Finding better ways to provide the materials the world needs
Purpose & Values
The drive for innovation and continuous improvement is at the heart of our purpose
Business Strategy
Climate change is at the heart of our business strategy
We are 150
150 years of finding better ways
Iron Ore
Iron ore is the primary raw material used to make steel
7 things the world will need for a low-carbon future
Wind, sun and water – what else do you need to make renewable energy work?
Sustainability – the expectation, not the exception
Shaping our aluminium product offering to meet demand for greener metals
We work across six continents in around 35 countries
Look inside a mine of the future
Our most intelligent mine yet is pioneering new mining technologies
Rincon Project
A long-life, low-cost and low-carbon lithium source
Simandou Project
The world’s largest untapped high-grade iron ore deposit
Providing materials the world needs in a responsible way
Sustainability Reporting 2022
We have a responsibility to extract the full value from the minerals and materials we produce in the safest and most sustainable way possible
Climate Change
We’re targeting net zero emissions by 2050
Water
Sharing our water usage
We aim to deliver superior returns to our shareholders while safeguarding the environment and meeting our obligations to wider society
Rio Tinto Limited 2023 AGM
Perth: 4 May 2023
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Rio Tinto chief executive J-S Jacques said: "Today’s results show we have kept our commitment to maximise cash and productivity from our world-class assets, delivering $3.6 billion in shareholder returns while maintaining a robust balance sheet. At the same time, we strengthened the portfolio and advanced our high-value growth projects as we look to the future.
"We enter 2017 in good shape. Our team will deliver $5 billion of extra free cash flow over the next five years from our productivity programme. Our value over volume approach, coupled with a robust balance sheet and world-class assets, places us in a strong position to deliver superior shareholder returns through the cycle."
Year to 31 December
2016
2015
Change
Net cash generated from operating activities (US$ millions)
8,465
9,383
-10%
Underlying earnings2 (US$ millions)
5,100
4,540
+12%
Net earnings / (loss) (US$ millions)
4,617
(866)
n/a
Capital expenditure3 (US$ millions)
(3,012)
(4,685)
-36%
Underlying earnings per share (US cents)
283.8
248.8
+14%
Basic earnings / (loss) per share (US cents)
256.9
(47.5)
Ordinary dividend per share (US cents)
170.0
215.0
-21%
At 31 December
Net debt4, 6 (US$ millions)
9,587
13,783
-30%
Gearing ratio5, 6
17%
24%
The financial results are prepared in accordance with IFRS and are unaudited.1Operating cash cost improvements represent the difference between the current and prior year full cash cost of sales per unit based on the prior year volume sold.2Underlying earnings is a key financial performance indicator which management uses internally to assess performance. It is presented here to provide greater understanding of the underlying business performance of the Group’s operations. Net and underlying earnings relate to profit attributable to the owners of Rio Tinto. Underlying earnings is defined and reconciled to net earnings on page 46.3Capital expenditure is presented gross, before taking into account any disposals of property, plant and equipment.4Net debt is defined and reconciled to the balance sheet on page 40.5Gearing ratio is defined as net debt divided by the sum of net debt and total equity at each period end.6These financial performance indicators are those which management use internally to assess performance, and therefore are considered relevant to users of the accounts.
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With the exception of the use of cookies (explained below), Rio Tinto generally does not seek to collect personal data through this website. However if you choose to provide personal data to Rio Tinto through this website (for example, by sending us an email), we will process that personal data to answer your query and if relevant, to manage our business relationship with you or your company. We won't process that personal data for other purposes except where required to meet our legal obligations or otherwise as authorised by law and notified to you.
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