499&nbsp;</FONT></TD>
	<TD align=center>
<FONT size=2 face="Times New Roman">Daily*&nbsp;</FONT></TD>
	<TD align=center>
<FONT size=2 face="Times New Roman">None&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:8.339752pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Real estate&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">3,451,200&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">3,515,963&nbsp;</FONT></TD>
	<TD align=center bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Daily*&nbsp;</FONT></TD>
	<TD align=center bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">None&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:8.339752pt">
<FONT size=2 face="Times New Roman">Small-mid cap&nbsp;</FONT></TD>
	<TD align=right>
&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">17,044,610&nbsp;</FONT></TD>
	<TD align=right>
&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">18,543,729&nbsp;</FONT></TD>
	<TD align=center>
<FONT size=2 face="Times New Roman">Daily*&nbsp;</FONT></TD>
	<TD align=center>
<FONT size=2 face="Times New Roman">None&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:8.339752pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">U.S. fixed-income securities&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">3,393,516&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">3,600,921&nbsp;</FONT></TD>
	<TD align=center bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">Daily*&nbsp;</FONT></TD>
	<TD align=center bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">None&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:8.339752pt">
<FONT size=2 face="Times New Roman">U.S. money market securities (b)&nbsp;</FONT></TD>
	<TD align=right>
&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">1,888,631&nbsp;</FONT></TD>
	<TD align=right>
&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">1,954,352&nbsp;</FONT></TD>
	<TD align=center>
<FONT size=2 face="Times New Roman">Daily*&nbsp;</FONT></TD>
	<TD align=center>
<FONT size=2 face="Times New Roman">None&nbsp;</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">*The fund trustee, in its sole discretion, reserves the right to value any contributions or withdrawals as of the next succeeding valuation date or another date as the fund trustee deems appropriate.</FONT></P>
<TABLE border=0 cellspacing=0>
<TR>
	<TD nowrap valign=top width="2%">
<FONT size=2 face="Times New Roman">(b)</FONT><font face="Times New Roman">&nbsp; &nbsp; &nbsp;
</font> 	</TD>
	<TD width="98%">
<FONT size=2 face="Times New Roman">The fund seeks to maximize current income, to the extent consistent with the preservation of capital and liquidity and the maintenance of a stable &#36;1.00 per share NAV, by investing in U.S. dollar-denominated money market securities.&#160;</FONT><font face="Times New Roman">
</font>	</TD>
</TR>
</TABLE>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">There are no unfunded commitments related to the categories of investments where NAV is available as a practical expedient.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Note 6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parties-in-Interest Transactions</FONT></B></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">The Master Trust is managed by State Street. Therefore, certain transactions within the Master Trust qualify as party-in-interest transactions. The Master Trust also holds certain investments that are managed by SSgA, the investment management division of State Street. Fees paid by the Master Trust or Plan for investment management services to State Street or SSgA were included as a reduction of the return earned on each investment.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">The Master Trust invests in Rio Tinto plc common stock ADRs. The Master Trust held 678,951 and 692,780 shares of Rio Tinto plc common stock ADRs at December 31, 2015 and 2014, respectively, valued at &#36;29.12 and &#36;46.06, respectively. The cash component of this fund was approximately &#36;151,000, and &#36;252,000 at December 31, 2015 and 2014, respectively. During the year ended December 31, 2015, purchases and sales of shares by the Master Trust totaled approximately &#36;3,624,000 and &#36;2,059,000, respectively. During the year ended December 31, 2015, the Plan had transactions with Xerox Business Services, LLC, the Plan&#146;s record keeper, which are allowed by the Plan. As of December 31, 2015 and 2014, the Plan held notes receivable from participants totaling approximately &#36;1,122,000 and &#36;1,179,000, respectively. These transactions qualify as party-in-interest transactions, which are exempt from prohibited transaction rules.</FONT></P>
<P style="text-align: center;">
<FONT size=2 face="Times New Roman">15</FONT></P>
</DIV>

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<font face="Times New Roman">




