Grupo Rio Tinto (RIO): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Rio Tinto Group, una potencia minera global, transforma la Tierra en bruto en recursos críticos que alimentan la civilización moderna. Al navegar estratégicamente por los paisajes geológicos complejos y las fronteras tecnológicas, esta corporación multinacional ofrece minerales esenciales a industrias que van desde la fabricación de acero hasta la energía renovable. Su sofisticado lienzo de modelo de negocio revela un enfoque meticulosamente elaborado que equilibra la innovación tecnológica, las prácticas sostenibles y las asociaciones globales estratégicas, posicionando a Rio Tinto como un jugador fundamental en el ecosistema de extracción de recursos globales.

Rio Tinto Group (RIO) - Modelo de negocios: asociaciones clave

Alianzas estratégicas con fabricantes de equipos mineros

Rio Tinto colabora con fabricantes de equipos clave para mejorar la eficiencia operativa:

Pareja	Tipo de equipo	Valor de inversión
Oruga	Camiones de transporte autónomos	$ 295 millones (2023)
Komatsu	Equipo minero automatizado	$ 214 millones (2023)

Empresas conjuntas con gobiernos locales

Las asociaciones regionales estratégicas de Rio Tinto incluyen:

• Ventura conjunta con el gobierno de Mongolia en la mina Oyu Tolgoi de cobre-oro
• Asociación con el gobierno australiano en operaciones de mineral de hierro de Pilbara
• Colaboración con provincias canadienses en aluminio y extracción mineral

Socios tecnológicos para la innovación minera

Inversiones de colaboración tecnológica:

Pareja	Enfoque tecnológico	Inversión anual de I + D
IBM	AI y aprendizaje automático	$ 87 millones (2023)
Microsoft	Computación en la nube	$ 62 millones (2023)

Instituciones de sostenibilidad e investigación ambiental

Detalles de la asociación ambiental:

• Asociación con CSIRO (Australia) para tecnologías de reducción de carbono
• Colaboración con el MIT para la investigación minera sostenible
• Investigación conjunta con el Instituto de Recursos Mundiales

Compañías globales de logística y envío

Asociaciones de envío y logística:

Pareja	Tipo de servicio	Valor anual del contrato
Maersk	Logística de envío global	$ 412 millones (2023)
Envío de valores	Transporte de carga a granel	$ 276 millones (2023)

Rio Tinto Group (RIO) - Modelo de negocio: actividades clave

Exploración y extracción de minerales

Rio Tinto opera en 35 países con 16 activos mineros principales. En 2023, el gasto total de exploración mineral de la compañía fue de $ 438 millones. Las regiones de exploración clave incluyen:

Región	Gasto de exploración	Minerales primarios
Australia	$ 247 millones	Mineral de hierro, cobre, oro
América del norte	$ 112 millones	Cobre, molibdeno
África	$ 79 millones	Diamantes, aluminio

Operaciones mineras en múltiples continentes

Rio Tinto administra 16 operaciones mineras importantes a nivel mundial con una fuerza laboral de 49,700 empleados a partir de 2023.

• Producción de mineral de hierro: 325 millones de toneladas anuales
• Producción de aluminio: 3.3 millones de toneladas anuales
• Producción de cobre: ​​453,900 toneladas anuales
• Producción de dióxido de titanio: 700,000 toneladas anuales

Desarrollo de tecnología minera sostenible

Rio Tinto invirtió $ 1.2 mil millones en iniciativas tecnológicas de innovación y sostenibilidad en 2023. Las inversiones tecnológicas clave incluyen:

Tecnología	Inversión	Reducción esperada de CO2
Camiones de transporte autónomos	$ 387 millones	20% de reducción del consumo de diesel
Infraestructura de energía renovable	$ 524 millones	35% de reducción de emisiones de carbono

Procesamiento y refinación de recursos

Rio Tinto opera 24 instalaciones de procesamiento y refinación en 8 países. Detalles de la capacidad de procesamiento:

• Procesamiento de mineral de hierro: 360 millones de toneladas por año
• Refinación de aluminio: 3.5 millones de toneladas por año
• Procesamiento de concentrados de cobre: ​​500,000 toneladas por año

Comercio y distribución de minerales globales

Operaciones comerciales globales de Rio Tinto en 2023:

Mineral	Volumen comercial anual	Mercados de exportación primarios
Mineral de hierro	325 millones de toneladas	China, Japón, Corea del Sur
Aluminio	3.3 millones de toneladas	Estados Unidos, Alemania, China
Cobre	453,900 toneladas	China, Japón, Corea del Sur

Rio Tinto Group (RIO) - Modelo de negocios: recursos clave

Extensos derechos de exploración mineral y tenencias de tierras

Rio Tinto posee derechos de exploración mineral en múltiples continentes, con tenencias específicas de tierras a partir de 2024:

