Slide 1: PDAC 2020
PDAC 2020 Stephen McIntosh – Group Executive Growth & Innovation 2 March 2020
Slide 2: Cautionary statements
Cautionary statements This presentation has been prepared by Rio Tinto plc and Rio Tinto Limited (“Rio Tinto”). By accessing/attending this presentation you acknowledge that you have read and understood the following statement. Forward-looking statements This document, including but not limited to a
Slide 3: Growth is all about value: invest in assets and create options through exploration
Growth is all about value: invest in assets and create options through exploration $2.6 billion Quality Margins Returns Development growth capital invested $0.6 billion Focus on most promising exploration opportunities Spent on exploration and evaluation >200 17 countries Opportunities reviewed by 6
Slide 4: A truly global footprint – well funded and very active
A truly global footprint – well funded and very active Exploring for 7 different commodities across 17 countries* Targets tested Metres drilled (km) 87 230 67 54 89 97 2017 2018 2019 2017 2018 2019 Tenements / Active hectares agreements (millions) Iron Ore Bauxite Copper Diamonds 261 9.8 Uranium 7.3
Slide 5: 7 decades of industry leading discovery performance
7 decades of industry leading discovery performance 1947 1950 1955 1956 1960 1962 1964 1968 1970 1975 1977 1980 1983 1986 1990 1994 1996 1999 2002 2004 2006 2007 2008 2009 2011 2014 2015 2018 2019 1947 1955 1962 1972 1979 1996 2002 2004 2006 2009 2018 Canada Australia Australia South Africa Australi
Slide 6: A high conversion rate – a lot of our discoveries went into production
A high conversion rate – a lot of our discoveries went into production 12 Tier 1 & 2 Production Non-production 10 Number of discoveries 8 6 4 2 0 47-60 61-70 71-80 81-90 91-00 01-05 Discovery handover year Source: Rio Tinto Exploration internal analysis. Data from 2005 onwards excluded, 6 given lag
Slide 7: The lost decade – the industry got busy being busy, but found less
The lost decade – the industry got busy being busy, but found less 80 30 70 Industry success historically tied Exploration budget (2018 US$b real) 25 60 to spend Number of discoveries 20 50 40 15 From ’94-’08 there was a fairly uniform 30 10 trend for spend and discovery success 20 5 10 But then the
Slide 8: Industry consolidation had an impact, but it is now time for all to step up
Industry consolidation had an impact, but it is now time for all to step up Then Now CRA 8 ©2020, Rio Tinto, All Rights Reserved
Slide 9: Analytics and technology enabled exploration strategy
Analytics and technology enabled exploration strategy Sophisticated proprietary tools & techniques Rapid application of new technologies + Geochronology Automated Hyperspectral “Greenrocks” Drones Data in the field & Fertility Mineralogy Imaging Predictive Search Research New models Analytics Analyt
Slide 10: Rio Tinto has an excellent track record of effectively exploring beneath cover
Rio Tinto has an excellent track record of effectively exploring beneath cover 1900 1920 1940 1960 1980 2000 2020 Industry discoveries are increasingly at 0 depth – typically greater capital at risk for 500 investment 1,000 Rio Tinto has an excellent track record of effectively exploring beneath cov
Slide 11: We are accelerating Winu
We are accelerating Winu Extensive drilling & geophysical programs completed. Drilled 16 km in 2018 and 124 km in 2019. Initial environmental and sub fauna base line studies completed. Other studies well advanced including: geotechnical, hydrology, mining, processing, basic engineering design. Stage
Slide 12: Technology on show at FalCon
Technology on show at FalCon Not a typical site Novel application of existing non- mining technology Working with our partner to quickly identify the potential 12 FalCon diamond project - cutter crew changeover after reaching 228.4 metres ©2020, Rio Tinto, All Rights Reserved depth
Slide 13: Best in class analytics & technology
Best in class analytics & technology Industry needs to crack the code on cover – Rio Tinto will play it’s part Ready to partner globally 13 ©2020, Rio Tinto, All Rights Reserved