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Other disclosures - (Tables) | 6 Months Ended
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Jun. 30, 2021
Other Disclosures [Abstract] |
Summary of transactions and balances with equity accounted units |
Income statement items | Six months ended 30 June 2021 | Six months ended 30 June 2020
US$m | US$m
Purchases from equity accounted units | (543) | (519)
Sales to equity accounted units | 205 | 119
Cash flow statement items |  |
Dividends from equity accounted units | 726 | 183
Net receipts/(funding) from/of equity accounted units | 28 | (14)
| 30 June 2021 | 31 December 2020
Balance sheet items | US$m | US$m
Investments in equity accounted units(a) | 3,660 | 3,764
Loans to equity accounted units | — | 41
Trade and other receivables: amounts due from equity accounted units(b) | 246 | 251
Trade and other payables: amounts due to equity accounted units | (240) | (241)
(a)Investments in equity accounted units include quasi equity loans. (b)This includes prepayments of tolling charges.
Summary of subsidiaries | This summarised financial information is shown on a 100% basis. It represents the amounts shown in the subsidiaries’ financial statements prepared in accordance with IFRS under Group accounting policies, including fair value adjustments, and before intercompany eliminations
|  |  | Iron Ore Company of Canada | Iron Ore Company of Canada | Turquoise Hill (a)(b)(c) | Turquoise Hill (a)(b)(c)
|  |  | 2021 | 2020 | 2021 | 2020
Income statement summary for six months ended 30 June |  |  | US$m | US$m | US$m | US$m
Revenue |  |  | 1,718 | 1,011 | 844 | 409
Profit/(loss) after tax |  |  | 654 | 257 | 426 | (23)
– attributable to non-controlling interests |  |  | 271 | 106 | 211 | (89)
– attributable to Rio Tinto |  |  | 383 | 151 | 215 | 66
Other comprehensive income/(loss) |  |  | 96 | (91) | 5 | (2)
Total comprehensive income/(loss) |  |  | 750 | 166 | 431 | (25)
|  |  | 30 June 2021 | 31 December 2020 | 30 June 2021 | 31 December 2020
Balance sheet summary as at: |  |  | US$m | US$m | US$m | US$m
Non-current assets |  |  | 2,879 | 2,733 | 11,789 | 10,930
Current assets |  |  | 840 | 670 | 1,033 | 1,496
Current liabilities |  |  | (493) | (462) | (530) | (540)
Non-current liabilities |  |  | (1,034) | (993) | (4,392) | (4,404)
Net assets |  |  | 2,192 | 1,948 | 7,900 | 7,482
– attributable to non-controlling interests |  |  | 907 | 804 | 2,600 | 2,424
– attributable to Rio Tinto |  |  | 1,285 | 1,144 | 5,300 | 5,058
|  |  | 2021 | 2020 | 2021 | 2020
Cash flow statement summary for six months ended 30 June |  |  | US$m | US$m | US$m | US$m
Cash flow from operations |  |  | 964 | 403 | 95 | 29
Dividends paid to non-controlling interests |  |  | (206) | — | — | —
(a)Turquoise Hill Resources Ltd holds a controlling interest in Oyu Tolgoi LLC ("OT"). (b)Under the terms of the project finance facility held by OT, there are certain restrictions on the ability of OT to make shareholder distributions. (c)Since 2011, Turquoise Hill has funded common share investments in OT on behalf of Erdenes Oyu Tolgoi LLC ("Erdenes"). In accordance with the Amended and Restated Shareholders Agreement dated 8 June 2011, such funded amounts earn interest at an effective annual rate of LIBOR plus 6.5% and are repayable to them via a pledge over Erdenes' share of future OT common share dividends. Erdenes also has the right to reduce the outstanding balance by making payments directly to Turquoise Hill. Common share investments funded on behalf of Erdenes are recorded as a reduction to the net carrying value of non-controlling interests. As at 30 June 2021, the cumulative amount of such funding was US$1,399 million (31 December 2020: US$1,378 million), excluding accrued interest of US$877 million (31 December 2020: US$804 million) relating to this funding. Other disclosures (continued) Summary financial information for subsidiaries that have non-controlling interests that are material to the Group (continued)
|  |  |  |  | Robe River Mining Co Pty | Robe River Mining Co Pty | Other companies and eliminations(d) | Other companies and eliminations(d) | Robe River | Robe River
|  |  |  |  | 2021 | 2020 | 2021 | 2020 | 2021 | 2020
Income statement summary for six months ended 30 June |  |  |  |  | US$m | US$m | US$m | US$m | US$m | US$m
Revenue |  |  |  |  | 1,289 | 734 | 1,504 | 851 | 2,793 | 1,585