Región	Área terrestre total (hectáreas)	Permisos de exploración
Australia	3,752,000	127
Canadá	1,824,500	89
Mongolia	1,658,200	43

Equipos y tecnología de minería avanzada

Las inversiones tecnológicas de Rio Tinto incluyen:

• Camiones de transporte autónomo: 229 unidades
• Sistemas de perforación automatizados: 78 unidades
• Centros de operaciones remotas: 3 ubicaciones globales

Fuerza laboral calificada con experiencia geológica especializada

Composición de la fuerza laboral en 2024:

Categoría de empleado	Número total	Geólogos especializados
Total de empleados	49,700	1,837

Capital financiero fuerte

Recursos financieros a partir de 2024:

• Activos totales: $ 119.4 mil millones
• Inversiones en efectivo y líquidos: $ 8.2 mil millones
• Gastos de capital anuales: $ 6.7 mil millones

Cartera de recursos minerales diversos

Mineral	Producción anual	Cuota de mercado global
Mineral de hierro	327 millones de toneladas	16%
Aluminio	3.1 millones de toneladas	7%
Cobre	522,000 toneladas	4%

Rio Tinto Group (RIO) - Modelo de negocio: propuestas de valor

Minerales y metales de alta calidad y de origen sostenible

Rio Tinto produjo 327 millones de toneladas de mineral de hierro en 2022. La producción de cobre alcanzó 457,800 toneladas en el mismo año. La producción de aluminio fue de 3.9 millones de toneladas en 2022.

Mineral/metal	Volumen de producción (2022)	Mercados clave
Mineral de hierro	327 millones de toneladas	China, Japón, Corea del Sur
Cobre	457,800 toneladas	Mercados industriales globales
Aluminio	3.9 millones de toneladas	Automotriz, embalaje, construcción

Compromiso con la responsabilidad ambiental y social

Rio Tinto invirtió $ 1.1 mil millones en estrategias de mitigación del cambio climático en 2022. Objetivo de reducción de emisiones de carbono: 50% para 2030.

• Inversiones de energía renovable: $ 350 millones
• Programas de desarrollo comunitario: $ 180 millones
• Iniciativas de compromiso indígenas: $ 75 millones

Cadena de suministro global confiable para materiales industriales críticos

Rio Tinto opera en 35 países con 16 operaciones mineras importantes. La eficiencia de la cadena de suministro calificada con una confiabilidad del 92% en 2022.

Región	Número de operaciones	Recursos clave
Australia	8	Mineral de hierro, aluminio, cobre
América del norte	4	Cobre, molibdeno
África	3	Diamantes, minerales

Innovación tecnológica en eficiencia minera

Inversión en I + D de $ 420 millones en 2022. Implementó 37 tecnologías mineras autónomas en todas las operaciones.

• Camiones de transporte autónomo: 23% de la flota
• Tecnologías de exploración impulsadas por IA
• Plataformas de análisis de datos avanzados

Desarrollo de recursos estratégicos a largo plazo

Gasto total de capital de $ 6.7 mil millones en 2022 para el desarrollo futuro de recursos. Persalización del proyecto estratégico valorada en $ 12.3 mil millones.

Categoría de proyecto	Inversión	Finalización esperada
Expansión de cobre	$ 3.4 mil millones	2025-2027
Infraestructura de mineral de hierro	$ 2.1 mil millones	2024
Integración de energía renovable	$ 1.2 mil millones	2026

Rio Tinto Group (RIO) - Modelo de negocios: relaciones con los clientes

Contratos a largo plazo con fabricantes industriales

Rio Tinto mantiene acuerdos estratégicos de suministro a largo plazo con clientes industriales clave en múltiples sectores:

Segmento de clientes	Duración del contrato	Volumen anual
Fabricación de acero	10-15 años	45.2 millones de toneladas métricas de mineral de hierro
Industria de aluminio	7-12 años	3.1 millones de toneladas métricas de bauxita

Gestión de cuentas dedicada para los principales clientes

Rio Tinto emplea estrategias especializadas de gestión de cuentas:

• Gerentes de relaciones dedicadas para los 50 principales clientes globales
• Soluciones de cadena de suministro personalizadas
• Ingresos anuales de los 10 principales clientes: $ 22.3 mil millones

Informes de sostenibilidad transparente

Métricas de comunicación de sostenibilidad de Rio Tinto:

• Informe anual de sostenibilidad publicado desde 2008
• Cobertura de informes de emisiones de carbono: 100%
• Eventos de participación de las partes interesadas: 47 foros globales en 2023

Plataformas digitales para la comunicación del cliente

Plataforma digital	Base de usuarios	Interacciones anuales
Portal de clientes	328 clientes industriales registrados	1,2 millones de interacciones digitales
Sistema de gestión de la cadena de suministro	256 proveedores globales	845,000 transacciones

Compromiso regular con las partes interesadas y las comunidades

Métricas de participación de las partes interesadas:

• Inversión comunitaria: $ 124.5 millones en 2023
• Asociaciones de la comunidad indígena: 22 acuerdos activos
• Tasa de empleo local en regiones operativas: 68%

Rio Tinto Group (RIO) - Modelo de negocios: canales

Equipos de ventas directos

Rio Tinto emplea a 49,700 empleados a nivel mundial a partir de 2023, con equipos de ventas dedicados en múltiples regiones, incluidas Australia, Reino Unido, Estados Unidos y China.

