Finding better ways to provide the materials the world needs
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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
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We’re targeting net zero emissions by 2050
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Our nature-based solutions projects complement the work we're doing to reduce our Scope 1 and 2 emissions
Enabling ESG transparency
Our START™ initiative tracks traceability and responsible production of Rio Tinto materials.
We aim to deliver superior returns to our shareholders while safeguarding the environment and meeting our obligations to wider society
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How we're working to decarbonise iron ore and steel
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MELBOURNE, Australia--(BUSINESS WIRE)-- Rio Tinto Chief Executive Jakob Stausholm said: “Our operational performance continues to progress. While there are still significant improvements ahead, we are beginning to see a step-change in production, including from our Queensland bauxite business following the roll-out of the Safe Production System.
"We are growing with discipline in the materials the world needs for the energy transition. Construction of the Simandou high grade iron ore project in Guinea is advancing at pace, the ramp up of the Oyu Tolgoi underground is on track and we are set to achieve first production from the Rincon starter plant by the end of the year.
“We continue to prioritise the decarbonisation of our business, announcing the installation of carbon free aluminium smelting cells using ELYSIS technology at our Arvida smelter in Quebec and an investment in a R&D facility to test our low-carbon ironmaking process, BioIron, in Western Australia. We also signed 20-year electricity arrangements backed by renewable electricity to secure the future of the Tiwai Point aluminium smelter in New Zealand.
"As we progress against our four objectives and strategy, we have a clear long-term pathway to profitable growth and continued attractive shareholder returns.”
Production*
Quarter 2 2024
vs Q2 2023
vs Q1 2024
H1 2024
vs H1 2023
Pilbara iron ore shipments (100% basis) (Mt)
80.3
+2%
+3%
158.3
-2%
Pilbara iron ore production (100% basis) (Mt)
79.5
157.4
Bauxite (Mt)
14.7
+9%
+10%
28.1
Aluminium** (kt)
824
+1%
0%
1,650
Mined Copper (consolidated basis) (kt)
171
+18%
327
+13%
Titanium dioxide slag (kt)
238
-22%
-6%
492
-16%
IOC*** iron ore pellets & concentrate (Mt)
2.2
+6%
4.8
+5%
* Rio Tinto share unless otherwise stated ** Includes primary aluminium only *** Iron Ore Company of Canada
Q2 2024 operational highlights and other key announcements
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.
The full second quarter production results are available here
This announcement is authorised for release to the market by Andy Hodges, 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/20240715462798/en/
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