Rio Tinto Plc · LSE:RIO

Rio Tinto — Investor Day (November 2022)

102 slides from Rio Tinto's investor day presentation, Nov 30, 2022

Slide 1: Investor Seminar
Investor Seminar 30 November 2022
Slide 2: Cautionary and supporting statements
Cautionary and supporting statements This presentation has been prepared by Rio Tinto plc and Rio Tinto Limited (together with their subsidiaries, Form 20-F filed with the United States Securities and Exchange Commission (the “SEC”) or Form 6-Ks “Rio Tinto”). By accessing/attending this presentation
Slide 3: Cautionary and supporting statements (cont.)
Cautionary and supporting statements (cont.) Rio Tinto’s Iron Ore Mineral Resource and Ore Reserve estimates on Slide 47 were reported in Rio Tinto’s The Mineral Resource estimates for the Rhodes Ridge JV on Slide 54 were reported in Rio Tinto’s 2020 2021 Annual Report released to the ASX on 24 Febr
Slide 4: Agenda
Agenda GMT AEDT Topic Presenter 08:00 – 08:10 19:00 – 19:10 Culture share Angela Bigg, President, Diavik Diamond Mine 08:10 – 08.20 19:10 – 19:20 Progressing with purpose Jakob Stausholm, Chief Executive Isabelle Deschamps, Chief Legal Officer Panel 1: Our culture journey 08:20 – 08.35 19:20 – 19:35
Slide 5: Culture share
Culture share Angela Bigg, President, Diavik Diamond Mine Diavik Diamond Mine, Yellowknife 5
Slide 12: Progressing with purpose
Jakob Stausholm Progressing with purpose Rio Tinto Iron and Titanium Quebec Operations – Sorel Tracey 12
Slide 13: Partnering for shared success
Partnering for Progressing projects A new approach Deepening impact shared success to open up growth to cultural heritage of the Safe Production System 13
Slide 14: Best Operator, Impeccable ESG, Excel in development
Best Impeccable Excel in Operator ESG credentials development Social licence 14
Slide 15: Co-management of Country
Co-management of Country Modernising and rebuilding relationships Decarbonising our RTFT operations Relationship reset Yinhawangka Aboriginal Corporation New agreements with Yindjibarndi Aboriginal C$737 million partnership with the A new agreement with the Government co-designed management plan Cor
Slide 16: Finding better ways to provide the materials the world needs
Finding better ways to provide the materials the world needs 16
Slide 17: Panel session 1: Our culture journey
Panel session 1 Our culture journey Isabelle Deschamps, Bold Baatar, Kellie Parker Moderated by James Martin 17
Slide 19: Engagement scores improving
Engagement scores improving 1 73 72 71 71 Avg. prior 2 years Oct'21 Apr'22 Sept'22 1Percentage score for employee survey question regarding employee happiness in the workplace ©2022, Rio Tinto, All Rights Reserved 19
Slide 20: Market fundamentals
Vivek Tulpule Market fundamentals Tokyo, Japan 20
Slide 21: Global trends driving commodity demand
Global trends driving commodity demand 2 Key drivers of global economy1 Total commodity demand by 2035 Recycling share of total demand <2°C scenario Current to 2035 (<2°C scenario) Copper 160 equivalent basis 140 Aluminium 28% to 35% 2035 120 Growth 100 2021 1.8-3.2% pa 80 Copper 31% to 35% Carbon o
Slide 22: Energy trilemma to energy tripod
Energy trilemma to energy tripod A shift in the energy market paradigm is taking place… Low-cost renewables (needed to reach climate goals) will increase Energy energy security reducing scope for ecurity price disruption over time US Inflation Reduction Act provides ~$200 billion incentives and supp
Slide 23: Steel decarbonisation will affect the value of iron ores
Steel decarbonisation will affect the value of iron ores Iron ore products – Steelmaking CO2 emissions (BF/BOF)1 Industry decarbonisation efforts are focusing on direct reduction and liquid Higher value from liquid iron making in green transition 2.6 CO2 intensity (tCO2/t steel) iron solutions: Robe
Slide 24: Hydro-based aluminium even more attractive
Hydro-based aluminium even more attractive Chinese aluminium smelter cost sensitivities (Real US$/t 2021) Operating cost curve2 Over half of current Chinese RT Canada China smelting produces >14t CO2 per tonne aluminium vs. global average of 12t CO2 per 720 0% 50% 100% tonne of aluminium ~550 Decarb