Región	Tamaño del equipo de ventas	Enfoque principal del producto
Australia	18,500 empleados	Mineral de hierro, aluminio
Reino Unido	4.200 empleados	Ventas corporativas, asociaciones estratégicas
Estados Unidos	3.900 empleados	Cobre, minerales

Plataformas de comercio en línea

Rio Tinto utiliza plataformas digitales para el comercio de productos básicos y la participación del cliente.

• La plataforma digital de Rio Tinto maneja aproximadamente $ 43.7 mil millones en transacciones anuales de productos básicos
• La plataforma en línea cubre el 87% de las ventas globales de minerales
• El volumen de transacción digital aumentó un 22% de 2022 a 2023

Conferencias y exposiciones de la industria

Rio Tinto participa en 42 conferencias internacionales de minería y metales importantes anualmente.

Tipo de conferencia	Participación anual	Negocio estimado generado
Conferencias mineras globales	18 conferencias	$ 2.1 mil millones posibles acuerdos
Exposiciones comerciales de metales	24 exposiciones	$ 1.6 mil millones de contratos potenciales

Marketing digital y comunicaciones corporativas

Rio Tinto mantiene estrategias de comunicación digital robustas.

• Seguidores de LinkedIn: 245,000
• Seguidores de Twitter: 95,000
• Presupuesto anual de marketing digital: $ 37.5 millones
• Tráfico del sitio web: 1.2 millones de visitantes únicos por mes

Redes de asociación estratégica

Rio Tinto mantiene asociaciones estratégicas en múltiples sectores.

Tipo de asociación	Número de socios	Valor de colaboración anual
Empresas de tecnología minera	28 asociaciones	$ 512 millones
Instituciones de investigación	16 colaboraciones	$ 87 millones
Socios de desarrollo sostenible	12 asociaciones	$ 214 millones

Rio Tinto Group (RIO) - Modelo de negocios: segmentos de clientes

Industrias de fabricación de acero

Rio Tinto suministra mineral de hierro a los fabricantes de acero global con las siguientes métricas clave:

Región de clientes	Suministro anual de mineral de hierro (millones de toneladas)	Cuota de mercado
Porcelana	333.1	22.4%
Japón	54.7	8.6%
Corea del Sur	41.3	6.5%

Compañías de construcción e infraestructura

Rio Tinto proporciona aluminio y cobre para proyectos de infraestructura:

• Producción de aluminio: 3.3 millones de toneladas anuales
• Producción de cobre: ​​653,900 toneladas en 2023

Fabricantes automotrices y de transporte

Material	Suministro anual (toneladas)	Mercados automotrices clave
Aluminio	1.7 millones	Alemania, EE. UU., Japón
Cobre	298,500	Fabricantes de vehículos eléctricos

Fabricantes de electrónica y tecnología

Rio Tinto suministra minerales críticos para el sector tecnológico:

• Titanium Mineral Production: 700,000 toneladas
• Suministro de minerales de tierras raras: 45,000 toneladas

Sector de energía renovable

Mineral	Producción anual	Solicitud de energía renovable
Litio	548,000 toneladas	Almacenamiento de la batería
Cobre	653,900 toneladas	Infraestructura solar e eólica

Rio Tinto Group (RIO) - Modelo de negocio: Estructura de costos

Alto gasto de capital por infraestructura minera

En 2022, el gasto total de capital de Río Tinto fue de USD 7.1 mil millones, con importantes inversiones en infraestructura minera en múltiples continentes.

Categoría de infraestructura	Monto de inversión (USD)
Operaciones de mineral de hierro de Pilbara	2.400 millones
Proyectos de expansión de cobre	1.300 millones
Modernización de aluminio	0.9 mil millones

Costos operativos de extracción y procesamiento

Los gastos operativos totales de Rio Tinto en 2022 fueron aproximadamente USD 19.3 mil millones.

• Costos de extracción minera: USD 8.7 mil millones
• Gastos de procesamiento y refinación: USD 6.2 mil millones
• Transporte y logística: USD 4.4 mil millones

Inversiones de investigación y desarrollo

Rio Tinto asignó USD 352 millones a iniciativas de investigación y desarrollo en 2022, centrándose en la innovación tecnológica y la eficiencia operativa.

