Rio Tinto releases second quarter production results

  • Monday, July 22, 2019
  • Source:中国铁合金网

  • Keywords:Rio Tinto, iron ore, shipments, production
[Fellow]Pilbara iron ore shipments of 85.4 million tonnes (100% basis) in the second quarter were 3% lower than the second quarter of 2018.

[Ferro-Alloys.comRio Tinto chief executive J-S Jacques said “We saw a challenging operational performance across our portfolio in the first half, while also investing in future growth at Richards Bay Minerals and Resolution. Whilst we experienced operational and weather issues at our iron ore operations in Australia, pricing and market demand has remained robust. We remain focused on safely improving and optimising the performance and productivity of our assets in order to drive future cash flow. This, combined with our value over volume strategy and the disciplined allocation of capital, will continue to deliver superior returns to our shareholders in the short, medium and long term.”

• Pilbara iron ore shipments of 85.4 million tonnes (100% basis) in the second quarter were 3% lower than the second quarter of 2018. Shipments were impacted in April due to recovery works following Tropical Cyclone Veronica.

• 2019 guidance for Pilbara shipments was revised on 19 June 2019 to between 320 and 330 million tonnes, 100% basis (previously between 333 and 343 million tonnes) due to mine operational challenges. Unit cost guidance has been revised to $14 - $15 per tonne (previously $13 - $14 per tonne).

• Lower iron ore production was the primary driver of a 2% reduction in copper equivalent production in the first half compared to the corresponding period of 2018. (Rio Tinto Group)

 

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