Rio Tinto Releases Fourth Quarter Production Results
Rio Tinto Plc (RIO)
US:NYSE Investor Relations:
riotinto.com/investors-87.aspx
Company Research
Source: Business Wire
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 2019vs Q4 2018vs Q3 20192019vs 2018Pilbara iron ore shipments (100% basis) Mt86.8-1%+1%327.4-3%Pilbara iron ore production (100% basis) Mt83.6-3%-4%326.7-3%Bauxite Mt15.1+28%+10%55.1
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