Iniciativas de cumplimiento ambiental y sostenibilidad

Categoría de sostenibilidad	Gasto (USD)
Programas de reducción de emisiones de carbono	475 millones
Remediación ambiental	280 millones
Conservación de la biodiversidad	95 millones

Gastos globales de la fuerza laboral y la gestión del talento

Los costos totales relacionados con los empleados para Río Tinto en 2022 fueron USD 6.8 mil millones.

• Salarios y salarios: USD 5.2 mil millones
• Capacitación y desarrollo: USD 185 millones
• Beneficios de los empleados: USD 1.4 mil millones

Rio Tinto Group (RIO) - Modelo de negocios: flujos de ingresos

Ventas de mineral de hierro

En el año fiscal 2022, los ingresos del mineral de hierro de Río Tinto fueron de $ 33.5 mil millones. Las operaciones de Pilbara en Australia Occidental produjeron 324 millones de toneladas de mineral de hierro durante el mismo período.

Producto	Ingresos anuales	Volumen de producción
Mineral de hierro	$ 33.5 mil millones	324 millones de toneladas

Ingresos de productos de aluminio

El segmento de aluminio de Rio Tinto generó $ 7.5 mil millones en ingresos para 2022. La compañía opera varias fundiciones de aluminio a nivel mundial.

Segmento de aluminio	Ingresos anuales
Ingresos totales de aluminio	$ 7.5 mil millones

Comercio de cobre y minerales

Los ingresos del cobre para Río Tinto alcanzaron los $ 5.2 mil millones en 2022. Las operaciones clave del cobre incluyen:

• Oyu tolgoi mina en mongolia
• Mina Kennecott en Utah, Estados Unidos
• Mina de Escondida en Chile

Mineral	Ingresos anuales	Minas de producción clave
Cobre	$ 5.2 mil millones	3 minas primarias

Procesamiento de metales y productos de valor agregado

Los metales procesados ​​de Rio Tinto y los productos de valor agregado generaron aproximadamente $ 2.8 mil millones en ingresos adicionales durante 2022.

Contratos de suministro a largo plazo

Los contratos de suministro industrial global contribuyeron con $ 4.6 mil millones a los ingresos totales de Rio Tinto en 2022, con contratos significativos en:

• Fabricación de acero
• Materiales de construcción
• Infraestructura del sector energético

Tipo de contrato	Contribución anual de ingresos
Contratos industriales a largo plazo	$ 4.6 mil millones

Rio Tinto Group (RIO) - Canvas Business Model: Value Propositions

You're looking at the core value Rio Tinto Group delivers to its customers and shareholders as of late 2025, based on their stated strategic objectives and recent performance metrics. It's about supplying the building blocks for the modern world while focusing on financial discipline.

Reliable, high-volume supply of essential raw materials to global industry.

Rio Tinto Group is focused on being a top-tier supplier, evidenced by their production guidance and growth targets. They expect overall production to grow by 7% in 2025, underpinning a longer-term outlook of 3% compound annual production growth through to 2030. This supply is anchored by major assets like the ramping-up Simandou iron ore mine.

The expected 2025 production volumes for key materials include:

Commodity	2025 Production Guidance	Context/Growth Driver
Copper	860-875 kilotonnes (kt)	Upgraded from prior 780-850 kt guidance
Bauxite	To exceed 61 million tonnes (Mt)	Upgraded from previous 59-61 Mt target
Aluminium	Upper end of 3.25-3.45 million tonnes (Mt) range	Part of the streamlined Aluminium & Lithium division

Strategic focus on 'Energy Transition' metals: Copper and Lithium.

The company is actively shifting its portfolio to align with the global energy transition, with copper seeing a significant guidance upgrade for 2025. The 2025 copper production guidance is now 860-875 kt, with unit costs revised down to 80-100 cents per pound (c/lb). Looking out, Rio Tinto Group has a target of producing 1 million tonnes of copper annually by 2030, and they anticipate copper equivalent production could increase by 20% by 2030. For lithium, they project capacity to reach ~200 ktpa by 2028 from their in-flight projects like Arcadium and Rincon.

Low-carbon/Responsibly sourced metals for green supply chains (e.g., low-carbon aluminum).

Rio Tinto Group is working to lower the carbon intensity of its products. The greenhouse gas emissions intensity of their managed Atlantic Operations smelters is less than one-fifth of the industry average. They are also advancing specific projects to grow this low-carbon footprint. For instance, they are assessing a potential first phase primary aluminum smelter in India targeting 500,000 tonnes per annum, powered by renewable energy. Furthermore, they are expanding recycled aluminum output with 30,000 tonnes of new recycling capacity at their Arvida facility, expected operational by Q4 2025.

