Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 430

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 430
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 all or part of the Mineral Resources will eventually become Proven or Probable Mineral Reserves, there is no guarantee that this will occur as the result depends on further technical and economic studies and prevailing economic conditions in the future. A Mineral Reserve (or Ore Reserve as defined by JORC) is the economically mineable part of a Measured and/or Indicated Mineral Resource. It includes diluting materials and allowances for losses, which may occur when the material is mined or extracted. It is defined by studies at pre- feasibility or feasibility level as appropriate, with the application of modifying factors. Such studies demonstrate that, at the time of reporting, extraction can reasonably be justified. Rio Tinto’s Mineral Resources are reported as additional (exclusive) to the reported Mineral Reserves, with the exception of the Rincon lithium brines Mineral Resources. These are reported both inclusive and exclusive of Mineral Reserves. Reporting of Mineral Resources inclusive of Mineral Reserves is industry-standard for in situ lithium brines. Exclusive Mineral Resources for Rincon lithium brines are reported to satisfy SK-1300 reporting rulings. For Mineral Resources and Ore Reserves reporting, the JORC Code envisages the use of reasonable investment assumptions to test the economic viability of the Ore Reserves and the reasonable prospects of eventual economic extraction for the Mineral Resources. To achieve this, Rio Tinto uses internally generated projected long-term commodity prices. SK-1300 requires the use of a justifiable commodity price to test the economic viability of the Mineral Reserves and the reasonable prospects of economic extraction for the Mineral Resources, and prices used in calculating the estimates must be disclosed. As a result of the commercial sensitivity of Rio Tinto’s long-term commodity prices, we use commercially available consensus pricing or historical pricing for SEC reporting. For this reason and others, some Mineral Resources and Mineral Reserves reported to the SEC in this Form 20-F may differ from those Mineral Resources and Ore Reserves reported in the Annual Report . Mineral Resources and Mineral Reserves information in the following tables is based on information compiled by Qualified Persons (as defined by SK-1300), most of whom are full time employees of Rio Tinto or related companies. Each has had a minimum of 5 years’ relevant experience and is a member of a recognised professional body whose members are bound by a professional code of ethics. These bodies include the Australasian Institute of Mining and Metallurgy (the AusIMM, the Australian Institute of Geoscientists (AIG) and other recognised professional organisations (RPOs