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Principal associates (Tables)
 12 Months Ended
Dec. 31, 2020
Disclosure of associates [abstract]  
Summary of principal associates
At 31 December 2020
Company and country of incorporation/operation
Principal activitiesNumber of
shares held		Class of
shares held		Proportion
of class
held (%)		Group
interest
(%)
Australia
Boyne Smelters Limited(a)
Aluminium smelting
153,679,560 Ordinary59.4 59.4 
Brazil
Mineração Rio do Norte S.A.(b)
Bauxite mining25,000,000,000 Ordinary12.5 12 
47,000,000,000 Preferred11.75 
US
Halco (Mining) Inc.(c)
Bauxite mining4,500 Common45 45 

This list includes only those associates that have a more significant impact on the profit or operating assets of the Group. Refer to note 44 for a list of related undertakings.
The Group’s principal associates are held by intermediate holding companies and not directly by Rio Tinto plc or Rio Tinto Limited.
(a)The parties that collectively control Boyne Smelters Limited do so through decisions that are determined on an aggregate voting interest that can be achieved by several combinations of the parties. Although each combination requires Rio Tinto’s approval, this is not joint control as defined under IFRS 11. Rio Tinto is therefore determined to have significant influence over this company.
(b)Although the Group holds only 12% of Mineração Rio do Norte S.A., it has representation on its board of directors and a consequent ability to participate in the financial and operating policy decisions. It is therefore determined that Rio Tinto has significant influence.
(c)Halco (Mining) Inc. has a 51% indirect interest in Compagnie des Bauxites de Guinée, a bauxite mine, the core assets of which are located in Guinea.

Summary information for associates that are material to the Group
This summarised financial information is shown on a 100% basis. It represents the amounts shown in the associate’s financial statements prepared in accordance with IFRS under Group accounting policies, including fair value adjustments and amounts due to and from Rio Tinto.
Boyne Smelters Limited(a)
2020
US$m
Boyne Smelters Limited(a)
2019
US$m
Revenue— — 
Loss after tax(b)
(198)(7)
Other comprehensive income/(loss)(c)
30 (3)
Total comprehensive loss(168)(10)
Non-current assets1,037 1,229 
Current assets98 96 
Current liabilities(146)(114)
Non-current liabilities(779)(814)
Net assets210 397 
Reconciliation of financial information for principal associates by carrying value
Reconciliation of the above amount to the investment recognised in the Group balance sheet
Group interest59.4%59.4%
Net assets210 397 
Group's ownership interest125 236 
Loans to equity accounted units112 113 
Carrying value of Group's interest237 349 

(a)Boyne Smelters Limited is a tolling operation; as such it is dependent on its participants for funding which is provided through cash calls. Rio Tinto has made certain prepayments to Boyne for toll processing of alumina. These are charged to Group operating costs as processing takes place.
(b)In 2020, includes US$200 million of impairment changes. Refer to note 6.
(c)"Other comprehensive income/(loss)” is net of amounts recognised by subsidiaries in relation to quasi equity loans.
Summary information for joint ventures and associates that are not individually material to the group
Summary information for joint ventures and associates that are not individually material to the Group

Associates
2020
US$m
Associates
2019
US$m
Carrying value of Group's interest708 704 

Profit after tax
— 3 
Other comprehensive income
(5)10 
Total comprehensive income
(5)13