Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 400

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 400
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                  |               50 |
| Chile                                          |                                      |                  |
| Minera Escondida Ltda(a)                       | Copper mining and refining           |               30 |
| Oman                                           |                                      |                  |
| Sohar Aluminium Co. L.L.C.(b)                  | Aluminium smelting, power generation |               20 |
| United States                                  |                                      |                  |
| Matalco USA, LLC                               | Aluminium recycling                  |               50 |

(a) The year-end of Minera Escondida Ltda is 30 June. The amounts included in the consolidated financial statements of Rio Tinto are however, based on financial statements of Minera

Escondida Ltda that are coterminous with those of the Group.

(b) Although the Group holds a 20% interest in Sohar Aluminium Co. L.L.C, decisions about relevant activities that significantly affect the retur ns that are generated require agreement of all

parties to the arrangement. It is therefore determined that Rio Tinto has joint control.

| Other relevant judgements - accounting for Minera Escondida LtdaJudgement has been applied on the determination that Escondida is a joint venture. We have based this on the nature of significantcommercial decisions, including those in relation to capital expenditure, which require approval of both Rio Tinto and its partner BHP (holdersof a57.5%interest). In contrast, our partner has assessed Rio Tinto’s rights as protective and concluded that it controls Escondida throughits rights to direct relevant activities. Adoption of the equivalent judgement by the Group would result in reclassification of Escondida from ajoint venture to an associate, with no other financial reporting consequence since accounting under the equity method would remain in place. |

| Annual Report on Form 20-F 2024 | 221 | riotinto.com |

Financial statements | Notes to the consolidated fin ancial statements

32 Entities accounted under the equity method continued Summary information for joint ventures that are material to the Group

This summarised financial information is shown on a 100% basis. It represents the amounts shown in the joint ventures’ financial statements

prepared in accordance with IFRS under Group accounting policies, including fair value adjustments and amounts due to and from Rio Tinto.

|                                                         | MineraEscondidaLtda(a)2024US$m | MineraEscondidaLtda(a)2023US$m |
| Revenue                                                 |                         11,413 |                          9,187 |
|