Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 45

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 45
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 $0.4 billion increased investment in Pilbara replacement projects, free cash flow of $8.6 billion was $2.8 billion lower than 2023. Review of operations Pilbara operations produced 328.0 million tonnes (100% basis), 1% lower than 2023. Shipments (100% basis) were also 1% lower. Production was affected by depletion, predominantly at Paraburdoo as we transition to Western Range and Yandicoogina, as well as higher than average rainfall. The Safe Production System target of 5 million tonnes for 2024 was achieved for the second consecutive year. Gudai-Darri demonstrated 50 million tonne per annum rates during the fourth quarter. Sustaining production at these rates is subject to the timing of approvals for planned mining areas and heritage clearances, and continuation of the debottlenecking program at the main plant. We grew our portside business in 2024, with total iron ore sales in China of 29.9 million tonnes (23.3 million tonnes in 2023). At the end of December, inventory levels were 7.1 million tonnes (6.4 million tonnes at the end of December 2023), including 4.9 million tonnes of Pilbara product. In 2024, approximately 89% of our portside sales were either screened or blended in Chinese ports (86% in 2023). In December 2024, we completed the sale of Dampier Salt Limited’s Lake MacLeod operation to Leichhardt Industrials Group for consideration of A$375 million.

| For more informationabout our capitalprojects and future growth options,see pages22-23. |

Valued partnerships positioning us for a more sustainable future Together with the Ngarluma Aboriginal Corporation, we’re progressing the development of an 80MW solar farm on Ngarluma Country, near Karratha, to supply renewable energy to our Pilbara operations. When complete, this project has the potential to reduce the amount of natural gas currently used for generation across our Pilbara operations by up to 11%, and could reduce Rio Tinto’s emissions by up to 120kt CO 2 e. We're also exploring a renewable energy project with the Yindjibarndi Energy Corporation (YEC). Currently in development by YEC, the project includes 75MW of solar on a greenfield site located west of Millstream Chichester National Park on Yindj