Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 407

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 407
---
 |      315 |      734 |
| Total                                                 |    1,107 |    1,371 |

(a) In 2024, transfers and other movements includes settlement of deferred consideration payable to Turquoise Hill Resources Ltd dissenting shareholders. Panguna mine, Bougainville During the year we utilised a provision of US$ 10million to fund a legacy impact assessment study in relation to a Panguna mine of Bougainville Copper Limited (BCL), our former subsidiary. The Panguna Mine Legacy Impact Assessment, an independent report published in December 2024, assessed the environmental impacts and directly connected social and human rights impacts caused by the Panguna mine since BCL ceased operations in 1989. In November 2024, Rio Tinto, BCL and the Autonomous Bougainville Government signed a Memorandum of Understanding (MoU) to discuss ways forward. The MoU parties plan to address the findings of the independent report and develop a remedy mechanism consistent with the UN Guiding Principles on Business and Human Rights. We have acknowledged a class action lawsuit filed in July 2024 in Papua New Guinea's National Court of Justice, naming both Rio Tinto and our former subsidiary, BCL, as defendants. We submitted our defence against the legal claim and will strongly defend our position in this case.

| Annual Report on Form 20-F 2024 | 226 | riotinto.com |

Financial statements | Notes to the consolidated fin ancial statements

37 Contingencies and commitments

Recognition and measurement

Contingent liabilities, indemnities and other performance guarantees represent the potential outflow of funds from the Group for the satisfaction

of obligations, including those under contractual arrangements (eg undertakings related to supplier agreements) not provided for on the balance

sheet, where the likelihood of the contingent liabilities, guarantees or indemnities being called is assessed as possible rather than probable or

remote.

| Other relevant judgements - contingenciesDisclosure is made for material contingent liabilities unless the possibility of any loss arising is considered remote based on our judgementand legal advice. These are quantified unless, in our judgement, the amount cannot be reliably estimated. The unit of account for claims isthe matter taken as a whole and therefore when a provision has been recorded for the best estimate of the cost to settle the obligation thereis no further contingent liability component. This means that when a provision is recognised for the best estimate of the expenditure requiredto settle the present obligation from a single past event, a further contingent liability is not reported