Finding better ways to provide the materials the world needs
Purpose & Values
The drive for innovation and continuous improvement is at the heart of our purpose
Business Strategy
Climate change is at the heart of our business strategy
Innovation
Finding better ways to do things is in our DNA
We supply the metals and minerals used to help the world grow and decarbonise
Iron Ore
The primary raw material used to make steel, which is strong, long-lasting and cost-efficient
Lithium
The lightest of all metals, it is a key element needed for low-carbon technologies
Copper
Tough but malleable, corrosion-resistant and recyclable, and an excellent conductor of heat and transmitter of electricity
Bringing to market materials critical to urbanisation and the transition to a low-carbon economy
Oyu Tolgoi
One of the most modern, safe and sustainable operations in the world
Rincon Project
A long-life, low-cost and low-carbon lithium source
Simandou Project
The world’s largest untapped high-grade iron ore deposit
Providing materials the world needs in a responsible way
Climate Change
We’re targeting net zero emissions by 2050
Tailings
Details of our tailings facilities can be found on our interactive tailings disclosure map
Communities
The strength of our relationships with the communities where we operate, and broader society, is fundamental to our business
We aim to deliver superior returns to our shareholders while safeguarding the environment and meeting our obligations to wider society
2024 Half year results
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Things you can't live without
Our podcast discussing what needs to happen to create a sustainable future for the everyday items we have come to rely on
Investment in high integrity ACCUs
While prioritising our decarbonisation programmes, we are investing in high quality carbon credits
Reducing titanium oxide's carbon footprint
Our BlueSmelting technology could drastically reduce carbon emissions during ore processing
Discover more about life at Rio Tinto
Graduates and students
If you want to drive real change, we have just the place to do it
Empowering families with flexibility
Supporting new parents of any gender with equal access to parental leave
Available jobs
Join our team
Rio Tinto chief executive J-S Jacques said "We have reported another strong set of results with underlying EBITDA of $9.2 billion and operating cash flow of $5.2 billion. In a favourable market environment, our Tier 1 assets and strong operational capability have achieved a 43 per cent EBITDA margin. Inflationary pressures are being experienced across the industry, but we have been able to offset these through our mine-to-market productivity programme.
"As a result, we continue to deliver superior shareholder returns with a record interim dividend of $2.2 billion and a $1.0 billion top-up to our existing share buy-back programme. In addition, in 2018 we have announced $5.0 billion of divestments. The board has today approved that these disposal proceeds, net of tax, will be returned to our shareholders, with the precise timing and form to be determined.
"We will continue to invest in Tier 1 growth, further strengthen our portfolio and maintain a strong balance sheet in order to deliver superior returns to shareholders in the short, medium and long term."
Six months to 30 June
2018
2017
Change
Net cash generated from operating activities (US$ millions)
5,228
6,306
-17%
Capital expenditure4 (US$ millions)
2,363
1,758
+34%
Free cash flow3 (US$ millions)
2,883
4,627
-38%
Underlying EBITDA1 (US$ millions)
9,198
9,042
+2%
Underlying earnings1 (US$ millions)
4,416
3,941
+12%
Net earnings (US$ millions)
4,380
3,305
+33%
Underlying earnings1 per share (US cents)
253.6
219.4
+16%
Basic earnings per share (US cents)
251.6
184.0
+37%
Ordinary dividend per share (US cents)
127.0
110.0
+15%
At 30 June 2018
At 31 Dec 2017
Net debt5 (US$ millions)
5,229
3,845
+36%
Net gearing ratio6, 7
10%
7%
The financial results are prepared in accordance with IFRS and are unaudited. 1Underlying EBITDA, underlying earnings and underlying earnings per share are key financial performance indicators which management use internally to assess performance and are referred to as non-GAAP measures. They are presented here to provide greater understanding of the underlying business performance of the Group’s operations. Net and underlying earnings relate to profit attributable to the owners of Rio Tinto. Underlying EBITDA and earnings are defined on page 14. Underlying earnings is reconciled to net earnings on page 72. 2EBITDA margin is defined as Group underlying EBITDA divided by Product Group total revenues as per the Financial Information by Business Unit on page 12 where it is reconciled to profit on ordinary activities before finance items and taxation and consolidated sales revenue. This financial metric is used by management internally to assess performance, and therefore is considered relevant to users of the accounts. 3Free cash flow is defined as Net cash generated from operating activities less Purchases of property, plant and equipment (PP&E) plus Sales of PP&E. It is a key financial indicator which management uses internally to assess performance and is therefore considered relevant to users of the accounts. 4Capital expenditure is presented gross, before taking into account any cash inflows from disposals of property, plant and equipment. 5Net debt is defined and reconciled to the balance sheet on page 44. 6 Net gearing ratio is defined as net debt divided by the sum of net debt and total equity at each period end. 7These financial performance indicators are those which management use internally to assess performance, and therefore are considered relevant to users of the accounts. 8Mine-to-market productivity improvements refer to the additional free cash flow generated from post-tax operating cash cost improvements and post-tax volume gains from productivity programmes. This financial performance indicator is used by management internally to assess performance, and therefore is considered relevant to users of the accounts 9This production target was disclosed in a release to the market on 6 May 2016. All material assumptions underpinning that target continue to apply and have not materially changed.
A comprehensive list of presentation documents is available in Results & reports.
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With the exception of the use of cookies, Rio Tinto generally does not seek to collect personal data through this website. However if you choose to provide personal data to Rio Tinto through this website (for example, by sending us an email), we will process that personal data to answer your query and if relevant, to manage our business relationship with you or your company. We won't process that personal data for other purposes except where required to meet our legal obligations or otherwise as authorised by law and notified to you.
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As some data privacy laws regulate IP addresses and other information collected through the use of cookies as personal data, Rio Tinto’s processing of such personal data needs to comply with its Data Privacy Standard (see Part 1 of our Privacy Policy), and also applicable data privacy laws.
With the exception of the use of cookies (explained below), Rio Tinto generally does not seek to collect personal data through this website. However if you choose to provide personal data to Rio Tinto through this website (for example, by sending us an email), we will process that personal data to answer your query and if relevant, to manage our business relationship with you or your company. We won't process that personal data for other purposes except where required to meet our legal obligations or otherwise as authorised by law and notified to you.
Part 1 of this Privacy Policy contains the Rio Tinto Data Privacy Standard, which provides an overview of Rio Tinto’s approach to personal data processing. There is additional information in the appendices to the Data Privacy Standard, including information about disclosures, trans-border data transfers, the exercise of data subject rights and how to make complaints or obtain further information relating to Rio Tinto’s processing of your personal data.
If you choose to subscribe to our media releases or other communications, you can unsubscribe at any time (by following the instructions in the email or by contacting us at digital.comms@riotinto.com).
With your consent, our website uses cookies to distinguish you from other users of our website. This helps us to provide you with a good experience when you browse our website and also allows us to improve our site.
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As some data privacy laws regulate IP addresses and other information collected through the use of cookies as personal data, Rio Tinto’s processing of such personal data needs to comply with its Data Privacy Standard (see Part 1 of this Privacy Policy), and also applicable data privacy laws.
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