EX-99.7 8 ex07d21minresources.htm EX-99.7
1 Notice to ASX/LSE Mineral Resources and Ore Reserves updates 21 February 2024 Rio Tinto has today announced to the Australian Securities Exchange (ASX) changes in Mineral Resources and Ore Reserves to support its 2023 annual reporting1, including: • Decreased Mineral Resources at the Rio Tinto Kennecott (RTK) Bingham Canyon open pit deposit in Utah, United States of America. • Increased Ore Reserves and associated decreased Mineral Resources at the Rio Tinto Aluminium (RTA) Pacific Operations Amrun deposit in Queensland, Australia. • Revised classification for the Ore Reserves at the Iron Ore Company of Canada (IOC) operations in Newfoundland and Labrador, Canada. Supporting information relating to the changes of Mineral Resources and Ore Reserves is set out in the Table 1 Release and its appendices. This release provides a summary of those changes. Mineral Resources and Ore Reserves are quoted in this release on a 100 percent basis. Mineral Resources are reported in addition to Ore Reserves. The figures used to calculate Mineral Resources and Ore Reserves are often more precise than the rounded numbers shown in the tables, hence small differences may result if the calculations are repeated using the tabulated figures. These changes will be included in Rio Tinto’s 2023 Annual Report, to be released to the market on 21 February 2024, which will set out in full Rio Tinto’s Mineral Resources and Ore Reserves position as at 31 December 2023, and Rio Tinto’s interests. Rio Tinto Kennecott Mineral Resources and Ore Reserves for the RTK Bingham Canyon open pit are presented in Table A and Table B2. Mineral Resources tonnes have decreased by 21 Mt (22%) as a result of the conversion of the East Wall Extension to Ore Reserves and removal of an opportunity to steepen the South Wall due to geotechnical concerns and changes to economic assumptions. There is an associated increase in Ore Reserves as a result of the East Wall conversion, which has been offset by depletion. 1 These Mineral Resources and Ore Reserves were reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, 2012 (JORC Code) and the ASX Listing Rules in a release to the ASX dated 21 February 2024 titled “Ore Reserve and Mineral Resource updates: supporting information and Table 1 checklists” (Table 1 Release). Rio Tinto confirms that it is not aware of any new information or data that materially affects the information included in the Table 1 Release, that all material assumptions and technical parameters underpinning the estimates in the Table 1 Release continue to apply and have not materially changed, and that the form and context in which the Competent Persons’ findings are presented have not been materially modified. 2 The Competent Persons responsible for the information in the Table 1 Release that relates to Rio Tinto Kennecott Mineral Resources were Pancho Rodriguez and Ana Chiquini, who are Members of the Australasian Institute of Mining and Metallurgy (MAusIMM). The Competent Person responsible for the information in the Table 1 Release that relates to Rio Tinto Kennecott Ore Reserves is Brady Pett (MAusIMM). EXHIBIT 99.7

Notice to ASX/LSE 2 / 6 2 Rio Tinto Aluminium Pacific Operations – Amrun Mineral Resources and Ore Reserves for the RTA Amrun deposit are presented in Table C and Table D3. Mineral Resources exclusive of Ore Reserves have decreased by 55 Mt (7%) at Amrun due to conversion of Mineral Resources to Ore Reserves resulting from a routine review of price assumptions over the life of the mine, and updated orebody knowledge. Ore Reserves have increased by 149 Mt (19%) at Amrun. The increase in Ore Reserves is associated with a routine review of price assumptions over the life of the mine, and updated orebody knowledge. There has been no material change to other modifying factors, including governmental, tenure, environmental, cultural heritage, community or operational. Iron Ore Company of Canada Mineral Resources and Ore Reserves for IOC are presented in Table E and Table F4. The classification of the Ore Reserves has changed as a result of reclassification of a significant proportion of the Proved Ore Reserves to Probable Ore Reserves. The change reflects a lower level of confidence in the modifying factors in areas supported by older data which does not have recovery and grind energy geometallurgical data. 3 The Competent Person responsible for the information in the Table 1 Release that relates to Rio Tinto Aluminium Pacific Operations Mineral Resources is Angus Mc Intyre (MAusIMM). The Competent Person responsible for the information in the Table 1 Release that relates to Rio Tinto Aluminium Pacific Operations Ore Reserves is William Saba (MAusIMM). 4 The Competent Persons responsible for the information in the Table 1 Release that relates to Iron Ore Company of Canada Mineral Resources were Ramsey Way, Mervin McDonald and Beverly Power, who are Members of Professional Engineers and Geoscientists of Newfoundland and Labrador. The Competent Persons responsible for the information in the Table 1 Release that relates to Iron Ore Company of Canada Ore Reserves were Rodney Williams and Stéphane Roche, who are Members of Professional Engineers and Geoscientists of Newfoundland and Labrador.

