Safety a priority as Rio Tinto releases Q3 production results
(Posted on 18/10/24)
Rio Tinto is continuing to prioritise learning from safety incidents to improve the effectiveness of critical controls. Amongst other highlights in the third quarter, the company is on track to deliver its ambition to grow overall copper equivalent production (based on long-term consensus pricing) by around 3% of compound annual growth from 2024 to 2028 from its existing portfolio and projects already in execution.
Rio Tinto Chief Executive Jakob Stausholm said: “We continue to strengthen our operations, with the roll-out of the Safe Production System delivering consistent production at our Pilbara iron ore business and a step change from our Australian bauxite mines. We are building on this, with more work to do across our global portfolio.
“We progressed our major projects to deliver profitable organic growth. We are on track for first production from our Simandou high-grade iron ore project next year and first lithium from the Rincon starter plant by the end of this year. Meanwhile the ramp-up of copper production continues at the Oyu Tolgoi underground mine.
“We announced the acquisition of Arcadium Lithium, bringing a world-class lithium business alongside our leading aluminium and copper operations to supply materials needed for the energy transition. This is aligned with our strategy and our disciplined capital allocation framework, increasing our exposure to a high-growth, attractive market at the right point in the cycle.
“The decarbonisation of our business remains a priority and is progressing well. We took another important step in securing a long-term future for the Boyne Smelter, announcing a partnership with the Queensland Government to support investment in renewable energy projects.
“Our long-term pathway to deliver profitable growth and create shareholder value remains clear, as we progress our business in line with our four objectives.”
Other operational highlights included, production in the Pilbara, which produced 84.1 million tonnes (Rio Tinto share 71.0 million tonnes) in the third quarter, 1% higher than the corresponding period of 2023. Productivity gains continue to offset ore depletion. Shipments of 84.5 million tonnes (Rio Tinto share 72.5 million tonnes) were also 1% higher than the third quarter of 2023.
Latest News
Rio Tinto provides Iron Ore update following Tropical Cyclone Sean
(Posted on 24/01/25)Tropical Cyclone Sean delivered record rain along parts of the Pilbara coastline of Western Australia... Read more
Rio Tinto shows greater consistency across key operations
(Posted on 19/01/25)Rio Tinto has released fourth quarter production results. Chief Executive Jakob Stausholm said: &ldquo... Read more
Trafigura publishes 2024 Sustainability Report
(Posted on 19/01/25)Trafigura Group Pte Ltd. has published its 2024 Sustainability Report, highlighting the Group’... Read more
NGFA comments on US East and Gulf Coast port labour deal
(Posted on 10/01/25)The International Longshoremen’s Association and the United States Maritime Alliance, Ltd. have... Read more
Vitol completes acquisition of Noble Resources
(Posted on 07/01/25)Further to the announcement of 2nd August 2024, Vitol B.V. has now completed the acquisition of... Read more
Rio Tinto progresses development of Quebec gallium extraction process
(Posted on 17/12/24)As part of a research and development programme, Rio Tinto is assessing the potential for extracting... Read more
Trafigura publishes 2024 Annual Results
(Posted on 17/12/24)Trafigura Group Pte Ltd, a market leader in the global commodities industry, has released results for... Read more
Anglo American completes Serpentina premium iron ore transaction
(Posted on 11/12/24)Anglo American plc has announced the completion of the transaction to combine the Serra da Serpentina... Read more
BHP Group Investor Relations Officer appointed
(Posted on 11/12/24)BHP has appointed Mark Bendall as Group Investor Relations Officer, effective 1 April 2025.Mr Bendall... Read more
Fertilizers Europe welcomes EU Members requests for tariffs on Russian fertilizers
(Posted on 04/12/24)Fertilizers Europe, the voice of the European fertilizer industry, has welcomed and fully supports the... Read more
