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Principal joint operations (Tables) | 12 Months Ended
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Dec. 31, 2024
Disclosure of joint operations [abstract] |
Summary of principle joint operations | The Group’s principal joint operations at 31 December 2024 are summarised in the table below.
Company and country of incorporation/operation | Principal activities | Group interest (%)
Australia |  |
Tomago Aluminium Joint Venture | Aluminium smelting | 51.55
Gladstone Power Station Joint Venture | Power generation | 42.13
Hope Downs Joint Venture | Iron ore mining | 50
Western Range Joint Venture(a) | Iron ore mining | 54
Queensland Alumina Limited(b)(c) | Alumina production | 80
Pilbara Iron Arrangements | Infrastructure, corporate and mining services | See other relevant judgements call out box below
Canada |  |
Aluminerie Alouette Inc. | Aluminium production | 40
Pechiney Reynolds Quebec Inc(c)(d) | Aluminium smelting | 50.2
(a)The Group owns a 54% interest in the Western Range Joint Venture (WRJV), an unincorporated arrangement in the Pilbara. The Group recognises its equity share of assets, revenue and expenses relating to this arrangement. Liabilities are recognised at 54% with the exception of the close-down and restoration provision, which is recognised at 100% according to WRJV’s contractual obligations, with a corresponding 46% receivable from China Baowu Group, for the co-owner’s share. (b)Although the Group has an 80% interest in Queensland Alumina Limited, decisions about activities that significantly affect the returns that are generated require agreement of both parties to the joint arrangement, giving rise to joint control. (c)Queensland Alumina Limited and Pechiney Reynolds Quebec Inc. are joint arrangements that are primarily designed for the provision of output to the parties sharing joint control. This indicates that the parties have rights to substantially all the economic benefits of the assets. The liabilities of the arrangements are in substance satisfied by cash flows received from the parties. This dependence indicates that the parties in effect have obligations for the liabilities. It is these facts and circumstances that give rise to the classification of these entities as joint operations. (d)Pechiney Reynolds Quebec Inc., an entity incorporated in the United States, has a 50.1% interest in the Aluminerie de Bécancour, Inc. aluminium smelter, which is located in Canada. As Rio Tinto owns 50.2% of Pechiney Reynolds Quebec Inc our effective ownership of the Bécancour smelter is 25.2%.

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- Definition The disclosure of joint operations. [Refer: Total for all joint operations [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2024-01-01 -Paragraph B4 -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2024-en-r&anchor=para_B4_c&doctype=Appendix&subtype=B -URIDate 2024-03-27 + Details
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