Slide 25: Technology solutions
Nigel Steward Technology solutions Hydropower, the Saguenay 25
Slide 26: A strong global R&D footprint
A strong global R&D footprint… Kennecott Copper Aluminium Technology Laboratory Solutions (ATS France) US Borax RTIO Dampier labs ELYSIS Industrial Queensland Research Research and and Development Centre Development Center Aluminium Technology Bundoora Technical Solutions (ATS ARDC) Development Cent
Slide 28: Disciplined technology roadmap
Disciplined technology roadmap Health & Safety ESG Growth Carbon Productivity 9 projects 19 projects 32 projects 21 projects 54 projects Reducing frontline Reducing water Discovering new Green steel and low Maximise value from exposure to hazards consumption orebodies carbon products each ore body M
Slide 29: Transition and the global energy mix
Transition and the global energy mix Next 2030-2035 2035-2045 2045+ ~10 yrs Wind and solar Thermal and Breakthrough batteries Fusion mechanical energy and small modular storage for reactors renewables firming ©2022, Rio Tinto, All Rights Reserved 29
Slide 30: Firming and storage options
Firming and storage options Mechanical Electrochemical Thermal 0.200 0.200 0.200 Levelised cost of energy supply ($/kWh) 0.180 0.180 0.180 0.160 0.160 0.160 0.140 0.140 0.140 0.120 0.120 0.120 0.100 0.100 0.100 0.080 0.080 0.080 0.060 0.060 0.060 0.040 0.040 0.040 0.020 0.020 0.020 0.000 0.000 0.000
Slide 31: Hydrogen requires abundant low-cost green energy and lower capital costs
Hydrogen requires abundant low-cost green energy and lower capital costs 2500 Rio Tinto investment in Electric Hydrogen start-up to lower cost of hydrogen 2000 Potential hydrogen uses: $579 - Reductant for zero-carbon steel making Capital intensity ($/kW) 1500 67% - Ilmenite reduction at RTFT and RB
Slide 32: Fleet electrification will require time and technology breakthroughs
Fleet electrification will require time and technology breakthroughs Battery pathways Current state Drill Charge Dozer Loader Truck Diesel fuel Trial stage 2024 2022-2035 Biodiesel and biofuels Early deployment 2026 2028-2045 At scale Electrification Diesel Cable power Battery Electric ©2022, Rio Ti
Slide 33: Breakthrough technologies create new revenue streams
Breakthrough technologies create new revenue streams Green aluminium Processing waste Carbon mineralisation Rio Tinto Fer et Titane NutonTM technology pilot plant, Bundoora, Australia Tamarack, Minnesota Low carbon aluminium Critical minerals from waste Copper from waste Storing carbon as rock Apple
Slide 34: Green steel pathways: range of potential technology options
Green steel pathways: range of potential technology options available Estimated time to Commercial Scale CO2e (/tLS) Ore Suitability (using renewable power) Chemical 0 0.4 0.8 1.2 1.6 2.0 2.4 56 58 60 62 64 66 68 70 Current BF-BOF Optimisation 1-20 years Optimised Nat Gas DRI/HBI Shaft Today H2 DRI/
Slide 35: Our technology journey
Our technology journey - Creation of Chief Scientist’s - Growing capabilities in - Ramp-up of solar and wind - Providing firmed zero carbon Office – driving R&D battery materials deployment to meet an energy to support 24/7 integration and delivery increasing proportion of our operational needs - Bi
Slide 36: Decarbonisation – our pathway
Mark Davies and Alf Barrios Decarbonisation – our pathway Kennecott, US 36
Slide 37: Processing accounts for the majority of our carbon footprint
Processing accounts for the majority of our carbon footprint Our scope 1 and 2 emissions Electricity Anodes and Process Diesel Other2 (purchased and generated)1 reductants heat 2021 equity basis 8.8 31.1 Mt CO2e Mt CO2e 5.1 2.1 ~80% processing ~20% mining Mt CO2e 4.3 Mt CO2e Mt CO2e Aluminium Bauxit
Slide 38: Executing our ambitious plan towards net zero by 2050
Executing our ambitious plan towards net zero by 2050 Six large abatement programmes… …with Nature-based Solutions part of the plan Pacific Operations repower Renewables 8.4 Biodiesel Electrified fleets Renewables 4.2 Process heat Diesel 4.2 2021 CO2e emissions equity ELYSIS2 share1 4.6 Alumina proc
