Rio Tinto to discuss ongoing initiatives to fulfil the ambitious decarbonisation goals at the investor seminar

At the investor seminar organised by Rio Tinto, the global mining and metal giant will be sharing the status of its long-term plan to strengthen the company, expand in a decarbonising world, and continue to provide shareholders with competitive returns.

Executives will also discuss ongoing initiatives to fulfil the ambitious decarbonization goals of halving Scope 1 & 2 emissions by 2030 and achieving net zero emissions by 2050. Among these are six effective programs to reduce emissions that emphasize using renewable energy, process heat, diesel, and the ELYSISTM zero-carbon aluminium smelting technology to achieve net zero emissions by 2050, using superior nature-based solutions. Between 2022 and 2030, investments totalling around $7.5 billion are anticipated, of which about $1.5 billion will be back-end-dated over the following three years.

“We are now creating real momentum, to build a stronger Rio Tinto that is a platform for delivering long-term value. From evolving our culture, to operational improvements, a different approach on cultural heritage, and technology breakthroughs to address climate change and a changing customer environment, we are seeing early results that give us conviction we have the right objectives, the right team, and the right strategy. This is all captured in our newly defined purpose: finding better ways to provide the materials the world needs,” said Rio Tinto Chief Executive Jakob Stausholm.

Investments are being prioritised and spread out in the most rational manner possible, considering short-term work involving energy inputs and alluring economics. The aluminium industry will need new, long-term power contracts to reach its goals. In addition to research and development investment, incremental operations spending on establishing new teams and energy efficiency programmes remain in the neighbourhood of $200 million annually.

“The quality of our assets, resilience of cashflows and strength of our balance sheet ensure we are well positioned to continue to invest with discipline for the long term and deliver attractive returns to our shareholders throughout the cycle,” added Jakob Stausholm.