Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 287

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 287
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 economic extraction. An Ore Reserve is the economically mineable part of a measured or indicated Mineral Resource. The estimation of Ore Reserves and Mineral Resources requires judgement to interpret available geological data and subsequently to select an appropriate mining method and then to establish an extraction schedule. At least annually, the Qualified Persons of the Group (according to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code)), estimate Ore Reserves and Mineral Resources using assumptions such as: – available geological data – expected future commodity prices and demand – exchange rates – production costs – transport costs – close-down and restoration costs – recovery rates – discount rates – renewal of mining licences With regard to our future commodity price assumptions, to calculate our Ore Reserves and Mineral Resources for our filing on the Australian Securities Exchange and London Stock Exchange, we use prices generated by our Strategy and Economics team. For this Form 20-F, we use consensus price or historical pricing and comply with subpart 1300 of Regulation S-K (SK-1300), instead of with the JORC Code. We use judgement as to when to include Mineral Resources in accounting estimates, for example, the use of Mineral Resources in our depreciation policy as described in note 13 and in the determination of the date of closure as described in note 14. There are many uncertainties in the estimation process and assumptions that are valid at the time of estimation may change significantly when new information becomes available. New geological or economic data or unforeseen operational issues may change estimates of Ore Reserves and Mineral Resources. This could cause material adjustments in our financial statements to: – depreciation and amortisation rates – carrying values of intangible assets and property, plant and equipment – deferred stripping costs – provisions for close-down and restoration costs – recovery of deferred tax assets. h. Impact of climate change on the Group The impacts of climate change and the execution of our climate change strategy on our financial statements are discussed below. Strategy and approach to climate change In 2021, we put the low-carbon transition at the heart of our business strategy, setting a clear pathway to deliver long-term value as well as ambitious targets to decarbonise our business. Our target to reduce our net Scope 1 and 2 emissions by 15% by 2025 , 50% by 2030 and to reach net zero emissions by 2050 , all relative to our 2018 equity baseline, remains unchanged. We have now reduced gross operational emissions by 14% below our 2018