Slide 39: Pursuing an abatement pathway to reach our 2030 target
Pursuing an abatement pathway to reach our 2030 target Mt CO2e emissions by major abatement programmes – equity share 2018 CO2e emissions baseline 32.6 Emissions reductions to 2021 (1.5) 2021 CO2e emissions 31.1 0.0 Growth 1.0 5.8 Abatement programmes (13.4) 8.4 Other3 required (includes NbS) (2.4)
Slide 40: Path to 2030: select renewable and process heat projects underway
Path to 2030: select renewable and process heat projects already underway Renewables Process heat Self-delivered Market-based Pilbara RBM Boyne Smelter RTFT QLD 3% of group 5% of group 13% of group 3% of group alumina assets emissions1 emissions emissions emissions 14% of group emissions 1GW ↓1.0 <$
Slide 41: Increased role of Nature-based Solutions
Increased role of Nature-based Solutions to support our ambitious targets Two-pronged approach to secure high-quality credits Assessments show scale and favourable economics Development run-rate first four projects (preliminary) A Mt CO2e ~1.0 mt Developing Nature-based Solutions - High-quality proj
Slide 42: We are scaling up Nature-based Solutions close to our assets
We are scaling up Nature-based Solutions close to our assets Generating carbon credits and positive outcomes for people and nature For example – a 500 hectare community-driven project: - 640,000 seedlings from local village nurseries - 2,300 community members involved - Tree species with strong carb
Slide 43: Supply chain emissions: scope 3
Supply chain emissions: scope 3 Marine and Procurement Logistics Downstream customers 2021 equity basis 554 Mt CO2e Minerals Aluminium Iron Ore 22 9 523 Copper Partnering to Accelerating Supporting customers on decarbonise the transition to their decarbonisation journey end-state fuels ©2022, Rio Ti
Slide 44: Supporting our customers in their decarbonisation journeys
Supporting our customers in their decarbonisation journeys Multi-commodity, low-carbon and critical minerals Providing traceability to the end consumer - Prioritising growth in materials needed for the transition - Responding to customer traceability, transparency needs - Comprehensive green offer,
Slide 45: Supporting our customers - steel decarbonisation
Supporting our customers - steel decarbonisation 1 2 3 4 5 6 Blast Furnace Pilbara Beneficiation BioIronTM H2 DRI + Melter High-Grade DRI Iron Ore Portfolio Optimisation Optimising current Upgrading our Ironmaking with Ironmaking with Entry to high-grade Bringing high- technology Pilbara ores Pilbar
Slide 46: Iron ore
Iron ore Simon Trott Pilbara, Western Australia
Slide 47: A global portfolio with products for today and tomorrow
A global portfolio with products for today and tomorrow Unrivalled global resource portfolio Strategic differentiators Resources for a compelling product suite Global Mineral Resources & Ore Reserves1 Billions of dry tonnes, published grades Pilbara Infrastructure Iron Ore Company Reserves of Canada
Slide 48: Delivering in 2022
Delivering in 2022 2022 Outcomes Looking forward Record material movement. Strong H2 production Best operator Strong performance at IOC We approach 2023 with momentum Safe Production System delivering 120Mt of Pilbara mines commissioning Excel in Unlocked Western Range Project and Rhodes Ridge JV Mi
Slide 49: Momentum building quarter on quarter
Momentum building quarter on quarter Mine production ranges by quarter1 2023 focus areas Next 5 years (2019 to 2022, Mt/a) 360 2022 Ramp-up new mines Next tranche of mine Mines 340 Projected Drive productivity with SPS developments 2022 Asset reliability and pit health Low-cost volume creep 320 2022
Slide 50: Performance uplift across early SPS deployments
Performance uplift across early SPS deployments 6% Up to 46% at deployed sites improvement at deployed sites Employee satisfaction All Injury Frequency Rate Tom Price Brockman 4 19% 33% AHS equipment utilisation Weekly total material movement 14% 9% HG production daily rate Monthly Production from b
