Rio Tinto(RIO)

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Rio Tinto(RIO) - 2023 Q4 - Annual Report
2024-02-20 16:00
Financial Performance - Consolidated sales revenue for 2023 was $54.0 billion, a decrease from $55.6 billion in 2022, reflecting a 2.9% decline[12] - Profit after tax attributable to owners of Rio Tinto was $10.1 billion, representing a profit margin of 24.3%, compared to $12.4 billion and 22.9% in 2022[12] - Underlying EBITDA for 2023 was $23.9 billion, down 9.1% from $26.3 billion in 2022, indicating a 28% EBITDA margin[12] - The company reported a total dividend per share of 435 cents, down from 492 cents in 2022, totaling $7.1 billion in dividends declared[13] - Profit after tax attributable to owners was $10.1 billion, compared to $12.4 billion in 2022, reflecting a decrease of approximately 18.55%[53] - The total dividend declared for 2023 was $7.1 billion, representing a payout ratio of 60%[56] - Corporate tax paid globally in 2023 was $4.6 billion, a decrease from $6.9 billion in 2022[119] - The company spent $20.8 billion with suppliers globally in 2023, down from $22.5 billion in 2022[125] - Total dividends declared to shareholders in 2023 amounted to $7.1 billion, down from $8.0 billion in 2022[123] Segment Performance - Iron ore segmental revenue increased to $32.2 billion from $30.9 billion in 2022, with underlying EBITDA rising to $20.0 billion[21] - Aluminium segmental revenue decreased to $12.3 billion from $14.1 billion in 2022, with underlying EBITDA dropping to $2.3 billion[21] - Copper segmental revenue remained stable at $6.7 billion, but EBITDA fell to $1.9 billion from $2.6 billion in 2022[25] Decarbonisation and Sustainability Initiatives - The company aims to decarbonise operations and support the transition to a low-carbon economy, focusing on sustainable practices and partnerships[23] - The company is targeting a 50% reduction in Scope 1 and 2 emissions by 2030 and aims for net zero by 2050[41] - The company has implemented a decarbonisation scorecard into its long-term incentive plan as part of its 2024 Remuneration Policy proposals[42] - The company is working with partners to decarbonise the steel value chain and has launched a hydrogen plant in Gladstone for lower-carbon alumina refining[43] - The company aims to reduce Scope 1 and 2 emissions by 50% relative to 2018 levels by 2030, with a total capital spend on decarbonisation estimated at $5-6 billion from 2022 to 2030[153] - In 2023, the company spent $425 million on decarbonisation, an increase from $299 million in 2022[164] - The company is developing BioIronTM technology, which has the potential to reduce CO2 emissions by more than 95% during steelmaking[96] Operational Developments - The company achieved a 5 million tonne production uplift in its Pilbara iron ore operations in 2023, with another 5 million tonnes expected in 2024[61] - The underground copper production at Oyu Tolgoi is on track to ramp up to 500,000 tonnes per annum from 2028 to 2036[61] - The company announced a $1.1 billion investment to expand its AP60 smelter, replacing the Arvida smelter[68] - The company plans to invest $6.2 billion in the Simandou high-grade iron ore project in Guinea, with production expected to ramp up to 60 million dry tonnes annually by 2025[172] - A pre-feasibility study for the Rhodes Ridge project in Western Australia has been approved with an investment of $77 million[172] - The company acquired a 50% equity stake in Matalco for $738 million, aiming to meet the growing demand for low-carbon products[172] - Production from the Oyu Tolgoi underground mine in Mongolia has commenced, positioning it as a significant copper producer[174] - A joint venture with First Quantum Minerals has been formed to develop the La Granja project in Peru, one of the largest undeveloped copper deposits[174] - The company is progressing a lithium carbonate starter plant at the Rincon lithium project, with production expected by the end of 2024[174] Social Responsibility and Community Engagement - The company spent A$725 million with Indigenous businesses in Australia in 2023, an increase from A$565 million in 2022[118] - The company’s voluntary social investment in 2023 was $84 million, up from $62.6 million in 2022[118] - The company anticipates supporting around 1,600 jobs through the construction of the Western Range mine, which started in 2023[128] Health and Safety - In 2023, the company achieved a 25% improvement in All-Injury Frequency Rate (AIFR) at Safe Production System (SPS) sites in the second half compared to the first half[105] - The all-injury frequency rate (AIFR) improved to 0.37 in 2023, down from 0.40 in 2022[178] - The company reported a year-on-year production uplift of 5 million tonnes at Pilbara iron ore sites, attributed to the implementation of SPS[105] Employee Engagement - The company’s employee satisfaction score (eSAT) increased to 74 in October 2023, up from 73 in 2022[114]
Rio Tinto(RIO) - 2023 Q2 - Earnings Call Transcript
2023-07-26 14:32
Rio Tinto Group (NYSE:RIO) Q2 2023 Earnings Conference Call July 26, 2023 4:30 AM ET Company Participants Menno Sanderse - Head, IR Jakob Stausholm - CEO & Executive Director Peter Cunningham - CFO & Executive Director Conference Call Participants Liam Fitzpatrick - Deutsche Bank Tyler Broda - RBC Capital Markets Paul Young - Goldman Sachs Rahul Anand - Morgan Stanley Richard Hatch - Berenberg Alain Gabriel - Morgan Stanley Lyndon Fagan - JPMorgan Hayden Bairstow - Macquarie Robert Stein - CLSA Patrick Mann ...
