Rio Tinto Plc · LSE:RIO
Rio Tinto — Shareholder Meeting (May 2011)
28 slides from Rio Tinto's shareholder meeting presentation, May 5, 2011
Slide 1: 2011 annual general meeting
2011 annual general meeting Perth 5 May 2011
Slide 2: Jan du Plessis, Chairman
Jan du Plessis Chairman Kennecott Utah Copper, US
Slide 3: Directors not standing for re-election
Directors not standing for re-election 1 Yves Fortier 2 Sir Rod Eddington 3
Slide 4: Highlights of 2010
Highlights of 2010 • Record underlying earnings of US$14 billion • Record cash flows of US$23.5 billion • Raised dividend by 20% vs previous commitment • US$5 billion capital management programme • Net debt reduced to US$4.3 billion Ore loading at Dampier Port, Australia 4
Slide 5: Our strategy
Our strategy • Invest in and operate large, long term, cost competitive mines and businesses • Driven not by choice of commodity but by the quality of each opportunity • Focus on organic growth and targeted acquisitions • US$13 billion capex planned for 2011 5
Slide 6: Commitment to sustainability
Commitment to sustainability • Licence to operate • Long term economic benefits • Environmental and social considerations 6
Slide 7: Outlook
Outlook • Business resilience • Volatile financial markets with persistent global imbalances • Unprecedented sector growth • Long term growth fundamentals are strong Shenzhen, China 7
Slide 8: In conclusion
In conclusion • Outstanding year with excellent results • Prudent balance sheet management • Strong foundations for future growth Oyu Tolgoi construction site, Mongolia 8
Slide 9: Tom Albanese, Chief Executive
Tom Albanese Chief Executive
Slide 10: Growth is back on the agenda
Growth is back on the agenda • More than US$12 billion of capital approvals since 2010 – Highest return, lowest risk iron ore project in Australia – Modernisation and expansion of aluminium smelters in Canada • New agreement to manage the Oyu Tolgoi project • Majority interest in Riversdale Iron ore
Slide 11: Product group results: Iron ore
Product group results 2010 underlying earnings Iron ore – record performance US$10.1bn The Pilbara, Australia 11
Slide 12: Product group results: Aluminium
Product group results 2010 underlying earnings Aluminium – return to profitability US$0.7bn ISAL smelter, Iceland 12
Slide 13: Product group results: Copper
Product group results 2010 underlying earnings Copper – advancing growth projects US$2.5bn Kennecott Utah Copper, US 13
Slide 14: Product group results: Diamonds and Minerals
Product group results 2010 underlying earnings Diamonds and Minerals – recovery in demand US$0.3bn Diavik Diamond Mine, Canada 14
Slide 15: Product group results: Energy
Product group results 2010 underlying earnings Energy – boosted by higher volumes US$1.2bn Blair Athol, Australia 15
Slide 16: Focus on China relationship
Focus on China relationship • Joint venture with Chalco for development of the Simandou iron ore project in Guinea • Memorandum of understanding with Chinalco to establish an exploration joint venture in China • Agreement to extend our Channar Mining joint venture in the Pilbara Channar JV, the Pilb
Slide 17: Consistent strategy
Consistent strategy • Large, long term, cost competitive tier 1 resources • Improved living standards will bring more demand but new challenges • Sustainable development is a competitive advantage • Striving to build a more diverse workforce QIT Madagascar Minerals, Madagascar 17
Slide 18: Our Mine of the Future
Our Mine of the Future™ Advanced robotics and remote operations drive the Mine of the Future™ Autonomous Smart Autonomous Autonomous drilling blasting haulage trains 18
Slide 19: In conclusion
In conclusion • Reinvigorated, running strongly and benefiting from favourable markets • Stronger balance sheet to invest in value adding growth and withstand volatility • Well positioned to be sector leading global mining and metals company Cape Lambert port, Australia 19
Slide 20: 2011 annual general meeting
2011 annual general meeting Perth 5 May 2011
Slide 21: Resolution 1: Receipt of the 2010 Annual report
Resolution 1 Receipt of the 2010 Annual report 21
Slide 22: Resolution 2: Approval of the Remuneration report
Resolution 2 Approval of the Remuneration report 22
Slide 23: Resolutions 3-14: Re-election of directors
Resolutions 3-14 Re-election of directors 23
Slide 24: Resolution 15: Election of Stephen Mayne
Resolution 15 Election of Stephen Mayne 24
Slide 25: Resolution 16: Re-appointment of auditors
Resolution 16 Re-appointment and remuneration of auditors of Rio Tinto plc 25
Slide 26: Resolution 17: Amendments to Performance Share Plan
Resolution 17 Amendments to the Rules of the Performance Share Plan 26
Slide 27: Resolution 18: Renewal of share buyback authorities
Resolution 18 Renewal of off-market and on-market share buyback authorities 27
Slide 28: 2011 annual general meeting
2011 annual general meeting 5 May 2011