Slide 51: Costs reflect investment in asset health and input prices
Costs reflect investment in improving asset health and mining sector input prices 2022 Forecast vs 2021 Unit cost history Sector input prices Economic (US$/t FOB) 2x 12% Uncontrollable Pilbara Iron Ore Peers1 Diesel Exchange Rate 30 5 – 10% >7%2 Materials & Labour Inflation 26 22 Work Index Producti
Slide 52: Improved mine portfolio that maximises Pilbara Blend
We are delivering an improved mine portfolio that maximises Pilbara Blend Mine capital intensity Shipments by Product (US$ / tpa) (%) $160 $140 26 26 20 $120 Western Range $100 (Greater Paraburdoo) 5 6-12 Gudai-Darri 9 $80 Hope Downs 1 Sustaining1 Robe $60 Valley Brockman 4 Sustaining2 69 68-74 $40
Slide 53: Western Range represents our first co-designed mine
Western Range represents our first co-designed mine with Traditional Owners Strong ties with China’s leading steel maker Strengthen Pilbara Blend Tier 1 asset Agreed new Western Range JV with China 25Mt/a of Pilbara Blend process capacity through High grade 165Mt @ 62.0% Fe1, leveraging Baowu Steel
Slide 54: Rhodes Ridge will underpin our competitive position
Rhodes Ridge will underpin our competitive position for decades to come Large, high grade and compact Perfect for Pilbara Blend Iron Ore Resources and Reserves1 Impurities Area (Billions of tonnes) (km2) Resources Including: Rhodes Rhodes Ridge 5.7Bt @ 62.3% Fe 6.7 1,800 km2 Ridge (Australia) 30km x
Slide 55: System outlook and guidance
System outlook and guidance 360Mt 2023 Guidance1 Shipments: 320 – 335Mt (100% basis) 335Mt Unit costs: $21.0 - $22.5/t (0.70 A$:US$) 345Mt Sustaining capital: ~$1.8 billion Decarbonisation investment: $0.3 billion 320Mt Mid Term Guidance1 Shipments: 345 - 360Mt (100% basis) 2023 Mid Term ©2022, Rio
Slide 56: Our journey
Our journey Commissioned: Operational Performance: Operational Performance: Most valued Iron Ore Robe Valley & Gudai-Darri Strong system performance H2 Wider and deeper SPS rollout business: Early benefits of SPS Next tranche of replacement Best operator Partnerships: Ramp up projects mines Values b
Slide 57: RioTinto
RioTinto
Slide 58: Panel session 2: Best Operator
Panel session 2 Best Operator Arnaud Soirat, Simon Trott, Kellie Parker Moderated by Isabelle Deschamps Weipa operations, Queensland
Slide 59: Safe Production System (SPS)
Safe Production System (SPS) Best operator Strong, Front line stable customer- Building a lasting competitive advantage with our assets focused people. We want to empower them to safely run support assets that are in control, capable and performing better than any of our competitors. Great people Ca
Slide 60: Site-by-site progression of SPS deployments
Site-by-site progression: 30 deployments in 16 sites (end of November) Tom Price Brockman 4 Yandi West Angelas Rail Marandoo Hope Downs Iron Ore sites deployed Amrun Grand Baie Arvida Laterriere Kitimat Bell Bay Yarwun Aluminium sites deployed Iron Ore Company Kennecott Canada Copper/ Minerals sites
Slide 61: 2022 performance uplift at deployment sites
2022 performance uplift at deployment sites Safety People 8% ↑ 3% ↑ Year on year People Survey scores improvement in AIFR higher than the rest of their site Equipment Variability utilisation ↓ 7% 5% ↑ Improved online time Process variability when compared to the reduction same period last year ©2022
Slide 62: Improvements across safety, people and productivity
Improvements across safety, people and productivity SPS impact Kennecott concentrator IOC concentrator Amrun fixed plant Safety AIFR AIFR AIFR Practices and training 42% improvement YTD 44% improvement YTD 29% improvement YTD have improved safety* performance compared to 2021 compared to 2021 compar
Slide 63: Performance uplift across early SPS deployments in Iron Ore
Performance uplift across early SPS deployments in Iron Ore 6%1 Up to 46%1 at deployed sites improvement at deployed sites Employee satisfaction All Injury Frequency Rate Tom Price Brockman 4 19% 33% AHS equipment utilisation Weekly Total Material Movement 14% 9% HG production daily rate Monthly pro
