Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 340

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 340
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2,326million , with US$ 1,947million within “Property, plant and equipment” and a

further US$ 379million within “Investments in equity accounted units” ( 2023 : total of US$ 2,505million , with US$ 2,069million in “Property, plant and equipment” and a further US$ 436million

within “Investments in equity accounted units”). During the year, capitalisation of US$ 423million was offset by depreciation of US$ 580million , inclusive of amounts recorded within equity

accounted units ( 2023 : US$ 325million offset by depreciation of US$ 324million ). Depreciation of deferred stripping costs in respect of subsidiaries of US$ 411million ( 2023 : US$ 216million ;

2022 : US$ 246million ) is included within “Depreciation for the year”.

(b) Adjustment on currency translation represents the impact of exchange differences arising on the translation of the assets of entities with functional currencies other than the US dollar,

recognised directly in the currency translation reserve. The adjustment in 2024 arose primarily from the weakening of the Australian and Canadian dollars against the US dollar.

(c) Our average borrowing rate, excluding any project finance, used for capitalisation of interest is 7.20% ( 2023 : 7.50% ).

(d) Additions to “Property, plant and equipment” includes US$ 144million of spend on carbon abatement ( 2023 : US$ 94million ).

(e) Refer to note 4 for details.

(f) Primarily relates to the acquisition of the remaining 20.64% interest in New Zealand Aluminium Smelters (NZAS). The transaction has been accounted for as a business combination

achieved in stages, with our previous 79.36% interest in the NZAS joint operation deemed to have been disposed of. Refer to note 5 for details.

(g) Relates to our sale of the Lake MacLeod salt and gypsum operations. Refer to note 5 for details.

(h) “Transfers and other movements” includes reclassification between categories. In 2024, this included amounts reclassified from Intangible Assets relating to exploration and evaluation at

Simandou ( US$ 732million ) and Rincon ( US$ 1,013million ) following Board approval of “notice to proceed” in February 2024 and December 2024, respectively.

(i) Ex