Notice to ASX/LSE 3 / 6 3 Table A Rio Tinto Kennecott Copper Bingham Canyon open pit Mineral Resources as at 31 December 2023 Likely mining method(1) Measured Mineral Resources Indicated Mineral Resources Total Measured and Indicated Mineral as at 31 December 2023 as at 31 December 2023 Resources as at 31 December 2023 Tonnage Grade Tonnage Grade Tonnage Grade Copper(2) Mt % Cu g/t Au g/t Ag % Mo Mt % Cu g/t Au g/t Ag % Mo Mt % Cu g/t Au g/t Ag % Mo Bingham Canyon (US) - Bingham Open Pit(3) O/P 38 0.47 0.15 2.47 0.020 22 0.39 0.16 2.66 0.016 59 0.44 0.15 2.54 0.018 Inferred Mineral Resources Total Mineral Resources Rio Tinto interest Total Mineral Resources as at 31 December 2023 as at 31 December 2023 as at 31 December 2022 Tonnage Grade Tonnage Grade Tonnage Grade Copper(2) Mt % Cu g/t Au g/t Ag % Mo Mt % Cu g/t Au g/t Ag % Mo % Mt % Cu g/t Au g/t Ag % Mo Bingham Canyon (US) - Bingham Open Pit(3) 12 0.26 0.20 2.56 0.005 72 0.41 0.16 2.55 0.016 100.0 93 0.43 0.15 2.24 0.016 1. Likely mining method: O/P = open pit/surface. 2. Copper Mineral Resources are reported on a dry in situ weight basis. 3. Bingham Canyon Open Pit Mineral Resources molybdenum grades interpolated from exploration drilling assays have been factored based on a long reconciliation history to blast hole and mill samples. Table B Rio Tinto Kennecott Copper Bingham Canyon open pit Ore Reserves as at 31 December 2023 Type of mine(1) Proved Ore Reserves Probable Ore Reserves Total Ore Reserves as at 31 December 2023 as at 31 December 2023 as at 31 December 2023 Tonnage Grade Tonnage Grade Tonnage Grade Copper(2) Mt % Cu g/t Au g/t Ag % Mo Mt % Cu g/t Au g/t Ag % Mo Mt % Cu g/t Au g/t Ag % Mo Bingham Canyon (US) - Bingham Open Pit(3) O/P 470 0.37 0.18 1.98 0.038 360 0.36 0.18 1.98 0.028 829 0.37 0.18 1.98 0.033 Average mill recovery % Rio Tinto interest Rio Tinto share Total Ore Reserves recoverable metal as at 31 December 2022 Tonnage Grade Copper(2) Cu Au Ag Mo % Mt Cu Moz Au Moz Ag Mt Mo Mt % Cu g/t Au g/t Ag % Mo Bingham Canyon (US) - Bingham Open Pit(3) 89 69 71 63 100.0 2.681 3.257 37.686 0.176 880 0.38 0.18 1.97 0.033 1. Type of Mine: O/P = open pit/surface. 2. Copper Ore Reserves are reported as dry mill feed tonnes. 3. Bingham Canyon Open Pit Ore Reserves molybdenum grades interpolated from exploration drilling assays have been factored based on a long reconciliation history to blast hole and mill samples.