<A name="page_17"></A><BR>

<a name="_bclPageBorder17"></a></font><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">U.S. Borax Inc. 401(k) Savings &amp; Retirement Contribution Plan for Represented Employees</FONT></B></P>
<P style="text-align: left; margin-bottom:0">
<B><FONT size=2 face="Times New Roman">Notes to Financial Statements</FONT></B></P>
<hr>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Note 7.&nbsp;&nbsp;&nbsp;&nbsp; Plan Termination</FONT></B></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">Although it has not expressed any intent 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 of ERISA. In the event of termination, all participants would become fully vested in their accounts.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Note 8.&nbsp;&nbsp;&nbsp;&nbsp; Tax Status</FONT></B></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">The Internal Revenue Service has determined and informed the Company by a letter dated November 30, 2015, that the Plan and related trust were designed in accordance with the applicable requirements of the IRC. The Plan Administrator and the Plan&#146;s legal counsel believe that the Plan is currently designed and being operated in compliance with the applicable requirements of the IRC and therefore believe that the Plan and the related trust are tax exempt.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">The Plan Administrator has evaluated the Plan&#146;s tax positions and concluded that the Plan had maintained its tax- exempt status and had taken no uncertain tax positions that require adjustment to the financial statements. Therefore, no provision or liability for income taxes has been included in the financial statements.
The Plan is subject to routine audits by taxing jurisdictions; however, there
are currently no audits for any tax years in progress.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Note 9</FONT></B><FONT size=2 face="Times New Roman">. </FONT><B>
<FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; Delinquent Participant Contributions</FONT></B></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">During the year ended December 31, 2013, the Company erroneously failed to remit certain participant contributions and participant loan repayments to the Plan on a timely basis. The Company is in the process of calculating and remitting lost earnings on the 2013 delinquent contributions of approximately &#36;744,000 and has begun the process of filing under the Voluntary Fiduciary Correction Program (&#147;VFCP&#148;). The Company also erroneously failed to remit certain participant contributions and participant loan repayments
totaling approximately $205,000 to the Plan on a timely basis for the years ended December 31, 2014 and 2015. The Company is in the process of calculating and remitting lost earnings on these delinquent contributions and has begun the process of filing under the VFCP. See the accompanying supplemental Schedule of Delinquent Participant Contributions.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Note 10.&nbsp;&nbsp;&nbsp; Reconciliation of Financial Statements to Form 5500</FONT></B></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">The following is a reconciliation of the net assets available for benefits as presented in the financial statements to the Form 5500 at December 31:</FONT></P>
<DIV align="left">
<TABLE border=0 style="width:100%; border-right-width:0px; border-bottom-width:0px" cellspacing=0>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=center style="border-bottom:1px solid
 #000000;" colspan="2" width="15%">
<FONT size=2 face="Times New Roman">2015&nbsp;</FONT></TD>
	<TD align=center style="border-bottom:1px solid
 #000000;" colspan="2" width="15%">
<FONT size=2 face="Times New Roman">2014&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="Times New Roman">Net assets available for benefits as presented in these financial&nbsp;</FONT></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:8.040222pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">statements&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<p align="left">
<FONT size=2 face="Times New Roman">$</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&nbsp;44,033,862&nbsp;</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<p align="left">
<FONT size=2 face="Times New Roman">$</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&nbsp;45,093,123&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="Times New Roman">Adjustment from fair value to contract value for fully benefit-&nbsp;</FONT></TD>
	<TD align=right>
&nbsp;</TD>
	<TD align=right>
&nbsp;</TD>
	<TD align=right>
&nbsp;</TD>
	<TD align=right>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:8.040222pt">
<FONT size=2 face="Times New Roman">responsive investment contracts&nbsp;</FONT></TD>
	<TD align=right style="TEXT-INDENT:46.197754pt">
&nbsp;</TD>
	<TD align=right style="TEXT-INDENT:46.197754pt">
<FONT size=2 face="Times New Roman">-&nbsp;</FONT></TD>
	<TD align=right style="TEXT-INDENT:46.197754pt">
&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="Times New Roman">280,403&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="Times New Roman">Net assets available for benefits as presented&nbsp;</FONT></TD>
	<TD align=right style="border-bottom:medium none #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:medium none #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:medium none #000000;">
&nbsp;</TD>
	<TD align=right style="border-bottom:medium none #000000;">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:10.681488pt; border-right-style:none; border-right-width:medium" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">in the Form 5500 (unaudited)&nbsp;</FONT></TD>
	<TD align=right style="border-bottom:3px double #000000;; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium" bgcolor="#E8FFFF">
<p align="left">
<FONT size=2 face="Times New Roman">$</FONT></TD>
	<TD align=right style="border-bottom:3px double #000000;; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&nbsp;44,033,862&nbsp;</FONT></TD>
	<TD align=right style="border-bottom:3px double #000000;; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium" bgcolor="#E8FFFF">
<p align="left">
<FONT size=2 face="Times New Roman">$</FONT></TD>
	<TD align=right style="border-bottom:3px double #000000;; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&nbsp;45,373,526&nbsp;</FONT></TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align: center;">
<FONT size=2 face="Times New Roman">16</FONT></P>
</DIV>

