Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 248

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 248
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0 targets. This performance was delivered through a robust portfolio of reductioninitiatives across the Group, including 13 major projects that will contribute substantial additional carbon reductions by 2030,including significant progress on repowering our Gladstone assets. Scope 3 emissions reduction initiatives were also progressedthrough the development of BioIron and electric smelting trials in Western Australia.–Led the public release of theEveryday Respect Progress Reviewshowing improvement and momentum.–Intensified focus on tailings storage management with implementation exceeding targets. In addition, achieved full control for ERAclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| Excel in DevelopmentGrow and diversify our portfolio(Outcome: Above target)                                                | –Executed a comprehensive review of corporate strategy and portfolio mix, with an extensive focus on our growth portfolio.–Led a significant shift in our portfolio by expanding our lithium business. Executed the agreement to acquire Arcadium Lithium plc,the Group’s largest acquisition for many years which will position Rio Tinto as a global leader in energy transition commodities.Lithium growth was further supported by the commitment to invest $2.5 billion to expand the Rincon project in Argentina followingthe achievement of first lithium production at the Rincon project in November 2024.–Delivered significant ramp-up of production at the Oyu Tolgoi mine in Mongolia and on course for further increase with thecommissioning of ventilation shafts 3 and 4.–Achieved major progress at the Simandou iron ore project in Guinea with all approvals obtained and conditions satisfied in 2024.The project is now on track to deliver first production at the mine gate in 2025.–Five replacement iron ore projects were advanced in the Pilbara, including Western Range, where first iron ore production isscheduled for the first half of 2025.–Refocused our partnerships including adding Sumitomo Metal Mining (buying 30% of Winu) and continued work at Nuevo Cobre,Chile with Codelco. In addition to buying out partners in other areas including purchasing Mitsubishi’s stake in BSL and Sumitomo’sstake in New Zealand Aluminium Smelters.–Strong achievements in project execution, with major projects such as Western Range, Oyu Tolgoi Underground and Simandoubeing delivered on schedule and within budget. |
| Social LicenceImprove our social licence tooperate by strengtheningengagement with keystakeholders(Outcome: Above target)  | –Personally led significant efforts in strengthening key relationships with governments (particularly in Canada, China, Chile,Argentina, Guinea