Finding better ways to provide the materials the world needs
Our business
We operate in 35 countries where our 60,000 employees are working to find better ways to provide the materials the world needs
Our purpose in action
Continuous improvement and innovation are part of our DNA
Innovation
The need for innovation is greater than ever
We supply the metals and minerals used to help the world grow and decarbonise
Iron Ore
The primary raw material used to make steel, which is strong, long-lasting and cost-efficient
Lithium
The lightest of all metals, it is a key element needed for low-carbon technologies
Copper
Tough but malleable, corrosion-resistant and recyclable, and an excellent conductor of heat and transmitter of electricity
Bringing to market materials critical to urbanisation and the transition to a low-carbon economy
Oyu Tolgoi
One of the most modern, safe and sustainable operations in the world
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
Climate Change
We’re targeting net zero emissions by 2050
Nature solutions
Our nature-based solutions projects complement the work we're doing to reduce our Scope 1 and 2 emissions
Enabling ESG transparency
Our START™ initiative tracks traceability and responsible production of Rio Tinto materials.
We aim to deliver superior returns to our shareholders while safeguarding the environment and meeting our obligations to wider society
Reports 2024
Download our 2024 suite of reports, including our 2024 Taxes and Royalties Paid Report, detailing $8.4 billion of taxes and royalties paid globally during the year
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Things You Can't Live Without
Our podcast discussing what needs to happen to create a sustainable future for the everyday items we have come to rely on
Refuelling the mining industry
How can we power the world’s biggest machines with new fuel solutions?
Forging a low-carbon future
How we're working to decarbonise iron ore and steel
Discover more about life at Rio Tinto
Graduates and students
If you want to drive real change, we have just the place to do it
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Supporting new parents of any gender with equal access to parental leave
Available jobs
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LONDON--(BUSINESS WIRE)--Rio Tinto Chief Executive Jakob Stausholm said: "It has been an extraordinary year – our successful response to the COVID-19 pandemic and strong safety performance were overshadowed by the tragic events at the Juukan Gorge, which should never have happened.
"During 2020, the agility and resilience of the business and our employees, coupled with strong commodity prices, enabled us to deliver underlying EBITDA of $23.9 billion and Return on Capital Employed of 27%. As a result, the Board has approved a total dividend of 557 US cents per share including a special dividend of 93 US cents per share, representing a 72% full year pay-out ratio, which builds on our five-year pay-out track record.
"My new executive team and wider leadership of the company are all committed to unleashing Rio Tinto’s full potential. We will increase our focus on operational excellence and project development and strengthen our ESG credentials. Working closely with the Board, we must earn the right to become a trusted partner for Traditional Owners, host communities, governments and other stakeholders but we all recognise that this will require sustained and consistent effort.
"Safe and well-run operations, together with world-class assets, great people, capital discipline and a strong balance sheet, leave Rio Tinto well placed to generate superior returns for shareholders, invest in sustaining and growing our portfolio, and make a broader contribution to society."
At year end
2020
2019
Change
Net cash generated from operating activities (US$ millions)
15,875
14,912
6%
Capital expenditure1 (US$ millions)
6,189
5,488
13%
Free cash flow2 (US$ millions)
9,407
9,158
3%
Consolidated sales revenue (US$ millions)
44,611
43,165
Underlying EBITDA2 (US$ millions)
23,902
21,197
Net earnings (US$ millions)
9,769
8,010
22%
Underlying earnings2 per share (US cents)
769.6
636.3
21%
Ordinary dividend per share (US cents)
464.0
382.0
Total dividend per share (US cents)
557.0
443.0
26%
Net debt2 (US$ millions)
(664)
(3,651)
Return on capital employed (ROCE)2
27%
24%
Our financial results are prepared in accordance with International Financial Reporting Standards (IFRS) and are unaudited.
The 2020 full year results release is available here
Footnotes
1 - Capital expenditure is presented gross, before taking into account any cash received from disposals of property, plant and equipment (PP&E).
2 - This financial performance indicator is a non-GAAP alternative performance measure ("APM"). It is used internally by management to assess the performance of the business and is therefore considered relevant to readers of this document. It is presented here to give more clarity around the underlying business performance of the Group’s operations.
This announcement is authorised for release to the market by Rio Tinto’s Group Company Secretary.
LEI: 213800YOEO5OQ72G2R82
Classification: 3.1 Additional regulated information required to be disclosed under the laws of a Member State
View source version on businesswire.com: https://www.businesswire.com/news/home/20210216006269/en/
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Media Relations, United Kingdom Illtud HarriM +44 7920 503 600
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Clare PeeverM: +44 7788 967 87
Investor Relations, Australia Natalie WorleyT +61 3 9283 3063M +61 409 210 462
Amar JambaaT +61 3 9283 3627M +61 4 7286 5948
Rio Tinto plc 6 St James’s SquareLondon SW1Y 4ADUnited KingdomT +44 20 7781 2000Registered in EnglandNo. 719885
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Category: General
Source: Rio Tinto