Finding better ways to provide the materials the world needs
Purpose & Values
The drive for innovation and continuous improvement is at the heart of our purpose
Business Strategy
Climate change is at the heart of our business strategy
Innovation
Finding better ways to do things is in our DNA
We supply the metals and minerals used to help the world grow and decarbonise
Iron Ore
The primary raw material used to make steel, which is strong, long-lasting and cost-efficient
Lithium
The lightest of all metals, it is a key element needed for low-carbon technologies
Copper
Tough but malleable, corrosion-resistant and recyclable, and an excellent conductor of heat and transmitter of electricity
Bringing to market materials critical to urbanisation and the transition to a low-carbon economy
Oyu Tolgoi
One of the most modern, safe and sustainable operations in the world
Rincon Project
A long-life, low-cost and low-carbon lithium source
Simandou Project
The world’s largest untapped high-grade iron ore deposit
Providing materials the world needs in a responsible way
Climate Change
We’re targeting net zero emissions by 2050
Tailings
Details of our tailings facilities can be found on our interactive tailings disclosure map
Communities
The strength of our relationships with the communities where we operate, and broader society, is fundamental to our business
We aim to deliver superior returns to our shareholders while safeguarding the environment and meeting our obligations to wider society
2024 Half year results
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Reducing titanium oxide's carbon footprint
Our BlueSmelting technology could drastically reduce carbon emissions during ore processing
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MELBOURNE--(BUSINESS WIRE)--Rio Tinto chief executive J-S Jacques said “We finished the year with good momentum, particularly in our Pilbara iron ore operations and in bauxite, despite having experienced some operational challenges in 2019. We are increasing our investment, with $2.25 billion of high-return projects in iron ore and copper approved in the fourth quarter. We also boosted our exploration and evaluation expenditure to $624 million in 2019, further strengthening our pipeline of opportunities.
“We have the platform and performance to maintain our delivery of superior returns to shareholders over the short, medium and long-term, driven by our strong value over volume approach and ongoing disciplined allocation of capital.”
Q4 2019
vs Q4 2018
vs Q3 2019
2019
vs 2018
Pilbara iron ore shipments (100% basis)
Mt
86.8
-1%
+1%
327.4
-3%
Pilbara iron ore production (100% basis)
83.6
-4%
326.7
Bauxite
15.1
+28%
+10%
55.1
+9%
Aluminium
kt
783
3,171
-2%
Mined copper
138.7
-9%
-12%
577.4
-5%
Titanium dioxide slag
286
-11%
1,206
+8%
IOC iron ore pellets and concentrate
2.6
-10%
-13%
10.5
+18%
Average realised prices
Pilbara iron ore
$/wmt, FOB
79.0
+37%
$/t (including VAP, mid-west premium)
2,132
-14%
US cents per lb
274.5
-7%
2020 production guidance (Rio Tinto share, unless otherwise stated)
2019 actual
2020 guidance
Pilbara iron ore (shipments, 100% basis)
327.4 Mt
330 to 343 Mt
55.1Mt
55 to 58 Mt
Alumina
7.7 Mt
7.8 to 8.2 Mt
3.2 Mt
3.1 to 3.3 Mt
577 kt
530 to 570 kt
Refined copper
260 kt
205 to 235 kt
Diamonds
17 M carats
12 to 14 M carats
1.2 Mt
1.2 to 1.4 Mt
IOC pellets and concentrate
10.5 Mt
10.5 to 12.0 Mt
Boric oxide equivalent
0.5 Mt
~0.5 Mt
The full fourth quarter production results are available here
All figures in this report are unaudited. All currency figures in this report are US dollars, and comments refer to Rio Tinto’s share of production, unless otherwise stated. To allow production numbers to be compared on a like-for-like basis, production from asset divestments completed in 2018 is excluded from Rio Tinto share of production data.
This announcement is authorised for release to the market by Rio Tinto’s Group Company Secretary.
LEI: 213800YOEO5OQ72G2R82
Classification: 3.1 Additional regulated information required to be disclosed under the laws of a Member State
View source version on businesswire.com: https://www.businesswire.com/news/home/20200116005838/en/
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Media Relations, United Kingdom Illtud HarriM +44 7920 503 600
David OuthwaiteT +44 20 7781 1623M +44 7787 597 493
Media Relations, Americas Matthew KlarT +1 514 608 4429
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Investor Relations, Australia Natalie WorleyT +61 3 9283 3063M +61 409 210 462
Amar JambaaT +61 3 9283 3627M +61 472 865 948
Group Company Secretary Steve Allen
Rio Tinto plc 6 St James’s SquareLondon SW1Y 4ADUnited KingdomT +44 20 7781 2000Registered in EnglandNo. 719885
Joint Company Secretary Tim Paine
Rio Tinto Limited Level 7, 360 Collins StreetMelbourne 3000AustraliaT +61 3 9283 3333Registered in AustraliaABN 96 004 458 404
Category: General
Source: Rio Tinto
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