H1 2023 EBITDA Overview and Oyu Tolgoi Outlook
Simplified earnings by Business Unit for H1 2023
Sales volume
Primary Metal Atlantic Pacific Aluminium
1,172kt
501kt
Copper
314kt6
Pilbara
139.8Mt⁹
Average benchmark price
$2,329/t
$2,329/t
396c/lb7
$109.8/dmt10
Premiums, provisional pricing, by-product sales, product mix, other
$654/t²
$263/t2
50c/lb
$(2.6)/dmt
Revenue per unit
$2,983/t3
$2,592/t³
446c/lb
$107.2/dmt
Unit cost
Other costs per unit
Margin per unit
Total EBITDA ($m)
Rio Tinto
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$1,756/t1,4
$2,177/t1,4
244c/lb1,8
$21.2/t
$562/t5
$194/t5
11c/lb5
$17.7/t11
$665/t
$221/t
191c/lb
$68.2/t
779
111
1,323
9,541
1Calculated using production volumes | 2Includes Midwest premium duty paid, which was 56% of our volumes in first half 2023 and value added premiums which were 47% of the primary
metal we sold | ³Segmental revenue per Financial Information by Business Unit includes other revenue not included in the realised price | 4Includes costs before casting | "Includes net
inventory movements to derive margin per unit on a sales basis | 6Copper consolidated share, Kennecott and Oyu Tolgoi at 100%, Escondida at 30% | 7Average LME | 8C1 copper unit costs
on a gross basis (excluding by-product credits) | °Consolidated basis | 10 Platts (FOB) index for 62% iron fines | 11Includes freight and royalties
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