Notice to ASX/LSE 4 / 6 4 Table C Rio Tinto Aluminium Pacific Operations Mineral Resources as at 31 December 2023 Likely mining method(1) Measured Mineral Resources Indicated Mineral Resources Total Measured and Indicated Mineral as at 31 December 2023 as at 31 December 2023 Resources as at 31 December 2023 Tonnage Grade Tonnage Grade Tonnage Grade Bauxite Mt % Al2O3 % SiO2 Mt % Al2O3 % SiO2 Mt % Al2O3 % SiO2 Rio Tinto Aluminium (Australia)(2) - Amrun O/P 115 49.2 11.7 388 49.7 11.7 504 49.6 11.7 - East Weipa and Andoom O/P 43 49.9 8.8 - - - 43 49.9 8.8 - Gove O/P 9 48.1 8.9 0.4 47.8 8.9 9 48.1 8.9 - North of Weipa O/P - - - 202 52.0 11.1 202 52.0 11.1 Total (Australia) 167 49.3 10.8 591 50.5 11.5 759 50.2 11.4 Inferred Mineral Resources Total Mineral Resources Rio Tinto interest Total Mineral Resources as at 31 December 2023 as at 31 December 2023 as at 31 December 2022 Tonnage Grade Tonnage Grade Tonnage Grade Bauxite Mt % Al2O3 % SiO2 Mt % Al2O3 % SiO2 % Mt % Al2O3 % SiO2 Rio Tinto Aluminium (Australia)(2) - Amrun 285 51.7 12.1 788 50.4 11.9 100.0 843 50.6 11.8 - East Weipa and Andoom - - - 43 49.9 8.8 100.0 53 49.3 8.5 - Gove 0.01 46.9 8.1 9 48.1 8.9 100.0 13 48.3 9.0 - North of Weipa 1,248 51.8 11.4 1,451 51.9 11.4 100.0 1,330 52.0 11.6 Total (Australia) 1,533 51.8 11.5 2,291 51.3 11.5 2,240 51.4 11.6 1. Likely mining method: O/P = open pit/surface. 2. Rio Tinto Aluminium bauxite Mineral Resources are stated as dry product tonnes and total alumina and silica grades. Table D Rio Tinto Aluminium Pacific Operations Ore Reserves as at 31 December 2023 Type of mine(1) Proved Ore Reserves Probable Ore Reserves Total Ore Reserves as at 31 December 2023 as at 31 December 2023 as at 31 December 2023 Tonnage Grade Tonnage Grade Tonnage Grade Bauxite(2) Mt % Al2O3 % SiO2 Mt % Al2O3 % SiO2 Mt % Al2O3 % SiO2 Rio Tinto Aluminium (Australia)(3) - Amrun O/P 263 53.9 9.2 688 54.5 9.0 950 54.3 9.1 - East Weipa and Andoom O/P 69 50.5 7.9 3 49.5 8.7 72 50.5 8.0 - Gove O/P 57 50.2 6.4 0.7 50.5 5.0 58 50.2 6.4 Total (Australia) 388 52.8 8.6 692 54.4 9.0 1,080 53.8 8.8 Rio Tinto interest Rio Tinto share recoverable mineral Total Ore Reserves as at 31 December 2022 Tonnage Grade Bauxite(2) % Mt Mt % Al2O3 % SiO2 Rio Tinto Aluminium (Australia)(3) - Amrun 100.0 950 801 54.6 8.9 - East Weipa and Andoom 100.0 72 59 51.7 7.1 - Gove 100.0 58 56 50.5 5.8 Total (Australia) 100.0 1,080 916 54.2 8.6 1. Type of Mine: O/P = open pit/surface. 2. Bauxite Ore Reserves are stated as recoverable Ore Reserves of marketable product after accounting for all mining and processing losses. Mill recoveries are therefore not shown. 3. Australian bauxite Ore Reserves are stated as dry tonnes and total alumina and silica grade.