Industry-leading shareholder returns via consistent 40-60% payout policy.

Rio Tinto Group maintains a clear framework for returning capital to owners. The dividend policy targets a payout ratio between 40-60% of underlying earnings, on average through the cycle, a policy maintained for nine years. For the first half of 2025, the interim ordinary dividend declared was $2.4 billion, representing a 50% payout. Analysts project a prospective dividend yield for the next 12 months around 5.5%, and based on adjusted earnings, the payout ratio is reported at 64%.

Key financial discipline metrics supporting this include:

• Targeting an A grade credit rating.
• Planned generation of $5-10 billion from project partnerships/asset release.
• Capital expenditure guidance for 2025 is $11 billion.

Operational efficiency: delivering $650 million in annualised productivity benefits.

A key part of the current value proposition is simplifying the business to drive down costs. Rio Tinto Group is targeting $650 million in annualized productivity benefits, with early moves already realizing $370 million in cost savings, and an additional $280 million targeted by the end of Q1 2026. This is tied to a broader goal to lower unit costs by 4% between 2024 and 2030.

Rio Tinto Group (RIO) - Canvas Business Model: Customer Relationships

You're looking at how Rio Tinto Group (RIO) manages the crucial relationships that keep its massive operations running and its future projects funded. Honestly, for a company this size, customer relationships aren't just sales; they are about long-term supply security, social acceptance, and capital alignment.

Dedicated account management for large, long-term industrial contracts

For the big industrial buyers, especially in the transition metals space, the relationship is highly tailored. It's less about a transactional sale and more about securing future supply chains. This is evident in the focus on major project delivery and strategic resource agreements.

Here are some concrete examples of these deep customer/partner engagements as of late 2025:

• Secured two new agreements in Chile with Codelco and ENAMI to enrich the lithium pipeline.
• Accelerated the first shipment from the Simandou iron ore project to around November 2025.
• Engaging with several potential customers in the U.S. to support the domestic copper supply chain using the new Nuton® Technology.

The development of proprietary technology like Nuton® is a direct play to secure future customer relationships by offering a cleaner product; the copper produced is anticipated to have a mine-to-metal carbon footprint of 0.82-kilogram CO₂-e per kilogram copper, the lowest in the U.S.

Direct engagement with governments and local communities for social license to operate

Social license is non-negotiable; without community and government support, projects stall. Rio Tinto Group is formalizing these relationships with specific, measurable targets, though you'll notice some targets have been extended, which is common in large-scale operations.

The company has a set of Communities and Social Performance (CSP) targets, now extended to conclude in 2027. Key relationship milestones and metrics include:

Relationship Focus Area	Target/Metric	Status/Date
Cultural Heritage Co-management	All sites to co-manage cultural heritage with communities and knowledge holders	By 2027
Strategic Social Investment	70% of total community investment through strategic, outcomes-focused partnerships	By 2027
Local Supplier Spend	Year-on-year percentage increase in contestable spend sourced from local suppliers	Sourced 14.75% in 2024 (down from 16.80% in 2023)
Indigenous Partnership Formalization	Co-management agreement signed with Puutu Kunti Kurrama and Pinikura (PKKP)	May 2025

Also, government engagement is critical for project progression; for instance, the Brockman Syncline 1 & Hope Downs 2 iron ore projects received all necessary State and Federal Government approvals by June 2025. It's defintely a tightrope walk between development and local consent.

Investor relations focused on transparency and capital discipline

For investors, the relationship is built on a clear capital framework designed to deliver predictable returns, even when commodity prices are volatile. The focus is on financial discipline and returning capital, which is a direct message to the market.

Here's the quick math on their capital discipline framework announced in late 2025:

• Shareholder Returns Policy: Paying 40% to 60% of underlying earnings.
• Asset Base Cash Release Target: Opportunistic release of $5 billion to $10 billion.
• Mid-term Capital Expenditure (CapEx) Guidance (post-2027): Expected to decline to less than $10 billion.
• Credit Rating Focus: Maintaining a single A grade credit rating.
• Investment Hurdle: Projects must exceed WACC (estimated at 6-8%) by typically 300-500 basis points.

Financial performance underpins this: Underlying EBITDA for H1 2025 was $11.5 billion, with net earnings attributable to owners of $4.5 billion. Plus, they delivered $650 million in annualized productivity benefits in the first three months of the new strategy.

Collaborative partnerships with customers on decarbonisation pathways

Since Scope 3 emissions-largely from customers using their products, especially steel-are the largest part of their footprint, collaboration is key. Rio Tinto Group is actively working with customers and suppliers to lower these downstream emissions.

