Rio Tinto releases first quarter production results 17 April 2024
Rio Tinto Chief Executive Jakob Stausholm said: “We have been deeply affected by the loss of four Diavik colleagues and two airline crew members in a plane crash in January. This tragedy has strengthened our resolve to never be complacent about safety.
“We delivered stable operating results in the first quarter, including improvements at our bauxite and aluminium businesses, as we navigated seasonal challenges across our global operations. Our full year guidance is unchanged across all our products. We remained focused on growth in energy-transition materials, with the ramp-up at Oyu Tolgoi underground, the first full quarter of recycled aluminium production from Matalco and further progress at Simandou, our high grade iron ore project in Guinea.
“Action to decarbonise our operations continues, with power purchase agreements signed marking a significant step towards a competitive renewable energy solution for our Gladstone operations - the single largest lever towards our 2030 emissions goal. We also joined with BHP and BlueScope to investigate the development of Australia’s first electric smelting furnace pilot plant, progressing our work on steel decarbonisation. We continue to pursue our long-term strategy, and have a clear pathway to deliver operational excellence, while investing in profitable growth and delivering attractive shareholder returns.”
Q1 2024
78.0 77.9 13.4
826 156 254
2.6
Production*
Pilbara iron ore shipments (100% basis) Mt Pilbara iron ore production (100% basis) Mt Bauxite Mt Aluminium** kt Mined copper (consolidated basis) kt Titanium dioxide slag kt IOC*** iron ore pellets and concentrate Mt
* Rio Tinto share unless otherwise stated ** Includes primary aluminium only
*** Iron Ore Company of Canada
Q1 2024 operational highlights and other key announcements
vs Q1
vs Q4 2023 2023
-5% -10%
-2% -11% +11% -11% +5% -2% +7% -3% -11% -8% +3% -3%
• Our all injury frequency rate for the first quarter was 0.36, in line with the previous quarter, and a small increase from the first quarter of 2023 (0.34). The tragic plane crash in January is a devastating reminder of why safety is and must always be our top priority. We continue to work closely with the authorities to support their efforts to understand the full facts of what has happened.
• In the Pilbara, we produced 77.9 million tonnes (Rio Tinto share 66.1 million tonnes) in the first quarter, 2% lower than the corresponding period of 2023. Compared to the first quarter in 2023, planned ore depletion, predominantly at Yandicoogina, was partially offset by productivity gains across other operations. We continue to work on asset management and pit health, and expect further productivity gains over the remainder of the year. Shipments of 78.0 million tonnes (Rio Tinto share 66.1 million tonnes) were 5% lower than the first quarter of 2023. Lower volumes were predominantly the result of weather disruption at the ports, leading to a lower stock draw-down compared to last year, as well as reduced production at the mines.
• Bauxite production of 13.4 million tonnes was 11% higher than the first quarter of 2023 with continued improvement in operational stability at Weipa and Gove.
• Aluminium production of 0.8 million tonnes was 5% higher than the first quarter of 2023. Kitimat is now back at full capacity.
• Mined copper production of 156 thousand tonnes (consolidated basis) was 7% higher than the first quarter of 2023.

see & read more on https://www.riotinto.com/en/news/releases/2024/rio-tinto-releases-first-quarter-production-results


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