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MELBOURNE, Australia--(BUSINESS WIRE)-- Rio Tinto Chief Executive Jakob Stausholm said: “We continue to strengthen our operations, with the roll-out of the Safe Production System delivering consistent production at our Pilbara iron ore business and a step change from our Australian bauxite mines. We are building on this, with more work to do across our global portfolio.
“We progressed our major projects to deliver profitable organic growth. We are on track for first production from our Simandou high-grade iron ore project next year and first lithium from the Rincon starter plant by the end of this year. Meanwhile the ramp-up of copper production continues at the Oyu Tolgoi underground mine.
“We announced the acquisition of Arcadium Lithium, bringing a world-class lithium business alongside our leading aluminium and copper operations to supply materials needed for the energy transition. This is aligned with our strategy and our disciplined capital allocation framework, increasing our exposure to a high-growth, attractive market at the right point in the cycle.
“The decarbonisation of our business remains a priority and is progressing well. We took another important step in securing a long-term future for the Boyne Smelter, announcing a partnership with the Queensland Government to support investment in renewable energy projects.
“Our long-term pathway to deliver profitable growth and create shareholder value remains clear, as we progress our business in line with our four objectives.”
Production1
Quarter 3
2024
vs Q3
2023
vs Q2
9 months
vs 9 m
Pilbara iron ore shipments (100% basis) (Mt)
84.5
+1%
+5%
242.9
-1%
Pilbara iron ore production (100% basis) (Mt)
84.1
+6%
241.5
Bauxite (Mt)
15.1
+8%
+3%
43.2
+9%
Aluminium2 (kt)
809
-2%
2,459
Mined Copper (consolidated basis) (kt)
168
495
Titanium dioxide slag (kt)
263
+7%
+11%
755
-10%
IOC3 iron ore pellets & concentrate (Mt)
2.1
-11%
-3%
6.9
1 Rio Tinto share unless otherwise stated
2 Includes primary aluminium only
3 Iron Ore Company of Canada
Q3 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 third quarter production results are available here
This announcement is authorised for release to the market by Andy Hodges, Rio Tinto’s Group Company Secretary.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241015413534/en/
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