Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 51

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 51
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, despite high-profile disruptionsearly in the year. Production growth fromthe Democratic Republic of the Congo wasnotably strong. Demand from data centreand energy-transition exposed segmentsremained positive despite some headwindsfrom substitution and thrifting astechnologies mature. Traditional segmentssuch as residential construction had amore challenging year. Despite this, copperprices averaged 415 US cents per poundin 2024, up 8% from 385 US cents perpound in 2023.In contrast, copper concentrate wasundersupplied in 2024, due to significantsmelter capacity additions in China andother Asian countries. Treatment andrefining charges fell sharply as a result andturned negative from April until August assmelters competed for material. |
| Snapshot of the year                                                                                                                                                                                                                                                                                                                                                                                                          |     |                                                             |     | SafetyIn 2024, we recorded 24 potential fatalincidents (PFIs), an increase from 22 in2023. Notable critical risks associated withthese events were: fall from height,uncontrolled releases of energy, and fallingobjects.Our all-injury frequency rate (AIFR)dropped slightly to0.33, a modestdecrease from0.35in 2023, with an AIFRof 0.27 for employees, and 0.37 for ourcontractor workforce. Ongoing monitoringto identify continuous improvementopportunities includes two-way learningwith our contractor partners.Our Critical Risk Management programand Safety Maturity Model underpin ourabsolute focus on preventing fatalities andserious events. During the year, keyachievements included simplification ofcritical control tools, as well as capabilitybuilding through our Leadership in theField program.At the asset level, we progressed site-specific hazard exposure reductionstrategies, which involved mitigating thepotential for exposure to silica dust at OyuTolgoi, and to sulphur dioxide at Kennecott.Our Winu project team also piloted apsychosocial risk management framework,reinforcing our commitment to a safe,healthy workplace. |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| AIFR0.33(2023:0.35)                                                                                                                                                                                                                                                                                                                                                                                                           |     | Employeenumbers19,000(2023:8,000)                           |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| Net cash generatedfrom operatingactivities$2.6bn(202