Rio Tinto Q4 Pilbara Iron Ore Shipments Down 1%

(RTTNews) - Anglo-Australian mining giant Rio Tinto Plc (RTNTF, RIO, RIO.L, RTPPF), Monday reported that its fourth-quarter Pilbara iron ore shipments were 86.3 million tons, down 1% from last year.

Pilbara operations produced 87.5 million tons of iron ore in the fourth quarter, 2% lower than last year.

The company reported bauxite production of 15.1 million tons, which was up 15% higher than the fourth quarter of 2022.

Aluminum production was 846 thousand tons, up 8% higher from the fourth quarter of 2022.

Rio Tinto Chief Executive Jakob Stausholm said: "The Group's total copper equivalent production increased by just over 3% from 2022, reflecting the Gudai-Darri mine in the Pilbara reaching its nameplate capacity and deployment of our Safe Production System. We also benefited from our increased ownership in Oyu Tolgoi as the underground ramps up and the Kitimat aluminum smelter returned to full capacity."