Strong Foundation for Growth, Decarbonisation and Shareholder Returns
Other movements in underlying EBITDA
Underlying EBITDA impact
FX/
Energy
$ million
2020
price
& Inflation
Volumes
Cash
costs
E&E
Non-cash
Other
2021
Other operations
24
578
-91
37
-56
0
-102
-418
-28
Exploration & Evaluation (net)
-250
-10
-5
3
5
-257
Other
-655
-158
-24
91
1
-28
42
190
-541
Total
-881
410
-120
128
-55
-25
-55
-228
-826
Other operations include our 100% interest in the Gove alumina refinery (under rehabilitation), Rio
Tinto Marine, and the remaining legacy liabilities of Rio Tinto Coal Australia. These include
provisions for onerous contracts, in relation to rail infrastructure capacity, partly offset by financial
assets and receivables relating to contingent royalties and disposal proceeds. From 1 January
2021, Uranium moved from Minerals to Other operations. From 1 January 2021, Argyle closure is
reported as part of Other Operations.
We have a strong portfolio of exploration projects with activity in 18 countries across seven
commodities in early exploration and studies stages, reflected in our pre-tax central spend of $257
million. All projects have followed government COVID-19 requirements, while focusing on
protecting the wellbeing and health of local communities.
-
Other: inter-segment transactions, central costs (pensions, share-based payments, insurance
and derivatives), restructuring, project and one-off costs
Pre-tax central pension costs, share-based payments, insurance and derivatives were a $110
million credit compared with a $117 million credit in 2020, mainly due to higher insurance
recoveries in 2021 combined with slightly lower claims than in 2020, offset by derivative losses in
2021 of $97 million compared to gains of $45 million in 2020.
On a pre-tax basis, restructuring, project and one-off central costs were 40% lower than 2020
mainly due to lower central provisions for closure costs.
Other central costs of $613 million were 12% higher than in 2020 driven by stronger local
currencies and inflation, along with increased costs associated with progressing our Communities
and Social Performance and ESG objectives.
Rio Tinto
©2022, Rio Tinto, All Rights Reserved
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