Scope 3 emissions from steelmaking were a massive 395.9 MtCO2e in 2024, representing 69% of the company's total emissions footprint. To tackle this, they are partnering across the value chain:

• Supplier Engagement: Actively partnering with 50 of its highest-emitting suppliers to improve energy efficiency.
• Steel Decarbonisation Spend: Committed $200 million to $350 million between 2025-2027 in steel decarbonization initiatives.
• Green Iron Pilot: Announced plans to invest more than A$35 million in a green iron demonstration plant (ZestyTM) in Kwinana in late 2025.
• Aluminium Partnership: Partnering with Hydro, expecting to invest approximately USD 45 million over five years to assess carbon capture for smelters.
• Operational Progress: H1 2025 Scope 1 & 2 emissions were 15.6 Mt CO2e, a 14% reduction versus the 2018 baseline, supporting the 2030 target of a 50% reduction.

In the Pilbara, they are working with BHP and Caterpillar to test battery-electric haul trucks, showing that industry-wide collaboration is necessary to move away from diesel. Finance: review the CapEx allocation for the $1 billion to $2 billion decarbonization capital estimate for 2025-2027.

Rio Tinto Group (RIO) - Canvas Business Model: Channels

You're looking at how Rio Tinto Group moves its massive output from mine to customer, which is all about scale and logistics in late 2025. The company's consolidated sales revenue for the full year 2024 was $53,658 million.

Direct sales and long-term supply agreements with global industrial customers

Rio Tinto Group relies heavily on securing volumes through agreements with major industrial users globally. The structure of these sales dictates pricing mechanisms and volume certainty. For instance, in the second quarter of 2025, 9% of sales were priced by reference to the prior quarter's average index lagged by one month.

The sales terms show a mix of delivery arrangements:

• 24% of second quarter sales were made on a free on board (FOB) basis.
• The remainder of sales included freight costs.
• For iron ore, realised pricing in 2024 was strong at 99% of the index.
• The company projects 7% production growth in 2025, much of which feeds these agreements.

Global shipping and logistics network for bulk commodity transport

Moving millions of tonnes of material requires a dedicated logistics backbone. The company's Q2 2025 portside sales in China reached 7.8 million tonnes, with 96% of that volume being either screened or blended in Chinese ports, showing direct control over the final leg of distribution in a key market.

Shipment performance in Q3 2025 showed Pilbara iron ore shipments at 84.3 million tonnes.

The 2025 production and shipment guidance highlights the scale managed through this channel:

Commodity/Operation	2025 Guidance (Volume)	Notes
Pilbara Iron Ore Shipments	323 million to 338 million tonnes	Steady volume expected in the year ahead.
Simandou Iron Ore Shipments	0.5 to 1.0 Mt expected in 2025	First shipment targeted around November 2025.
Copper Production	860 kt to 875 kt	Upgraded guidance driven by Oyu Tolgoi ramp-up.
Bauxite Production	Exceed previous 59-61 Mt range	Upwards revision to guidance.
Aluminium Production	Upper end of 3.25 Mt to 3.45 Mt range
IOC Production	9.0 Mt to 9.5 Mt	Downgraded from previous 9.7 Mt to 11.4 Mt.

Commodity exchanges (e.g., LME) for pricing and sales of metals like Copper and Aluminium

While much of the bulk commodity sales are contract-based, the pricing for metals like Copper is benchmarked against global exchanges. The market for these metals directly influences realized pricing.

As of December 4, 2025, LME three-month copper futures were quoted at $11,426 a metric ton.

For other sales not indexed or on long-term contracts, the remainder of Rio Tinto Group's Q2 2025 sales were priced on the current quarter average, month average, or the spot market.

Regional sales offices managing local market distribution

Rio Tinto Group uses regional offices to manage localized distribution and market access, particularly in Asia. The focus on the Chinese iron ore market is evident in their portside operations there.

In Q2 2025, Rio Tinto Group's portside sales in China totaled 7.8 million tonnes.

The company's strategic simplification into three core business units-Iron Ore; Copper; and Aluminium & Lithium-as of late 2025 suggests a sharpening of focus for these regional sales teams to align with the most strategically important commodities.

Finance: draft 13-week cash view by Friday.

Rio Tinto Group (RIO) - Canvas Business Model: Customer Segments

You're looking at the core buyers for Rio Tinto Group's output as of late 2025, which is definitely a mix of traditional heavy industry and the new energy transition players.

Global Steel Producers: Primary buyers of iron ore (e.g., China).

This segment remains the bedrock, though the reliance is actively being managed down. For the year ended December 31, 2024, Iron Ore contributed $31.33 billion to consolidated sales revenue, representing 66.3% of the total $47.29 billion revenue reported in one filing. Geographically, Greater China accounted for $30.81 billion, or 61.9% of total revenue in 2024.

