Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 318

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 318
---
 investment in Winning Consortium Simandou (WCS) for co-development of the rail and port infrastructure became unconditional. On 17 July 2024, we acquired a 34% equity interest in Winning Consortium Simandou Railway Pte. Ltd and Winning Consortium Simandou Ports Pte. Ltd (together referred to as “WCS Rail and Port entities”), through our partially owned subsidiary SimFer Jersey for US$ 313million . The Rio Tinto share of this consideration was US$ 166million and US$ 147million was funded by Chalco Iron Ore Holdings Ltd (CIOH). Further shareholder loan funding to the WCS Rail and Port entities was made on the same day directly by Rio Tinto and CIOH, in proportion to their respective 53% and 47% owners hip interest of SimFer Jersey, to these equity accounted units. 2023 Nuevo Cobre On 8 November 2023 , we acquired Meridian Minera Limitada’s (MML) 57.74% share in Agua de la Falda (ADLF) for US$ 45million . Subsequently, we entered into an agreement with Corporación Nacional del Cobre de Chile (Codelco), a state-owned enterprise, to explore and potentially acquire assets in Chile’s prospective Atacama region - the project is known as Nuevo Cobre. The majority ownership of 57.74% equity confered voting rights that allow Rio Tinto to control the relevant activities of Nuevo Cobre. Therefore, we accounted for Nuevo Cobre as an investment in a partially owned subsidiary. There was no goodwill recognised on acquisition as the transaction was not accounted for as a business combination. The difference between the net assets acquired and the purchase consideration was recognised within Intangible assets as Exploration and evaluation assets. The transaction gave rise to the recognition of a non-controlling interest of US$ 33million , representing Codelco’s 42.26% equity stake in Nuevo Cobre.

| Annual Report on Form 20-F 2024 | 176 | riotinto.com |

Financial statements | Notes to the consolidated financial statements 5 Acquisitions and disposals continued Acquisitions (continued) Matalco On 30 November 2023 , Rio Tinto and Giampaolo Group completed a transaction to form the Matalco joint venture. We acquired a 50% equity interest in Matalco Canada Inc. which owns one Canadian aluminium recycling facility and a 50% equity interest in Matalco