Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 81

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 81
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 andenergy policy aligned with netzero ambitions |     | Embedding just transitionprinciples in ourdecarbonisation strategy |     | Decarbonisation in short- andlong-term incentivesBoard engagement on climate |

Enhancing our physical resilience to a changing climate Supporting the viability of our assets, our people and communities

| Annual Report on Form 20-F 2024 | 43 | riotinto.com |

Strategic report | Our approach to ESG | Climate Action Plan

Grow production of materials essential for the energy transition Our portfolio Copper, lithium, aluminium and high-quality iron ore are fundamental to renewable energy infrastructure, electric vehicles, and energy storage solutions. This global shift to a low-carbon economy is driving unprecedented demand for our commodities. Our ambition is to grow total production by ~3% per year on a copper equivalent basis 1 .

| Highlights across our portfolio                                                                                                                                                                                                                                                                                          |     |                                                                                                                                                                                                                                                                                                                                                                                                                  |
| Iron ore–High-grade iron ore from Iron Ore Company of Canada (IOC) andSimandou in Guinea is essential for the production of low-carbon steel.–Investment in the development of our Pilbara operations and thetechnology needed to produce low-carbon steel.                                                              |     | Aluminium–Acquisition of a 50% stake in Matalco in 2023 supports the growingdemand for low-carbon and recycled products.–A US$1.1 billion investment in expanding the AP Technology™ AP60aluminium smelter in Quebec.–Investment in ELYSISTMtechnology development and trials.                                                                                                                                   |
| Minerals–The Rincon lithium project in Argentina achieved first production.–Acquisition of the Burra™ Scandium Project in Australia.–Our recent agreement to acquire Arcadium Lithium plc will, subject toacquisition completion, enable us to provide many of the key materials thatgo into electric vehicle batteries. |     | Copper–Having increased our equity in 2022, the expansion of the Oyu Tolgoiunderground mine in Mongolia is a cornerstone of our copper strategy.–Expanding underground mining at Kennecott, targeting an additional250,000 tonnes of copper production over the next decade2.–Joint venture with First Quantum Minerals on the La Granja project in Peru,one of the world’s largest undeveloped copper deposits. |

1. Ambition for compound annual growth rate (CAGR) for copper equivalent production from 2024 to 2033, including inorganic lithium growth. 2. The production target of around 250,000 tonnes of additional