Rio Tinto Group (RIO) Q2 2023 Earnings Call Transcript

Rio Tinto Group (NYSE:RIO) Q2 2023 Earnings Conference Call July 26, 2023 4:30 AM ET

Company Participants

Menno Sanderse - Head, IR

Jakob Stausholm - CEO & Executive Director

Peter Cunningham - CFO & Executive Director

Conference Call Participants

Liam Fitzpatrick - Deutsche Bank

Tyler Broda - RBC Capital Markets

Paul Young - Goldman Sachs

Rahul Anand - Morgan Stanley

Richard Hatch - Berenberg

Alain Gabriel - Morgan Stanley

Lyndon Fagan - JPMorgan

Hayden Bairstow - Macquarie

Robert Stein - CLSA

Patrick Mann - Bank of America

Myles Allsop - UBS

Danielle Chigumira - Credit Suisse

Menno Sanderse

Good morning, and good evening, everybody. And welcome to Rio Tinto's Half Year Results. It's very good to be with you again today, after seeing many of you about two weeks ago at Ulaanbaatar and at our Oyu Tolgoi site, of which you see a great picture here. We will follow totally normal proceedings today. Jakob and Peter will take you through introductionary remarks, and we will follow that with a question-and-answer session. Please limit yourself to one question and one follow up so we can cover as many people as possible that are attending today.

For those in the room. There is no emergency drill planned, if you hear a fire alarm, please leave by the fire exits at the front and at the back of the room and follow the instructions from the fire marshals.

Jakob, over to you.

Jakob Stausholm

Well thank you, Menno. Good morning and good evening to those of you in the East. It's a pleasure to be with you in London once again, with Peter on my side. Before I start, I'd like to acknowledge and pay my respect to all traditional owners and First Nations people that host our operations around the world.

This year, as many of you know, our company has been celebrating its 150 years Anniversary. We have been taking this opportunity to reflect on who we are the moments from our history we should learn and grow from, but also what we do really well, consistent progress, innovation where it matters, world class assets and people and meaningful commitment to our shareholders through our balanced approach through capital allocation. This is the story, we are working hard to continue.

In February, I told you, our focus was about building an even stronger Rio Tinto by investing in the health of our business and shaping our portfolio for the future. We are still doing just that. We are laying the foundations for our longer term success by making astute decisions that are getting the best out of our assets. And while we continue to operate against the challenging backdrop, time and time again, we're proving our resilience.