At the heart of our approach is a portfolio of world-class assets – multi-decade sources of essential materials that deliver attractive returns throughout the cycle, and material long-term growth opportunities. We use a clear strategic framework to assess our existing assets and new opportunities – taking into account the industry attractiveness and the competitive advantage of each asset, and its capacity to deliver strong and stable returns.
Safety is our number one priority and is core to everything we do. We seek to generate value throughout the value chain, from mine to market, and prioritise value over volume in all of our operating and investment decisions. We have achieved significant cost savings over recent years and this remains a focus area, along with boosting the productivity of our assets.
As pioneers in the development and use of technology and innovation, we are well positioned to address the increasingly complex geological, environmental and cost pressures that lie ahead. Our centralised marketing function works hand-in-hand with our operations to maximise value from our activities and keep our resource management fully aligned to the market.
We will continue to develop new markets for our materials, deploy industry-leading supply chain optimisation and logistics solutions, and exploit our in-house centres of excellence for value-in-use analysis, pricing and contracting strategies, helping us manage risk and capture value in all market conditions.
Human progress is at the core of Rio Tinto’s purpose, and attracting, developing and retaining the best people will be crucial to our future success. We continue to strengthen our technical and commercial capabilities through our centres of excellence for these areas, and are committed to building a diverse and inclusive workforce throughout the organisation.
To remain competitive, manage the unique risk profiles of our businesses and secure access to new sources of essential materials, we must partner with a range of external stakeholders, including customers, suppliers, investors, governments and local communities. Partnerships impact every stage of the value chain and mining life cycle, and are critical in helping us secure and maintain our licence to operate.