Slide 64: Global priorities in 2023
Global priorities in 2023 New sites Total Deployment sites 2021 2022 2023 Sites* Iron Ore 2 5 2-6 9-13 Aluminium 1 6 1 8 Copper 1 0 0 1 Minerals 1 0 1 2 Total 5 11 4-8 20-24 Priorities in 2023: - Rolling out at new sites and going - Identify key Kaizens (problem solving deeper at existing sites wher
Slide 65: Aluminium
Ivan Vella Aluminium Kemano tunnel, British Columbia
Slide 66: Positioned to meet customers' needs in energy transition
Positioned to meet customers' needs in energy transition Energy transition demand Material innovation – Scandium Commercial value proposition Aluminium consumption from green applications Aluminium yield strength Mt Mega Pascals, for selected aluminium alloy series Strength increase 8.4 5-Series 368
Slide 67: Privileged low-carbon hydro resources in North America
Privileged low-carbon hydro resources in North America Global aluminum production by energy source 2023 global aluminium smelters energy cost curve Mt $/t Average carbon Other China Russia Rio Tinto intensity1 (t CO2/t Al) 2,500 Self gen Hydro 1.0 1.7 3.9 1.6 2 Grid Hydro2 6.0 3.2 1.0 2 2,000 Grid M
Slide 68: Current market conditions are short term and cyclical
Current market conditions are short term and cyclical Smelter operating margin and global inventories as Raw materials are high this cycle in relation to LME weeks of consumption Carbon materials and caustic soda costs as percentage of aluminium and 75th percentile smelter margin, 2022 $/t, 2000-202
Slide 69: Sustainable competitive advantage through the cycle
Sustainable competitive advantage through the cycle Short-term and cyclical market conditions 1 2 Grow North America Repower Pacific low-carbon aluminium Aluminium smelters Four Lenses To think strategically and tactically about our 4 3 aluminium business Optimise integrated Maintain options for alu
Slide 70: Best Operator focus to protect margins and unlock growth
Best Operator focus to protect margins and unlock growth Alma Safe Production System Stable performance and continuous production creep Production Kt, Rio Tinto equity share 550 500 450 400 350 Grande Baie, Saguenay Lac Saint Jean 300 Implementation of best practice rituals focused on operations and
Slide 71: Returning Boyne and Kitimat to Best Operator
Returning Boyne and Kitimat to Best Operator Boyne smelter Kitimat Production Production Kt, Rio Tinto equity share Kt, Rio Tinto equity share +23% 500 500 +148% 450 450 400 +7% 400 +9% 350 350 300 300 250 250 200 200 150 150 100 100 50 50 0 0 2022F 2023F 2024F 2022F 2023F 2024F Complete line 3 reco
Slide 72: Strengthening our green aluminum leadership
Strengthening our green aluminum leadership Innovation and Partnerships Green energy AP60 VAP and recycling ELYSIS™ Repowering coal-based assets in Lowest carbon intensity technology Arvida and Laterriere recycling Assessing pathways to accelerate partnership with governments and available at scale
Slide 73: Playing a bigger role in North America's energy transition
Playing a bigger role in North America's energy transition Largest mining and metal producer in North America Copper equivalent basis, 2021 actual production* Rio Tinto has the foundation to Rio Tinto grow in North America Freeport Nutrien Well-positioned industrial sites forming an integrated Agnic
Slide 74: Our aluminium journey
Our aluminium journey Commissioned: Operational performance: Low-carbon growth: Industry leadership: Laterrière recycling furnace Kitimat and Boyne recoveries AP60 expansion Industry leader in providing the Alumina refineries stabilisation Unlocking green energy green aluminium our customers Under-c
Slide 75: Panel session 3: Excel in Development
Panel session 3 Excel in Development Mark Davies, Bold Baatar, Simon Trott Moderated by Kellie Parker Oyu Tolgoi underground, Mongolia
Slide 76: Strengthening our partnership in an attractive investment destination
