Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 50

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 50
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LYSIS TM carbon-free smelting technology Our ELYSIS joint venture with Alcoa is progressing the development of a breakthrough inert anode technology that eliminates all direct greenhouse gas (GHG) emissions from the aluminium smelting process. In 2024, we announced a $285 million investment, including $106 million from the Government of Québec, to build a demonstration plant equipped with 10 ELYSIS pots at our Arvida smelter. These pots, operating at 100kA, replicate the technology that has successfully produced commercial- purity aluminium at the ELYSIS Industrial Research and Development Center. The demonstration plant will have the capacity to produce up to 2,500 tonnes of aluminium per year, with first production targeted by 2027. This project is part of our phased approach to support the development of the technology. It will allow us to conduct further tests and to build expertise in installing and operating the ELYSIS™ technology towards future industrial-scale implementation.

| For more informationsee riotinto.com/elysis |

| Annual Report on Form 20-F 2024 | 28 | riotinto.com |

Strategic report

Copper

| Copper is an essential material for electrification and the globalenergy transition. By the end of the decade, we aim to deliver1 million tonnes of copper per year from our global portfolio ofassets and projects spanning 4 continents. We are focused onmaximising value from our existing assets, delivering profitablegrowth by unlocking projects, and investing in quality partnershipsacross the copper value chain. |     |                                                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |     | In 2025, we will look to prioritise buildingcare, capability and trust to furtherimprove ongoing risk managementefforts and first line assuranceimplementation. Assurance plans are inprogress for Oyu Tolgoi and Kennecott,while Resolution and Winu will also moveto implement first line assurance plansfor key critical risks.Market insightsCopper prices climbed to a record high inlate May following a series of high-profilesupply disruptions and strong Chineseimports. Financial flows into copperamplified this rally, with copper demandseen as a major beneficiary of both theenergy transition and data centreinvestment for AI. Prices subsequentlyretreated as supply outperformedexpectations, US rate cuts continued to bedelayed, and exchange inventory rose to a4-year high.The refined copper market was in a smallsurplus across 2024. Supply rosemodestly