• In its third quarter review, Rio Tinto notes record bauxite output and strong performance in its aluminium division, helping offset challenges in other units.
  👉 Source: Rio Tinto

Summary:

• New operating model and executive team: to simplify the business and unlock additional shareholder value. New structure comprises three world-class businesses: Iron Ore; Aluminium & Lithium; and Copper. Borates and Iron & Titanium have been placed under strategic review.
• Copper equivalent (CuEq)¹ production: increased 9% in Q3 YoY, driven by strong performance across all our assets.
• Copper: Total production is on track to achieve the higher end of full year guidance, driven by the strong ramp-up at Oyu Tolgoi. Our Kennecott mine performed as expected during the quarter while major planned maintenance at the concentrator and smelter commenced successfully.
• Iron ore: Pilbara achieved its second highest Q3 shipments since 2019, up 6% from Q2. As part of our Iron Ore replacement strategy, West Angelas Sustaining Project received all Government approvals in October.
• Aluminium & Lithium: Full year bauxite production guidance upgraded driven by operational excellence at ourbauxite business, especially at Amrun.

Article Link :

https://www.riotinto.com