Finding better ways to provide the materials the world needs
Purpose & Values
The drive for innovation and continuous improvement is at the heart of our purpose
Business Strategy
Climate change is at the heart of our business strategy
Innovation
Finding better ways to do things is in our DNA
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
Climate Change
We’re targeting net zero emissions by 2050
Nature solutions
Our nature-based solutions projects complement the work we're doing to reduce our Scope 1 and 2 emissions
Decarbonisation progress update
We have a clear plan on decarbonisation - find out more about our progress in 2024
We aim to deliver superior returns to our shareholders while safeguarding the environment and meeting our obligations to wider society
Acquisition of Arcadium Lithium
Bringing our scale, development capabilities and financial strength to the Arcadium Lithium portfolio
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How unlocking innovation requires a change of mindset
Reducing titanium oxide's carbon footprint
Our BlueSmelting technology could drastically reduce carbon emissions during ore processing
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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/
Please direct all enquiries to media.enquiries@riotinto.com
Media Relations, United Kingdom Matthew Klar M +44 7796 630 637 David Outhwaite M +44 7787 597 493
Media Relations, Australia Matt Chambers M +61 433 525 739 Michelle Lee M +61 458 609 322 Rachel Pupazzoni M +61 438 875 469
Media Relations, Canada Simon Letendre M +1 514 796 4973 Malika Cherry M +1 418 592 7293 Vanessa Damha M +1 514 715 2152
Media Relations, US Jesse Riseborough M +1 202 394 9480
Investor Relations, United Kingdom David Ovington M +44 7920 010 978 Laura Brooks M +44 7826 942 797 Wei Wei Hu M +44 7825 907 230
Investor Relations, Australia Tom Gallop M +61 439 353 948 Amar Jambaa M +61 472 865 948
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