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<font face="Times New Roman">




<A name="page_18"></A><BR>

<a name="_bclPageBorder18"></a></font><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">U.S. Borax Inc. 401(k) Savings &amp; Retirement Contribution Plan for Represented Employees </FONT></B></P>
<P style="text-align: left; margin-bottom:0">
<B><FONT size=2 face="Times New Roman">Notes to Financial Statements </FONT></B></P><hr>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Note 10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reconciliation of Financial Statements to Form 5500 (Continued)</FONT></B></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">The following is a reconciliation of the net decrease in net assets available for benefits before transfers as presented in these financial statements to the Form 5500:</FONT></P>
<DIV align="left">
<TABLE border=0 style="width:100%; border-bottom-width:0px" cellspacing=0>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=center colspan="2">
<FONT size=2 face="Times New Roman">Year Ended</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=center colspan=2>
<FONT size=2 face="Times New Roman">December 31,</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=center style="border-bottom:1px solid
 #000000;" colspan="2">
<FONT size=2 face="Times New Roman">2015</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="TEXT-INDENT:5.040359pt">
<FONT size=2 face="Times New Roman">Net decrease in net assets available for benefits before transfers as presented</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="TEXT-INDENT:13.860580pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">in these financial statements</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&#36;</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">(1,019,666)</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="TEXT-INDENT:5.040359pt">
<FONT size=2 face="Times New Roman">Subtract adjustment from fair value to contract value for fully benefit-responsive</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="TEXT-INDENT:13.860580pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">investment contracts for 2014</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left bgcolor="#E8FFFF">
&nbsp;</TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">(280,403)</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="TEXT-INDENT:5.040359pt">
<FONT size=2 face="Times New Roman">Net decrease in net assets available for benefits before transfers as presented</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;">
&nbsp;</TD>
	<TD align=left style="border-bottom:1px solid
 #000000;">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=2 style="TEXT-INDENT:13.860580pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">in Form 5500 (unaudited)</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left style="border-bottom:3px double #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&#36;</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=right style="border-bottom:3px double #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">(1,300,069)</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR>
	<TD colspan=4>
&nbsp;</TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">
<B><FONT size=2 face="Times New Roman">Note 11</FONT></B><FONT size=2 face="Times New Roman">.</FONT><font face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</font>
<B><FONT size=2 face="Times New Roman">Subsequent Events</FONT></B><font face="Times New Roman">&nbsp;</font></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">The BGC and the Investment Committee have decided to transition the custodial and recordkeeping functions to a new third party administrator which is anticipated to occur in the first quarter of 2017. The Master Trust will be dissolved and the Plan will revert to stand alone
trust and plan accounting upon transition.</FONT></P>
<P style="text-align: center;">
<FONT size=2 face="Times New Roman">17</FONT></P>
</DIV>

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<font face="Times New Roman">




<A name="page_19"></A><BR>

<a name="_bclPageBorder19"></a></font><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">U.S. Borax Inc. 401(k) Savings &amp; Retirement Contribution Plan for Represented Employees</FONT></B></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">
<a name="Schedule_H,_Part_IV,_Line_4i&#151;
Schedule_of_Assets_(Held_at_End_of_Year)_December_31,_2015_">Schedule H, Part IV, Line 4i&#151;Schedule of Assets (Held at End of Year) December 31, 2015</a></FONT></B></P>
<hr>
<DIV align="left">
<TABLE border=0 style="width:100%" cellspacing=0>
<TR>
     <TD width=79%></TD>
     <TD width=7%></TD>
     <TD width=12%></TD></TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="Times New Roman">EIN: 98-0047580</FONT></B><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="Times New Roman">Plan Number: 007</FONT></B><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid
 #000000;" style="TEXT-INDENT:147.899902pt">
<p align="center" style="text-indent: 0">
<FONT size=2 face="Times New Roman">Description of Asset</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=center style="border-bottom:1px solid
 #000000;" colspan="2">
<FONT size=2 face="Times New Roman">Fair Value</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="Times New Roman">Notes from participants, due in various amounts through July 2034, with interest</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left style="TEXT-INDENT:8.760239pt" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">rates ranging from 4.25% to 5.25%*</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left style="border-bottom:3px double #000000;" bgcolor="#E8FFFF">
<FONT size=2 face="Times New Roman">&#36;</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left style="border-bottom:3px double #000000;" style="TEXT-INDENT:10.315613pt" bgcolor="#E8FFFF">
<p align="right">
<FONT size=2 face="Times New Roman">1,122,241</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="Times New Roman">*Party-in-interest transaction considered exempt by the Department of Labor.</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left style="border-top-style: none; border-top-width: medium">
&nbsp;</TD>
	<TD align=left style="border-top-style: none; border-top-width: medium">
&nbsp;</TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">&nbsp;</P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">See Report of Independent Registered Public Accounting Firm and Notes to Financial Statements.</FONT></P>
<P style="text-align: center;">
<FONT size=2 face="Times New Roman">18</FONT></P>
</DIV>

