FOOTE MINERAL TO MERGE INTO RIO TINTO

  Foote Mineral Co said it signed a
  letter of intent to merge into Rio Tinto-Zinc Corp PLC for
  cash.
      Foote, 83 pct owned by Newmont Mining Corp, said Newmont
  has informally indicated it would vote in favor of the Rio
  Tinto proposal.
      Foote said terms of the agreement, including price for the
  proposed cash transaction, have not been released because they
  are subject to a continuing due diligence investigation.
      The company said a definitive merger agreement is expected
  to be negotiated within six weeks and shareholders are expected
  to vote on the deal at a meeting expected to be held in June or
  July.
  

