Aluminium for lightweight cars. Copper to help things work more efficiently – from renewables to the power in your home. Iron ore for the steel in our electricity infrastructure. Lithium for electric vehicles and battery storage. And many of the materials we produce are essential for the things in everyday life too: Borates that help crops grow, titanium for paint – and diamonds that celebrate the best things in life.
We work in 35 countries – in mines, smelters and refineries, as well as in sales offices, data centres, research and development labs and with artificial intelligence. Our geologists explore the Earth’s wildest terrain. Our wildlife specialists work to protect and conserve grizzly bears in Canada and migratory shorebirds in Western Australia. Our marketing teams make sure our essential materials meet the specific needs of customers around the world. And we are home to one of the world’s largest robots and maybe one of the smallest – we call him Mark.
The transition to a low carbon world offers a unique opportunity for us to grow, and to play an important role in tackling this global challenge. We know we have a major carbon footprint, significant scope 1 and 2 emissions and material indirect scope 3 emissions. We must switch to renewables at scale, electrify everything we can electrify, work across our entire value chain and accelerate the development of new technology.
We were founded in 1873, on the banks of the Rio Tinto river in Andalusia, Spain. We are proud of everything we have achieved. At Rio Tinto, we know our future is even brighter than our past.
Our values – care, courage and curiosity – guide how we work and how we treat each other.
Care: for people, for the communities in which we operate and for our environment
We act with care by prioritising the physical and emotional safety and wellbeing of those around us. We respect others, build trusting relationships and consider the impact of our actions. We look for ways to contribute to a better future for our people, communities and the planet.
Courage: to try new things, speak up and do what’s right
We act with courage by showing integrity, speaking up when something is not right and taking decisive action when needed. We are not afraid to try new things. We respond positively in difficult situations and demonstrate commitment to achieving shared goals.
Curiosity: to collaborate, learn and innovate
We act with curiosity by inviting diverse ideas and collaborating to achieve more together than can be done alone. We are continuously learning, creatively looking for better and safer ways of doing things. We draw inspiration from others and the world around us.
We are putting the low carbon transition at the heart of our business strategy. In 2021, we set new scope 1 and 2 greenhouse gas emissions targets, and [refocused] our business strategy on three areas:
- Accelerating our own decarbonisation, switching to renewable power, electrifying processing and running electric mobile fleets.
- Prioritising growth capital in commodities that are essential to the drive to net zero, and look to grow further in copper, battery materials and high-quality iron ore.
- Increasing our investment in R&D to speed up the development of products that will enable our customers to decarbonise quicker.
And to achieve this, we will work closely with governments, customers, communities, universities and other partners.
In doing all this, we will maintain our capital discipline and continue to pay attractive dividends. We will continue to focus on world class assets that generate cash flows through the cycle, and our financial strength allow us to do both, while also protecting us against inevitable volatility