Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 292

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 292
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 credits. They have been acquired for our own use and are accounted for as intangible assets (note 12). Accounting impacts from executing our strategy Global decarbonisation and the world’s energy transition continue to evolve, with the potential to materially impact our future financial results as our significant accounting judgements and key estimates are updated to reflect prevailing circumstances. In response, carrying values of assets and liabilities could be materially affected in future periods. Our current strategy and approach to decarbonise our operations and achieve our Scope 1 and 2 emissions targets are considered in our significant judgements and key estimates reflected in these financial results. Progressing our strategy to grow in materials needed for the low-carbon transition As part of our strategy to grow in materials essential for the energy transition, we approved “notice to proceed” for the Simandou high- grade iron ore project in Guinea and the Rincon lithium project in Argentina (note 12). We have also continued to invest in our copper portfolio. These projects follow our existing accounting policies on undeveloped properties and cost capitalisation. In 2024 we also announced a definitive agreement to acquire Arcadium Lithium plc (note 5). In 2023, we entered into an agreement with Giampaolo Group to form the Matalco joint venture, equity accounted, to meet a growing demand for recycled aluminium solutions, and invested in a copper project known as Nuevo Cobre, accounted for as an investment in a partially owned subsidiary (note 5). Decarbonising our portfolio As part of our decarbonisation programs, we invested US$ 283million ( 2023 : US$ 191million ) comprising capital projects, investments and carbon credits referred to above, capitalised on balance sheet. Our operating expenditure on Scope 1, 2 and 3 energy efficient initiatives and research and development (R&D) costs, inclusive of our equity share of R&D related to ELYSIS TM , was US$ 306million ( 2023 : US$ 234million ), recognised in the income statement (note 7). Our capital commitments at the end of 2024 relating to decarbonisation totalled US$ 114million ( 2023 : US$ 123million ) and included the Amrun renewable PPA classifed as a lease not yet commenced (note 37). We invested US$ 89million ( 2023 : US$ 36million ) in entities specialising in decarbonisation and related technology, accounted for as financial assets, such