Production-wise, Pilbara operations shipped 328.0 million tonnes (Mt) in 2024. Looking ahead, Rio Tinto Group has set its 2026 total iron ore sales guidance at 343 Mt - 366 Mt on a 100% basis. This includes an expected 323-338 Mt from the Pilbara and an initial 5-10 Mt from the Simandou project, which began its first ore loading in October 2025.

Automotive/EV Manufacturers: Key consumers of Lithium and Copper.

This is where Rio Tinto Group is strategically pivoting for long-term growth, targeting a copper production of 1 million tonnes annually by 2030. The company upgraded its 2025 consolidated copper production guidance to 860 kt to 875 kt. This is up from the 2024 consolidated mined copper production of 697 kt. The Oyu Tolgoi mine is a key driver, with output expected to rise more than 50% in 2025.

For lithium, the acquisition of Arcadium Lithium closed in March 2025 for $6.7 billion. The 2026 guidance for Lithium LCE (Lithium Carbonate Equivalent) is set at 61-64 kt.

Here's a quick look at the performance shift:

• Copper division underlying EBITDA surged 69% to $3.10 billion in H1 2025 compared to H1 2024.
• The 2025 copper unit cost guidance was slashed to 80-100 c/lb from 110-130 c/lb.

Construction and Power Infrastructure: Major users of Copper and Aluminium.

Aluminium demand ties directly into infrastructure build-out. For 2024, Aluminium contributed $3.7 billion in underlying EBITDA. The 2026 production guidance for Aluminium is set at the upper end of the 3.25 Mt to 3.45 Mt range.

The customer base for these materials is geographically diverse, though China remains dominant. The breakdown of 2024 revenue by region shows:

Geographic Region	2024 Revenue (US$ Billions)	Percentage of Total Revenue
Greater China	$30.81B	61.9%
United States	$9.01B	18.1%
Japan	$3.47B	7.0%

The United States is a significant customer, accounting for $9.01 billion in 2024 revenue.

Industrial Manufacturers: Buyers of bauxite, alumina, and other industrial minerals.

This segment covers the inputs for various industrial processes. In 2024, the Aluminium segment (which includes bauxite and alumina) generated underlying EBITDA of $3.7 billion. For the year ended December 31, 2024, revenue from Aluminium, Alumina, and Bauxite was $12.99 billion, or 27.5% of total revenue.

Production metrics for 2025 show an upgraded Bauxite production guidance to exceed the previous 59-61 Mt range. The 2026 guidance for Bauxite is 58-61 Mt and Alumina is 7.6 Mt to 8.0 Mt. Industrial Minerals specifically contributed $2.68 billion in revenue, or 5.7% of the total in 2024.

Financial Markets: Shareholders seeking strong, consistent returns.

For investors, the focus is on capital discipline and returns. Rio Tinto Group maintained a policy of returning 40% to 60% of underlying earnings to shareholders over the cycle. For the full year 2024, the ordinary dividend was $6.5 billion, representing a 60% payout.

The first half of 2025 saw an interim ordinary dividend of $2.4 billion, which was a 50% payout. This was based on H1 2025 underlying earnings of $4.8 billion. The company projects EBITDA could rise by as much as 40-50% by 2030 based on long-run consensus prices. Finance: draft 13-week cash view by Friday.

Rio Tinto Group (RIO) - Canvas Business Model: Cost Structure

You're looking at the cost side of Rio Tinto Group's operations as of late 2025. This structure is heavily weighted toward long-term asset ownership and large-scale project execution, which means significant upfront and ongoing fixed commitments.

High fixed costs from owning and operating integrated infrastructure (rail, ports).

The nature of tier-one mining means Rio Tinto Group must maintain extensive, dedicated infrastructure, like the rail networks and port facilities in the Pilbara region, to move massive volumes of product. These assets represent a substantial, relatively fixed cost base, regardless of short-term commodity price fluctuations.

Significant capital expenditure: guidance of approximately $11 billion for 2025.

Capital allocation remains a major cost driver as Rio Tinto Group continues to fund its growth pipeline, particularly in copper and lithium. The guidance for the full year 2025 is firm on this front, though future spending is being tightened.

The capital expenditure outlook shows a clear focus on major projects:

• Guidance for Group capital expenditure in 2025 is approximately $11 billion.
• Guidance for Group capital expenditure in 2026 is also about $11 billion.
• Mid-term capital expenditure guidance (2028+) is set to revert to less than $10 billion annually as major projects complete.
• Growth capital directed in H1 2025 was $1.6 billion.

Operating costs: labor, energy, and maintenance for global mining operations.

Labor, energy for processing and transport, and routine maintenance form the bulk of day-to-day operating expenses. Rio Tinto Group is actively targeting efficiency gains to manage these costs, especially as energy prices fluctuate.

