HY 2023 Results and Growth Prospects
Decarbonisation abatement programmes
Programme
Pacific Operations
Repower
Description & key sites
Renewables: smelters
Boyne | Tomago
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Funding mechanism
Long-term market contracts
Government partnerships
Example project - economics
Commercial solutions achieved through government partnerships and long-
term contracts
Renewables
Diesel
For personal use only
Alumina process
heat
Mineral processing
Aluminium anodes
Nature-based
Solutions
Solar & wind renewables
Pilbara
Weipa
QMM | Kennecott | RBM
HME & Diesel switching
Ph I: Bio-fuels
Ph II: Fleet electrification
Pilbara | IOC
Electrification of boilers
Process & energy efficiency
H₂ calcination - replacement
Vaudreuil | QAL | Yarwun
New technologies
Electrification of boilers
IOC | RTIT | Borates
ELYSIS™ technology
All smelters
High quality offsets
8 large scale sites
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Capital - build own operate
Long-term market contracts
Capital
Land acquisitions (non-edible feedstock)
HME
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R&D
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Capital
R&D
Capital
Government / industry partnerships
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R&D
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Capital
Capital land acquisitions
Operating costs
Rio Tinto
©2023, Rio Tinto, All Rights Reserved
1At our Boron site due to Californian subsidies
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Assets will need to remain competitive
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Phase 1 - 230MW solar + 200MWh of on-grid battery storage is value
accretive at a carbon price of <$40/t driven by $55m reduction in gas
displacement costs at current prices
Bio-fuels: comparable cost to diesel¹ and de-risking of technical risk in fleet
electrification
Diesel cost savings post fleet electrification
QAL double digestion is value accretive at zero carbon price driven by
reducing bauxite, raw material and energy costs
A subset of projects are value accretive at a carbon price of $50/t to $100/t
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IOC steam plant fuel reduction - 40MW electric boiler conversion is value
accretive at a zero carbon price
The electrification of the boilers will require new commercial renewable
energy contracts as well as capital
Commercial scale technology from 2024
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Value generation through scale-up later
Development costs of high-quality projects on or near our assets are currently
estimated at $20-50/t CO₂e, the range reflects varying project types and
landscapes
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