Rio Tinto, a British-Australian multinational company and the world’s second-largest metals and mining corporation, reported significant achievements in 2023. CEO Jakob Stausholm highlighted a remarkable three per cent boost in copper production and an impressive underlying EBITDA of $23.9 billion. Stressing their dedication to sustainability, Stausholm underscored recent efforts to halve global Scope 1 and 2 carbon emissions, including securing renewable energy contracts for the Gladstone operations.
Stausholm expressed satisfaction with the company’s financial resilience, citing a robust performance with over 3% growth in copper equivalent production. The firm reported underlying EBITDA of $23.9 billion, free cash flow of $7.7 billion, and underlying earnings of $11.8 billion, post-tax and government royalties totalling $8.8 billion.
Bolstered by a strong balance sheet, Rio Tinto remains focused on disciplined investment alongside shareholder returns. Stausholm affirmed the company’s commitment to sustaining attractive dividends while investing in long-term growth, particularly in materials crucial for a decarbonizing world.
In other news, non-executive director Simon McKeon is set to retire on May 2, 2024. Rio Tinto Chair Dominic Barton expressed gratitude for McKeon’s significant contributions, particularly his involvement in the company’s engagement initiatives with the Australian community and cultural reforms.
