西班牙力拓集团（Rio Tinto Group）分析报告-培训课件外文版2024.6

COMPANIES

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PRODUCTSRioTintoCHAPTER

01OverviewProductionvolumeofusableironoreworldwidefrom2010to2023(inmillionmetrictons)Globalusableironoreproduction2010-20233,0002,5002,0001,5001,000500020102011201220132014201520162017201820192020202120222023*3/statistics/589945/iron-ore-production-gross-weight-worldwideIn2023,thetotalvolumeofusableironoreproducedworldwideamountedtoanestimated2.5billionmetrictons.TheleadingironoreproducingcountrythatyearwasAustralia,whichproduced960millionmetrictonsofusableironorein2023.

ReadmoreNote(s):Worldwide;2010to2023;*Estimated.Grossweight:representstotalforallironoreproductsusedinsteelmaking,unlessotherwisenoted,producedinthecountry,excludingagglomeratesproducedfromimportedironore.Thisstatistic[...]

ReadmoreSource(s):USGeologicalSurveyAluminumproductionworldwidein2021,byregion(in1,000metrictons)Globalaluminumproduction2021,byregionProductioninthousandmetrictons05,00010,00015,00020,00025,00030,00035,00040,00038,83745,000ChinaGulfregion5,8894,499RestofAsiaEast/CentralEuropeNorthAmericaWesternEuropeOceania4,1393,8803,3291,888Africa1,5901,163LatinAmerica4Description:Chinaproducedsome38.8millionmetrictonsofaluminumin2021,becomingtheworld'slargestaluminumproducingregionbyfar.TheGulfregionrankedsecond,butbyawidemargin,withaproductionvolumeofaround5.9millionmetrictonsthatyear.ReadmoreNote(s):Worldwide;2021Source(s):IAI;WorldBureauofMetalStatisticsMineproductionofcopperworldwidefrom2010to2023(inmillionmetrictons)Coppermineproductionworldwide2010-20232521.92221.220.620.420.420.1202019.118.518.316.91616.115105020102011201220132014201520162017201820192020202120222023*5Description:Thetotalworldwidecoppermineproductionamountedtoanestimated22millionmetrictonsin2023.Globalcopperproductionhasseensteadygrowthoverthepastdecade,risingfrom16millionmetrictonsin2010.

ReadmoreNote(s):Worldwide;2010to2023;*Estimated.Thisstatisticwasassembledusingseveraleditionsofthereport.ReadmoreSource(s):USGeologicalSurveyUraniumproductionworldwidefrom2014to2022,byminingmethod(inmetrictons)Globaluraniummineproductionvolumebymethod2014-2022Insituleach(ISL)Underground&openpit*By-product70,00060,00050,00040,00030,00020,00010,00003,2743,5252,6894,1073,5053,7102,3073,0133,31229,06527,79127,35023,67919,60720,74513,93718,56918,01732,088202130,062201629,492201730,339201928,467201429,197201529,248201827,307202226,40220206Description:Uraniumproductionfrominsituleach(ISL)wasthelargestproductioncategoryasof2022,whenISLproductionamountedto27,307metrictonsworldwide.Thatsameyear,uraniumproductionfromundergroundmines(includingopenpitfigures,excludingOlympicDam)cameto18,569metrictonsworldwide,makingitthesecond-largestcategoryofuraniumproductionmethods.ReadmoreNote(s):Worldwide;2014to2022;*FiguresareexcludingtheOlympicDammine.Thisstatisticwasassembledusingseveraleditionsofthereport.Uraniumproductionfiguresforselectedpastyearsmayhavesincebeenadjustedbyselected[...]

ReadmoreSource(s):WorldNuclearAssociationProductionvolumeofroughdiamondsworldwidefrom2005to2021(inmillioncarats)Globalproductionvolumeofroughdiamonds2005-202120017717618016014012010080168163152147139130128128127125126123120116111604020020052006200720082009201020112012201320142015201620172018201920202021*7Description:In2005,theworldwideproductionvolumeofroughdiamondsstoodatapproximately177millioncaratsintotal.Morethanadecadelater,in2021,productionhaddecreasedto116millioncarats.

