RIO TINTO LTD
For the period ended Dec 31, 2024. Filed Feb 20, 2025.
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The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.
FY2024 · Filed Feb 20, 2025
Contents
Capital commitments
Our capital commitments include:
–open purchase orders for managed operations and non-managed tolling entities
–expenditure on major projects already authorised by our Investment Committee for non-managed operations.
On a legally enforceable basis, capital commitments excluding the Group’s share of joint ventures would be approximately US$1,872 million
(2023: US$1,400 million) as many of the contracts relating to the Group’s projects have various cancellation clauses.
The capital commitments for Simandou are shown on a 100% basis for the SimFer mine and the SimFer scope of infrastructure as managed
operations. The SimFer investment in WCS Rail and Port is classified as a joint venture capital commitment and is shown inclusive of the
funding due from non-controlling interests.
| 2024 US$m | 2023US$m | |
|---|---|---|
| Capital commitments excluding the Group's share of joint venture capital commitments | ||
| Within 1 year | 4,559 | 3,662 |
| Between 1 and 3 years | 602 | 597 |
| Between 3 and 5 years | 313 | 27 |
| After 5 years | 82 | 99 |
| Total | 5,556 | 4,385 |
| Group's share of joint venture capital commitments | ||
| Within 1 year | 1,280 | 128 |
| Between 1 and 3 years | 271 | 99 |
| Total | 1,551 | 227 |
Impact of climate change on our business - decarbonisation capital commitmentsCapital commitments do not include the estimated incremental capital expenditure relating to decarbonisation projects of US$5 billion to US$6 billion between 2022 and 2030 unless otherwise contractually committed. Included in capital commitments at 31 December 2024 are contractually committed decarbonisation capital commitments of US$114 million (2023: US$123 million), inclusive of the Amrun power purchase agreement, which is a treated as a lease, which has not yet commenced (disclosed in note 21).
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