Strengthening our partnership in an attractive investment destination • Mongolia remains highly prospective for resources, with a young, resilient and skilled population • January agreement delivered opportunity to reset relationship and commitment to continued dialogue and partnership • Reforming,
Slide 77: Supplying US-made copper and critical minerals
Supplying US-made copper and critical minerals World-class producing assets Market leading low carbon, Advantaged exploration portfolio with significant growth pipeline low water leaching technology leveraging +100 years of fieldwork Focused on domestic US production An exciting future for Rio Tinto
Slide 78: Capital allocation and financials
Peter Cunningham Capital allocation and financials Brisbane Integrated Operations Centre
Slide 79: Disciplined allocation of capital remains at our core
Disciplined allocation of capital remains at our core Essential capex 1 Integrity, Replacement, Decarbonisation Further cash Compelling returns to 2 Ordinary dividends shareholders growth 3 Iterative cycle of Debt management ©2022, Rio Tinto, All Rights Reserved 79
Slide 80: Disciplined investing for growth and decarbonisation
Disciplined investing for growth and decarbonisation Capital expenditure profile (Rio Tinto share) $billion Lowered original 2022 guidance due to stronger ~9.0-10.0 US dollar and rephasing of decarbonisation ~9.0-10.0 and development projects ~8.0-9.0 7.4 ~7.0 Ambition to grow and decarbonise reflec
Slide 81: Ambition to invest up to $3 billion in growth per year
Ambition to invest up to $3 billion in growth per year Committed capex Advanced projects Rio Tinto share of growth capital Represents the Group’s economic Oyu Tolgoi Simandou investment in key growth projects ~45% through 2023-2025 Studies progressing towards approval in period Introduced to better
Slide 82: Building a portfolio of options
Building a portfolio of options Exploration & Evaluation (E&E) spend $billion Expenditure rising in line with development of project portfolio 1.0 Includes $250 million per year of central 0.9 greenfield exploration 0.7 Fully expensed via the P&L Progressing studies on Rincon, Resolution, Kennecott
Slide 83: Energy transition drives additional long-term value
Energy transition drives additional long-term value Total commodity demand by 2035* Key drivers of future scenarios Growth options <2°C scenario (up to $3bn / annum) Copper equivalent basis 2035 Li Cu - Rincon - Oyu Tolgoi 2021 - Other Lithium - Kennecott Growth - Resolution - Winu - NutonTM 2035 Ca
Slide 84: Robust and broad-based approach to decarbonisation
Robust and broad-based approach to decarbonisation Our approach to decarbonisation evaluation Decarbonisation components 2030 CO2e $7.5bn emission abatement %1 Capex % 1. Commercial solutions ~40% 0% 2 3 - Repowering Pacific smelters Materiality Maturity - Grid connected renewables (RBM, Kennecott)
Slide 85: Value accretive decarbonisation at a modest carbon price
Value accretive decarbonisation at a modest carbon price Renewables Alumina process heat Pilbara: Phase 1 – solar plus on-grid battery storage QAL double digestion* – 200MW solar plus 200MWh of on-grid battery storage – Energy efficient digestion process solutions delivered 2023-26 – Capex $0.3 bill
Slide 86: Attractive EBITDA margin and ROCE throughout the cycle
Attractive EBITDA margin and ROCE throughout the cycle 60% 60% 40% 40% Net operating costs YoY change 20% 20% EBITDA margin / ROCE Revenue YoY change YoY change 0% 0% EBITDA margin -20% -20% ROCE -40% -40% -60% -60% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022* ©2022, Rio Tinto,
Slide 87: Balance sheet is strong
Balance sheet is strong $billion 2022 2021 Disciplined approach is unchanged, we intend to H1 FY maintain it throughout the cycle Balance sheet strength is an asset. Offers resilience and Net cash generated from operating activities1 22.2 25.3 creates optionality Capital expenditure1 7.2 7.4 Commitm
Slide 88: Attractive dividends remain paramount
Attractive dividends remain paramount Shareholder returns1 of 40-60% of underlying earnings on average through the cycle Consistent six-year track record of Pay-out ratio (%) shareholder returns 100 Our second highest interim dividend ever in 2022 ($4.3 billion) 80 60% average pay-out on ordinary 60