ReadmoreNote(s):Worldwide;2005to2021;*Estimated.ThisstatisticwasassembledfromseveralBain&Co.publications.ReadmoreSource(s):Bain&Company;KimberleyProcess;Varioussources(companydata,experts)Mineproductionofgoldworldwidefrom2010to2023(inmetrictons)Globalproductionofgoldmines2010-20233,5003,3003,3003,2303,1003,1103,0903,0603,0302,9903,0003,0002,5002,0001,5001,0005002,8002,6902,6602,560020102011201220132014201520162017201820192020202120222023*8Description:In2023,worldwidegoldproductionstoodat3,000metrictons.Goldisatransitionmetalknownforitsbrightlustrousyellowcoloring.Forindustrialpurposes,itsmalleability,ductility,andresistancetocorrosionandmanychemicalreactionsmakesitidealforapplicationssuchaselectricalconnectors,infraredshielding,andgoldleafing.ReadmoreNote(s):Worldwide;2010to2023;*Estimated.

Figuresarerounded.Thisstatisticwasassembledusingseveraleditionsofthereport.

ReadmoreSource(s):USGeologicalSurveyMineproductionofsilverworldwidefrom2005to2023(inmetrictons)Globalsilvermineproduction2005-202330,00025,00020,00015,00010,0005,00002005

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2023*9/statistics/253293/silver-production-volume-worldwideTheestimatedglobalproductionofsilverin2023amountedto26,000metrictons.Theworldwideproductionofthispreciousmetalhasseenacontinualannualincreasesince2020.Humanshavebeenminingandprocessingsilversinceantiquity.

ReadmoreNote(s):Worldwide;2005to2023;*EstimateThisstatisticwasassembledusingseveraleditionsofthereport.ReadmoreSource(s):USGeologicalSurveyCHAPTER

02FinancialsRevenueofRioTintofrom2010to2023(inmillionU.S.dollars)RioTinto'srevenue2010-202370,00060,00050,00040,00030,00020,00010,00002010201120122013201420152016201720182019202020212022202311Description:In2023,RioTinto'sgrosssalesrevenuewasaround54billionU.S.dollars.Thegrosssalesrevenuein2021markedthecompany'shighestgeneratedrevenuesince2011.TheRioTintoGroupisamultinationalexploration,development,production,andprocessingcorporationheadquarteredinLondon,UK.ReadmoreNote(s):Worldwide;2010to2023Source(s):RioTintoGroupDistributionofRioTinto'srevenuein2023,bycountryRioTinto'srevenuedistribution2023,bycountryShareofrevenue0%10%20%30%40%50%60%70%ChinaUnitedStatesOtherAsia59.6%13.9%7.2%6.9%5.3%JapanOtherEurope(excludingUK)Canada2.9%1.7%0.1%AustraliaUnitedKingdomOther2.4%12Description:In2023,RioTintogenerated59.6percentofitssalesrevenuesinChina.TheUnitedStates,thecompany'ssecond-largestmarketintermsofrevenue,accountedfor13.9ofrevenuegenerationthatyear.TheRioTintoGroupisamultinationalexploration,development,production,andprocessingcorporationheadquarteredinLondon,UK.ReadmoreNote(s):Worldwide;2023Source(s):RioTintoGroupRioTinto'snetincomefrom2005to2023(inmillionU.S.dollars)RioTinto'snetincome2005-202325,00020,00015,00010,0005,0000-5,0002005