Profit after tax |  |  |  |  | 752 | 403 | 841 | 424 | 1,593 | 827
– attributable to non-controlling interests |  |  |  |  | 301 | 158 | — | — | 301 | 158
– attributable to Rio Tinto |  |  |  |  | 451 | 245 | 841 | 424 | 1,292 | 669
Other comprehensive loss |  |  |  |  | (80) | (88) | (37) | (38) | (117) | (126)
Total comprehensive income |  |  |  |  | 672 | 315 | 804 | 386 | 1,476 | 701
|  |  |  |  | 30 June 2021 | 31 December 2020 | 30 June 2021 | 31 December 2020 | 30 June 2021 | 31 December 2020
Balance sheet summary as at: |  |  |  |  | US$m | US$m | US$m | US$m | US$m | US$m
Non-current assets |  |  |  |  | 3,535 | 3,452 | 4,238 | 4,247 | 7,773 | 7,699
Current assets |  |  |  |  | 1,134 | 865 | 1,870 | 2,239 | 3,004 | 3,104
Current liabilities |  |  |  |  | (583) | (380) | (339) | (414) | (922) | (794)
Non-current liabilities |  |  |  |  | (424) | (255) | (4,234) | (4,752) | (4,658) | (5,007)
Net assets |  |  |  |  | 3,662 | 3,682 | 1,535 | 1,320 | 5,197 | 5,002
– attributable to non-controlling interests |  |  |  |  | 1,463 | 1,397 | — | — | 1,463 | 1,397
– attributable to Rio Tinto |  |  |  |  | 2,199 | 2,285 | 1,535 | 1,320 | 3,734 | 3,605
|  |  |  |  | 2021 | 2020 | 2021 | 2020 | 2021 | 2020
Cash flow statement summary for six months ended 30 June |  |  |  |  | US$m | US$m | US$m | US$m | US$m | US$m
Cash flow from operations |  |  |  |  | 1,134 | 665 | 1,643 | 1,066 | 2,777 | 1,731
Dividends paid to non-controlling interests |  |  |  |  | (201) | (211) | — | — | (201) | (211)
(d)"Other companies and eliminations" includes North Mining Limited (a wholly-owned subsidiary of the Group which accounts for its interest in Robe River) and goodwill of US$375 million at 30 June 2021 (31 December 2020: US$383 million) that arose on the Group's acquisition of its interest in Robe River.
Summary of principal joint ventures | This summarised financial information is shown on a 100% basis. It represents the amounts shown in the joint ventures’ financial statements prepared in accordance with IFRS under Group accounting policies, including fair value adjustments and amounts due to and from Rio Tinto.
|  | Minera Escondida Ltda(a) | Minera Escondida Ltda(a) |  | Sohar Aluminum Co. L.L.C.(b) | Sohar Aluminum Co. L.L.C.(b) |
|  | 2021 | 2020 |  | 2021 | 2020 |
Income statement summary for six months ended 30 June |  | US$m | US$m |  | US$m | US$m |
Revenue |  | 4,953 | 3,137 |  | 420 | 325 |
Depreciation and amortisation |  | (580) | (797) |  | (60) | (55) |
Other operating costs |  | (1,506) | (1,243) |  | (245) | (225) |
Operating profit |  | 2,867 | 1,097 |  | 115 | 45 |
Finance expense |  | (73) | (70) |  | (10) | (15) |
Income tax |  | (1,034) | (370) |  | (15) | (5) |
Profit after tax |  | 1,760 | 657 |  | 90 | 25 |
Other comprehensive income/(loss) |  | 40 | (27) |  | — | — |
Total comprehensive income |  | 1,800 | 630 |  | 90 | 25 |
|  | 30 June 2021 | 31 December 2020 |  | 30 June 2021 | 31 December 2020 |
Balance sheet summary as at: |  | US$m | US$m |  | US$m | US$m |
Non-current assets |  | 11,710 | 11,833 |  | 1,805 | 1,850 |
Current assets |  | 3,010 | 3,107 |  | 420 | 270 |
Current liabilities |  | (1,777) | (1,813) |  | (150) | (675) |
Non-current liabilities |  | (4,796) | (4,560) |  | (745) | (200) |
Net assets |  | 8,147 | 8,567 |  | 1,330 | 1,245 |
Assets and liabilities above include: |  |  |  |  |  |  |
– cash and cash equivalents |  | 887 | 1,103 |  | 145 | 30 |
– current financial liabilities |  | (577) | (790) |  | (55) | (565) |
– non-current financial liabilities |  | (2,800) | (2,560) |  | (575) | (30) |
|  | 2021 | 2020 |  | 2021 | 2020 |
Cash flow statement summary for six months ended 30 June |  | US$m | US$m |  | US$m | US$m |
Dividends received from joint venture (Rio Tinto share) |  | 720 | 183 |  | — | — |
(a)In addition to its “Investment in equity accounted units”, the Group recognises deferred tax liabilities of US$334 million (31 December 2020: US$358 million) relating to tax that would be payable if the Group's share of the earnings retained in Minera Escondida Ltda were remitted to the Group. (b)Under covenants stipulated in the agreement to Sohar Aluminium Co. L.L.C.'s secured loan facilities, there are certain restrictions on the ability of Sohar Aluminium Co. L.L.C to make shareholder distributions.

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