Rio Tinto(RIO) - 2023 Q2 - Quarterly Report
2023-07-25 16:00
Exhibit 99.1 Rio Tinto Group Unaudited Condensed Consolidated Interim Financial Report for the six months ended 30 June 2023 TABLE OF CONTENTS | About Rio | Tinto | | | | | | 1 | | --- | --- | --- | --- | --- | --- | --- | --- | | Forward-looking | | statements | | | | | 2 | | Interim | results 2023 | | | | | | 3 | | Progress | against our | strategy and | objectives | in | 2023 | | 4 | | Financial | performance | | | | | | 6 | | Shareholders | returns | policy | | | | | 12 | | Capital | projects | | | | | ...
Rio Tinto (RIO) Presents At BMO conference
2023-03-02 18:06
1 Rio Tinto This presentation has been prepared by Rio Tinto plc and Rio Tinto Limited (together with their subsidiaries, "Rio Tinto"). By accessing/attending this presentation you acknowledge that you have read and understood the following statements. The estimated average production of ~500ktpa copper and ~330kozpa gold for the years 2028-2036 referenced on slides 20, 22 and 33 are underpinned as to 13% by Proved Ore Reserves and 87% by Probable Ore Reserves. The estimated average production of ~340ktpa c ...
Rio Tinto(RIO) - 2022 Q4 - Earnings Call Transcript
2023-02-22 14:53
Rio Tinto Group (NYSE:RIO) Q4 2022 Earnings Conference Call February 22, 2023 3:30 AM ET Conference Call Participants Good morning, and good afternoon, everybody. Welcome to the presentation of Rio Tinto's 2022 financial results. Here in the room, can I please ask you to switch off your phone or at least turn it to silent? As usual, you'll hear today from Jakob and Peter, and this time hopefully from Bold as well, followed by a Q&A session. For those of you on the phone, on the web, you'll receive instructi ...
Rio Tinto(RIO) - 2022 Q2 - Earnings Call Transcript
2022-07-28 05:30
Rio Tinto Group (NYSE:RIO) Q2 2022 Results Conference Call July 27, 2022 6:30 PM ET Company Participants Menno Sanderse - Head, IR Jakob Stausholm - CEO & Executive Director Peter Cunningham - CFO & Executive Director Conference Call Participants Liam Fitzpatrick - Deutsche Bank Richard Hatch - Berenberg Paul Young - Goldman Sachs Alain Gabriel - Morgan Stanley Danielle Chigumira - Crédit Suisse Jatinder Goel - BNP Paribas Exane Hayden Bairstow - Macquarie Robert Stein - CLSA Lyndon Fagan - JPMorgan Myles A ...