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202313Description:In2023,RioTinto'snetincomeamountedtosome10.1billionU.S.dollars,an18.5percentdecreasecomparedtothepreviousyear.TheRioTintoGroupisamultinationalexploration,development,production,andprocessingcorporationheadquarteredinLondon,U.K.Asof2023,RioTintowasthesecond-largestminingcompanyworldwidebasedonmarketvalue.ReadmoreNote(s):Worldwide;2005to2023Source(s):RioTintoGroupTotalassetsofRioTintofrom2010to2023(inmillionU.S.dollars)RioTinto'stotalassets2010-2023140,000120,152118,437120,000100,00080,00060,00040,00020,0000112,773111,025107,827102,896103,54997,39096,77495,72691,56490,94989,26387,8022010201120122013201420152016201720182019202020212022202314Description:RioTinto'stotalassetsamountedto103.5billionU.S.dollarsin2023,anincreasecomparedtothepreviousyear.TheRioTintoGroupisamultinationalexploration,development,production,andprocessingcorporationheadquarteredinLondon,U.K.Itisoneoftheworld'slargestminingcompanies.ReadmoreNote(s):Worldwide;2010to2023Source(s):RioTintoGroupBrandvalueofRioTintoworldwidefrom2015to2024(inmillionU.S.dollars)RioTinto'sbrandvalue2015-20244,5004,2294,0003,5003,0002,5002,0001,5001,0005003,3993,3583,3353,3323,2823,1033,0763,0392,4740201520162017201820192020202120222023202415Description:RioTintorankedasthesixth-leadingmining,steel,andironcompanyworldwidein2024basedonbrandvalue,withabrandvalueofaround3.4billionU.S.dollars.In2015,RioTinto'sbrandvaluepeakedat4.23billionU.S.dollars.

ReadmoreNote(s):Worldwide;2015to2024Source(s):BrandFinanceRioTinto'sbasicearningspersharefrom2015to2023(inU.S.dollarcents)RioTinto'searningspershare2015-20231,4001,2001,0008001,304.7793.2765620.3604600490.4491.4400256.92000-47.5-20020152016201720182019202020212022202316Description:In2023,RioTinto'sbasicearningspersharewere6.20U.S.dollarspershare,adecreasecomparedtothepreviousyear.TheRioTintoGroupisamultinationalexploration,development,production,andprocessingcorporationheadquarteredinLondon,U.K.ReadmoreNote(s):Worldwide;2015to2023Source(s):RioTintoGroupNumberofemployeesatRioTintofrom2010to2023(inthousands)NumberofRioTinto'semployees2010-2023907780706050403020100716866.3359.7857.1754.9453.7351.0349.3547.4647.4746.81462010201120122013201420152016201720182019202020212022202317Description:RioTintoisaBritish-Australianmultinationalminingandmetalscorporation.In2023,RioTintoemployed57,174peopleintotalworldwide.ReadmoreNote(s):Worldwide;2010to2023Source(s):RioTintoGroupCHAPTER

