Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 8

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 8
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 cannot do this alone, and I want to thank every one of our partners, customers, suppliers, investors, governments , communities and Indigenous Peoples who supported us in 2024. Above all, I want to thank our colleagues across the globe who are helping us to find better ways to provide the materials the world needs. Dominic Barton Chair 19 February 2025

| Follow Dominic on LinkedInlinkedin.com/in/dominicsbarton |

| Annual Report on Form 20-F 2024 | 5 | riotinto.com |

Strategic report From the Chief Executive

| When I look back at 2024, I am proud of the progress our team hasmade. The portfolio is evolving, production is growing, and we aredeveloping our technical skills and getting more disciplined at costmanagement as we focus on becoming Best Operator, learn frombuilding major projects, and advance our decarbonisation agenda. |

It is in Rio Tinto’s DNA to deliver quality assets of scale, at the lowest part of the cost curve, and to find better ways to provide the materials the world needs. In 2024 we tapped into this DNA to deliver profitable, stable growth and significant shareholder value. We are unfolding the historic strength of Rio Tinto, and this strength is clear in our financial results. However, we still have much to learn and improve, including on safety. We are heartbroken by the loss of our colleagues in 2024, and deeply committed to learning from every safety event. Evolving our portfolio We are continuing to align our portfolio with the commodities where demand growth is strongest, including lithium, a cornerstone mineral of the energy transition. At the Rincon project in Argentina, we went from greenfield to first lithium in only 32 months, and we are now expanding the plant. Along with the proposed acquisition of Arcadium, Rincon shows our commitment to building a world-class battery minerals portfolio. Building major projects We are becoming much more skilled as an organisation at executing projects at scale, on time and to budget. Simandou has progressed rapidly and is on track for first production at mine gate in 2025. At Oyu Tolgoi, we delivered first ore on the conveyor to surface in October, and production at the copper mine is expected to grow by more than 50% in 2025. In Canada, we are expanding the use of our low-carbon AP60 aluminium smelting technology. And these global teams of experienced project-building professionals are capturing and embedding their learnings. Towards Best Operator We