Rio Tinto Group (RIO) CEO Jakob Stausholm Presents at Bank of America Virtual Global Metals, Mining and Steel Conference (Transcript)
2022-05-17 17:11
Summary of Rio Tinto Group Conference Call Company Overview - **Company**: Rio Tinto Group (NYSE: RIO) - **Event**: Bank of America Virtual Global Metals, Mining and Steel Conference - **Date**: May 17, 2022 - **Participants**: Jakob Stausholm (CEO), Jason Fairclough (Bank of America), James Redfern (Bank of America) [1][2] Key Industry Insights - **Current Economic Climate**: The world is experiencing significant uncertainty, with discussions around inflation and recession risks due to geopolitical crises like the Ukraine conflict [3][5] - **Long-term Outlook**: Despite short-term unpredictability, there is confidence in the long-term demand for materials essential for energy transition, particularly as climate change becomes a pressing issue [6][7] Core Company Strategies and Objectives - **Decarbonization Commitment**: Rio Tinto is focused on decarbonizing its operations while growing its business, emphasizing the need for materials like lithium and copper for the energy transition [6][7][11] - **Cultural Reset**: The company is undergoing a cultural transformation to enhance relationships with communities and stakeholders, particularly traditional landowners [8][9] - **Four Key Objectives**: 1. Become the best operator 2. Achieve impeccable ESG credentials 3. Excel in development 4. Strengthen social license [10][16] Financial Performance - **Record Results**: In the previous year, Rio Tinto reported $21 billion in after-tax profits and a return on capital employed of 44% [5] Operational Developments - **Safety Achievements**: The company has maintained a fatality-free record for three years, highlighting its commitment to safety [10][24] - **Investment Plans**: Rio Tinto plans to invest approximately $7.5 billion in value-accretive projects from 2022 to 2030 to support its decarbonization goals [11] - **New Projects**: - Underground mining at Oyu Tolgoi is progressing, with a focus on rebuilding relationships in Mongolia [12][21] - Acquisition of the Rincon lithium project in Argentina and development of the Simandou iron ore project in Guinea are underway [12][38] Innovations and Technology - **ELYSIS Joint Venture**: The partnership with Alcoa aims to produce CO2-free aluminum, marking a significant technological advancement in the industry [11][34] - **Scandium and Tellurium Production**: Rio Tinto has opened a scandium plant in Canada and a tellurium plant in Utah, both utilizing waste streams for profitable extraction [13][15][14] Market Position and Future Prospects - **Aluminum Business**: The aluminum segment is expected to grow significantly due to its lower carbon footprint compared to competitors, despite past challenges [29] - **Lithium Demand**: The company anticipates a tenfold increase in lithium demand by 2030, positioning its Rincon and Jadar projects as critical assets [36][37] Conclusion - **Commitment to Growth**: Despite economic uncertainties, Rio Tinto is focused on executing its strategies, investing in essential commodities for the energy transition, and maintaining strong financial health [16]
Rio Tinto(RIO) - 2021 Q4 - Earnings Call Presentation
2022-02-23 15:13
| --- | --- | |-------------------------|-------| | | | | | | | 2021 Full Year results | | Operations Centre, Perth. Western Australia Cautionary and supporting statements This presentation has been prepared by Rio Tinto plc and Rio Tinto Limited (together with their subsidiaries, "Rio Tinto"). By accessing/attending this presentation you acknowledge that you have read and understood the following statement. Forward-looking statements This presentation includes "forward-looking statements" within the meanin ...
Rio Tinto(RIO) - 2021 Q4 - Earnings Call Transcript
2022-02-23 14:49
Rio Tinto PLC (NYSE:RIO) Q4 2021 Earnings Conference Call February 22, 2022 3:30 AM ET Company Participants Menno Sanderse - Head, IR Jakob Stausholm - CEO & Executive Director Peter Cunningham - CFO & Executive Director Conference Call Participants Paul Young - Goldman Sachs Group Jason Fairclough - Bank of America Merrill Lynch Hayden Bairstow - Macquarie Research Alain Gabriel - Morgan Stanley Lyndon Fagan - JPMorgan Chase & Co. Liam Fitzpatrick - Deutsche Bank Kaan Peker - RBC Capital Markets Robert Bra ...
Rio Tinto(RIO) - 2021 Q2 - Earnings Call Presentation
2021-07-30 17:47
| --- | --- | --- | |---------------------------------------------------------------------------------|-------|-------| | | | | | | | | | 2021 | | | | Half Year Results | | | | 28 July 2021 | | | | Karratha's Red Earth Arts Precinct, the Pilbara. Rio Tinto is a funding partner | | | Cautionary and supporting statements This presentation has been prepared by Rio Tinto plc and Rio Tinto Limited (together with their subsidiaries, "Rio Tinto"). By accessing/attending this presentation you acknowledge that you h ...