03SegmentsRevenueofRioTintoin2023,bysegment(inmillionU.S.dollars)RioTinto'srevenuebysegment202335,00032,24930,00025,00020,00015,00010,0005,000012,2856,6785,934142IronOreAluminumCopperMineralsOtheroperations19Description:In2023,RioTintogeneratedapproximately32.2billionU.S.dollarsofrevenueintheironoresegment.Aluminumwasthecompany'ssecond-largestsegmentintermsofrevenuethatyear,generating12.3billionU.S.dollars.ꢀTheRioTintoGroupisanmultinationalexploration,development,productionandprocessingcorporationheadquarteredinLondon,UK.ReadmoreNote(s):Worldwide;2023Source(s):RioTintoGroupRevenueofRioTinto'sIronOresegmentfrom2016to2023(inmillionU.S.dollars)RioTinto'sIronOresegmentrevenue2016-202345,00040,00035,00030,00025,00039,58232,24930,90627,50824,07518,73118,46620,00015,00010,0005,000014,6052016201720182019202020212022202320Description:In2023,RioTintogeneratedapproximately32.2billionU.S.dollarsofrevenueinitsIronOresegment.ThatmadeitRioTinto'shighestearningsegment.ꢀRioTinto'sIronOresegmentincludesironoremining,aswellassaltandgypsummininginWesternAustralia.TheRioTintoGroupisanmultinationalexploration,development,productionandprocessingcorporationheadquarteredinLondon,UK.ReadmoreNote(s):Worldwide;2016to2023;GrossproductsalesSource(s):RioTintoGroupRevenueofRioTinto'sAluminiumsegmentfrom2016to2023(inmillionU.S.dollars)RioTinto'sAluminiumsegmentrevenue2016-202316,00014,00012,00014,10912,69512,28512,19111,00510,3409,45810,0008,0006,0004,0002,00009,3142016201720182019202020212022202321Description:In2023,RioTintogeneratedapproximately12.3billionU.S.dollarsofrevenueintheAluminiumsegment.Aluminiumwasthecompany'ssecond-largestsegmentintermsofrevenuethatyear.ꢀRioTinto'sAluminiumsegmentincludesbauxitemining,aluminarefining,andaluminumsmelting.TheRioTintoGroupisanmultinationalexploration,development,production,andprocessingcorporationheadquarteredinLondon,UK.ReadmoreNote(s):Worldwide;2016to2023;GrossproductsalesSource(s):RioTintoGroupRevenueofRioTinto'sCoppersegmentfrom2019to2023(inmillionU.S.dollars)RioTinto'sCoppersegmentrevenue2019-20239,0008,0007,0007,8276,6996,6786,0005,1964,9695,0004,0003,0002,0001,00002019*2020*20212022202322Description:TheRioTintoGroupisanmultinationalmineralexploration,development,productionandprocessingcorporation.ItisheadquarteredinLondon,UK.In2023,thecompanygeneratedsome6.7billionU.S.dollarsofrevenuefromitscoppersegment,aslightdecreaseincomparisontothepreviousyear.ꢀRioTinto'sCoppersegmentisinvolvedintheminingandrefiningofcopper,silver,gold,molybdenum,andotherby-products.ItisalsoinvolvedinexplorationactivitieswiththeSimandouiron[...]

ReadmoreNote(s):Worldwide;2019to2023;*InJanuary2021,RioTintorestructureditsoperatingsegments.Accordingly,theCopperandDiamondssegmentwasbrokenup,withdiamondsnowapartoftheMineralssegment.Copperfiguresfor2019and[...]

ReadmoreSource(s):RioTintoGroupRevenueofRioTinto'sMineralssegmentfrom2019to2023(inmillionU.S.dollars)RioTinto'sMineralssegmentrevenue2019-20238,0007,0006,0006,7456,4815,9345,3945,1705,0004,0003,0002,0001,00002019202020212022202323Description:In2023,RioTintogeneratedapproximately5.9billionU.S.dollarsofrevenuefromitsMineralssegment,adecreasecomparedtothepreviousyear.RioTinto'sMineralssegmentincludesbusinesseswithproductssuchasborates,titaniumdioxidefeedstock,togetherwiththeIronOreCompanyofCanada(ironoreminingandironconcentrate/pelletproduction).Italsoincludesdiamondmining,sorting,andmarketing.ꢀTheRioTintoGroupisanmultinationalexploration,development,[...]ReadmoreNote(s):Worldwide;2019to2023;GrossproductsalesSource(s):RioTintoGroupCHAPTER

04ProductionRioTinto'sproductionofaluminumandcopperfrom2010to2023(in1,000metrictons)RioTinto'saluminumandcopperproduction2010-2023Aluminum3,646Copper*3,5514,5004,000

