Rio Tinto Plc · LSE:RIO
Rio Tinto — Shareholder Meeting (May 2010)
32 slides from Rio Tinto's shareholder meeting presentation, May 26, 2010
Slide 1: Rio Tinto Limited – Annual General Meeting announcement
Rio Tinto Limited 120 Collins Street Melbourne 3000 Australia Postal Address: GPO Box 384D Melbourne 3001 Australia T +61 (0) 3 9283 3333 F +61 (0) 3 9283 3707 For personal use only Company Announcements Office Australian Securities Exchange SYDNEY NSW 2000 26 May 2010 Rio Tinto Limited – Annual Gen
Slide 2: 2010 annual general meeting
2010 annual For personal use only general meeting Melbourne 26 May 2010
Slide 3: Jan du Plessis, Chairman
For personal use only Jan du Plessis Chairman
Slide 4: New directors
New directors For personal use only Sam Walsh June 2009 Ann Godbehere February 2010 Robert Brown April 2010
Slide 5: 2009 – a year of two halves
2009 – a year of two halves For personal use only First • Weak demand and low pricing • Large debt exposure in the downturn • Shareholders question Chinalco transaction Second • Rights issues raised US$14.8 billion • Binding agreements for iron ore production joint venture • Divestments for good val
Slide 6: 2009 – financial results
2009 – financial results For personal use only • Underlying earnings a commendable US$6.3 billion • Net earnings were US$4.9 billion • Total dividends declared 45 US cents per share – (51.56 Australian cents) • Committed to a progressive dividend policy
Slide 7: Unchanged strategy
Unchanged strategy For personal use only • Large, long life, low cost assets • Prudent balance sheet management • China relationship important to realise strategy • Commitment to sustainable development Yandicoogina iron ore, Australia
Slide 8: Our global outlook
Our global outlook For personal use only • Strong market recovery in second half • China expected to grow at a rate of nine per cent in 2010 • Economic conditions remain volatile and uncertain • Prospect of long term demand from Asia still intact • Our business remains an attractive proposition (1)
Slide 9: Tom Albanese, Chief executive
For personal use only Tom Albanese Chief executive
Slide 10: Safety is core to our business
Safety is core to our business For personal use only
Slide 11: The balance sheet has been recapitalised
The balance sheet has been recapitalised For personal use only Note: debt maturity profile is as at 31 December 2009. The Group reduced net debt by approximately $4.5 billion during the first quarter of 2010. $6 billion of the 2012 maturity was repaid early during the four months to 30 April 2010.
Slide 12: 2009 underlying earnings
2009 underlying earnings For personal use only Underlying earnings (US$bn) Aluminium – significantly affected by downturn (0.6 billion) Copper – better costs, higher output 1.9 billion Diamonds & Minerals – adverse impact of markets 0.8 billion Energy – strong production and sales 1.4 billion Iron o
Slide 13: Strong long term market environment
Strong long term market environment For personal use only • Developing world commodity requirements unchanged • Consumption trends may double demand for iron ore, aluminium and copper • Expandable assets, core skills position us to help meet the challenge
Slide 14: Strategic strengths
Strategic strengths For personal use only • Core objective to maximise total shareholder return • Focus on Tier 1 assets • Five business priorities play to our strengths to achieve our vision • Production joint venture with BHP Billiton to deliver more tonnes faster Bingham Canyon copper, US
Slide 15: Relationship with China
Relationship with China For personal use only • Working hard to resolve difficult period • Link with Chinalco in Guinea • We are willing to develop further partnerships • Platinum sponsor of Australian pavilion at Shanghai World Expo Chongqing, China
Slide 16: Super tax
Super tax For personal use only • Support fair tax reform • Re-invested every after-tax dollar earned in Australia • All Australian investment projects being re-evaluated • Super tax would erode Australian competitiveness • Ready and willing to work with Government
Slide 17: Growth pipeline
Growth pipeline For personal use only • Iron ore expansion in Pilbara, Canada, India and Guinea • Aluminium expansions in Middle East and Yarwun • Copper investments in Mongolia and at Kennecott • New nickel mine in Michigan • Clermont coal and Diavik Diamonds new production Simandou iron ore, Guine
Slide 18: A focus on the future
A focus on the future For personal use only • Emerged from testing year as a stronger company • Renewed confidence to pursue development options • Thank you for support of employees and shareholders Oyu Tolgoi copper-gold, Mongolia
Slide 19: 2010 annual general meeting
2010 annual For personal use only general meeting 26 May 2010
Slide 20: Resolution: receive financial statements and reports
Resolution 1 For personal use only To receive the financial statements and the reports of the directors and auditors for the full year ended 31 December 2009
Slide 21: Resolution: approval of the remuneration report
Resolution 2 For personal use only Approval of the remuneration report
Slide 22: Election of Robert Brown as a director
Resolution 3 For personal use only Election of Robert Brown as a director
Slide 23: Election of Ann Godbehere as a director
Resolution 4 For personal use only Election of Ann Godbehere as a director
Slide 24: Election of Sam Walsh as a director
Resolution 5 For personal use only Election of Sam Walsh as a director
Slide 25: Re-election of Guy Elliott as a director
Resolution 6 For personal use only Re-election of Guy Elliott as a director
Slide 26: Re-election of Michael Fitzpatrick as a director
Resolution 7 For personal use only Re-election of Michael Fitzpatrick as a director
Slide 27: Re-election of Lord Kerr as a director
Resolution 8 For personal use only Re-election of Lord Kerr as a director
Slide 28: Resolutions 3-8: Election/re-election of directors
Resolutions 3-8 For personal use only Election/re-election of directors
Slide 29: Re-appointment of PricewaterhouseCoopers LLP as auditors
Resolution 9 For personal use only Re-appointment of PricewaterhouseCoopers LLP as auditors of Rio Tinto plc and to authorise the audit committee to set their remuneration
Slide 30: Renewal of off-market and on-market share buyback authorities
Resolution 10 For personal use only Renewal of off-market and on-market share buyback authorities
Slide 31: Renewal of authorities to buy back shares held by Rio Tinto plc
Resolution 11 For personal use only Renewal of authorities to buy back shares held by Rio Tinto plc
Slide 32: 2010 annual general meeting
2010 annual For personal use only general meeting 26 May 2010