Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 326

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 326
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million ) of short-term lease costs and US$ 46million ( 2023 : US$ 40million , 2022 : US$ 50million )

of variable lease costs recognised in the income statement in accordance with IFRS 16 “Leases”. Refer to note 21.

(f) In 2024 , US$ 923million ( 2023 : US$ 1,007million ; 2022 : US$ 485million ) of operating costs were capitalised, US$ 220million ( 2023 : US$ 247million ; 2022 : US$ 190million ) of costs were

shown separately within “Exploration and evaluation costs” in the consolidated income statement, and US$ 60million ( 2023 : US$ 77million ; 2022 : US$ 47million ) of costs were shown within

operating costs as “Research and development”.

(g) Other operating income includes sundry revenue incidental to the main revenue-generating activities of the operations.

(h) Operating decarbonisation spend of US$ 306million ( 2023 : US$ 234million ; 2022 : US$ 138million ) is allocated as US$ 253million ( 2023 : US$ 182million ; 2022 : US$ 88million ) within ”Net

operating costs (excluding items disclosed separately)”, with the remainder included in our share of profit or loss of equity accounted units.

| Annual Report on Form 20-F 2024 | 179 | riotinto.com |

Financial statements | Notes to the consolidated financial statements

8 Exploration and evaluation expenditure Exploration and evaluation expenditure includes costs that are directly attributable to: – researching and analysing existing exploration data – conducting geological studies, exploratory drilling and sampling – examining and testing extraction and treatment methods – compiling various studies (order of magnitude, pre-feasibility and feasibility) and/or – early works at mine sites prior to full notice to proceed. Exploration expenditure relates to the initial search for deposits with economic potential. Expenditure on exploration activity undertaken by the Group is not capitalised. Evaluation expenditure relates to a detailed assessment of deposits or other projects (including smelter and refinery projects) that have been identified as having economic potential. These costs are also expensed until the business case for the project is sufficiently advanced. For greenfield projects, expensing typically continues to a later phase of study compared with brownfield expansions . The charge for the year and the net amount