3,7903,5003,0002,5002,0001,5001,0005003,8243,5553,4563,3613,3223,2723,2313,1713,1803,1513,009678632607.6603577.4549527.9562.4520504523521.1478.1493.502010201120122013201420152016201720182019202020212022202325Description:TheRioTintoGroupisanmultinationalexploration,development,productionandprocessingcorporationheadquarteredinLondon,UK.In2023,RioTintoproducedapproximately562,400metrictonsofcopperandaround3.3millionmetrictonsofaluminum.ReadmoreNote(s):Worldwide;2010to2023Source(s):RioTintoGroupRioTinto'sproductionofbauxiteandironorefrom2010to2023(in1,000metrictons)RioTinto'sproductionofbauxiteandironore2010-2023BauxiteIronore350300290.8290.2285.9281.3282.5281.2283.2276.6263250233.6209198.9191.8200150100184.655.156.154.354.654.650.850.447.743.241.943.739.450

33.135.402010201120122013201420152016201720182019202020212022202326Description:In2023,RioTintoproducedapproximately54.6millionmetrictonsofbauxite,andaround290.2millionmetrictonsofironore.RioTintoisoneoftheworld'slargestmetalsandminingcompanies,producingironore,copper,aluminum,diamonds,anduranium,amongotherresources.ReadmoreNote(s):Worldwide;2010to2023Source(s):RioTintoGroupRioTinto'sgoldandsilverproductionfrom2010to2023(in1,000ounces)RioTinto'sgoldandsilverproduction2010-2023GoldSilver6,8625,6565,4124,9244,7654,6994,3574,2104,1944,1483,9403,8113,6573,311772669487389.7344.920213402013376372.129420122942016260.120172832020281.52023235202220102011201420152018201927Description:In2023,RioTintoproducedsome281,500ouncesofgold,andapproximately3.8millionouncesofsilver.RioTintoisoneoftheworld'slargestmetalsandminingcompaniesandisheadquarteredinLondon,U.K.

ReadmoreNote(s):Worldwide;2010to2023;FiguresareforminedgoldandsilverSource(s):RioTintoGroupRioTinto'sdiamondproductionworldwidefrom2010to2023(in1,000carats)RioTinto'sdiamondproduction2010-202325,00020,00021,62718,42717,95317,39217,03016,02714,67615,00010,0005,000013,87213,84313,12211,7334,65120223,84720213,34020232010201120122013201420152016201720182019202028Description:In2023,RioTintoextractedsome3.3millioncaratsofdiamonds.Thisfiguremarksanearly30percentincreasefromthepreviousyear.2023markedthecompany'slowestdiamondproductionintheperiodofconsideration.

ReadmoreNote(s):Worldwide;2010to2023Source(s):RioTintoGroupUraniumproductionofRioTintofrom2010to2023(in1,000pounds)RioTinto'suraniumproduction2010-202312,00010,0008,0006,0004,0002,000011,3779,6758,1057,0586,7646,6506,3424,9074,7544,08920142,8702020650020102011201220132015201620172018201920212022*2023*29Description:In2021,RioTintoproducedapproximately65,000poundsofuranium.Thecompany'suraniumproductionhasseenanoveralldeclineintheperiodofconsiderationfromapeakof11.4millionpoundsin2010.However,productionfiguresfrom2021markadrasticdecreasecomparedtopreviousyears.EnergyResourcesofAustraliaceasedprocessingoperationson8January2021,asrequiredbytheRangerAuthority

ReadmoreNote(s):Worldwide;2010to2023Source(s):RioTintoGroupCoalproductionofRioTintofrom2006to2020(inmillionmetrictons)RioTinto'scoalproduction2006-2020180162.3160.5155.616014012010080140.172.86035403232.631.430.129.523.7206.500020062007200820092010201120122013201420152016201720182019*2020*30Description:TheRioTintoGroupisanmultinationalexploration,development,production,andprocessingcorporation.ItisheadquarteredinLondon,UK.Asof2019and2020,thecompanydidnotproducecoalanymore.

ReadmoreNote(s):Worldwide;2006to2020;*ThedecreaseinRioTinto'scoalproductionhasoccurredasaresultofthesaleofitsproductionassets.Thisstatistichasbeenassembledusingseveraleditionsofthereport.Totalproductionincludeshard[...]