Here's a look at the recent operational cost data and targets:

Cost Metric	Amount / Guidance	Period / Basis
Operating Expenses	$19.78B	Fiscal semester ending June 2025 (H1 2025)
Operational Expenditure (Decarbonization related)	$181 million	H1 2025
Pilbara Iron Ore Unit Cash Costs	$24.30 per ton	H1 2025
Copper Unit Cost Guidance	80 c/lb to 100 c/lb	2025
Targeted Unit Cost Reduction	4% reduction	From 2024 to 2030

The company reported achieving $650 million in annualized productivity gains in the first quarter following its restructuring, with $370 million already realized.

Exploration and evaluation costs: $334 million pre-tax in H1 2025.

Spending on finding new resources is being prioritized toward copper and lithium. The reported expense for the first half of 2025 shows a shift due to capitalization changes at the Rincon project.

• Pre-tax and pre-divestment expenditure on exploration and evaluation charged to the profit and loss account in H1 2025 was $334 million.
• This compares to $487 million in H1 2024.
• Full year 2025 exploration and evaluation expense is expected to be slightly below the guided $1 billion.

Cost of compliance with environmental and regulatory standards.

Compliance costs are material, spanning both ongoing operational environmental spend and significant capital allocated for decarbonization targets, plus costs related to trade policy.

• Tariff-related costs faced by Rio Tinto Group in H1 2025 amounted to $321 million, largely due to US import duties on Canadian aluminium.
• Scope 1 & 2 CO2 emissions in H1 2025 were 15.6 Mt CO2e.
• Capital estimate for decarbonisation to 2030 has been revised to $1 billion to $2 billion.

Finance: draft 13-week cash view by Friday.

Rio Tinto Group (RIO) - Canvas Business Model: Revenue Streams

You're looking at the core ways Rio Tinto Group brings in money, which is heavily weighted toward bulk commodities but clearly shifting, so let's map out the numbers from the first half of 2025.

Iron Ore Sales remain the dominant revenue driver, but the realized price was $\mathbf{13\%}$ lower in H1 2025 compared to the prior period, which pressured earnings in that segment, with underlying EBITDA for Iron Ore dropping $\mathbf{24\%}$. Still, the operational recovery in the Pilbara, despite four cyclones in Q1, was strong. For the full year 2025, Pilbara iron ore shipment guidance remains in the range of $\mathbf{323-338 \text{ million mt}}$ on a 100 per cent basis, expected toward the lower end of that range.

The revenue stability seen in H1 2025, with consolidated sales revenue at $\mathbf{\$26.873 \text{ billion}}$, is a direct result of the increasing contribution from other areas, showing the diversification strategy is working.

Here's a snapshot of how the key commodity segments performed in H1 2025 relative to their underlying EBITDA contribution and 2025 outlook:

Commodity Segment	H1 2025 Underlying EBITDA Change (YoY)	2025 Production Guidance Status/Range
Iron Ore	Down $\mathbf{24\%}$	Shipments towards lower end of $\mathbf{323-338 \text{ Mt}}$
Copper	Up $\mathbf{69\%}$	Upgraded to $\mathbf{860-875 \text{ thousand tonnes}}$
Aluminium	Up $\mathbf{50\%}$	Expected at upper end of $\mathbf{3.25-3.45 \text{ million tonnes}}$

Copper Sales are a growing part of the revenue mix. The company upgraded its 2025 copper production guidance to a range of $\mathbf{860,000 \text{ to } 875,000 \text{ tonnes}}$. This segment saw a $\mathbf{69\%}$ rise in underlying EBITDA for the half. Furthermore, the unit cost guidance for copper was revised down to $\mathbf{80-100 \text{ c/lb}}$ for 2025. Copper equivalent production overall rose $\mathbf{6\%}$ year-on-year.

Aluminium Sales also contributed strongly to the resilient financials, with underlying EBITDA for the segment increasing by $\mathbf{50\%}$ in H1 2025. For the full year 2025, aluminium production is expected to hit the upper end of the $\mathbf{3.25-3.45 \text{ million tonnes}}$ guidance range.

Lithium Sales represent a new, strategic revenue stream following the $\mathbf{\$6.7 \text{ billion}}$ acquisition of Arcadium Lithium in March 2025. The company is ramping up its pipeline, with projections for lithium capacity to reach approximately $\mathbf{200 \text{ ktpa}}$ by 2028.

The overall financial picture from the first half of 2025 included these key figures:

• Consolidated sales revenue was $\mathbf{\$26.873 \text{ billion}}$.
• Underlying EBITDA was $\mathbf{\$11.547 \text{ billion}}$.
• Net cash generated from operating activities was $\mathbf{\$6.924 \text{ billion}}$.
• The interim ordinary dividend declared was $\mathbf{\$2.4 \text{ billion}}$.

Finance: draft 13-week cash view by Friday.