Slide 89: We will maintain our capital discipline
We will maintain our capital discipline - Attractive return on capital - Replicate best demonstrated - Exceed best demonstrated - Best in class operating operating performance operating performance performance - Resilient cash flows through the cycle - Generate returns on R&D - Delivering value-addi
Slide 90: RioTinto
RioTinto
Slide 92: Product group level guidance
Product group level guidance 2023 2023 Production Guidance Unit cost guidance3 Iron ore 320 – 335Mt1 Pilbara Iron ore ($/tonne) $21.0 – $22.5 shipments (100% basis) Copper Copper C1 (US cents/lb) 160 – 180 Mined Copper 550 – 600kt Refined Copper 180 – 210kt Aluminium Bauxite 54 – 57Mt Alumina 7.7 –
Slide 93: Decarbonisation abatement programmes
Decarbonisation abatement programmes Programme Description & Key Sites Funding mechanism Example project - Economics Pacific Operations Renewables: smelters - Long-term market contracts - Commercial solutions achieved through government partnerships and Repower Boyne | Tomago - Government partnershi
Slide 94: Rio Tinto Energy Development
Rio Tinto Energy Development is dedicated to developing and partnering for renewables Isal 45 energy industry professionals recruited Kitimat to focus solely on delivering new Oyu IOC & Tolgoi renewable supply to Rio Tinto’s operations Saguenay Kennecott & Resolution Globally resourced team ensures
Slide 95: Industry cost headwinds offset by elements within our control
Industry cost headwinds are being offset by elements within our control Increases in work effort is reducing as new mine capacity is introduced Material movement (Bt) Effective flat haul* (km) Work index (Bt.km) 1.2 1.3 1.3 x 11 14 15 15 = 17 19 20 1.0 12 2018 2021 2022F 2024F 2018 2021 2022F 2024F
Slide 96: Sustaining investments are improving asset health
Sustaining investments are improving asset health Sustaining capital by year Investment in our assets continues (US$bn) (US$bn) 0.3 Uplift in decarbonisation investment 1.8 1.7 Improved asset health lifts production 1.2 Facilities upgrades with improved safety and cost performance Increased drilling
Slide 97: Decarbonising through partnerships and innovation in Canada
We are decarbonising through partnerships and innovation in Canada Partnering with the Government of Innovating to find new ways to deliver Canada to decarbonise RTFT and boost the emerging materials the world needs critical minerals processing C$737 million investment over eight years First produce
Slide 98: Iron Ore / Steel global production & emissions
Iron Ore / Steel Global production & emissions 2021 Rio Tinto production & emissions (equity basis) Includes Pilbara iron ore and IOC operations Total Upstream material moved Mining Shipping Ore-based steel Scrap-based steel PRODUCT 10,000Mt 2,400Mt 277Mt 55Mt CO2e 5.4Mt CO2e 1,250Mt 700Mt 8t / t st
Slide 99: Copper global production & emissions
Copper Global production & emissions 2021 Rio Tinto production & emissions Total Upstream material moved Mining Shipping Primary refined copper Secondary copper PRODUCT 12,000Mt 4,300Mt 100Mt 5Mt CO2e <0.1Mt CO2e 20.5Mt 0.2Mt 9.5Mt 600t / t Cu @0.6% Cu @0.6% Cu EMISSIONS 70Mt CO2e 2.0Mt CO2e <0.01t
Slide 100: Aluminium global production & emissions
Aluminium Global production & emissions 2021 Rio Tinto production & emissions Total Secondary Upstream material moved Mining Shipping Alumina Primary Aluminium Aluminium PRODUCT 1,000Mt 360Mt 54Mt 15Mt CO2e 1.9Mt CO2e 130Mt 7.9Mt 67Mt 3.2Mt 26Mt 16t / t Al @47% Al2O3 @49% Al2O3 EMISSIONS 4.7Mt CO2e
Slide 101: Common acronyms and definitions
Common acronyms Definitions AHS Automous Haulage System EC European Commission Mtpa Million tonnes per annum RTIO Rio Tinto Iron Ore Calculated The levelised marginal cost of abatement abatement at a zero carbon price Marginal Abatement Cost carbon price AIFR All Injury Frequency Rate EMEA Europe, M
Slide 102: RioTinto
RioTinto