ReadmoreSource(s):RioTintoGroupCHAPTER

05CompetitorsLeadingminingcompaniesworldwidebasedonmarketcapitalizationinMay2024(inbillionU.S.dollars)Globalleadingminingcompaniesbasedonmarketcapitalization2024MarketcapitalizationinbillionU.S.dollars40

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80020100120140160BHP,AustraliaRioTinto,UK145.86120.37SouthernCopperCorp,U.S.Freeport-McMoRan,U.S.Glencore,SwitzerlandZijinMiningGroup,ChinaVale,Brazil89.8973.8171.7362.4257.8154.4FortescueMetalsGroup,AustraliaGrupoMexico,MexicoNewmontCorporation,U.S.AngloAmerican,UK48.0847.7945.0344.18AmmanMineral,IndonesiaAgnicoEagleMines,CanadaBarrickGold,Canada33.0229.4127.22Antofagasta,UK32Description:AsofMay2024,miningcompanyBHPreachedamarketcapitalizationofnearly146billionU.S.dollars.ReadmoreNote(s):Worldwide;asofMay8,2024Source(s):ThomsonReuters;Varioussources(companydata)Leadingminingcompaniesworldwidein2024,basedonrevenue(inbillionU.S.dollars)Globallistofleadingminingcompanies2024,basedonrevenueRevenueinbillionU.S.dollars50

1000150200250Glencore,UKJiangxiCopper,ChinaBHP,Australia/UK217.8672.0755.3454.05RioTinto,Australia/UKZijinMiningGroup,ChinaVale,Brazil40.6240.34AluminumCorporationofChina,ChinaAngloAmerican,UK31.1830.66TataSteel,India27.94CMOC,ChinaHindalco,IndiaFreeport-McMoRan,U.S.Cleveland-Cliffs,U.S.26.0625.8323.7921.921.0318.8JSWSteel,IndiaTonglingNonferrousMetalsGroup,China33Description:MiningcompanyGlencorewasrankedasthenumberoneminingcompanyintheworldasof2024,withanannualrevenuein2023ofapproximately218billionU.S.dollars.InthirdplacewasBHP.BHP’srevenuehasrecoveredinthepastfewyearsfromaslumpinrevenuesin2016and2017.Theirprimaryfocusisonmetalsandmining.ReadmoreNote(s):Worldwide;2023and2024;onlycompanieswithminingactivitieshavebeenincludedSource(s):FinancialTimes;ThomsonReuters;Varioussources(companydata)Leadingminingcompaniesworldwidein2024,basedonnetincome(inbillionU.S.dollars)Globalleadingminingcompaniesin2024,basedonnetincomeNetincomeinbillionU.S.dollars402681012RioTinto(Australia/UK)Vale,(Brazil)10.067.74BHP(Australia/UK)7.39FortescueMetalsGroup(Australia)Glencore,(Switzerland)GrupoMexico,(Mexico)ZijinMiningGroup(China)SouthernCopper(U.S.)Nornickel(Russia)5.754.283.223.042.352.27Freeport-McMoRan(U.S.)1.6434Description:RioTinto,themultinationalminingcompanyfromAustraliawasrankedasthenumberoneminingcompanyworldwideinbasedonnetincomeasofa2024ranking.RioTinto'snetincomein2023amountedtomorethan10billionU.S.dollars.InsecondplacethatyearwastheBrazilianmininggiantVale,withanetincomeof7.7billionU.S.dollars.ReadmoreNote(s):Worldwide;2023and2024Source(s):ThomsonReuters;Varioussources(companydata)Brandvalueoftopminingcompaniesworldwidein2024(inmillionU.S.dollars)Leadingminingcompaniesworldwide2024,bybrandvalueBrandvalueinmillionU.S.dollars2,000

3,00001,0004,0005,0006,0007,000BHP(Austral