Rio Tinto posts solid first quarter production performance
April 22, 2015
Global metals and mineral supplier, Rio Tinto, has published its first quarter 2015 production figures demonstrating a solid performance. The companies iron ore shipments were reported at 57.3 million tonnes, up 9% on the first quarter of 2014. Iron ore production of 59.4 million tonnes represented a 12% increase year on year.
“We continue to drive efficiency in all aspects of our business, which is reflected in our solid production performance during the first quarter. By making best use of our high quality assets, low cost base and operating and commercial capability our aim is to protect our margins in the face of declining prices and maximise returns for shareholders throughout the cycle,” stated Sam Walsh, Rio Tinto’s Chief Executive.
Record first quarter bauxite production was 4% higher than the first quarter of 2014, primarily due to a strong performance at Weipa. Mined copper production was 12% higher than the fourth quarter of 2014, driven by higher throughput at Kennecott and Escondida.
Aluminium production in the first quarter was in line with the same period of 2014, despite the partial shutdown at Kitimat, which continues to prepare for the first hot metal at the modernised smelter by mid-2015. The company added that titanium dioxide production was 17% lower than in the first quarter of 2014 as production continued to be optimised to align with market demand.
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