Borrowings and other financial liabilities (Tables)

12 Months Ended

Dec. 31, 2018

Borrowings And Other Financial Liabilities [Abstract]

			Non-current		Current		Total		Non-current		Current		Total
				2018		2018		2018		2017		2017		2017
Borrowings at 31 December	Note		US$m		US$m		US$m		US$m		US$m		US$m
Rio Tinto Finance plc Euro Bonds 2.0% due 2020^{(a) (b)}				468		-		468		921		-		921
Rio Tinto Finance (USA) Limited Bonds 4.125% 2021^(a)				-		-		-		428		-		428
Rio Tinto Finance (USA) Limited Bonds 3.750% 2021^(a)				-		-		-		347		-		347
Rio Tinto Finance (USA) plc Bonds 3.5% 2022^(a)				-		-		-		227		-		227
Rio Tinto Finance (USA) plc Bonds 2.875% 2022^(a)				-		-		-		377		-		377
Rio Tinto Finance plc Euro Bonds 2.875% due 2024^{(a) (b)}				514		-		514		644		-		644
Rio Tinto Finance (USA) Limited Bonds 3.75% 2025^(a)				1,170		-		1,170		1,192		-		1,192
Rio Tinto Finance (USA) Limited Bonds 7.125% 2028^(a)				927		-		927		965		-		965
Alcan Inc. Debentures 7.25% due 2028				104		-		104		105		-		105
Rio Tinto Finance plc Sterling Bonds 4.0% due 2029 ^{(a) (b)}				633		-		633		669		-		669
Alcan Inc. Debentures 7.25% due 2031				421		-		421		422		-		422
Alcan Inc. Global Notes 6.125% due 2033				741		-		741		740		-		740
Alcan Inc. Global Notes 5.75% due 2035				288		-		288		287		-		287
Rio Tinto Finance (USA) Limited Bonds 5.2% 2040^(a)				1,095		-		1,095		1,102		-		1,102
Rio Tinto Finance (USA) plc Bonds 4.75% 2042^(a)				462		-		462		467		-		467
Rio Tinto Finance (USA) plc Bonds 4.125% 2042^(a)				685		-		685		691		-		691
Oyu Tolgoi LLC MIGA Insured Loan LIBOR plus 2.65% due 2027^(c)				676		-		676		674		-		674
Oyu Tolgoi LLC Commercial Banks "B Loan" LIBOR plus 3.4% due 2027 ^(c)				1,588		-		1,588		1,588		-		1,588
Oyu Tolgoi LLC Export Credit Agencies Loan 2.3% due 2028^(c)				272		-		272		255		-		255
Oyu Tolgoi LLC Export Credit Agencies Loan LIBOR plus 3.65% due 2029^(c)				871		-		871		869		-		869
Oyu Tolgoi LLC International Financial Institutions "A Loan" LIBOR plus 3.78% due 2030^(c)				768		-		768		761		-		761
Loans from equity accounted units				-		-		-		-		31		31
Other secured loans				345		42		387		451		79		530
Other unsecured loans				373		264		637		393		435		828
Finance leases		23		39		5		44		49		4		53
Bank overdrafts		21		-		1		1		-		3		3
Total borrowings including overdrafts^(d)				12,440		312		12,752		14,624		552		15,176

(a)	These borrowings are subject to the hedging arrangements summarised below. Fair value hedge accounting has been applied except for the Rio Tinto Finance plc Sterling Bonds 4.0% due 2029 which has cash flow hedge accounting applied.

(b)

Rio Tinto has a US$10 billion (2017: US$10 billion) European Debt Issuance Programme against which the cumulative amount utilised was US$1.6 billion equivalent at 31 December 2018 (2017: US$2.2 billion). The carrying value of these bonds after hedge accounting adjustments amounted to US$1.6 billion (2017: US$ 2.2 billion) in aggregate.

(c)

These borrowings relate to the Oyu Tolgoi LLC project finance facility. The project finance facility provides for interest-only payments for the first five years followed by minimum repayments according to a stepped amortisation schedule for the remaining life of the facility. The due dates stated represent the final repayment date. The interest rates stated are pre-completion and will increase by 1% post-completion.

(d)

The Group’s borrowings of US$12.8 billion (2017: US$15.2 billion) include US$2.4 billion (2017: US$2.7 billion) which relates to subsidiary entity borrowings that are without recourse to the Group, and US$4.6 billion (2017: US$4.7 billion) which is subject to various financial and general covenants with which the respective borrowers were in compliance as at 31 December 2018.

Summary of borrowings and other financial liabilities

	Non-current		Current		Total		Non-current		Current		Total
		2018		2018		2018		2017		2017		2017
Other financial liabilities	US$m		US$m		US$m		US$m		US$m		US$m
Derivative financial instruments		407		95		502		481		50		531
Other financial liabilities		-		666		666		43		302		345
Total other financial liabilities		407		761		1,168		524		352		876
Total borrowings including overdrafts (as above)		12,440		312		12,752		14,624		552		15,176
Total borrowings and other financial liabilities		12,847		1,073		13,920		15,148		904		16,052