Rio Tinto — Investor Day (November 2022) on 6ix

Rio Tinto — Investor Day (November 2022)

Slide 1: Investor Seminar

Slide 2: Cautionary and supporting statements

Slide 3: Cautionary and supporting statements (cont.)

Slide 4: Agenda

Slide 5: Culture share

Slide 6: ©2022, Rio Tinto, All Rights Reserved

Slide 7: ©2022, Rio Tinto, All Rights Reserved

Slide 8: ©2022, Rio Tinto, All Rights Reserved

Slide 9: ©2022, Rio Tinto, All Rights Reserved

Slide 10: ©2022, Rio Tinto, All Rights Reserved

Slide 11: ©2022, Rio Tinto, All Rights Reserved

Slide 12: Progressing with purpose

Slide 13: Partnering for shared success

Slide 14: Best Operator, Impeccable ESG, Excel in development

Slide 15: Co-management of Country

Slide 16: Finding better ways to provide the materials the world needs

Slide 17: Panel session 1: Our culture journey

Slide 18: Transparency, Dialogue, Trust

Slide 19: Engagement scores improving

Slide 20: Market fundamentals

Slide 21: Global trends driving commodity demand

Slide 22: Energy trilemma to energy tripod

Slide 23: Steel decarbonisation will affect the value of iron ores

Slide 24: Hydro-based aluminium even more attractive

Slide 25: Technology solutions

Slide 26: A strong global R&D footprint

Slide 27: …complemented by partnerships

Slide 28: Disciplined technology roadmap

Slide 29: Transition and the global energy mix

Slide 30: Firming and storage options

Slide 31: Hydrogen requires abundant low-cost green energy and lower capital costs

Slide 32: Fleet electrification will require time and technology breakthroughs

Slide 33: Breakthrough technologies create new revenue streams

Slide 34: Green steel pathways: range of potential technology options

Slide 35: Our technology journey

Slide 36: Decarbonisation – our pathway

Slide 37: Processing accounts for the majority of our carbon footprint

Slide 38: Executing our ambitious plan towards net zero by 2050

Slide 39: Pursuing an abatement pathway to reach our 2030 target

Slide 40: Path to 2030: select renewable and process heat projects underway

Slide 41: Increased role of Nature-based Solutions

Slide 42: We are scaling up Nature-based Solutions close to our assets

Slide 43: Supply chain emissions: scope 3

Slide 44: Supporting our customers in their decarbonisation journeys

Slide 45: Supporting our customers - steel decarbonisation

Slide 46: Iron ore

Slide 47: A global portfolio with products for today and tomorrow

Slide 48: Delivering in 2022

Slide 49: Momentum building quarter on quarter

Slide 50: Performance uplift across early SPS deployments

Slide 51: Costs reflect investment in asset health and input prices

Slide 52: Improved mine portfolio that maximises Pilbara Blend

Slide 53: Western Range represents our first co-designed mine

Slide 54: Rhodes Ridge will underpin our competitive position

Slide 55: System outlook and guidance

Slide 56: Our journey

Slide 57: RioTinto

Slide 58: Panel session 2: Best Operator

Slide 59: Safe Production System (SPS)

Slide 60: Site-by-site progression of SPS deployments

Slide 61: 2022 performance uplift at deployment sites

Slide 62: Improvements across safety, people and productivity

Slide 63: Performance uplift across early SPS deployments in Iron Ore

Slide 64: Global priorities in 2023

Slide 65: Aluminium

Slide 66: Positioned to meet customers' needs in energy transition

Slide 67: Privileged low-carbon hydro resources in North America

Slide 68: Current market conditions are short term and cyclical

Slide 69: Sustainable competitive advantage through the cycle

Slide 70: Best Operator focus to protect margins and unlock growth

Slide 71: Returning Boyne and Kitimat to Best Operator

Slide 72: Strengthening our green aluminum leadership

Slide 73: Playing a bigger role in North America's energy transition

Slide 74: Our aluminium journey

Slide 75: Panel session 3: Excel in Development

Slide 76: Strengthening our partnership in an attractive investment destination

Slide 77: Supplying US-made copper and critical minerals

Slide 78: Capital allocation and financials

Slide 79: Disciplined allocation of capital remains at our core