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<font face="Times New Roman">




<A name="page_20"></A><BR>

<a name="_bclPageBorder20"></a></font><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<P style="text-align: left;">
<B><FONT size=1 face="Times New Roman">U.S. Borax Inc. 401(k) Savings &amp; Retirement Contribution Plan for Represented Employees</FONT></B></P>
<P style="text-align: left;">
<B><FONT size=1 face="Times New Roman">
<a name="Schedule_H,_Part_IV,_Line_4a&#151;
Schedule_of_Delinquent_Participant_Contributions_December_31,_2015_">Schedule H, Part IV, Line 4a&#151;Schedule of Delinquent Participant Contributions
</a></FONT></B><br>
<B><FONT size=1 face="Times New Roman">
<a name="Schedule_H,_Part_IV,_Line_4a&#151;
Schedule_of_Delinquent_Participant_Contributions_December_31,_2015_">Year Ended December 31, 2015</a></FONT></B></P>
<DIV align="left">
<TABLE border=0 style="width:100%" cellspacing=0>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Times New Roman">EIN: 98-0047580</FONT></B><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan="2">
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="Times New Roman">Plan Number: 007</FONT></B><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan="2">
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR>
	<TD colspan=9>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center>
<FONT size=1 face="Times New Roman">Participant Contributions</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=center colspan=4>
<FONT size=1 face="Times New Roman">Total That Constitute Nonexempt</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center style="border-bottom:1px solid
 #000000;">
<FONT size=1 face="Times New Roman">Transferred Late to Plan</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;">
&nbsp;</TD>
	<TD align=center colspan=4 style="border-bottom:1px solid
 #000000;">
<FONT size=1 face="Times New Roman">Prohibited Transactions</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;">
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
</TR>
<TR>
	<TD colspan=9>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=center colspan="2">
<FONT size=1 face="Times New Roman">Contributions</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left colspan=2>
<p align="center">
<FONT size=1 face="Times New Roman">Total Fully Corrected</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=center>
&nbsp;</TD>
	<TD align=center colspan=2>
<FONT size=1 face="Times New Roman">Corrected Outside</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left colspan=2 style="TEXT-INDENT:0.659241pt">
<p align="center">
<FONT size=1 face="Times New Roman">Contributions</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=center colspan="2">
<FONT size=1 face="Times New Roman">Under VFCP and</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=left>
&nbsp;</TD>
	<TD align=right colspan="2">
<p align="center">
<FONT size=1 face="Times New Roman">the Voluntary</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=center colspan=2>
<FONT size=1 face="Times New Roman">Pending</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=center colspan="2">
<FONT size=1 face="Times New Roman">Prohibited</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=center>
<p align="left">
<FONT size=1 face="Times New Roman">Check Here if Late Participant Loan</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left colspan=2>
<FONT size=1 face="Times New Roman">Contributions Not </FONT></TD>
	<TD align=left colspan=2>
<p align="center">
<FONT size=1 face="Times New Roman">Fiduciary Correction</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left colspan=2 style="TEXT-INDENT:2.040039pt">
<p align="center">
<FONT size=1 face="Times New Roman">Correction in</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=center colspan="2">
<FONT size=1 face="Times New Roman">Transaction</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left style="border-bottom:1px solid
 #000000;" style="TEXT-INDENT:0.000885pt">
<FONT size=1 face="Times New Roman">Repayments Are Included: &#9745;</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left colspan=2 style="border-bottom:1px solid
 #000000;" style="TEXT-INDENT:0.660110pt">
<FONT size=1 face="Times New Roman">Fully Corrected**</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=center style="border-bottom:1px solid
 #000000;" colspan="2">
<FONT size=1 face="Times New Roman">Program (VFCP)</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left style="border-bottom:1px solid
 #000000;" colspan="2">
<p align="center">
<FONT size=1 face="Times New Roman">VFCP</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left colspan=2 style="border-bottom:1px solid
 #000000;" style="TEXT-INDENT:2.700134pt">
<p align="center">
<FONT size=1 face="Times New Roman">Exemption 2002-51</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR>
	<TD colspan=9>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center bgcolor="#E8FFFF">
<FONT size=1 face="Times New Roman">2013</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left style="TEXT-INDENT:1.314789pt" bgcolor="#E8FFFF">
<FONT size=1 face="Times New Roman">&#36;</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=1 face="Times New Roman">744,439* </FONT>
<font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left bgcolor="#E8FFFF">
<FONT size=1 face="Times New Roman">$</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=1 face="Times New Roman">-</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left bgcolor="#E8FFFF">
