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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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Group Company Secretary Steve Allen
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Category: General
Source: Rio Tinto