Notice to ASX/LSE 5 / 6 5 Table E Iron Ore Company of Canada Mineral Resources as at 31 December 2023 Likely mining method(1) Measured Mineral Resources Indicated Mineral Resources Total Measured and Indicated Mineral as at 31 December 2023 as at 31 December 2023 Resources as at 31 December 2023 Tonnage Grade Tonnage Grade Tonnage Grade Iron ore(2) Mt % Fe % SiO2 % Al2O3 % P Mt % Fe % SiO2 % Al2O3 % P Mt % Fe % SiO2 % Al2O3 % P Iron Ore Company of Canada (Canada)(3) O/P 171 40.8 35.8 0.2 0.02 720 38.5 37.1 0.2 0.03 891 38.9 36.9 0.2 0.03 Inferred Mineral Resources Total Mineral Resources Rio Tinto interest Total Mineral Resources as at 31 December 2023 as at 31 December 2023 as at 31 December 2022 Tonnage Grade Tonnage Grade Tonnage Grade Iron ore(2) Mt % Fe % SiO2 % Al2O3 % P Mt % Fe % SiO2 % Al2O3 % P % Mt % Fe % SiO2 % Al2O3 % P Iron Ore Company of Canada (Canada)(3) 751 38.2 35.7 0.2 0.03 1,641 38.6 36.3 0.2 0.03 58.7 1,666 38.7 37.4 0.2 0.03 1. Likely mining method: O/P = open pit/surface. 2. Iron ore Mineral Resources are stated on a dry in situ weight basis. 3. The reported Mineral Resources have the potential to produce marketable product (57% pellets and 43% concentrate for sale at a natural moisture content of 2%) comprising 73 million tonnes at 65% iron 2.7% silica (Measured), 301 million tonnes at 65% iron 2.7% silica (Indicated) and 308 million tonnes at 65% iron 2.7% silica (Inferred) using process recovery factors derived from current IOC concentrating and pellet operations. LOI is not determined for resource drilling samples, so no estimate of % LOI is available for Mineral Resources. Table F Iron Ore Company of Canada Ore Reserves as at 31 December 2023 Type of mine(1) Proved Ore reserves Probable Ore Reserves Total Ore Reserves as at 31 December 2023 as at 31 December 2023 as at 31 December 2023 Tonnage Grade Tonnage Grade Tonnage Grade Iron ore(2) Mt % Fe % SiO2 Mt % Fe % SiO2 Mt % Fe % SiO2 Iron Ore Company of Canada (Canada)(3) O/P 149 65.0 2.8 275 65.0 2.8 423 65.0 2.8 Rio Tinto interest Rio Tinto share Total Ore Reserves marketable product as at 31 December 2022 Tonnage Grade Iron ore(2) % Mt Mt % Fe % SiO2 Iron Ore Company of Canada (Canada)(3) 58.7 249 453 65.0 3.0 1. Type of Mine: O/P = open pit/surface. 2. Ore Reserves of iron ore are shown as recoverable Ore Reserves of marketable product after accounting for all mining and processing losses. Mill recoveries are therefore not shown. 3. Iron Ore Company of Canada Ore Reserves are reported as marketable product (57% pellets and 43% concentrate for sale) at a natural moisture content of 2%. The marketable product is derived from mined material comprising 357 million dry tonnes at 38% iron, 36% silica, 0.23% alumina, 0.022% phosphorus (Proved) and 651 million dry tonnes at 38% iron, 35% silica, 0.19% alumina, 0.023% phosphorus (Probable) using process recovery factors derived from current IOC concentrating and pellet operations. No meaningful relationship has been established between the product and feed grades of alumina and phosphorus, so these grades cannot be reported for Ore Reserves. Saleable product is produced to meet silica grade specifications, so the Ore Reserves silica grade is the targeted silica grade for the currently anticipated long-term product mix. Loss on Ignition (LOI) is not determined for resource drilling samples, so no estimate of % LOI is available for Ore Reserves.

Notice to ASX/LSE 6 / 6 6 Contacts Please direct all enquiries to media.enquiries@riotinto.com Media Relations, United Kingdom Matthew Klar M +44 7796 630 637 David Outhwaite M +44 7787 597 493 Media Relations, Australia Matt Chambers M +61 433 525 739 Jesse Riseborough M +61 436 653 412 Alyesha Anderson M +61 434 868 118 Michelle Lee M +61 458 609 322 Media Relations, Americas Simon Letendre M +514 796 4973 Malika Cherry M +1 418 592 7293 Vanessa Damha M +1 514 715 2152 Investor Relations, United Kingdom Menno Sanderse M +44 7825 195 178 David Ovington M +44 7920 010 978 Laura Brooks   M +44 7826 942 797  Investor Relations, Australia Tom Gallop M +61 439 353 948 Amar Jambaa M +61 472 865 948 Rio Tinto plc 6 St James’s Square London SW1Y 4AD United Kingdom T +44 20 7781 2000 Registered in England No. 719885 Rio Tinto Limited Level 43, 120 Collins Street Melbourne 3000 Australia T +61 3 9283 3333 Registered in Australia ABN 96 004 458 404 This announcement is authorised for release to the market by Andy Hodges, Rio Tinto’s Group Company Secretary riotinto.com