Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 335

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 335
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 from which we will get future

economic benefit.

(b) In 2024, additions primarily relate to project costs incurred at Simandou prior to Board approval of “notice to proceed” in February 2024 and at Rincon from July 2024 following approval by

the Argentine Congress of the new “RIGI” legislation, which underpinned the economic business case, until Board notice to proceed in December 2024.

(c) “Transfers and other movements” includes reclassification between categories. In 2024, following approvals by the Board of notice to proceed, exploration and evaluation assets relating to

Simandou ( US$ 732million ) and Rincon ( US$ 1,013million ), were transferred in full to Property, plant and equipment after being assessed for indicators of impairment.

(d) In 2023, we commenced capitalisation of exploration and evaluation costs at the Simandou project based on our confidence in the project progressing, this also resulted in an impairment

reversal, refer to note 4 for details.

(e) In 2023, newly consolidated operations relate to our purchase of Meridian Minera Limitada’s 57.74% share in Agua de la Falda. Refer to note 5 for details.

| Annual Report on Form 20-F 2024 | 185 | riotinto.com |

Financial statements | Notes to the consolidated financial statements

12 Intangible assets continued

Where amortisation is calculated on a straight line basis, the following useful lives have been determined:

|                      | Trademarks, patented andnon-patented technology |                                    | Contract-based intangible assets |                                      | Other intangible assets                                    |                         |
| Type of intangible   | Trademarks                                      | Patented andnon-patentedtechnology | Power contracts/water rights     | Other purchase andcustomer contracts | Internally generatedintangible assets andcomputer software | Other intangible assets |
| Amortisation profile | 14to20years                                     | 10to20years                        | 2to45years                       | 5to15years                           | 2to5years                                                  | 2to20years              |

13 Property, plant and equipment Recognition and measurement Property, plant and equipment is stated at cost, as defined in IAS 16 “Property, Plant and Equipment”, less accumulated depreciation and accumulated impairment losses. The cost of property, plant and equipment includes, where applicable, the estimated close-down and restoration costs associated with the asset. Property, plant and