Rio Tinto Q4 Iron Ore Shipments Down 1%

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(RTTNews) - Anglo-Australian mining giant Rio Tinto Plc (RTNTF, RIO, RIO.L, RTPPF) Wednesday reported fourth-quarter Pilbara iron ore shipments of 85.7 million tons, down 1% form the fourth quarter of 2023.

The company reported Pilbara iron ore production of 86.5 million tons in the fourth quarter, 1% down from the corresponding period of 2023.

Bauxite production was 15.4 million tons, up 2% from the fourth quarter of 2023. Aluminium production was 837 kilo ton, down 1% from the fourth quarter of 2023.

Rio Tinto Chief Executive Jakob Stausholm said: "Our operating performance in 2024 was good, consistent with our ongoing commitment to strengthen the business as we execute our strategy to deliver profitable growth. The implementation of our Safe Production System has again contributed to greater consistency across key operations, including our iron ore assets in the Pilbara and our bauxite operations in Australia, where Amrun and Gove achieved record annual production."

"We are making strong progress in delivering organic growth from our major projects. The Oyu Tolgoi underground copper mine in Mongolia continues to successfully ramp up, while the Simandou high-grade iron ore project in Guinea and our Western Range mine in the Pilbara are on schedule for first production this year."