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MELBOURNE, Australia--(BUSINESS WIRE)-- Rio Tinto Chief Executive Jakob Stausholm, said: “Delivering the full potential of our assets remains a priority: production improved versus the prior quarter across most of our sites, particularly where we have implemented the Rio Tinto Safe Production System (RTSPS). We progressed our excel in development objective, commissioning some major projects and advancing the next tranche of Pilbara mines, agreeing to enter a joint venture with Baowu to develop Western Range and modernising the joint venture covering the Rhodes Ridge project in the East Pilbara, unlocking a pathway to develop this significant, high quality resource. We also approved growth capital for underground mining at Kennecott, early works funding at Rincon Lithium and continue to progress Oyu Tolgoi. Our proposal to take Turquoise Hill Resources private has unanimous support of the Turquoise Hill Board who have recommended shareholders vote in favour of the transaction.
“We continue to deliver our strategy with decarbonisation at its centre. Last week we announced a partnership with the Government of Canada to invest up to C$737 million over eight years to decarbonise our Rio Tinto Fer et Titane operations in Québec, and to position the business as a centre of excellence for critical minerals processing.
“We are taking action to transform our culture and rebuild trust, implementing the recommendations of the Everyday Respect report and publishing our second progress report on our Communities and Social Performance practices, which includes increased feedback from Traditional Owner groups, with responses from seven groups compared to four in 2021.”
Production*
Q3 2022
vs Q3 2021
vs Q2 2022
9 MTHS 2022
vs 9 MTHS 2021
Pilbara iron ore shipments (100% basis)
Mt
82.9
-1%
+4%
234.3
Pilbara iron ore production (100% basis)
84.3
+1%
+7%
234.7
0%
Bauxite
13.7
-2%
-3%
41.4
Aluminium
kt
759
2,226
-7%
Mined copper
138
+10%
+9%
390
+8%
Titanium dioxide slag
310
+48%
+6%
876
+11%
IOC** iron ore pellets and concentrate
2.8
+28%
7.8
*Rio Tinto share unless otherwise stated
**Iron Ore Company of Canada
Q3 2022 operational highlights and other key announcements
The full third quarter production results are available here
1Rio Tinto share includes 100% of funding costs for Paraburdoo plant upgrades. 2Lower Commercial Skarn production targets referred to in this release are reported as recoverable copper and are underpinned as to 100% by Probable Ore Reserves. These estimates of Ore Reserves were reported in a release to the Australian Securities Exchange (ASX) dated 31 August 2022 “Rio Tinto Kennecott Mineral Resources and Ore Reserves” (Table 1 Release) and have been prepared by Competent Persons in accordance with the requirements of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, 2012 (JORC Code).
This announcement is authorised for release to the market by Steve Allen, Rio Tinto’s Group Company Secretary.
riotinto.com
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/20221017005852/en/
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