Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 77

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 77
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 The MSA builds on ERA’s existing rehabilitation work and allows us to directly share our technical expertise in designing, scoping and executing closure projects, including stakeholder and delivery partner relationships. In November 2024, ERA concluded its entitlement offer and shortfall bookbuild, which raised A$766.5 million (before costs) to fund planned rehabilitation activities of the Ranger Project Area until approximately the third quarter of 2027. As a result of Rio Tinto taking up its pro rata entitlements in the entitlement offer and the level of participation by other ERA shareholders, we hold approximately 98.43% of ERA’s shares. As previously stated, we intend to move forward with compulsory acquisition of all remaining ERA shares we do not currently own. Since commencing management of the Ranger Rehabilitation Project in July 2024, we have progressed work in Pit 3, preparing the area for capping using amphirollers to dry the area and starting the geotextile laying. We remain committed to the successful rehabilitation of the Ranger Project Area to a standard that will establish an environment similar to the adjacent Kakadu National Park, a World Heritage site. We continue to work with all key stakeholders, including the Mirarr People to complete this important rehabilitation project. Legacy assets We manage over 90 legacy assets in 9 countries and 35 tailings storage facilities across our portfolio. For more information on tailings management, see page 39 . In 2024, we progressed our study program to look for opportunities to further optimise the long-term management of our legacy portfolio. Our approach We proactively manage closure across our business and make decisions based on the full picture. This starts with strong governance and a common approach across our assets globally. In 2023, we made it easier for operating assets to fund progressive closure work to reduce our impact. In 2024 we saw an increase in progressive closure spend of 40%. This important work helps to reduce our impact and reduces closure costs long term. We develop asset closure strategies to identify potential future land uses and focus on opportunities to reduce closure costs and risks over the asset life cycle. We completed 4 additional asset closure strategies in 2024, and now have these in place for 62% of our active operations. All of our operating sites have closure plans, and we are developing closure plans for assets that have an indefinite life, such as some port facilities. We review these plans regularly to align with stakeholder expectations and to incorporate lessons learned from other closure projects. At operations with joint