Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 33

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 33
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 incidents at Rio Tinto Iron and Titanium (RTIT) and the forest fires at IOC in 2024, this movement was offset by unrealised derivative gains recognised in 2024 (unrealised loss in 2023). On a pre-tax basis, restructuring, project and one-off central costs increased modestly as we continue to drive productivity by investing in group-wide projects. Other central costs of $0.8 billion (pre-tax) decreased by 18% compared to 2023, reflecting lower costs across a number of our functions together with higher central recoveries. On an underlying earnings basis, net interest was a credit of $0.4 billion (2023: credit of $0.3 billion ) with the variance between the two years being additional costs associated with the refinancing of Oyu Tolgoi in 2023. Sustained investment in greenfield exploration We have a strong portfolio of greenfield exploration projects in early exploration and studies stages, with activity in 17 countries across eight commodities. This is reflected in our pre-tax central spend of $0.2 billion . The bulk of this expenditure was focused on copper in Angola, Australia, Chile, Colombia, Kazakhstan, Papua New Guinea, Peru, the US and Zambia, nickel in Australia, Brazil, Canada and Finland, lithium in Australia, Brazil, Canada, Finland, Rwanda and the US, potash in Canada, diamonds in Angola, heavy mineral sands in South Africa and rutile- graphite in Malawi. The Rio Tinto operated Nuevo Cobre joint venture copper project in Chile continues to make good progress with permitting advancing alongside ongoing geological field programs.

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

Strategic report | Financial review

Strong cash flow generation as we invest for the future

| Year ended 31 December                                           | US$bn |  2024 
 US$bn |
|:-----------------------------------------------------------------|------:|------:|
| Net cash generated from operating activities                     |  15.6 |  15.2 |
| Purchases of property, plant and equipment and intangible assets |  -9.6 |  -7.1 |
| Lease principal payments                                         |  -0.5 |  -0.4 |
| Free cash flow¹                                                  |   5.6 |   7.7 |
| Dividends paid to equity shareholders                            |  -7.0 |  -6.5 |
| Net funding relating to Sim