Repowering Pacific Aluminium Operations 

• Executed agreements with Edify Energy for Smoky Creek and Guthrie’s Gap Solar Power Stations (600 MW solar, 2,400 MWh BESS with 90% Rio Tinto offtake). 
• Progressed further procurement of renewable energy and storage projects.
• Progressed engagement with state and federal governments to secure support agreements for BSL.
• Announcement from state and federal governments to explore energy pathway for Tomago beyond 2028.

• Complete remaining renewable energy sourcing, support energy projects progression to financial close, and develop market operations capability to support operationalisation at BSL. Finalise support arrangements with State and Federal governments. 
• Progress QAL options review to repower existing load with renewable energy. 
• Continue Tomago discussions.

Other renewable electricity developments

• Commissioning was successfully completed at Gove (10 MW) in November, while Amrun (22 MW) has experienced some delays and will now achieve commercial operations in 2026.
• Construction completed and commercial operations achieved at Kennecott solar phase 2 (25 MW) in December 2025.
• Construction completed at QIT Madagascar Minerals (QMM) wind facility (16 MW) with commercial operations expected in 2026. 
• Construction commenced at Richards Bay Minerals (RBM) Overberg wind PPA (230 MW). 
• Completed construction at the RBM Bolobedu solar project (130 MW), grid connection now pending.
• Executed the Jinbi solar (75 MW) agreement with Yindjibarndi Energy Corporation.
• Karratha solar (80 MW) approval deferred to 2026.
• Commercial operations achieved for the Monte Cristo VPPA (78.5 MW) wind project with an additional 179 MW wind PPA executed.
• Secured 100 MW of renewable energy at Resolution Copper through a Green Tariff agreement with local utility Salt River Project. Delivery scheduled to begin in mid-2028. 

• Begin feasibility study to support the construction of a 10 MW onsite solar farm at Simandou.
• Execute the 150 MW Oyu Tolgoi wind PPA and a BESS.
• Commercial operations set to begin at the 140 MW RBM Khangela wind farm.
• Commercial operations set to begin at RBM Bolobedu.
• Received notice to proceed for the 56 MW Winu hybrid PPA.
• Begin construction on a 179 MW wind VPPA.
• Begin construction on the 75 MW Jinbi Solar farm.

• BEHT: In the Pilbara, Caterpillar trials started at Jimblebar.
• Oyu Tolgoi: Battery swap truck trial initiated with full system commissioning on site.
• Pongamia: Development progressed in Queensland, with the first 100,000 plantings.

• BEHT: Progress Caterpillar trial at Jimblebar (two CAT 793 BEHT), finalise Komatsu BEHT design, validation and commercialisation planning, and collaborate on the broader program activities required to support a pilot commencing from 2029.
• Oyu Tolgoi: Full battery equipment and system testing and validation of 8 battery electric trucks, battery swapping station, static charger and associated infrastructure. 
• Pongamia: Continue initial farm operations, including research and development, and planting across the 2,500 ha properties. 

Aluminium anodes

• Arvida: Achieved record-breaking longevity for a 100 kA ELYSIS™ cell, while advancing site works, infrastructure and construction for the additional 10 ELYSIS™ cells.
• Alma: Launched the industrial-scale (450 kA) ELYSIS™ cell #1. 

• Arvida: Continue to operate 100 kA cell.
• Arvida: Finalise the implementation of the first 7 cells and begin commissioning and start-up with first hot metal expected in 2027. 
  
  Alma: Launch the industrial-scale (450 kA) cell #2 and cell #3.

Alumina processing

• QAL (double digestion): Feasibility study progressing, heater trial progressing and transport study underway. 
• Yarwun (hydrogen calcination): Commissioning activities have commenced and will continue through early 2026 with hydrogen calcination trials expected to commence at the start of 2026. 
• Vaudreuil (electric boiler): Site preparation work has begun.
• Vaudreuil (electric calcination): Pilot commissioning and pre-tests are underway. 

• QAL (double digestion): Complete feasibility study and commence detailed engineering plan. 
• Yarwun (hydrogen calcination): Execute trial program. 
• Yarwun (TES): Complete feasibility study.
• Gladstone biofuels: Finalise initial supply contract for supply to begin in 2027/28.
• Vaudreuil (electric boiler): Construction will continue through 2026 with commissioning planned for 2027.

Vaudreuil (electric calcination): Preparatory work for the industrial-scale demonstration, following piloting results, is scheduled to begin. 

Minerals processing

• Évolys™: Completed construction and commissioning, with readiness activities in progress.
• BlueSmelting™: Conversion of the plant to enable iron metallisation is complete, with commissioning activities well advanced. 
  
  Iron Ore Company of Canada (IOC) electric boiler: Installation and commissioning complete; 40 MW unit now operational. 

• Évolys™: Industrial ramp-up to maximise biocarbon replacement at Rio Tinto Iron and Titanium Quebec Operations/RBM and developing alternate customers.
• Évolys™: Develop phase 2 business case to lower production costs and expand the product portfolio. 

BlueSmelting™: Complete the final iron metallisation assessment and prepare the phase-out of BlueSmelting™. 

• Clean cooking pilots listed on registries: 120,000 cookstoves distributed in Madagascar. User Acceptance Testing completed in Guinea.
• Reforestation pilots: initiated investment in 2 Guinea projects. Pilot in Madagascar completed.
• Guinea agroforestry project: feasibility study completed. 
• Verified Emissions Reduction Purchase Agreement (VERPA) signed for Makira Natural Park REDD+1 Project in Madagascar.
• South Africa feasibility study completed. Project Design Document finalised for KwaZulu-Natal (KZN) Sustainable Landscapes Program. Enabled stakeholder engagement for expanded World Heritage site in KZN. Funded initiation of co-management agreement between Ezemvelo KZN Wildlife and Peace Parks Foundation.
• Argentina sustainable grasslands project: offtake agreement secured, complementing 2025 investment in conservation and soil carbon research.
• Australia environmental planting ACCU pipeline: market review completed and new offtake agreements secured.

• Conclusion of Madagascar clean cooking pilot².
• Distribute cookstoves for Guinea clean cooking pilot. 
• Progress Guinea blue carbon mangrove protection and restoration project. 
• Progress Guinea community reforestation project. 
  
  Scale-up Australia environmental planting projects.