<FONT size=1 face="Times New Roman">&#36;</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=1 face="Times New Roman">-</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left style="TEXT-INDENT:1.379883pt" bgcolor="#E8FFFF">
<FONT size=1 face="Times New Roman">&#36;</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=1 face="Times New Roman">-</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=center>
<FONT size=1 face="Times New Roman">2014</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left style="TEXT-INDENT:1.314789pt">
<FONT size=1 face="Times New Roman">&#36;</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=right>
<FONT size=1 face="Times New Roman">852* </FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left>
<FONT size=1 face="Times New Roman">$</FONT></TD>
	<TD align=right>
<FONT size=1 face="Times New Roman">-</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left>
<FONT size=1 face="Times New Roman">&#36;</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=right>
<FONT size=1 face="Times New Roman">-</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left style="TEXT-INDENT:1.379883pt">
<FONT size=1 face="Times New Roman">&#36;</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=right>
<FONT size=1 face="Times New Roman">-</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=center bgcolor="#E8FFFF">
<FONT size=1 face="Times New Roman">2015</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left style="TEXT-INDENT:1.314789pt" bgcolor="#E8FFFF">
<FONT size=1 face="Times New Roman">&#36;</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=1 face="Times New Roman">204,321* </FONT>
<font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left bgcolor="#E8FFFF">
<FONT size=1 face="Times New Roman">$</FONT></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=1 face="Times New Roman">-</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left bgcolor="#E8FFFF">
<FONT size=1 face="Times New Roman">&#36;</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=1 face="Times New Roman">-</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=left style="TEXT-INDENT:1.379883pt" bgcolor="#E8FFFF">
<FONT size=1 face="Times New Roman">&#36;</FONT><font face="Times New Roman">&nbsp;</font></TD>
	<TD align=right bgcolor="#E8FFFF">
<FONT size=1 face="Times New Roman">-</FONT><font face="Times New Roman">&nbsp;</font></TD>
</TR>
<TR>
	<TD colspan=9>
&nbsp;</TD>
</TR>
</TABLE>
</DIV>
<P style="MARGIN:0px">
<FONT size=1 face="Times New Roman">*Party-in-interest transaction</FONT><font face="Times New Roman">&nbsp;</font></P>
<P style="text-align: left;">
<FONT size=1 face="Times New Roman">**The Company is in the process of calculating and remitting lost earnings on these delinquent contributions and has begun the process of filing under the VFCP.</FONT></P>
<P style="text-align: left;">
<FONT size=1 face="Times New Roman">See Report of Independent Registered Public Accounting Firm and Notes to Financial Statements.</FONT></P>
<P style="text-align: center;">
<FONT size=2 face="Times New Roman">19</FONT></P>
<P style="text-align: center;">
&nbsp;</P>
<P style="text-align: center;">
&nbsp;</P>
<P style="text-align: center;">
&nbsp;</P>
<P style="text-align: center;">
&nbsp;</P>
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<DOCUMENT>
<TYPE>EX-23
<SEQUENCE>2
<FILENAME>ex23-1bor.htm
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   <TITLE>boraxconsent.htm - Prepared by EDGARX.com</TITLE>
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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;text-align:center;">&nbsp;</p>
<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;text-align:center;">&nbsp;</p>
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<u>
<font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">Consent of
Independent Registered Public Accounting Firm</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-align:justify;text-indent:-1.0in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">U.S. Borax Inc. 401(k)
Savings &amp; Retirement Contribution Plan for Represented Employees</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">South Jordan,
Utah</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">We hereby consent to the incorporation</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;"> by reference in the
Registration Statement on Form
S-8 (File No. </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">333-198655</font><font color=black face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">) </font><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">of </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">Rio
Tinto plc</font><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> of our report
dated June 17, 2016, relating to the financial statements and supplemental
schedules of the </font><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">U.S. Borax Inc. 401(k) Savings &amp; Retirement
Contribution Plan for Represented Employees</font><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> which appear in this Form 11-K for the year ended December
31, 2015.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">/s/ Anton Collins
Mitchell LLP</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">Denver, Colorado </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">June 17, 2016</font></p>
<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;">&nbsp;</p>
<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;">&nbsp;</p>
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